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RPSG Ventures Ltd Q1 FY27 Results

RPSGVENTQ1 FY27 Results
Filing
Result:Good· Market: Up#One-off hit#Margin expansion#Broad based

Beat/Miss: Inline

MetricValue (₹ Cr)Q4 FY26Q1 FY26
Revenue3.6K22.2%20.4%
Total Income3.6K22.4%20.3%
Expenditure3.2K9.2%19.9%
PBT309.7314242.9%0.8%
Net Profit253.09451.5%0.8%
OPM18.57%5.97pp1.63pp
NPM7.04%9.49pp1.37pp
EPS27.5358.4%9.6%
View full financials

IT/services core metric — constant-currency-like revenue growth of 20.4% YoY with margin expansion is healthy, and adjusted PAT growth of ~29% (after stripping the one-off Firstsource charge) is a clean beat, though reported PAT is capped by the exceptional item so it falls short of very_good.

Q1 FY-2027 RESULTS · RPSGVENT

RPSG Ventures Q1: PAT flat at ₹253cr on one-off; adjusted profit up ~29% YoY, revenue +20%

PAT +0.8% YoY · revenue +20.36% · margins expanding · inline vs street

13 Aug 2026 · 3 min read
Revenue

₹3,576.44 Cr

+20.36% YoY

PAT (consolidated)

₹253.09 Cr

+0.8% YoY

Net margin

7.04%

-1.4pp YoY

EPS

₹27.53

RPSG Ventures' consolidated revenue for Q1 FY27 (quarter ended June 30, 2026) rose 20.4% YoY to ₹3,576.44 Cr (up 22.2% QoQ, though the sequential jump is exaggerated by seasonality — see below). Consolidated profit for the period (including non-controlling interest) was ₹253.09 Cr, up a modest 0.8% YoY from ₹251.09 Cr — a headline that undersells the quarter. Stripping out a ₹71.69 Cr exceptional charge booked at Firstsource Solutions, adjusted PAT was ~₹324.8 Cr, up roughly 29% YoY, broadly consistent with Firstsource's own reported ~31% normalized PAT growth for the quarter. PAT attributable to RPSG Ventures' own shareholders (excluding NCI) grew a cleaner 9.6% YoY to ₹91.09 Cr, lifting basic EPS to ₹27.53 from ₹25.11.

The scoreboard

Q1 FY-2027 vs prior quarters

Consolidated P&L, ₹ Crore
Q1 FY-2027QoQYoY
Revenue₹3,576.44 Cr+22.2%+20.4%
Expenses₹3,211.36 Cr+9.2%+19.9%
PAT₹253.09 Cr—+0.8%
Net margin7.04%+9.5pp-1.4pp
EPS₹27.53+58.4%+9.6%

The exceptional item — ₹35.67 Cr from a terminated client contract deemed non-recoverable, ₹28.38 Cr of regulatory-penalty indemnification owed to a customer, and ₹7.64 Cr of contingent-consideration fair-value adjustment — sits entirely within one Firstsource subsidiary and is what separates the flat reported PAT from the strong underlying trend. Operating margin (EBITDA/revenue) expanded to roughly 21% from 20.2% a year ago, consistent with Firstsource's own EBIT margin rising 110bps YoY to 12.4% on execution efficiency; net margin compressed to 7.1% from 8.4% on a reported basis purely because of the one-off, tax-unadjusted charge — the adjusted net margin (~9.1%) is actually higher YoY.

₹
806.13867.79929.45991.111,052.77936.105-1106-0306-2507-2008-1108-13Q1 FY-2027 results
The tape into the print — daily closes, last 3 months

The stock went into the print at ₹936.1, up 4.6% over the past month of trading.

₹ Cr
-183.03-22.08138.87299.8212.32Q4 FY25rev ₹2,541 Cr251.09Q1 FY26rev ₹2,971 Cr-41.13Q2 FY26rev ₹2,668 Cr-136.3Q3 FY26rev ₹2,756 Cr-72Q4 FY26rev ₹2,927 Cr253.09Q1 FY27rev ₹3,576 Cr
Quarterly consolidated PAT, ₹ Crore

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 6-quarter high.

Firstsource — RPSG's dominant subsidiary at ~79% of group revenue — posted revenue within the ₹2,610-2,939 Cr street estimate range (inline), and reconfirmed its FY27 guidance of 10-13% constant-currency revenue growth and 12.25-12.75% EBIT margin; RPSG Ventures itself issues no separate group-level guidance. FMCG (Too Yumm! and related brands) grew revenue 25.9% YoY to ₹170.01 Cr while narrowing its segment loss 26% YoY to ₹45.90 Cr — still loss-making but scaling. The Sports segment (Lucknow Super Giants, ATK Mohun Bagan, Manchester Originals) swung from a ₹84.73 Cr segment loss in the seasonally weak Q4 to a ₹296.25 Cr profit this quarter — this is the IPL season concentrating income in Q1, not new momentum, since the true Q1-to-Q1 comparison shows revenue up just 5.8% and segment profit up only 1.6%.

  • W1

    Recovery of the ₹35.67 Cr Firstsource client-termination receivable and progress on the ₹28.38 Cr insurance indemnity claim — resolution will move reported (vs adjusted) PAT in coming quarters

  • W2

    Firstsource's reaffirmed FY27 guidance of 10-13% constant-currency revenue growth and 12.25-12.75% EBIT margin — track Process Outsourcing segment against this since it drives ~79% of group revenue

  • W3

    Approvals and progress on the Woodlands Multispeciality Hospital scheme of arrangement into Clarionix Healthcare (appointed date April 1, 2027)

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