Devine Impex first-half profit rises 57% as Q2 falls

Devine Impex Limited reported net profit of Rs 2.96 lakh for the half year ended September 30, 2026, up 57% from Rs 1.89 lakh a year earlier. The first-half result was supported by lower expenses and Rs 2.36 lakh of other income, even as September-quarter revenue declined to Rs 23.03 lakh from Rs 37.31 lakh.

Why did Devine Impex's first-half profit rise?

Devine Impex's first-half net profit rose because total expenses declined and the company recorded other income, while revenue from operations was almost unchanged. Revenue from operations was Rs 49.49 lakh for the half year ended September 30, 2026, compared with Rs 49.50 lakh in the corresponding 2025 period. Total income increased to Rs 51.85 lakh from Rs 43.50 lakh, reflecting Rs 2.36 lakh of other income against none a year earlier.

Total expenses fell to Rs 45.42 lakh from Rs 46.95 lakh, resulting in profit before tax of Rs 6.43 lakh compared with Rs 2.55 lakh. Changes in inventories of stock-in-trade declined to Rs 29.74 lakh from Rs 30.72 lakh, purchases of stock in trade reduced to Rs 7.83 lakh from Rs 8.23 lakh, and other expenses fell to Rs 5.72 lakh from Rs 5.87 lakh. Tax expense increased to Rs 1.47 lakh from Rs 0.66 lakh.

How did Devine Impex perform in the September quarter?

Devine Impex reported lower revenue and profit in the quarter ended September 30, 2026, than in both the preceding June quarter and the prior-year September quarter. Revenue from operations was Rs 23.03 lakh, compared with Rs 26.45 lakh in the quarter ended June 30, 2026, and Rs 37.31 lakh in the quarter ended September 30, 2025. No other income was reported for the September 2026 quarter.

Profit for the September 2026 quarter was Rs 1.02 lakh, down from Rs 3.93 lakh in the June 2026 quarter and Rs 3.01 lakh a year earlier. Total expenses reduced to Rs 21.71 lakh from Rs 27.71 lakh in June and Rs 33.64 lakh a year earlier, but the decline in expenses was accompanied by lower income. Profit before tax was Rs 1.32 lakh, versus Rs 5.10 lakh in June and Rs 3.67 lakh in September 2025.

What changed in Devine Impex's expenses?

Devine Impex's inventory movements remained its largest reported expense mechanism in the first half. Changes in inventories of stock-in-trade were Rs 17.49 lakh in the September quarter, compared with Rs 12.25 lakh in the June quarter and Rs 20.38 lakh in the September 2025 quarter. For the half year, this expense was Rs 29.74 lakh, down Rs 0.98 lakh from Rs 30.72 lakh a year earlier.

Purchases of stock in trade were nil in the September 2026 quarter after Rs 7.83 lakh in the June quarter, producing a first-half purchase expense of Rs 7.83 lakh. Employee benefits expense was Rs 1.07 lakh in each of the September 2026, June 2026 and September 2025 quarters. Devine Impex reported nil finance costs for the half year and said it operates in one segment, so it did not provide separate segment results.

What does Devine Impex's balance sheet show?

Devine Impex reported total assets of Rs 13.8083 crore at September 30, 2026, compared with Rs 13.7817 crore at March 31, 2026. Inventory was Rs 10.6392 crore, lower than Rs 10.9367 crore at the financial year end, while trade receivables increased to Rs 1.6220 crore from Rs 1.2637 crore. Other current assets declined to Rs 21.55 lakh from Rs 25.97 lakh.

Total equity rose to Rs 13.7757 crore from Rs 13.7261 crore, including other equity of Rs 4.1585 crore compared with Rs 4.1089 crore at March 31, 2026. The balance sheet listed no current or non-current borrowings at either date. Current liabilities were Rs 3.26 lakh, down from Rs 5.56 lakh, as trade payables reduced to Rs 16,000 from Rs 95,000 and other financial liabilities fell to Rs 1.06 lakh from Rs 4.04 lakh.

Did Devine Impex generate operating cash in the first half?

Devine Impex reported net cash from operating activities of Rs 1 lakh for the half year ended September 30, 2026, compared with an operating cash outflow of Rs 61,000 in the corresponding prior-year period. The cash-flow statement showed operating profit before working-capital changes of Rs 6.43 lakh, an increase in current assets of Rs 1.66 lakh and a decrease in current liabilities of Rs 3.77 lakh. No income tax payment was reported for the 2026 half year.

Devine Impex disclosed no investing or financing cash-flow movement for the half year. Its September 30 balance sheet listed cash and cash equivalents of Rs 1.29 lakh, compared with Rs 29,000 at March 31, 2026. Non-current investments were unchanged at Rs 1.2203 crore, while property, plant and equipment remained Rs 8,000 at both reporting dates.

Conclusion

Devine Impex's first-half result combined nearly flat operating revenue of Rs 49.49 lakh with lower total expenses and Rs 2.36 lakh of other income, lifting reported profit for the period to Rs 2.96 lakh. The September quarter, however, showed lower revenue, profit before tax and profit than both the June quarter and the year-earlier quarter.

The filing contains no management forecast, target or operating plan. The next reported results will provide the next disclosed comparison for whether September-quarter revenue of Rs 23.03 lakh changes, and whether trade receivables, which rose to Rs 1.6220 crore at September 30 from Rs 1.2637 crore at March 31, move further.