NMS Global Q2 revenue doubles as profit falls 49% year-on-year

NMS Global Limited reported consolidated revenue from operations of Rs 5.75 crore for the quarter ended 30 September 2026, nearly double the Rs 2.87 crore reported a year earlier, while profit for the period fell 49% to Rs 18.74 lakh from Rs 37.08 lakh as total expenses rose to Rs 5.50 crore.

Why did NMS Global’s Q2 profit fall despite revenue growth?

NMS Global’s profit fell because total expenses increased by more than revenue during the September 2026 quarter. Revenue from operations increased by Rs 2.88 crore from Rs 2.87 crore in the September 2025 quarter, while total expenses rose by Rs 3.11 crore from Rs 2.40 crore to Rs 5.50 crore. Profit before tax consequently declined to Rs 24.22 lakh from Rs 50.11 lakh.

The largest movement was in purchases of materials and services, which rose to Rs 4.41 crore in the September 2026 quarter from Rs 74.51 lakh a year earlier. Other expenses increased to Rs 68.92 lakh from Rs 6.69 lakh, and finance costs rose to Rs 18.32 lakh from Rs 11.99 lakh. Depreciation and amortisation, by contrast, fell to Rs 5.74 lakh from Rs 11.71 lakh.

NMS Global reported no exceptional items in either September quarter, meaning the lower profit before tax followed the ordinary income and expense lines in the results. Tax expense fell to Rs 5.48 lakh from Rs 13.03 lakh, which reduced the effect of the pre-tax decline, but profit for the period still decreased by Rs 18.34 lakh.

How did NMS Global’s Q2 results compare year on year?

NMS Global delivered sharply higher revenue but lower earnings in the quarter ended 30 September 2026 compared with the quarter ended 30 September 2025. Revenue from operations rose by nearly 100% to Rs 5.75 crore, while profit for the period declined by about 49% to Rs 18.74 lakh. Total income was Rs 5.75 crore, compared with Rs 2.90 crore in the prior-year quarter.

Other income was nil in the September 2026 quarter, against Rs 2.33 lakh a year earlier. Total expenses accounted for Rs 5.50 crore of the current-quarter income, compared with Rs 2.40 crore in the year-earlier period. The filing reported total comprehensive income of Rs 18.76 lakh for the September 2026 quarter and Rs 37.08 lakh for the September 2025 quarter.

Basic and diluted earnings per share were each Rs 0.62 in the September 2026 quarter, down from Rs 1.23 in the corresponding quarter of 2025. The figures are based on paid-up equity share capital of Rs 3.01 crore, with a face value of Rs 10 per share, and the filing states that quarterly earnings per share are not annualised.

What changed for NMS Global sequentially in Q2?

NMS Global increased both revenue and profit from the June 2026 quarter, although September-quarter profit remained below the prior-year level. Revenue from operations rose from Rs 2.36 crore in the June quarter to Rs 5.75 crore in the September quarter. Profit for the period increased from Rs 6.83 lakh to Rs 18.74 lakh, while profit before tax rose from Rs 8.89 lakh to Rs 24.22 lakh.

The sequential revenue increase came with higher costs in several lines. Purchases of materials and services rose from Rs 1.65 crore in the June quarter to Rs 4.41 crore in the September quarter, while other expenses increased from Rs 19.91 lakh to Rs 68.92 lakh. Finance costs were Rs 18.32 lakh, compared with Rs 15.88 lakh in the preceding quarter, and depreciation and amortisation decreased from Rs 6.29 lakh to Rs 5.74 lakh.

For the half year ended 30 September 2026, NMS Global reported revenue from operations of Rs 8.10 crore and profit for the period of Rs 25.57 lakh. The comparative half-year figures were revenue of Rs 5.46 crore and profit of Rs 47.99 lakh. The Rs 2.65 crore revenue increase over the half year was therefore accompanied by a Rs 22.42 lakh reduction in profit.

What do NMS Global’s balance sheet and cash flows show?

NMS Global reported total assets of Rs 103.25 crore at 30 September 2026, compared with Rs 95.89 crore at 31 March 2026. Non-current assets increased to Rs 70.93 crore from Rs 41.09 crore, primarily reflecting other non-current assets of Rs 66.71 crore, compared with Rs 36.86 crore at the March year-end.

Current assets fell to Rs 32.32 crore at 30 September from Rs 54.80 crore at 31 March. Sundry debtors declined to Rs 11.96 crore from Rs 35.88 crore, while inventories were Rs 15.67 crore compared with Rs 15.85 crore. Cash and cash equivalents increased to Rs 1.14 crore from Rs 1.08 crore over the same period.

The consolidated cash-flow statement reported operating cash inflow of Rs 29.93 crore for the period ended 30 September 2026 and investing cash outflow of Rs 29.97 crore. It also reported net financing cash inflow of Rs 9.78 lakh and a net increase in cash and cash equivalents of Rs 6.67 lakh. The investing outflow included Rs 29.88 crore related to the increase or decrease in other non-current assets.

Net share capital was Rs 2.92 crore at 30 September 2026, compared with Rs 2.67 crore at 31 March 2026. Total non-current liabilities rose to Rs 51.70 crore from Rs 38.51 crore, including other non-current liabilities of Rs 50.12 crore. Current liabilities were Rs 48.62 crore, compared with Rs 54.72 crore at the March year-end.

Were NMS Global’s September 2026 results reviewed?

NMS Global’s board approved the standalone and consolidated financial results on 14 November 2026 after review and recommendation by its audit committee. The filing states that statutory auditors conducted a limited review of the results for the quarter and half year ended 30 September 2026, rather than an audit.

The independent auditor reviewed the consolidated results under Standard on Review Engagements 2410, which the report says involves inquiries and analytical procedures and provides less assurance than an audit. The report covered NMS Global and eight subsidiaries, including GEO IT Skills Private Limited and NMS Enterprises Limited, and stated that nothing had come to the auditor’s attention to indicate a material misstatement.

The filing also states that NMS Global had no investor complaints pending at the half-year end of 30 September 2026. The results were prepared under Indian Accounting Standard 34, Interim Financial Reporting, and Regulation 33 of the Securities and Exchange Board of India listing regulations, according to the notes.

Conclusion

NMS Global’s September-quarter result combined a near-doubling of consolidated revenue to Rs 5.75 crore with a 49% year-on-year fall in profit to Rs 18.74 lakh. Purchases of materials and services, other expenses and finance costs increased while profit before tax declined to Rs 24.22 lakh, despite the revenue expansion.

The filing discloses no revenue target, operating plan or date for the next results announcement. The reported matters to watch are whether the September-quarter cost movements continue, and how the Rs 66.71 crore of other non-current assets and the related Rs 29.88 crore cash-flow movement develop in subsequent disclosures.