La Opala Q2 FY27: standalone PAT falls 5.5% YoY to ₹25.3 Cr as margins compress on costs

La Opala RG's standalone revenue grew 11.5% YoY to ₹101.37 Cr (₹90.90 Cr) in Q2 FY27, but net profit fell 5.5% YoY to ₹25.30 Cr (₹26.78 Cr) as margins compressed — OPM eased to 35.6% from 38.7% and NPM to 24.0% from 27.5%. Sequentially, revenue jumped 42.1% over Q1's ₹71.36 Cr on typical festive-season seasonality for the glass and glassware category, but PAT still slipped 3.5% QoQ, showing the margin pressure isn't just a high comparison base. The squeeze traces to two cost lines outpacing the topline: power and fuel costs rose 19.4% YoY to ₹16.22 Cr, climbing to 16.0% of revenue from 14.9%, and employee costs rose 16.4% YoY to ₹17.35 Cr. Other income also fell 37.4% YoY to ₹4.02 Cr (₹6.42 Cr) and 70.6% QoQ from Q1's elevated ₹13.69 Cr — this line captures fair-value gains on investments, is lumpy rather than operational, and its decline accounts for a meaningful share of the reported PAT drop. Even stripping it out, core pre-tax profit (PBT less other income) rose only 2.6% YoY to ₹29.50 Cr against 11.5% revenue growth, confirming the compression sits in operations as well as in investment income. There is no prior management guidance or concall commentary on record for this company, and no analyst consensus specific to this quarter turned up in a search, so the print cannot be benchmarked against a stated bar — it stands on its own numbers. Separately, the company disclosed CFO Alok Pandey's retirement effective December 31, 2026 after a 38-year tenure, attributed to health reasons with no other material cause confirmed — a governance disclosure made alongside, but not tied to, this quarter's financial performance.