Quest Capital Q1 FY27 Results (BSE: 500069)
Signal: Revenue declined
The read
The key trajectory is a QoQ recovery in revenue from ₹98.51 lakh to ₹115.07 lakh and PAT from ₹53.00 lakh to ₹72.51 lakh, but YoY revenue still fell 47.0% and PAT 52.6% as fair-value gains declined to ₹109.35 lakh from ₹204.65 lakh; the earnings base therefore remains volatile rather than visibly compounding through recurring capital-markets income.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1.15 Cr | -47.0% | +16.8% |
| EBIT | ₹1 Cr | -51.2% | |
| Net profit | ₹0.73 Cr | -52.6% | |
| EPS | ₹0.73 | -52.6% | |
| EBIT margin | 87% |
P&L walk
Standalone revenue was ₹115.07 lakh, down 47.0% YoY but up 16.8% QoQ, and PAT was ₹72.51 lakh, down 52.6% YoY despite an 87% EBITDA margin; the result remains primarily investment-mark-to-market driven, with net fair-value gains of ₹109.35 lakh.
Key positives
- Revenue increased 16.8% QoQ to ₹115.07 lakh from ₹98.51 lakh, while PAT rose 36.8% QoQ to ₹72.51 lakh from ₹53.00 lakh.
- The company reported an 87% EBITDA margin and zero finance cost in Q1FY27, indicating low operating and financial-cost intensity.
- The limited review report carried an unmodified conclusion, providing no audit qualification on the reported results.
- PAT and EPS moved together, both declining 52.6% YoY, so there is no disclosed evidence of equity dilution affecting per-share earnings.
Key concerns
- Revenue declined 47.0% YoY to ₹115.07 lakh and PAT declined 52.6% YoY to ₹72.51 lakh, reversing the stronger historical quarterly earnings seen in the prior results series.
- Net fair-value gains of ₹109.35 lakh were the dominant revenue component and fell 46.6% YoY from ₹204.65 lakh, leaving earnings exposed to investment-market volatility.
- Interest income fell to ₹3.63 lakh from ₹27.19 lakh YoY, indicating weaker recurring income support beneath the investment gains.
- Total expenses rose to ₹25.38 lakh from ₹12.10 lakh YoY, increasing 109.8% even as revenue declined 47.0%.
Research and educational content only. Not investment advice.