RattanIndia Power Q2 FY27 Results: Consolidated Net Profit ₹38.37 Crore on Total Income of ₹788 Crore
Earnings
power generation
Blacklitt Research4 min read
Novoklimov, via Wikimedia Commons (CC0). Illustrative image.
RattanIndia Power Limited said in a filing on 30 Oct 2026 that, for the quarter ended 30 Sep 2026, consolidated total income was ₹787.73 crore and net profit was ₹38.37 crore. On a standalone basis, total income was ₹796.98 crore and net profit was ₹36.90 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹787.73 crore, up 6.0% YoY and down 9.1% QoQ
Net profit and EPS: ₹38.37 crore against a loss of ₹31.55 crore a year earlier; basic EPS ₹0.07
Finance costs: ₹82.88 crore, down 26.1% YoY from ₹112.08 crore
Other income: ₹84.88 crore, down 5.4% YoY and up 25.0% QoQ
Standalone
The company on its own, without its subsidiaries
Total income: ₹796.98 crore, up 5.9% YoY and down 9.0% QoQ
Net profit and EPS: ₹36.90 crore against a loss of ₹33.02 crore a year earlier; basic EPS ₹0.07
Finance costs: ₹82.87 crore, down 26.1% YoY from ₹112.08 crore
Other income: ₹94.13 crore, down 4.9% YoY and up 22.2% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
787.73
743.41
+6.0%
866.43
-9.1%
Revenue from operations
702.85
653.72
+7.5%
798.55
-12.0%
Other income
84.88
89.69
-5.4%
67.88
+25.0%
38.37
-31.55
n/a
45.85
-16.3%
Profit before tax
38.37
-31.55
n/a
45.85
-16.3%
Finance costs
82.88
112.08
-26.1%
85.93
-3.5%
Depreciation
61.74
60.86
+1.4%
61.07
+1.1%
Net profit margin
4.87%
-4.24%
+9.11 pp
5.29%
-0.42 pp
EPS, basic (₹)
0.07
-0.06
n/a
0.09
-22.2%
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 quarter moved from a loss to a profit. Net profit was ₹38.37 crore against a loss of ₹31.55 crore a year earlier, and it fell 16.3% from ₹45.85 crore in the quarter before. Finance costs were ₹82.88 crore, down 26.1% from ₹112.08 crore a year earlier, while depreciation was ₹61.74 crore, up 1.4% from ₹60.86 crore.
Revenue from operations rose 7.5% YoY to ₹702.85 crore, while other income fell 5.4% to ₹84.88 crore. Against the quarter before, revenue from operations fell 12.0% from ₹798.55 crore and other income rose 25.0% from ₹67.88 crore. Other income was 10.8% of total income this quarter.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
796.98
752.67
+5.9%
875.58
-9.0%
Revenue from operations
702.85
653.72
+7.5%
798.55
-12.0%
Other income
94.13
98.95
-4.9%
77.03
+22.2%
36.90
-33.02
n/a
44.36
-16.8%
Profit before tax
36.90
-33.02
n/a
44.36
-16.8%
Finance costs
82.87
112.08
-26.1%
85.93
-3.6%
Depreciation
63.22
62.35
+1.4%
62.56
+1.1%
Net profit margin
4.63%
-4.39%
+9.02 pp
5.07%
-0.44 pp
EPS, basic (₹)
0.07
-0.06
n/a
0.08
-12.5%
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 was ₹36.90 crore, against a loss of ₹33.02 crore a year earlier and ₹44.36 crore in the quarter before, a fall of 16.8% QoQ. Finance costs were ₹82.87 crore against ₹112.08 crore, down 26.1% YoY, and depreciation was ₹63.22 crore against ₹62.35 crore, up 1.4%.
Revenue from operations rose 7.5% YoY to ₹702.85 crore and fell 12.0% from ₹798.55 crore in the quarter before. Other income was ₹94.13 crore, down 4.9% YoY from ₹98.95 crore and up 22.2% from ₹77.03 crore in the quarter before. Other income was 11.8% of total income this quarter.
The notes carry an arbitration award against the company. The tribunal pronounced the award on 1 Oct 2026 and awarded ₹171 crore plus interest to BHEL. The company is evaluating the award and says legal remedies are available, including a challenge before the High Court and further appeals before the Supreme Court. The company says the likelihood of additional liability beyond amounts already recorded is not probable.
One RPS holder filed an insolvency application under Section 7 of the IBC. The NCLT decided the application in the company's favour on 17 Sep 2025 and dismissed the application against the subsidiary Poena Power Development Limited on 7 Nov 2025; an appeal on the subsidiary matter is pending before the NCLAT. The statutory auditors' review report on the consolidated results carries an Emphasis of Matter on the redemption of the RPS and this NCLT matter, and their conclusion is not modified.
Inference
The RPS liability of ₹250 crore, due for redemption on 27 Dec 2021, is shown under current financial liabilities. The company says section 55(2) of the Companies Act, 2013 limits redemption to profits available for dividend after accumulated losses, or to a fresh share issue for the purpose, and that it continues discussions with the RPS holders on other options.
The ₹250 crore inter-corporate deposit extended by the company remains assigned to the RPS holders as part of the security arrangement, according to the notes. Consolidated cash and cash equivalents were ₹129.29 crore at 30 Sep 2026, against ₹10.25 crore at 31 Mar 2026.
The filing does not explain the change in other income, and a reader would want that reason first.
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RTNPOWERRattanIndia Power Ltd.
