Outcome of Board meeting - Unaudited Financial results for the quarter and half year ended 30.09.2025
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Nettlinx reported a weak Q2 FY26 with standalone income from operations at Rs. 326.93 lakhs, down from Rs. 469.90 lakhs in Q2 FY25, and H1 FY26 revenue falling about 35% to Rs. 611.39 lakhs versus Rs. 943.38 lakhs a year ago. The company swung to a standalone loss before exceptional items of Rs. 68.07 lakhs in Q2, and booked an exceptional loss of Rs. 445.86 lakhs (consolidated Rs. 460.20 lakhs) on the sale of its subsidiary Sri Venkateswara Green Power Projects Ltd, completed on 6 August 2025. Standalone PAT was a loss of Rs. 509.66 lakhs for the quarter (vs profit of Rs. 115.18 lakhs in Q2 FY25), taking H1 FY26 PAT loss to Rs. 557.90 lakhs and consolidated H1 PAT loss to Rs. 576.26 lakhs. Operating cash flow was negative at Rs. 224 lakhs standalone and Rs. 434 lakhs consolidated in H1. Additionally, the company made a bad debts provision of Rs. 131.78 lakhs during the quarter. The auditor issued a limited review report with an unmodified opinion but included an Emphasis of Matter paragraph.
Shareholders face deteriorating core performance with both revenue shrinking sharply and the company moving from profit to loss, compounded by a large one-time loss on sale of a subsidiary and weak cash generation. This is a negative signal for near-term earnings and could pressure the stock, although the divestment cleans up the group structure going forward.