Nesco Q2 FY27 Results: Consolidated Net Profit ₹105 Crore on Total Income of ₹253 Crore

Summary

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 fell faster than income. Consolidated net profit dropped 11.5% year on year to ₹105.21 crore while total income fell 4.2%, and profit before tax fell 5.4%. The gap sits below pre-tax profit: tax expense rose 24.5% to ₹30.60 crore, so the tax charge was 22.5% of profit before tax, against a higher year-earlier share of the same kind of charge. The filing gives the tax figures but does not explain the rise.

Income is mostly operating. Revenue from operations fell 4.5% year on year to ₹228.44 crore, more than other income's 1.1% fall to ₹24.13 crore. Other income is 9.6% of total income this quarter, and 17.8% of profit before tax. Other income fell 44.7% from the previous quarter's ₹43.60 crore, and the filing does not give a reason.

Finance costs are small against revenue. Finance costs of ₹5.57 crore are 2.2% of total income, rising 2.4% year on year while depreciation fell 8.8% to ₹10.57 crore. Segment results show the Exhibitions and Events segment's profit falling from the year-earlier quarter, but the filing does not explain that change. The statement says earlier segment figures remain comparable after the renaming of segments.

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.

The standalone figures track the consolidated ones line by line on profit. Net profit of ₹105.21 crore and profit before tax of ₹135.81 crore are the same as consolidated, as is total income of ₹252.57 crore. The differences are small: revenue from operations is ₹228.45 crore against ₹228.44 crore, and other income is ₹24.12 crore against ₹24.13 crore.

The one line that differs by a larger amount is depreciation. Standalone depreciation for the year-earlier quarter was ₹10.59 crore against ₹11.59 crore consolidated, so standalone depreciation fell only 0.2% year on year while consolidated depreciation fell 8.8%. The consolidated results include the subsidiary Nesco Retail Private Limited, and the filing does not explain the depreciation difference in the year-earlier quarter.

Nesco reports through four segments: Realty, Exhibitions and Events, Engineering and Foods, with a fifth, Way-Side Amenities, added in the statements. Segment revenue from Realty was ₹100.80 crore this quarter. The company's market value is ₹6,927 crore at the 23 Oct 2026 close of ₹983.20 a share. The latest quarter reported by Blacklitt's data, Q1 FY27, showed consolidated net profit of ₹99.96 crore, up 4.0% year on year, so this quarter's profit is 5.3% above that base.

Inference

The quarter's profit is lower than a year ago on the company's figures, and the fall in net profit is larger than the fall in total income. Paid up equity share capital is ₹14.09 crore at ₹2 face value, and EPS of ₹14.93 is not annualised. The filing reports dividend payments of ₹49.32 crore in the half year, against ₹45.80 crore a year earlier, but does not say whether a dividend has been declared for the current quarter.

Gaps the filing leaves open: the reason for the fall in other income and in the Exhibitions and Events segment result, the reason for the ₹6.78 crore asset write-off in the half-year cash flow, and whether a dividend has been declared for the current quarter.

Reference: Original filing (PDF)