GIPCLGujarat Industries Power Company Ltd.
Gujarat Industries Power Company Q2 FY27 Results: Standalone Net Profit ₹39.24 Crore on Total Income of ₹454 Crore
- Earnings
- power generation
Reviewed byRachit TripathiBlacklitt Research
Gujarat Industries Power Company (NSE: GIPCL) reported standalone total income of ₹453.62 crore and net profit of ₹39.24 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹453.62 crore, up 32.5% YoY and down 25.8% QoQ
- Net profit and EPS: ₹39.24 crore, up 84.2% YoY; basic EPS ₹2.53
- Finance costs: ₹51.22 crore, up 181.7% YoY and 0.3% QoQ
- Other income: ₹22.47 crore, 5.0% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 453.62 | 342.30 | +32.5% | 611.31 | -25.8% | |
| Revenue from operations | 431.16 | 321.40 | +34.2% | 499.28 | -13.6% |
| Other income | 22.47 | 20.91 | +7.5% | 112.03 | -79.9% |
| 39.24 | 21.30 | +84.2% | 157.90 | -75.2% | |
| Profit before tax | 52.01 | 46.27 | +12.4% | 211.18 | -75.4% |
| Finance costs | 51.22 | 18.18 | +181.7% | 51.09 | +0.3% |
| Depreciation | 92.50 | 64.22 | +44.0% | 91.40 | +1.2% |
| Tax expense | 12.78 | 24.97 | -48.8% | 53.29 | -76.0% |
| Net profit margin | 8.65% | 6.22% | +2.43 pp | 25.83% | -17.18 pp |
| EPS, basic (₹) | 2.53 | 1.37 | +84.7% | 10.17 | -75.1% |
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 income on a year-on-year basis. Net profit rose 84.2% to ₹39.24 crore, while total income rose 32.5% and profit before tax rose 12.4%. Tax expense fell 48.8% to ₹12.78 crore, so the tax charge was 24.6% of profit before tax this quarter against a higher share in the year-earlier quarter.
Finance costs are the line that stands out. At ₹51.22 crore they were 11.3% of total income, against ₹18.18 crore in Q2 FY26, a rise of 181.7%. Depreciation also rose 44.0% to ₹92.50 crore. The filing does not give the reason for the rise in finance costs.
Against the previous quarter, the picture reverses. Other income was ₹112.03 crore in Q1 FY27, which was 79.9% lower in Q2 FY27 at ₹22.47 crore. Revenue from operations fell 13.6% to ₹431.16 crore. The filing does not give the reason for the other income in Q1 FY27.
For the half year ended 30 Sep 2026, total income was ₹1,064.93 crore and profit for the period was ₹197.13 crore. The statement of cash flows shows dividend paid on equity shares of ₹63.64 crore in the half year.
Inference
The company's statement shows a dividend paid on equity shares of ₹63.64 crore in the half year ended 30 Sep 2026. The results statement does not give a dividend declared for FY 2026-27, its amount or a record date.
The company has no subsidiary, associate or joint venture as on 30 Sep 2026, and reports one business segment, Power Generation. Its statutory auditors, K C Mehta & Co LLP, reported after a limited review that nothing came to their attention that causes them to believe the statement contains any material misstatement. The filing does not give the reason for the rise in finance costs or for the tax line in the year ended 31 Mar 2026.
Filed with BSE on . Reference: Original filing (PDF)
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