Corporate India’s June quarter earnings season gathered momentum with a packed slate of results. While BHEL returned to profit, Polycab beat estimates…
BHEL | The PSU returned to profit in Q1 FY27, reporting a net profit of ₹382 crore against a ₹454 crore loss a year ago, aided by a 40% YoY increase in revenue to ₹7,698 crore. The company also posted a positive EBITDA of ₹504 crore, compared with an EBITDA loss of ₹537 crore last year, while the EBITDA margin stood at 6.5%. Growth was driven by a 51% rise in power business revenue, while the industry segment grew 12% year-on-year.
Tech Mahindra | The tech giant reported a strong Q1 FY27, with revenue rising 4.2% QoQ to ₹15,712 crore and EBIT increasing 8.6% to ₹2,264 crore, while the EBIT margin expanded 60 basis points to 14.4%, all ahead of Street estimates. Net profit grew 9.8% sequentially to ₹1,486 crore, but missed expectations. The company also reported $1.08 billion in deal wins, marking the third consecutive quarter with wins above the $1 billion mark.
Wipro | The IT services company reported a subdued Q1 FY27, with IT services revenue declining 1.2% in constant currency and 1.4% QoQ in dollar terms to $2.61 billion. Revenue rose modestly to ₹24,453 crore, while EBIT margin contracted to 16%, its lowest level in 15 quarters, due to wage hikes and weaker operating leverage. The company guided for constant currency growth of -1.5% to +0.5% for the September quarter and reported deal wins of $3.37 billion, down 2.5% sequentially.
Piramal Finance | The non-bank lender reported a strong Q1 FY27, with net profit rising 67% YoY to ₹461 crore and revenue increasing 28% to ₹3,368 crore. Assets under management (AUM) grew 25% to ₹1.07 lakh crore, led by 32% growth in retail AUM, while retail disbursements jumped 44%. Asset quality remained stable, with GNPA at 2.4% and NNPA at 1.6%.
Mangalore Refinery and Petrochemicals Ltd. | MRPL reported a mixed sequential performance for Q1FY27, with revenue surging 60% QoQ and net profit rising sharply to ₹914 crore from ₹119 crore in the March quarter. However, EBITDA declined 26% sequentially to ₹1,318 crore, while the EBITDA margin narrowed to 3.4% from 7.5%. Earnings were aided by a ₹472 crore exceptional gain and the company’s move to the lower corporate tax regime.
Polycab India | The wires and cables manufacturer reported a strong Q1 FY27 performance, with revenue rising 39% YoY to ₹8,209 crore and EBITDA increasing 33% to ₹1,136 crore, both ahead of estimates. EBITDA margin narrowed 70 basis points to 13.8%, but remained above expectations. Growth was driven by a 38% jump in wires & cables revenue, led by robust domestic demand, while the FMEG business surged 71%, aided by strong traction in solar products.
Newgen Software Technologies | The company reported a weak Q1 FY27 on a sequential basis, with revenue declining 21% QoQ to ₹357 crore, while net profit fell 41% to ₹63 crore. EBIT dropped 64% to ₹55 crore, and the EBIT margin contracted sharply to 15.4% from 33.6% in the March quarter. Shares fell after the results.
ITC Hotels | The company reported a healthy Q1 FY27 on a year-on-year basis, with revenue rising 15% to ₹936 crore, net profit increasing 36% to ₹180 crore, and EBITDA growing 20% to ₹292 crore. The EBITDA margin expanded to 31.2% from 30% a year ago. Sequentially, however, performance moderated, with profit falling 43%, revenue declining 25%, and EBITDA dropping 37% from the seasonally stronger March quarter.
Sterling & Wilson Renewable Energy | The solar EPC solutions provider reported a mixed Q1 FY27 performance, with revenue declining 10% YoY to ₹1,590 crore and EBITDA falling 8% to ₹80 crore, with EBITDA margin remaining flat at 5%. Net profit, however, rose 69% to ₹54 crore, largely due to a sharp reduction in tax expense rather than operational improvement.
South Indian Bank | The bank reported a steady Q1 FY27 business update, with gross advances rising 17% YoY to ₹1.04 lakh crore and total deposits increasing 11% to ₹1.26 lakh crore. CASA deposits grew 15% YoY to ₹41,493 crore, while the CASA ratio improved to 32.99% from 32.12% in the March quarter. Excluding technical write-offs made in FY26, gross advances would have grown 18% year-on-year.
DB Corp | The media company reported a strong Q1 FY27, with revenue rising 8% YoY to ₹604 crore and net profit increasing 25% to ₹101 crore. EBITDA grew 24% to ₹136 crore, while the EBITDA margin expanded 290 basis points to 22.6%, driven by 10% growth in advertising revenue and slower growth in operating expenses. The board also declared an interim dividend of ₹5 per share.
Prestige Estates | The real estate company reported a mixed Q1 FY27, with pre-sales declining 15% QoQ to ₹6,579 crore and collections falling 8% to ₹4,802 crore. However, sales volume increased 13% sequentially to 6.04 million sq. ft. The company launched four projects during the quarter with a gross development value (GDV) of ₹12,000 crore, while Hyderabad emerged as the largest contributor, accounting for 49% of quarterly sales.
