Submission of Unaudited Financial Results For the quarter and Half Year ended on 30th September, 2025.
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Darjeeling Ropeway Company Limited (BSE Code: 539770) reported a strong turnaround in Q2 FY26. Revenue from operations rose about 28% year-on-year to Rs 116.16 lakhs (vs Rs 91.01 lakhs in Q2 FY25). The company swung from a loss of Rs 10.02 lakhs in Q2 FY25 to a profit after tax of Rs 74.98 lakhs in Q2 FY26, with EPS of Rs 2.46. For the half-year, PAT jumped to Rs 57.62 lakhs from Rs 20.74 lakhs, an increase of around 178%. Results were boosted by an unusually large 'Other Income' of Rs 64 lakhs in the quarter. The auditor (Sunit M Chhatbar & Co.) issued an unqualified review report. On the balance sheet, the company received Rs 294 lakhs via share warrants, fully paid off its short-term borrowings of Rs 125.82 lakhs, and its cash position more than doubled to Rs 299.87 lakhs.
The headline turnaround looks positive, but investors should note that operating cash flow was actually negative at Rs (69.47) lakhs for H1 FY26, meaning the reported profit was driven mainly by a one-time Rs 64 lakh other income and favourable working capital movements. Despite this, the company is now debt-free with a stronger cash balance and raised equity, which supports short-term stability.