Daulat Securities Limited reported robust financial performance for the first quarter of FY27, with revenue from operations rising 67% year-on-year to ₹246.30 lakh. The Kolkata-based share broking and depository services firm saw its net profit surge by 73% to ₹226.97 lakh, reflecting strong top-line growth and effective cost management.

The results were approved by the Board of Directors on August 14, 2026. Statutory auditors M/s L. P. D. G. and Company carried out the audit of the unaudited financial results.

Financial Highlights

Revenue from operations more than doubled compared to the same quarter last year, growing from ₹148.10 lakh to ₹246.30 lakh. However, other income declined by 45% to ₹3.22 lakh from ₹5.90 lakh in Q1FY26. Despite this drop in non-operating income, total income expanded by 58% to ₹254.49 lakh.

Expenses contracted significantly, falling 25% to ₹22.57 lakh from ₹30.04 lakh in the corresponding period last year. Employee benefits expense remained relatively stable at ₹11.45 lakh, while finance costs decreased to ₹6.57 lakh from ₹7.75 lakh. Depreciation and amortization expense stood at ₹6.56 lakh.

What the Numbers Show

The divergence between revenue growth and expense contraction highlights improved operational leverage. While revenue grew by over 66%, total expenses fell by nearly 25%, resulting in a pre-tax profit margin expansion from approximately 81% in Q1FY26 to roughly 89% in Q1FY27. This indicates that the company is generating significantly higher returns on each rupee of revenue without a proportional increase in operational costs.

Earnings per share (basic) rose to ₹4.54 from ₹2.62 in Q1FY26. The company’s paid-up equity share capital remained unchanged at ₹500.00 lakh.

As per the filing, the nature of the capital market is highly competitive, and the quarterly results may not be indicative of likely annual results. The figures for the previous quarter ended March 31, 2026, are balancing figures between audited results for FY26 and unaudited published year-to-date figures up to the third quarter ended December 31, 2025.

Daulat Securities reported a net profit of ₹226.97 crore for the quarter ended June 30, 2026, compared to a net loss of ₹295.27 crore in the immediately preceding quarter and a profit of ₹130.95 crore in the same quarter of the previous fiscal year.

The Kolkata-based share broking firm saw its revenue from operations rise to ₹246.30 crore from ₹148.10 crore in Q2FY25. This growth was supported by other income of ₹3.22 crore and profits on the sale of investments totaling ₹4.97 crore. Total income for the quarter stood at ₹254.49 crore.

Financial Performance Details

Total expenses for the quarter were ₹27.52 crore, comprising employee benefits of ₹11.45 crore and other expenses of ₹16.07 crore. Depreciation and amortisation expenses were not provided for during the quarter, with provisions scheduled for year-end. Consequently, the profit before tax remained at ₹226.97 crore, with no tax expense recorded for the period.

Balance Sheet and Cash Flow

As of June 30, 2026, total assets increased to ₹2,322 crore from ₹2,110 crore at the end of March 2026. Non-current financial assets, primarily investments, rose to ₹1,102 crore from ₹887 crore. Current assets included inventories worth ₹717 crore and trade receivables of ₹8 crore, down from ₹40 crore in the previous quarter. Cash and cash equivalents decreased slightly to ₹17 crore from ₹20 crore.

On the liabilities side, total equity and liabilities matched assets at ₹2,321 crore (rounded). Other equity components rose to ₹1,660 crore from ₹1,433 crore. Current liabilities included trade payables of ₹137 crore, up from ₹98 crore in the prior quarter.

What the Numbers Show

The company’s profitability in Q2FY26 was significantly bolstered by non-operating gains. Profits on the sale of investments contributed ₹4.97 crore to the bottom line, while other income added ₹3.22 crore. Combined, these non-operating items accounted for approximately 3.6% of the total income but represented a crucial component of the overall profit structure, especially given the relatively low operating expenses of ₹27.52 crore against a revenue base of ₹246.30 crore.

Corporate Actions

The Board of Directors, in a meeting held on August 14, 2026, also approved the Board’s Report and the Secretarial Auditor’s Report for the financial year ended March 31, 2026. Additionally, the board appointed a scrutinizer for the 33rd Annual General Meeting (AGM) and approved the draft notice, including the date, time, and venue for the event. The book closure date for the AGM was also considered.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board. Statutory auditors P D Randar and Co issued a limited review report, noting that no adjustment entries were passed for depreciation, provision for income tax, or other comprehensive income for the quarter.