Williamson Magor returns to operating profit as other income lifts earnings
The consolidated operating margin rebound was aided by a sharp tax-rate decline, while other income made up 65.29% of pre-tax profit.
Filed 12 Nov 2026, 18:41 IST · after market close · Williamson Magor & Company Ltd (WILLAMAGOR)
Key takeaways
- Consolidated operating profit recovered to Rs 0.9 cr from a loss of Rs 0.28 cr in Q1FY27.
- Other income contributed 65.29% of consolidated profit before tax, making it a major part of earnings.
- Operating margin was 69.13%, or 17.52 percentage points above the 51.61% median for 118 reported financial-services peers.
Price around the results
Operating profit rebounds from Q1 loss
Consolidated operating profit moved to Rs 0.9 cr from a loss of Rs 0.28 cr in Q1FY27, while revenue rose from zero to Rs 1.3 cr. The quarter-on-quarter operating-margin change of 139019.13 percentage points is distorted by the zero-revenue base in Q1, so it is not a meaningful measure of underlying margin momentum.
Other income and tax drove reported profit
Other income was Rs 1.58 cr and accounted for 65.29% of profit before tax, which limits the extent to which the Rs 2.02 cr net profit reflects operating earnings. The tax rate fell to 16.48% from 1982.8% in Q1, a decline of 1966.32 percentage points that also supported the quarter-on-quarter profit recovery. Interest expense fell 72.73% to Rs 0.06 cr.
Margin was above the reported peer median
Williamson Magor's 69.13% operating margin was 17.52 percentage points above the 51.61% median among 118 Financial Services companies that had reported the quarter. The available quarter-on-quarter history therefore shows a rebound from Q1's loss-making operating result, but does not establish a longer multi-quarter margin trend.
Results were filed after market close
The consolidated results were filed after market close on 12 November 2026. The quarter's reported earnings therefore need to be assessed separately from any post-results stock move.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹1 cr | ₹0 cr | — |
| Other income | ₹2 cr | ₹1 cr | +36.21% |
| Expenses | ₹0 cr | ₹0 cr | +42.86% |
| Operating profit | ₹1 cr | ₹-0 cr | — |
| Operating margin (%) | 69.13% | -138950.00% | — |
| Interest | ₹0 cr | ₹0 cr | -72.73% |
| Depreciation | ₹0 cr | ₹0 cr | — |
| Profit before tax | ₹2 cr | ₹1 cr | +261.19% |
| Tax | ₹0 cr | ₹13 cr | -96.97% |
| Net profit | ₹2 cr | ₹-13 cr | — |
| EPS (₹) | ₹1.85 | ₹-11.45 | — |
Operating margin of 69.13% compares with a Financial Services sector median of 51.61% across 118 peers that have reported Q2FY27.
What to watch
- Whether revenue remains above the Q2FY27 level of Rs 1.3 cr.
- Whether operating margin holds near 69.13% without another zero-revenue comparison.
- Whether other income remains below or above its 65.29% share of profit before tax.