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Jungle Camps India reported a weak set of unaudited results for Q2 FY26 (quarter ended September 30, 2025), with standalone revenue from operations falling sharply to ₹57.27 lakhs from ₹248.02 lakhs in Q1 FY26. The company swung to a standalone loss after tax of ₹46.55 lakhs (vs. a profit of ₹50.36 lakhs in Q1) and a consolidated loss after tax of ₹120.89 lakhs (vs. profit of ₹113.09 lakhs). Management attributed the sharp revenue decline to the seasonal closure of Pench, Kanha, and Tadoba National Parks for jungle safaris between July 1 and September 30, 2025, making it the off-season for wildlife resorts. Standalone EPS turned negative at ₹(0.30). The auditor (R.A. Kila & Co.) issued an unqualified limited review report. Separately, the company disclosed ₹938.28 lakhs of IPO proceeds utilised so far out of ₹2,942.21 lakhs raised in December 2024, with a Special Resolution passed on July 22, 2025 to vary the original objects. The company also acquired land near Panna Tiger Reserve on October 16, 2025 for a new wildlife resort.
The Q2 results reflect seasonality rather than structural weakness, but shareholders should note the steep revenue drop and return to losses during the off-season. The continued expansion (new Panna property, subsidiary investments) signals growth ambition, though execution and timely deployment of unutilised IPO funds (~₹1,653.93 lakhs) remain key things to watch.