PTC India Q2 FY27 Results: Consolidated Net Profit ₹159 Crore on Total Income of ₹5,958 Crore
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Reviewed byRachit TripathiBlacklitt Research
PTC India (NSE: PTC) reported consolidated total income of ₹5,958 crore and net profit of ₹159 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹5,845 crore and standalone net profit ₹113 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹5,958.24 crore, up 6.7% YoY and 23.4% QoQ
- Net profit and EPS: ₹159.10 crore, down 28.3% YoY and up 42.0% QoQ; basic EPS ₹4.85
- Finance costs: ₹117.20 crore, up 15.7% YoY, including surcharge expense of ₹75.50 crore
- Attributable to owners: ₹143.68 crore of the ₹159.10 crore net profit
Standalone
The company on its own, without its subsidiaries
- Total income: ₹5,844.62 crore, up 7.2% YoY and 23.7% QoQ
- Net profit and EPS: ₹113.23 crore, down 15.4% YoY and up 60.2% QoQ; basic EPS ₹3.83
- Finance costs: ₹82.73 crore, up 90.9% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,958 | 5,585 | +6.7% | 4,827 | +23.4% | |
| Revenue from operations | 5,812 | 5,459 | +6.5% | 4,774 | +21.7% |
| Other income | 146 | 126 | +15.6% | 54 | +172.5% |
| 159 | 222 | -28.3% | 112 | +42.0% | |
| Profit before tax | 171 | 298 | -42.6% | 151 | +13.3% |
| Finance costs | 117 | 101 | +15.7% | 52 | +125.5% |
| Depreciation | 3 | 3 | -3.8% | 2 | +3.7% |
| Tax expense | -12 | 46 | n/a | 49 | n/a |
| Net profit margin | 2.67% | 3.98% | -1.31 pp | 2.32% | +0.35 pp |
| EPS, basic (₹) | 4.85 | 3.31 | +46.5% | 3.31 | +46.5% |
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 while total income rose. Total income grew 6.7% YoY to ₹5,958.24 crore, but profit before tax fell 42.6% to ₹171.10 crore and net profit fell 28.3% to ₹159.10 crore. Of the net profit, ₹143.68 crore is attributable to owners of the parent and ₹15.42 crore to non-controlling interests.
Other income of ₹146.17 crore is 2.5% of total income. The notes say surcharge income of ₹101.40 crore, included in other income, was recognised in the quarter, against ₹85.02 crore a year earlier. Finance costs of ₹117.20 crore are 2.0% of total income, and the notes say surcharge expense of ₹75.50 crore, against ₹42.41 crore a year earlier, is included in them.
The notes also record an impairment of financial instruments expense of ₹51.17 crore in the quarter. The subsidiary PFS technically wrote off a loan account of ₹187.91 crore and an equity investment of ₹61.12 crore in an associate, and RBI approved PFS reversing an impairment reserve of ₹191.20 crore out of ₹273.71 crore.
The notes record an income tax earlier year item of ₹(1,599) lakh, which they relate to tax assessments closed during the period. The consolidated segment table shows Power profit before tax of ₹115.53 crore and the financing business of ₹15.92 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,845 | 5,453 | +7.2% | 4,724 | +23.7% | |
| Revenue from operations | 5,702 | 5,327 | +7.0% | 4,670 | +22.1% |
| Other income | 143 | 126 | +12.8% | 54 | +165.6% |
| 113 | 134 | -15.4% | 71 | +60.2% | |
| Profit before tax | 152 | 180 | -15.6% | 96 | +59.4% |
| Finance costs | 83 | 43 | +90.9% | 13 | +545.3% |
| Depreciation | 1 | 1 | +9.6% | 1 | +11.1% |
| Tax expense | 39 | 47 | -16.1% | 25 | +56.9% |
| Net profit margin | 1.94% | 2.45% | -0.52 pp | 1.50% | +0.44 pp |
| EPS, basic (₹) | 3.83 | 4.52 | -15.3% | 2.39 | +60.3% |
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 profit fell faster than income. Total income rose 7.2% to ₹5,844.62 crore, while profit before tax fell 15.6% to ₹152.25 crore and net profit fell 15.4% to ₹113.23 crore. The standalone net profit margin is 1.9%, against 2.45% a year earlier.
Finance costs of ₹82.73 crore are nearly double the ₹43.34 crore of a year earlier, and the notes say the surcharge expense of ₹75.50 crore paid or payable to suppliers is included in them. Other income of ₹142.74 crore is 93.8% of profit before tax, so the quarter's pre-tax profit rests largely on other income.
Across the company, the cash flow statement shows dividend paid of ₹680.81 crore in the half year ended 30 Sep 2026, against ₹346.33 crore in the prior-year half year. The auditor's review of the consolidated results draws attention to PFS's NBFC-IFC status and says the auditor's conclusion is not modified. The integrated filing shows outstanding default on loans and debt securities as NIL.
Inference
The filing shows a dividend of ₹680.81 crore paid in the half year ended 30 Sep 2026 and paid-up equity share capital of ₹296.01 crore at a face value of ₹10 per share, with the subsidiary PFS reporting it met the 75% infrastructure finance threshold for NBFC-IFC status at the declaration of results.
What the filing leaves open is why finance costs rose this sharply beyond the surcharge expense the notes describe, and what the half-year dividend means per share, since the text read gives no declaration or record date.
Filed with BSE on . Reference: Original filing (PDF)
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