The company reported an 18.9% year-on-year increase in revenue from operations to ₹251 crore. However, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined 26.5% to ₹12.2 crore, while EBITDA margin contracted to 4.85% from 7.85% a year earlier, marking its lowest level since the December quarter of financial year 2024.
Net profit dropped 75.4% year-on-year to ₹5.9 crore from ₹23.9 crore. Other income also declined 46% to ₹15 crore from ₹29 crore in the year-ago quarter.
The company said profitability was impacted by upfront investments of around ₹18 crore towards the implementation of multiple Request for Proposal (RFP)-led mandates.
It also cited cost inflation arising from ongoing geopolitical tensions as another factor weighing on margins during the quarter.
Segment performance
The Tax Services business, the company’s largest segment, reported revenue of ₹251 crore, up 19% year-on-year. Protean said its market share in the segment increased by 275 basis points to 62% in the June quarter from 59% in FY26.
The Credit Rating Agency (CRA) Services business reported revenue of ₹28 crore, down 38% year-on-year, although the company said it continued to maintain a 97% market share in the segment.
Revenue from Identity Services declined 75% year-on-year to ₹6 crore.
Shares of Protean eGov Technologies fell up to 8% to the day’s low at ₹572.10, marking the biggest intraday fall since May last year. They were trading at ₹583.80 as of 10.53 am, down 6.07%. The stock has fallen over 22% so far in 2026 and 23% over the last 12 months.
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