ITI: consolidated PAT +21% YoY to ₹12.4 Cr on associate gains, revenue -15%
PAT +21.28% YoY · revenue -15.32% · margins expanding
₹59.36 Cr
-15.32% YoY
₹12.38 Cr
+21.28% YoY
18.96%
+5.8pp YoY
₹2.37
The Investment Trust of India's consolidated PAT came in at ₹12.38 Cr for Q1 FY27, up 21.3% YoY from ₹10.21 Cr and up 103.2% QoQ from ₹6.09 Cr, on consolidated revenue from operations of ₹59.36 Cr, down 15.3% YoY from ₹70.10 Cr but up 11.7% QoQ from ₹53.12 Cr. EPS was ₹2.37 against ₹1.75 a year ago. Net profit margin expanded sharply to 18.96% of total income from 13.21% YoY and 10.99% QoQ.
Q1 FY-2027 vs prior quarters
The headline YoY move is not like-for-like: the company states in Note 5 that ITI Gold Loans Ltd became an equity-accounted associate (rather than a consolidated subsidiary) with effect from November 30, 2025, so the current quarter's figures are not directly comparable to the year-ago quarter. That reclassification shows up directly in the numbers — the financing-activities segment's revenue fell 79.8% YoY to ₹5.64 Cr and its segment result swung to a ₹0.95 Cr loss from a ₹13.45 Cr profit a year ago, while the group's "share of profit of associates" line (which now captures Gold Loans' contribution instead) jumped 249% YoY to ₹5.96 Cr and did most of the work in lifting PBT to ₹14.80 Cr. Within the operating segments, asset management (+33.6% YoY revenue to ₹17.55 Cr, segment result up 4.3x to ₹4.09 Cr) and investment & advisory (+63.6% YoY revenue to ₹11.01 Cr, result up ~4x to ₹1.98 Cr) were the genuine growth engines; broking & related services, the largest segment, was roughly flat (revenue -2.0% YoY to ₹35.89 Cr, result -10.6% YoY to ₹6.60 Cr).
The stock went into the print at ₹96.9, up 0.8% over the past month of trading.
There is no analyst/street coverage on record for this stock, and a search turned up no relevant consensus estimates (results for an unrelated, similarly-named company surfaced instead), so vsStreet is unknown. The company has issued no formal guidance and there is no prior concall on record, so there is nothing to grade the print against on that front either. Separately from the results, the Board today withdrew its earlier (May 9, 2025) proposal to transfer the AIF fund-management business (ITI Long Short Fund and its offshore feeder) to subsidiary ITI AMC, citing lapsed regulatory approvals, and it also has a pending scheme (appointed date April 1, 2026, subject to regulatory approval) to merge four wholly-owned subsidiaries — ITI Gilts, ITI Wealth Management, ITI Alternate Funds Management and Fortune Management Advisors — into the parent.
W1
Financing segment's path back to profit after posting a ₹0.95 Cr segment loss this quarter post-Gold Loans deconsolidation.
W2
Durability of the ₹5.96 Cr share of associate profit (vs ₹1.71 Cr YoY) that drove most of this quarter's PBT growth — a normalization would flip the YoY profit narrative.
W3
Regulatory approval and completion of the ITI Gilts/ITI Wealth Management/ITI Alternate Funds Management/Fortune Management Advisors merger into the parent (appointed date April 1, 2026), which will reshape segment consolidation scope.