Diamond Power Infrastructure Q2 Profit Skyrockets 349%

Revenue grew by 135.4% to Rs 1,031.90 crore; Net profit reached Rs 107.88 crore.

Reader Takeaway: Robust operational growth and legal clearance provide momentum, though auditor PPE adjustments require continued investor oversight.

What just happened

Diamond Power Infrastructure released its Q2 FY27 results, showcasing significant growth across all key financial metrics. Revenue from operations soared to Rs 1,031.90 crore from Rs 438.33 crore in the year-ago period. Profit Before Tax climbed 332.8% to Rs 108.64 crore, while Net Profit reached Rs 107.88 crore, a 349% increase compared to Q2 FY26.

Why this matters

The company has secured a major legal milestone, announcing it has been discharged from CBI, ED, and PMLA-related matters. Management stated this development is critical for unlocking asset liquidity, improving working capital access, and aiding recovery of pre-NCLT receivables. Additionally, the board approved a Rs 170 crore investment in a new integrated polymer complex in Vadodara, aimed at achieving full vertical integration for its cable manufacturing business.

QIP Fund Utilization

As of September 30, 2026, the company has utilized Rs 1,097.78 crore out of the Rs 1,613.97 crore raised via Qualified Institutional Placement (QIP). The remaining Rs 516.19 crore is held in bank fixed deposits for future object-specific deployment.

Auditor and Tax Notes

The statutory auditors provided an unmodified opinion on the results. However, they included an 'Emphasis of Matter' regarding a comprehensive reconciliation of Property, Plant and Equipment (PPE) records, which led to retrospective adjustments in capital reserves and retained earnings. Regarding taxes, the company has not made any provision for income tax for the current quarter, leveraging brought-forward unabsorbed losses and depreciation.