Zuari's Rs 118.70 cr profit was driven heavily by other income
Other income of Rs 96.88 cr and an 11.00% tax rate outweighed operating profit of Rs 59.15 cr.
Filed 31 Jul 2026, 13:43 IST · ZUARI (ZUARI)
Key takeaways
- Other income of Rs 96.88 cr was a major contributor to consolidated profit before tax of Rs 133.37 cr.
- Consolidated net profit of Rs 118.70 cr exceeded operating profit of Rs 59.15 cr, highlighting the gap between operating earnings and reported profit.
- An 11.00% tax rate limited the reduction from profit before tax to net profit, with tax expense at Rs 14.67 cr.
Operating spread remained narrow
Consolidated expenses of Rs 556.06 cr absorbed most of revenue of Rs 615.21 cr, leaving operating profit of Rs 59.15 cr. The resulting 9.61% operating margin provides a smaller earnings base than the reported net profit suggests.
Other income shaped the profit profile
Other income of Rs 96.88 cr formed a substantial part of profit before tax of Rs 133.37 cr. This pushed consolidated net profit to Rs 118.70 cr, well above operating profit of Rs 59.15 cr.
Tax rate supported earnings conversion
Tax expense of Rs 14.67 cr represented an 11.00% tax rate, limiting the reduction from profit before tax to net profit. Interest of Rs 17.75 cr and depreciation of Rs 4.91 cr were additional deductions below operating profit, while EPS was Rs 28.17.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹615 cr |
| Other income | ₹97 cr |
| Expenses | ₹556 cr |
| Operating profit | ₹59 cr |
| Operating margin (%) | 9.61% |
| Interest | ₹18 cr |
| Depreciation | ₹5 cr |
| Profit before tax | ₹133 cr |
| Tax | ₹15 cr |
| Net profit | ₹119 cr |
| EPS (₹) | ₹28.17 |
What to watch
- Whether operating margin moves from the Q1FY27 base of 9.61%.
- The contribution of other income relative to Rs 96.88 cr in this quarter.
- The next reported tax rate against the current 11.00% level.