Q2 FY26 revenue rises but company returns to loss; tax dispute flagged
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On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 2.8 pts less than its Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Unaudited Q2 and half-year FY26 group results show Q2 revenue up 3.3% at Rs 1,091.04 crore, but shareholders moved from Rs 17.43 crore profit to Rs 19.53 crore loss. Half-year revenue fell 1.5% to Rs 2,147.27 crore; shareholders reported a Rs 2.10 crore loss versus Rs 120.25 crore profit. An unmodified review highlighted a tax dispute involving Rs 281.59 crore of tax reduction. The company is challenging it; no adjustment was made.
Higher Q2 revenue did not prevent a return to loss, while the unresolved tax issue adds uncertainty. The share price may come under pressure.