Advance Metering posts Q2 loss as cash falls to Rs 6.72 lakh

Advance Metering Technology Limited posted a standalone loss of Rs 1.61 crore in the quarter ended 30 September 2026, reversing a Rs 2.36 crore profit in the June quarter, while cash and cash equivalents fell to Rs 6.72 lakh from Rs 2.46 crore at 31 March 2026. The quarterly reversal coincided with lower investment gains and higher expenses.

What were Advance Metering’s September-quarter results?

Advance Metering reported total income of Rs 5.57 crore for the September 2026 quarter, down from Rs 8.51 crore in the June 2026 quarter but above Rs 5.10 crore a year earlier. The company recorded a pre-tax and post-tax loss of Rs 1.61 crore, compared with a Rs 2.36 crore profit in June and a Rs 3.05 crore loss in the September 2025 quarter.

The quarterly movement included total comprehensive loss of Rs 1.63 crore, versus comprehensive income of Rs 2.37 crore in June and a Rs 3.04 crore comprehensive loss a year earlier. Basic and diluted earnings per share were a loss of Rs 1.00 for the September quarter, compared with earnings of Rs 1.47 in June and a loss of Rs 1.90 in September 2025.

For the half year ended 30 September 2026, Advance Metering remained profitable with profit after tax of Rs 74.90 lakh, against a Rs 58.83 lakh loss in the corresponding prior-year half. Half-year total income was Rs 14.08 crore, marginally below Rs 14.39 crore a year earlier, while total expenses fell to Rs 13.33 crore from Rs 14.98 crore.

Advance Metering recognised no current tax or deferred tax for the quarter and half year ended 30 September 2026 because of carried-forward business losses and unabsorbed depreciation. The audit committee reviewed the standalone results and the board approved them on 2 November 2026; the auditor issued a limited-review conclusion rather than an audit opinion.

Why did Advance Metering return to a quarterly loss?

Advance Metering returned to a loss as net gains on investments measured at fair value through profit or loss, or FVTPL, fell to Rs 37.84 lakh in the September quarter from Rs 4.00 crore in June. The reported gain was also below Rs 54.10 lakh in the September 2025 quarter, reducing total income despite higher revenue in its power-generation segment.

Other income was Rs 21.03 lakh in the September quarter, compared with Rs 29.96 lakh in June and Rs 50.48 lakh a year earlier. Net FVTPL gains and other income together were Rs 58.87 lakh, compared with Rs 4.30 crore in June, a change of Rs 3.71 crore between the two 2026 quarters.

Total expenses increased to Rs 7.18 crore from Rs 6.15 crore in June, although they were below Rs 8.15 crore a year earlier. Employee-benefit expense declined to Rs 1.39 crore from Rs 1.95 crore in June, but other expenses rose to Rs 1.40 crore from Rs 83 lakh and the company recorded a Rs 44.11 lakh net loss on FVTPL investments.

Finance costs were Rs 35.20 lakh in the September quarter, compared with Rs 35.89 lakh in June, while depreciation and amortisation rose slightly to Rs 1.20 crore from Rs 1.18 crore. The filing therefore shows that the quarterly loss followed both a sharply lower investment-gain contribution and a rise in aggregate expenses.

How did Advance Metering’s cash and working capital change?

Advance Metering ended 30 September 2026 with cash and cash equivalents of Rs 6.72 lakh, comprising Rs 5.83 lakh in bank balances and Rs 89,000 in cash on hand. This was down from Rs 2.46 crore at 31 March 2026 and Rs 58.08 lakh at the end of the half year ended 30 September 2025.

The cash-flow statement recorded Rs 3.57 crore used in operating activities during the first half of 2026-27, compared with Rs 2.43 crore used a year earlier. Trade receivables increased by Rs 3.45 crore during the half year and other current and non-current assets increased by Rs 1.02 crore, outweighing the Rs 74.90 lakh pre-tax profit and non-cash adjustments.

Investing activities generated Rs 1.74 crore in the half year, compared with Rs 23.29 lakh used in the prior-year period. The cash-flow statement recorded Rs 2.06 crore from sales of current and non-current investments, Rs 54.80 lakh for purchases of investments and Rs 1.06 crore in payments for property, plant and equipment.

Financing activities used Rs 55.98 lakh, compared with an inflow of Rs 2.72 crore in the previous half year, including Rs 70.66 lakh of finance costs. Current borrowings stood at Rs 12.40 crore at 30 September, up from Rs 11.76 crore at 31 March, while total current liabilities rose to Rs 17.26 crore from Rs 16.90 crore.

Which Advance Metering segments changed during the quarter?

Advance Metering’s power-generation segment was its largest revenue contributor in the September quarter, reporting gross revenue of Rs 2.84 crore, up from Rs 2.45 crore in June and Rs 2.15 crore a year earlier. Its segment result was a profit of Rs 1.78 crore, compared with Rs 1.62 crore in June and Rs 1.12 crore in September 2025.

Meters and others generated Rs 2.36 crore of gross revenue, against Rs 2.05 crore in June and Rs 2.41 crore a year earlier. The segment recorded a loss before tax and interest of Rs 86.27 lakh, widening from a Rs 33.73 lakh loss in June and a Rs 58.65 lakh loss in the comparable quarter of 2025.

The investments segment recorded Rs 37.84 lakh of revenue in the September quarter, down from Rs 4.00 crore in June. Its segment result changed to a Rs 24.80 lakh loss from a Rs 3.81 crore profit in June, consistent with the movement in FVTPL gains and losses reported in the quarterly statement.

At 30 September 2026, power generation held segment assets of Rs 46.00 crore, meters and others held Rs 13.26 crore, and investments held Rs 28.94 crore. Investment-segment assets were down from Rs 30.29 crore at 30 June, while total assets were Rs 101.93 crore, compared with Rs 100.69 crore at 31 March.

Conclusion

Advance Metering’s Rs 74.90 lakh first-half profit was accompanied by a volatile second quarter, in which a Rs 1.61 crore loss followed the June-quarter profit of Rs 2.36 crore. Power-generation revenue and profit rose sequentially, but lower investment gains, an FVTPL investment loss and higher total expenses changed the quarter’s reported outcome.

The next disclosed results will show whether trade receivables, which rose to Rs 7.17 crore from Rs 3.98 crore at 31 March, convert into operating cash and whether the Rs 6.72 lakh cash balance recovers. The filing also leaves unresolved the effect of carried-forward losses and unabsorbed depreciation, which led Advance Metering to recognise no current or deferred tax through 30 September 2026.