Harmony Capital Services Reports Q2 Net Profit Of Rs 1.13 Crore

Revenue for the September 2026 quarter reached Rs 34.91 crore, up from nil in the previous year's corresponding quarter.

Reader Takeaway: Strong revenue scaling marks a turnaround, though negative operating cash flow requires close monitoring by investors.

What just happened

Harmony Capital Services released its unaudited standalone financial results for the quarter ended September 30, 2026, which were approved by the board on November 6, 2026. The auditor, M/s. Kale Malde & Co., provided a limited review report with no qualifications. The company achieved a net profit of Rs 1.13 crore, a significant improvement from the Rs 0.02 crore loss recorded in the same quarter last year.

Why this matters

The jump to Rs 34.91 crore in revenue demonstrates an aggressive operational scale-up from a near-zero base. This revenue growth allowed the company to move into profitability, with an Earnings Per Share (EPS) of 0.93 for the quarter. The company also successfully raised Rs 9.13 crore through the issuance of share capital, strengthening its asset base to Rs 23.32 crore compared to Rs 1.17 crore as of March 31, 2026.

Risks to watch

While top-line growth is robust, the company reported negative net cash from operating activities of Rs 8.97 crore for the half-year. This is primarily attributed to rising trade receivables and payables. Future quarters will need to demonstrate the company's ability to convert this reported revenue into stable cash flows to sustain operations without reliance on fresh capital issuance.

What to track next

Investors should monitor the sustainability of the newly established revenue streams and observe how the management optimizes working capital cycles. Continued expansion of the balance sheet will also be a key metric to track in upcoming filings.