We Win's margin falls to 2.71% as costs outpace revenue
Standalone revenue grew 5.01% sequentially, but higher expenses and fixed charges reduced net profit to Rs 0.00 cr.
Filed 03 Nov 2026, 17:07 IST · after market close · We Win Ltd (WEWIN)
Key takeaways
- Standalone revenue rose 5.01% sequentially, but expenses grew 7.46%, narrowing operating margin by 2.23 percentage points to 2.71%.
- Net profit fell to Rs 0.00 cr as Rs 0.25 cr of interest and Rs 0.54 cr of depreciation offset Rs 0.67 cr of operating profit.
- We Win's 2.71% operating margin was 18.79 percentage points below the 21.50% median for 37 reported Services peers.
Price around the results
Revenue grew, but costs grew faster
We Win's standalone revenue increased 5.01% sequentially in Q2FY27, while expenses rose 7.46%. The faster expense growth cut operating margin by 2.23 percentage points to 2.71%, and operating profit declined 42.24% to Rs 0.67 cr. This was the second reported quarter in the trend, so the sequential margin decline is clear, but there is not enough history here to establish a longer streak.
Interest and depreciation erased operating profit
The Rs 0.67 cr operating profit was offset by Rs 0.25 cr of interest and Rs 0.54 cr of depreciation; Rs 0.12 cr of other income brought profit before tax to Rs 0.00 cr. Net profit therefore fell 100.00% sequentially from Rs 0.46 cr, while EPS declined 100.00% to Rs 0.00.
Margin trails the reported Services peer set
We Win's 2.71% operating margin was 18.79 percentage points below the 21.50% median among 37 Services companies that had reported the same quarter. The company ranked sixth from the bottom on this measure. The standalone results were filed after market close on 3 November 2026.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹25 cr | ₹24 cr | +5.01% |
| Other income | ₹0 cr | ₹0 cr | -33.33% |
| Expenses | ₹24 cr | ₹22 cr | +7.46% |
| Operating profit | ₹1 cr | ₹1 cr | -42.24% |
| Operating margin (%) | 2.71% | 4.94% | — |
| Interest | ₹0 cr | ₹0 cr | -13.79% |
| Depreciation | ₹1 cr | ₹1 cr | -10.00% |
| Profit before tax | ₹0 cr | ₹0 cr | -100.00% |
| Tax | ₹0 cr | ₹-0 cr | — |
| Net profit | ₹0 cr | ₹0 cr | -100.00% |
| EPS (₹) | ₹0.00 | ₹0.69 | -100.00% |
Operating margin of 2.71% compares with a Services sector median of 21.50% across 37 peers that have reported Q2FY27.
What to watch
- Whether operating margin recovers from 2.71% after the 2.23-percentage-point sequential decline.
- Whether expense growth moderates from 7.46% against revenue growth of 5.01%.
- Whether interest of Rs 0.25 cr and depreciation of Rs 0.54 cr continue to absorb operating profit.