The Invest.Trust Q2 FY27 Results (NSE: THEINVEST)
Signal: Earnings declined
The read
The trajectory deteriorated sharply after the prior quarter: consolidated revenue fell 33.5% YoY to ₹5,260.74 lakh, EBITDA margin dropped to 8.0% from 21.2%, and PAT fell 76.0% to ₹134.40 lakh; the key thesis risk is that group profitability is being sustained by associates and subsidiaries while standalone operations remain loss-making.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹52.61 Cr | -33.5% | +789.0% |
| Net profit | ₹1.34 Cr | -76.0% | |
| EPS | ₹0.26 | -53.6% | |
| EBIT margin | 8.0% |
P&L walk
Consolidated operating income fell to ₹5,260.74 lakh, -33.5% YoY, and EBITDA margin compressed to 8.0% from 21.2% as expenses remained high relative to the smaller revenue base; ₹437.13 lakh of associate profit prevented the operating loss from translating into a consolidated loss.
Segments
The consolidated result materially outperformed the parent: consolidated PAT was ₹134.40 lakh while standalone PAT was a ₹128.98 lakh loss, supported by ₹437.13 lakh of associate profit share and subsidiary earnings.
Key positives
- Associate profit share contributed ₹437.13 lakh, allowing the group to report ₹134.40 lakh PAT despite a standalone ₹128.98 lakh loss.
- Standalone operating cash flow was a ₹687.29 lakh inflow in H1FY27 versus ₹372.28 lakh in H1FY26, an increase of 84.6%.
- EPS of ₹0.26 broadly tracked the 48.4% YoY decline in profit attributable to owners of ₹150.41 lakh, with no material PAT-to-EPS divergence.
Key concerns
- Consolidated revenue declined 33.5% YoY to ₹5,260.74 lakh, extending the weak revenue trajectory after ₹5,936.00 lakh in Q1FY27.
- EBITDA margin compressed to 8.0% from 21.2% YoY as revenue fell faster than expenses; finance costs nevertheless rose 24.9% to ₹368.09 lakh.
- Standalone PAT was a ₹128.98 lakh loss versus a ₹32.29 lakh loss YoY, highlighting dependence on subsidiaries, associates and other group earnings.
Research and educational content only. Not investment advice.