eMudhra Q2 FY27 Results: Consolidated Net Profit ₹33.40 Crore on Total Income of ₹209 Crore
- Earnings
- digital trust and identity services
Reviewed byKeshav SehgalBlacklitt Research
eMudhra (NSE: EMUDHRA) reported consolidated total income of ₹209.31 crore and net profit of ₹33.40 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹73.10 crore and net profit of ₹8.60 crore, it said in a filing on 04 Nov 2026. The board approved the unaudited results at a meeting held the same day.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹209.31 crore, up 18.3% YoY and 8.8% QoQ
- Net profit and EPS: ₹33.40 crore, up 26.3% YoY; basic EPS ₹3.99 against ₹3.09
- Net profit attributable to owners: ₹32.76 crore
- Finance costs: ₹1.05 crore, up 15.4% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹73.10 crore, up 15.2% YoY and 8.5% QoQ
- Net profit and EPS: ₹8.60 crore, up 28.5% YoY; basic EPS ₹1.04 against ₹0.81
- Net profit change: Down 30.7% QoQ from ₹12.42 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 209.31 | 176.95 | +18.3% | 192.46 | +8.8% | |
| Revenue from operations | 206.99 | 172.88 | +19.7% | 190.72 | +8.5% |
| Other income | 2.32 | 2.07 | +11.7% | 1.74 | +32.9% |
| 33.40 | 26.44 | +26.3% | 32.02 | +4.3% | |
| Profit before tax | 38.98 | 33.02 | +18.1% | 38.17 | +2.1% |
| Finance costs | 1.05 | 0.91 | +15.4% | 1.20 | -12.3% |
| Depreciation | 12.02 | 9.40 | +27.9% | 11.98 | +0.4% |
| Tax expense | 5.58 | 6.58 | -15.1% | 6.16 | -9.4% |
| Net profit margin | 15.96% | 14.94% | +1.02 pp | 16.63% | -0.68 pp |
| EPS, basic (₹) | 3.99 | 3.09 | +29.1% | 3.91 | +2.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income on a year-earlier basis: profit rose 26.3% against 18.3% for income.
Other income of ₹2.32 crore is 1.1% of total income and 5.9% of profit before tax, so the quarter's profit rests mainly on revenue from operations of ₹206.99 crore. Finance costs of ₹1.05 crore are 0.5% of total income.
The company says there is no effect on root keys and no material financial impact, and it has appointed KPMG as independent external reviewer to examine the matter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 73.10 | 63.43 | +15.2% | 67.37 | +8.5% | |
| Revenue from operations | 71.39 | 62.01 | +15.1% | 66.11 | +8.0% |
| Other income | 1.71 | 1.42 | +20.9% | 1.26 | +36.4% |
| 8.60 | 6.70 | +28.5% | 12.42 | -30.7% | |
| Profit before tax | 12.05 | 8.98 | +34.2% | 16.59 | -27.4% |
| Finance costs | 0.13 | 0.00 | n/a | 0.03 | +337.9% |
| Depreciation | 4.03 | 4.01 | +0.5% | 4.10 | -1.8% |
| Tax expense | 3.45 | 2.28 | +51.0% | 4.18 | -17.4% |
| Net profit margin | 11.77% | 10.56% | +1.21 pp | 18.43% | -6.67 pp |
| EPS, basic (₹) | 1.04 | 0.81 | +28.4% | 1.50 | -30.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit of ₹8.60 crore rose 28.5% year on year, faster than total income of ₹73.10 crore, up 15.2%. Pre-tax profit rose 34.2%, and tax expense rose 51.0% to ₹3.45 crore, which is 28.6% of profit before tax.
Against the previous quarter, standalone net profit fell 30.7% while total income rose 8.5%.
Standalone other income of ₹1.71 crore is 14.2% of profit before tax of ₹12.05 crore. Finance costs were ₹0.13 crore against ₹0.00 crore a year earlier.
Consolidated net profit of ₹33.40 crore is ₹24.80 crore higher than standalone net profit of ₹8.60 crore, and consolidated total income is ₹136.21 crore higher than standalone. The company's Q1 FY27 consolidated net profit was ₹32.00 crore on the same basis in Blacklitt's data, so the quarter is 4.3% above it on the statement's figures.
In October 2026 the company also reported a rating review by ICRA Limited, which Blacklitt has covered separately.
Inference
The notes do not say what the company will do after withdrawing from the Global SSL/TLS Certificate Business Management, and the effect on future revenue is not stated.
The filing gives no reason for the difference between consolidated net profit and profit attributable to owners, and does not state the cost or outcome of the KPMG review.
Filed with BSE on . Reference: Original filing (PDF)
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