TATATECH · Information Technology
A lower tax rate lifted profit. Is the lower rate going to last?
Effective tax rate 28.0% against 38.0% over the previous quarters, worth about ₹28.3 cr of profit.
Source: Quarterly statements
Operating margin slipped on the year.
EBITDA margin 16.0%, −209 bps on the year (+190 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,289 cr | ₹1,301 cr | ₹1,269 cr | ₹1,296 cr | ₹1,317 cr | ₹1,286 cr | ₹1,244 cr | ₹1,323 cr | ₹1,366 cr | ₹1,572 cr | ₹1,665 cr | ₹1,699 cr |
| YoY | — | — | — | +2% | +2% | −1% | −2% | +2% | +4% | +22% | +34% | +28% |
| EBITDA margin | 18.4% | 18.4% | 18.2% | 18.2% | 17.8% | 18.1% | 16.1% | 15.7% | 14.1% | 16.0% | 16.0% | 16.1% |
| Other income, % of PBT | 13% | 10% | 10% | 7% | 12% | 24% | 29% | 24% | −543% | 33% | 18% | 18% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 28% | 32% | 26% | 28% | 25% | 27% | 27% | 27% | 71% | 28% | 28% | 29% |
| Net profit | ₹170 cr | ₹157 cr | ₹162 cr | ₹157 cr | ₹169 cr | ₹189 cr | ₹170 cr | ₹166 cr | ₹7.0 cr | ₹204 cr | ₹181 cr | ₹171 cr |
| YoY | — | — | — | −2% | −1% | +20% | +5% | +6% | −96% | +8% | +6% | +3% |
| Core profit YoY | — | — | — | +10% | −3% | −5% | −16% | −14% | −25% | −4% | +25% | +16% |
| EPS | ₹4.20 | ₹3.88 | ₹3.99 | ₹3.88 | ₹4.16 | ₹4.66 | ₹4.20 | ₹4.08 | ₹0.16 | ₹5.03 | ₹4.45 | ₹4.22 |
| Flags | · | · | · | ✓ | ✓ | 1 | 1 | 1 | 1 | 1 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tata Technologies Ltd. reported revenue of ₹1,572 cr (+22.2% on the year) and net profit of ₹204 cr (+7.9% on the year) for January to March 2026.
Profit before other income, exceptional items and tax moved −4.1% on the year, against +7.9% for reported profit.
1 check raised a question: A lower tax rate lifted profit. Is the lower rate going to last?
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