IGI Q2 FY27 consolidated revenue Rs 398.02 cr; PAT Rs 185.84 cr

What the numbers show

• Net margin was 46.69% of revenue, up 396 bps from 42.73%.
• Revenue rose 31.0% while total expenses rose 21.7%.
• Employee benefits accounted for Rs 15.87 cr of the Rs 30.50 cr rise in total expenses (52%).
• Employee benefits took 21.9% of revenue, against 23.4% a year earlier.

• Revenue from operations (consolidated, quarter ended 30 September 2026): Rs 398.02 cr vs Rs 303.74 cr a year earlier, as per the statement of unaudited consolidated financial results.

• Total income: Rs 416.83 cr vs Rs 316.21 cr in the corresponding quarter of the previous year.

• Total expenses: Rs 171.22 cr vs Rs 140.72 cr in the corresponding quarter of the previous year.

• Purchase of stock-in-trade: Rs 4.17 cr vs Rs - (nil) in the corresponding quarter of the previous year.

• Change in inventories of stock-in-trade: Rs (0.588) cr vs Rs 1.98 cr in the corresponding quarter of the previous year.

• Employee benefits expense: Rs 87.05 cr vs Rs 71.18 cr in the corresponding quarter of the previous year.

• Finance costs: Rs 2.11 cr vs Rs 2.15 cr in the corresponding quarter of the previous year.

• Depreciation and amortisation expenses: Rs 15.60 cr vs Rs 11.01 cr in the corresponding quarter of the previous year.

• Other expenses: Rs 62.88 cr vs Rs 54.40 cr in the corresponding quarter of the previous year.

• Profit before tax: Rs 245.62 cr vs Rs 175.48 cr in the corresponding quarter of the previous year.

• Profit for the period (profit after tax): Rs 185.84 cr vs Rs 129.79 cr in the corresponding quarter of the previous year.

• Basic earnings per share (face value Rs 2 each): Rs 4.30 vs Rs 3.00 in the corresponding quarter of the previous year.

• Diluted earnings per share (face value Rs 2 each): Rs 4.16 vs Rs 2.91 in the corresponding quarter of the previous year.

For the quarter ended 30 September 2026, the consolidated statement of financial results shows higher revenue from operations and total income compared with the same quarter in the previous year. Revenue from operations increased to Rs 398.02 cr from Rs 303.74 cr, while total income rose to Rs 416.83 cr from Rs 316.21 cr.

On the cost side, total expenses increased to Rs 171.22 cr from Rs 140.72 cr, driven mainly by higher employee benefits expense, which moved to Rs 87.05 cr from Rs 71.18 cr, and higher depreciation and amortisation expenses, which rose to Rs 15.60 cr from Rs 11.01 cr. Other expenses also increased to Rs 62.88 cr from Rs 54.40 cr. Finance costs were broadly similar at Rs 2.11 cr compared with Rs 2.15 cr a year earlier.

Despite the rise in expenses, profit before tax increased to Rs 245.62 cr from Rs 175.48 cr in the corresponding quarter of the previous year. After total tax expenses of Rs 59.77 cr (vs Rs 45.69 cr a year earlier), profit for the period improved to Rs 185.84 cr from Rs 129.79 cr. Basic earnings per share for the quarter rose to Rs 4.30 from Rs 3.00, and diluted earnings per share increased to Rs 4.16 from Rs 2.91, based on the figures reported in the statement of unaudited consolidated financial results.