Wakefit revenue rises 20% as September profit stays flat

Wakefit Innovations Limited reported revenue from operations of Rs 451.993 crore for the quarter ended September 30, 2026, up 19.9% from a year earlier, while profit after tax was nearly flat at Rs 15.892 crore versus Rs 15.958 crore. Higher depreciation, finance costs and tax reduced the benefit of a Rs 66.184 crore operating profit.

How did Wakefit perform in the September 2026 quarter?

Wakefit increased revenue from operations by 19.9% year on year to Rs 451.993 crore in the quarter ended September 30, 2026, from Rs 376.880 crore in the quarter ended September 30, 2025. Other income rose to Rs 16.037 crore from Rs 9.575 crore, taking total income to Rs 468.030 crore from Rs 386.455 crore.

Wakefit’s profit before tax increased 66.3% to Rs 26.544 crore from Rs 15.958 crore, but profit after tax was Rs 15.892 crore, marginally below Rs 15.958 crore a year earlier. Basic earnings per share, or EPS, were Rs 0.48 against Rs 0.52, while diluted EPS were Rs 0.47 against Rs 0.51.

Why did Wakefit’s net profit stay flat despite revenue growth?

Wakefit’s net profit stayed flat because its September 2026 pre-tax profit was reduced by a Rs 10.652 crore tax expense, comprising Rs 4.222 crore of current tax and Rs 6.430 crore of deferred tax. In the September 2025 comparative quarter, reported profit before tax and profit after tax were both Rs 15.958 crore.

Depreciation and amortisation rose to Rs 31.622 crore from Rs 27.148 crore, while finance costs increased to Rs 8.018 crore from Rs 7.330 crore. These two charges totalled Rs 39.640 crore in the latest quarter, compared with Rs 34.478 crore a year earlier, after the company reported Rs 66.184 crore of earnings before finance costs, depreciation, amortisation, exceptional items and tax.

Wakefit had recognised a net deferred-tax asset of Rs 103.440 crore at March 31, 2026 after reassessing the recoverability of carried-forward losses and unabsorbed depreciation. That reassessment resulted in a deferred-tax credit of Rs 98.071 crore in the year ended March 31, 2026, whereas the September 2026 quarter recorded deferred-tax expense of Rs 6.430 crore.

What changed in Wakefit’s costs and operating earnings?

Wakefit’s earnings before finance costs, depreciation, amortisation, exceptional items and tax rose 31.2% to Rs 66.184 crore in the September 2026 quarter from Rs 50.436 crore a year earlier. The increase exceeded the 19.9% growth in revenue from operations, while expenses before those charges rose to Rs 401.846 crore from Rs 336.019 crore.

Cost of materials consumed rose to Rs 286.812 crore from Rs 191.890 crore and employee-benefit expense increased to Rs 54.529 crore from Rs 41.931 crore. Other expenses were Rs 138.884 crore compared with Rs 134.657 crore, while inventory changes reduced expense by Rs 79.511 crore, compared with a Rs 33.964 crore reduction in the prior-year quarter.

Wakefit’s sequential revenue increased to Rs 451.993 crore in the September quarter from Rs 404.911 crore in the quarter ended June 30, 2026. However, earnings before finance costs, depreciation, amortisation, exceptional items and tax declined from Rs 72.021 crore, profit before tax fell from Rs 36.305 crore, and profit after tax declined from Rs 23.382 crore.

What do Wakefit’s half-year results show?

Wakefit reported revenue from operations of Rs 856.904 crore for the half year ended September 30, 2026, up 18.4% from Rs 724.003 crore in the corresponding 2025 half year. Total income increased to Rs 888.561 crore from Rs 741.301 crore, while profit before tax rose to Rs 62.849 crore from Rs 35.574 crore.

Wakefit’s half-year profit after tax rose 10.4% to Rs 39.274 crore from Rs 35.574 crore, after a Rs 23.575 crore tax expense in the 2026 period. Depreciation and amortisation increased to Rs 59.953 crore from Rs 52.817 crore, and finance costs rose to Rs 15.403 crore from Rs 14.803 crore.

Wakefit reports Home Furnishing as its sole reportable segment because its chief operating decision maker assesses performance at an overall-company level. The filing therefore provides no separate revenue or profit figures by product category, sales channel or geography, despite the Rs 856.904 crore half-year revenue base.

What changed in Wakefit’s balance sheet and cash flow?

Wakefit’s total assets increased to Rs 1,946.920 crore at September 30, 2026 from Rs 1,751.199 crore at March 31, 2026. Inventories rose to Rs 325.218 crore from Rs 197.554 crore, property, plant and equipment increased to Rs 170.410 crore from Rs 149.331 crore, and right-of-use assets grew to Rs 293.635 crore from Rs 238.651 crore.

Wakefit’s total equity was Rs 1,173.536 crore at September 30, 2026, compared with Rs 1,131.820 crore at March 31, 2026. Current liabilities rose to Rs 521.585 crore from Rs 419.501 crore, including trade payables to creditors other than micro and small enterprises of Rs 294.817 crore, up from Rs 157.768 crore.

Wakefit reported net cash generated from operating activities of Rs 38.844 crore for the half year ended September 30, 2026, down from Rs 78.797 crore in the prior-year half. Cash and cash equivalents fell to Rs 28.384 crore at September 30, 2026 from Rs 88.486 crore at the start of the period, alongside Rs 55.116 crore of net cash used in investing activities and Rs 43.830 crore used in financing activities.

How comparable are Wakefit’s prior-year quarterly figures?

Wakefit’s September 2025 quarterly and half-year figures were approved by its board but were neither limited-reviewed nor audited by the statutory auditors. The company said quarterly reporting became applicable only after its equity shares were listed on the National Stock Exchange of India and BSE Limited on December 15, 2025.

Wakefit’s September 2026 results were reviewed by B S R & Co. LLP and approved by the audit committee and board on November 12, 2026. The company stated that the results were prepared under Indian Accounting Standard 34, Interim Financial Reporting, and that it has no subsidiary, associate or joint venture as at September 30, 2026.

Conclusion

Wakefit delivered higher September-quarter sales and a larger pre-tax and operating result, with revenue from operations rising 19.9% to Rs 451.993 crore and profit before tax rising to Rs 26.544 crore. Reported profit after tax was nevertheless virtually unchanged at Rs 15.892 crore because depreciation, finance costs and tax absorbed the improvement below the operating line.

The next disclosed issue to watch is Wakefit’s planned use of initial public offering proceeds for strategic initiatives, including investments towards retail-network expansion. Wakefit is also monitoring central and state rules and government clarifications on the four Labour Codes after recognising a Rs 3.759 crore exceptional employee-benefit impact in the year ended March 31, 2026.