Naperol Investments swings to Rs 40.15 lakh quarterly profit

Naperol Investments Limited reported Rs 40.15 lakh profit after tax for the quarter ended September 30, 2026, reversing a Rs 1.04 lakh loss a year earlier, after its trading segment posted Rs 8.49 lakh profit before tax against a Rs 2.13 lakh loss.

How did Naperol Investments perform in the September 2026 quarter?

Naperol Investments returned to quarterly profit, reporting Rs 45.86 lakh profit before tax and Rs 40.15 lakh profit after tax for the quarter ended September 30, 2026. In the quarter ended September 30, 2025, profit before tax was Rs 4.14 lakh and the company made a Rs 1.04 lakh loss after tax. Current tax was Rs 5.89 lakh in the latest quarter, while deferred tax was a Rs 0.18 lakh credit.

Revenue from operations rose to Rs 3.93 crore from Rs 2.94 crore a year earlier. Total income was Rs 3.92 crore, including negative other income of Rs 0.37 lakh, compared with Rs 2.94 crore in the prior-year quarter. Total expenses increased to Rs 3.46 crore from Rs 2.90 crore, while the resulting pre-tax profit rose by Rs 41.72 lakh.

The sequential comparison was different. Revenue from operations fell from Rs 9.45 crore in the quarter ended June 30, 2026 to Rs 3.93 crore in the September quarter, but profit after tax rose from Rs 18.27 lakh to Rs 40.15 lakh. Profit before tax increased from Rs 24.41 lakh to Rs 45.86 lakh as total expenses declined from Rs 9.28 crore to Rs 3.46 crore.

Which segment drove Naperol Investments' return to profit?

Trading drove the year-on-year turnaround, recording Rs 8.49 lakh segment profit before tax in the September 2026 quarter against a Rs 2.13 lakh loss a year earlier. Trading revenue increased to Rs 3.35 crore from Rs 2.28 crore in the September 2025 quarter, although it was below Rs 8.96 crore in the June 2026 quarter. The segment's pre-tax result was Rs 24.88 lakh in the preceding quarter.

The investment segment contributed Rs 57.72 lakh of profit before tax, compared with Rs 65.98 lakh a year earlier and Rs 49.17 lakh in the June 2026 quarter. Combined segment profit before tax was Rs 66.21 lakh in the September quarter. After Rs 20.35 lakh of other unallocable expenses, Naperol Investments reported Rs 45.86 lakh profit before tax.

Other unallocable expenses fell by Rs 39.36 lakh from Rs 59.71 lakh in the September 2025 quarter to Rs 20.35 lakh in the latest quarter. That reduction occurred alongside the Rs 10.62 lakh improvement in the trading segment result, while investment-segment profit declined by Rs 8.26 lakh. These disclosed movements reconcile with the increase in company profit before tax from Rs 4.14 lakh to Rs 45.86 lakh.

What do Naperol Investments' half-year figures show?

Naperol Investments reported Rs 58.42 lakh profit after tax for the half year ended September 30, 2026, compared with Rs 6.71 lakh in the corresponding half of 2025. Half-year profit before tax rose to Rs 70.27 lakh from Rs 14.63 lakh, while revenue from operations increased to Rs 13.38 crore from Rs 6.16 crore.

Trading revenue more than doubled to Rs 12.31 crore in the six-month period from Rs 5.08 crore a year earlier. However, trading segment profit before tax declined to Rs 27.32 lakh from Rs 36.63 lakh. Investment-segment profit before tax was Rs 1.07 crore, compared with Rs 1.09 crore, while other unallocable expenses fell to Rs 63.94 lakh from Rs 1.32 crore.

Net cash generated from operating activities was Rs 8.21 crore for the half year ended September 30, 2026, compared with Rs 1.62 crore in the prior-year half. Cash generated from operations reached Rs 8.28 crore, aided by a Rs 5.86 crore decrease in trade receivables and a Rs 4.35 crore decrease in other assets. These movements were partly offset by a Rs 1.04 crore decrease in trade payables and a Rs 32 lakh increase in inventories.

How did Naperol Investments' assets and cash position change?

Naperol Investments had total assets of Rs 932.51 crore at September 30, 2026, compared with Rs 919.67 crore at March 31, 2026. Non-current investments rose to Rs 914.08 crore from Rs 888.35 crore, while current investments declined to Rs 6.73 crore from Rs 7.10 crore. Total current assets decreased to Rs 11.46 crore from Rs 21.41 crore.

Total equity stood at Rs 930.09 crore at September 30, compared with Rs 916.92 crore at March 31. Other equity increased to Rs 924.34 crore from Rs 911.17 crore, while equity share capital remained Rs 5.75 crore. Total liabilities declined to Rs 2.42 crore from Rs 2.75 crore, although non-current liabilities increased to Rs 78.68 lakh from Rs 18.21 lakh.

Cash and cash equivalents were Rs 46.38 lakh at September 30, 2026, down from Rs 85.58 lakh at the beginning of the financial year. Investing activities generated Rs 86.63 lakh in the half year, against cash used of Rs 4.77 crore in the prior-year half. Financing activities used Rs 9.47 crore, reflecting dividends paid to shareholders, and produced a net Rs 39.20 lakh decrease in cash.

Why was Naperol Investments' total comprehensive income negative?

Naperol Investments reported a Rs 104.36 crore total comprehensive loss in the September 2026 quarter despite its Rs 40.15 lakh profit after tax. The difference came from a Rs 104.76 crore other comprehensive loss, which included a Rs 122.22 crore adverse fair-value change in equity instruments measured through other comprehensive income, partly offset by Rs 17.48 crore of related income tax.

In the September 2025 quarter, other comprehensive loss was Rs 135.46 crore and total comprehensive loss was Rs 135.47 crore. The September 2026 comprehensive loss was therefore lower by Rs 31.11 crore year on year, but it remained separate from profit after tax in the statement of profit and loss. For the half year ended September 30, 2026, other comprehensive income was Rs 22.06 crore and total comprehensive income was Rs 22.64 crore.

The unaudited results were reviewed by the audit committee and approved by the board on November 11, 2026. Kalyaniwalla & Mistry LLP issued a limited review report on the quarter and half-year financial results. The auditor stated that nothing had come to its attention to indicate the statement did not disclose the required information or contained a material misstatement.

Conclusion

Naperol Investments' September-quarter result combined a move from loss to Rs 40.15 lakh profit after tax with a trading-segment return to profit. Revenue from operations rose to Rs 3.93 crore year on year, trading shifted to Rs 8.49 lakh segment profit before tax, and other unallocable expenses declined to Rs 20.35 lakh. The half-year figures also showed higher operating cash generation of Rs 8.21 crore.

The next disclosed matter to watch is member approval through a postal ballot for Vinay Divakar Jayade's appointment as an additional non-executive, non-independent director, effective November 11, 2026 and liable to retire by rotation. Naperol Investments also appointed Jinal Shah as company secretary, compliance officer and key managerial personnel from November 11, 2026. Future quarterly disclosures will show whether trading profitability continues after the half year ended September 30, 2026.