VALIANTValiant Communications Ltd.
Valiant Communications Q2 FY27 Results: Consolidated Net Profit ₹7.32 Crore on Total Income of ₹25.25 Crore
- Earnings
- telecom transmission equipment
Reviewed byRachit TripathiBlacklitt Research
Valiant Communications (NSE: VALIANT) reported consolidated total income of ₹25.25 crore and net profit of ₹7.32 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹24.23 crore and net profit of ₹7.46 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹25.25 crore, up 20.2% YoY and down 2.5% QoQ
- Net profit and EPS: ₹7.32 crore, up 38.9% YoY and down 6.0% QoQ; basic EPS ₹6.26
- Other income: ₹1.18 crore, including a net mark-to-market and realised gain of ₹20 lakh on current investments
Standalone
The company on its own, without its subsidiaries
- Total income: ₹24.23 crore, up 18.6% YoY and down 6.4% QoQ
- Net profit and EPS: ₹7.46 crore, up 49.5% YoY and down 7.7% QoQ; basic EPS ₹6.38
- Other income: ₹0.94 crore, up 154.1% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 25 | 21 | +20.2% | 26 | -2.5% | |
| Revenue from operations | 24 | 20 | +19.3% | 25 | -5.3% |
| Other income | 1 | 1 | +42.2% | 0 | +145.8% |
| 7 | 5 | +38.9% | 8 | -6.0% | |
| Profit before tax | 10 | 7 | +46.6% | 11 | -2.2% |
| Finance costs | 0 | 0 | +20.0% | 0 | 0.0% |
| Depreciation | 1 | 1 | +15.7% | 1 | +5.2% |
| Tax expense | 3 | 2 | +70.1% | 3 | +8.8% |
| Net profit margin | 28.99% | 25.10% | +3.89 pp | 30.08% | -1.09 pp |
| EPS, basic (₹) | 6.26 | 4.61 | +35.8% | 6.72 | -6.8% |
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. Consolidated net profit rose 38.9% YoY against 20.2% growth in total income, and profit before tax rose 46.6%. Revenue from operations rose 19.3%, while other income rose 42.2% to ₹1.18 crore, which is 11.5% of profit before tax of ₹10.28 crore.
The notes say the other income includes an unrealised mark-to-market loss of ₹32 lakh and a realised gain of ₹52 lakh on current investments, a net gain of ₹20 lakh. Finance costs were ₹0.06 crore, a negligible share of total income.
Tax expense of ₹2.96 crore is 28.8% of profit before tax, up 70.1% YoY. The filing does not give the reason for the higher tax charge. Exceptional items are nil in the quarter and in the periods shown.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 24 | 20 | +18.6% | 26 | -6.4% | |
| Revenue from operations | 23 | 20 | +16.1% | 25 | -7.4% |
| Other income | 1 | 0 | +154.1% | 1 | +23.7% |
| 7 | 5 | +49.5% | 8 | -7.7% | |
| Profit before tax | 10 | 7 | +49.6% | 11 | -7.6% |
| Finance costs | 0 | 0 | +20.0% | 0 | 0.0% |
| Depreciation | 1 | 1 | +15.7% | 1 | +5.2% |
| Tax expense | 3 | 2 | +50.0% | 3 | -7.4% |
| Net profit margin | 30.79% | 24.42% | +6.36 pp | 31.20% | -0.41 pp |
| EPS, basic (₹) | 6.38 | 4.36 | +46.3% | 6.97 | -8.5% |
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.
Standalone net profit rose 49.5% YoY, faster than total income of 18.6% growth, and slower than profit before tax, which rose 49.6% to ₹9.98 crore. Other income of ₹0.94 crore is 9.4% of profit before tax.
The difference in other income is not explained beyond the mark-to-market note.
Tax expense of ₹2.52 crore is 25.3% of profit before tax. Standalone revenue from operations rose 16.1% YoY to ₹23.29 crore.
Inference
The auditors issued limited review reports on both sets of results with unmodified conclusions, and the company says the limited review has no impact on the results. Warrant conversions brought in ₹14.40 crore in the half year, and 3,50,000 warrants remained outstanding at 30 Sep 2026. The filing does not say when the remaining warrants will be converted, and does not give the reason for the change in consolidated other income from the previous quarter.
Filed with BSE on . Reference: Original filing (PDF)
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