Ganga Papers’ September profit rises 83% on revenue growth

Ganga Papers India Limited reported profit for the period of Rs 56.01 lakh for the quarter ended September 30, 2026, an 83% increase from Rs 30.57 lakh a year earlier, as revenue from operations rose 32% to Rs 93.38 crore and profit before tax reached Rs 74.85 lakh.

How did Ganga Papers perform in the September quarter?

Ganga Papers recorded total revenue of Rs 93.40 crore in the quarter ended September 30, 2026, compared with Rs 70.63 crore in the quarter ended September 30, 2025. Revenue from operations was Rs 93.38 crore, while other income was Rs 2.65 lakh, compared with other income of Rs 2.98 lakh in the prior-year quarter.

Profit before tax rose to Rs 74.85 lakh from Rs 40.66 lakh, an increase of Rs 34.19 lakh. After current tax of Rs 15.11 lakh and deferred tax of Rs 3.73 lakh, profit for the period was Rs 56.01 lakh. Basic and diluted earnings per share, or EPS, rose to Rs 0.52 from Rs 0.28, and Ganga Papers stated that the quarterly EPS was not annualised.

What changed in Ganga Papers’ September-quarter costs?

Ganga Papers’ total expenses increased to Rs 92.66 crore in the September 2026 quarter from Rs 70.22 crore a year earlier, alongside a Rs 22.77 crore rise in total revenue. Cost of materials consumed declined to Rs 58.04 crore from Rs 59.34 crore, while changes in inventories represented an expense of Rs 2.76 crore after a reduction of Rs 57.40 lakh in the prior-year quarter.

Other expenses rose to Rs 29.01 crore from Rs 9.21 crore, an increase of Rs 19.80 crore. Employee benefits expense declined to Rs 61.20 lakh from Rs 76.99 lakh, finance costs fell to Rs 45.06 lakh from Rs 78.92 lakh, and depreciation and amortisation expense was Rs 56.17 lakh compared with Rs 58.50 lakh. The filing reported no exceptional items in either quarter.

How did Ganga Papers compare with the June 2026 quarter?

Ganga Papers’ revenue from operations increased to Rs 93.38 crore in the September 2026 quarter from Rs 86.01 crore in the June 2026 quarter. Total revenue rose from Rs 86.03 crore to Rs 93.40 crore, while profit for the period increased from Rs 49.91 lakh to Rs 56.01 lakh. Profit before tax was Rs 74.85 lakh in September, compared with Rs 66.69 lakh in June.

The cost mix changed between the two 2026 quarters. Materials consumed fell to Rs 58.04 crore from Rs 81.93 crore, while other expenses increased to Rs 29.01 crore from Rs 4.38 crore. Inventory changes were an expense of Rs 2.76 crore in the September quarter after a Rs 2.97 crore reduction in the June quarter, and finance costs decreased to Rs 45.06 lakh from Rs 56.01 lakh.

What did Ganga Papers report for the first half?

Ganga Papers reported revenue from operations of Rs 170.39 crore for the half year ended September 30, 2026, compared with Rs 132.06 crore in the corresponding half of 2025. Total revenue was Rs 179.43 crore, against Rs 133.01 crore, while profit for the period increased to Rs 1.06 crore from Rs 61.33 lakh.

Profit before tax for the six months rose to Rs 1.42 crore from Rs 81.96 lakh. Total expenses were Rs 178.02 crore, compared with Rs 132.19 crore in the prior-year half; materials consumed increased to Rs 140.87 crore from Rs 105.31 crore, and other expenses rose to Rs 33.39 crore from Rs 20.95 crore. Finance costs declined to Rs 1.03 crore from Rs 1.43 crore.

What do Ganga Papers’ balance sheet and cash flows show?

Ganga Papers reported total assets of Rs 102.23 crore at September 30, 2026, compared with Rs 100.32 crore at March 31, 2026. Inventories declined to Rs 18.34 crore from Rs 24.38 crore, while trade receivables increased to Rs 51.04 crore from Rs 41.30 crore. Cash and cash equivalents were Rs 10.87 lakh at September 30, compared with Rs 4.05 crore at the start of the financial year.

Total equity increased to Rs 33.32 crore from Rs 32.26 crore at March 31, 2026. Current borrowings declined to Rs 36.60 crore from Rs 40.23 crore, while non-current borrowings fell to Rs 73.16 lakh from Rs 4.08 crore. For the half year, operating activities generated Rs 5.96 crore of cash, compared with Rs 3.00 crore used in the corresponding 2025 half, while financing activities used Rs 7.89 crore.

Conclusion

Ganga Papers’ September-quarter results showed profit rising faster than revenue, with profit before tax increasing by Rs 34.19 lakh year on year as revenue from operations added Rs 22.48 crore. Over the first half, profit for the period reached Rs 1.06 crore against Rs 61.33 lakh a year earlier, while operating cash flow moved to an inflow of Rs 5.96 crore from an outflow of Rs 3.00 crore.

The filing does not provide revenue guidance, targets or a planned operational milestone. Subsequent results will show whether trade receivables, which stood at Rs 51.04 crore on September 30, 2026, and quarterly other expenses of Rs 29.01 crore move alongside revenue, borrowings and operating cash flow.