In terms of Regulation 33 and Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we would like to inform to you ....
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Trade Wings Ltd's Board, on 12 February 2026, approved the unaudited standalone and consolidated financial results for Q3 FY26 (quarter ended 31 December 2025) along with the Limited Review Report by A N Shah & Associates, which was clean with no qualifications. On a standalone basis, revenue from operations stood at Rs. 5,559.24 lakhs (vs Rs. 5,540.66 lakhs in Q3 FY25), with a net profit of Rs. 7.69 lakhs and EPS of Rs. 0.26; the 9-month standalone PAT swung back to a profit of Rs. 9.22 lakhs from a loss of Rs. 62.07 lakhs a year ago. On a consolidated basis, Q3 revenue was Rs. 6,712.31 lakhs and PAT was Rs. 121.49 lakhs (compared to a Rs. 194.17 lakh loss in Q2 FY26), but the 9-month consolidated PAT remained negative at Rs. 56.89 lakhs against a Rs. 41.14 lakh profit in the prior-year period. The wholly-owned subsidiary Trade Wings Hotels Ltd contributed Rs. 2,464.64 lakhs in revenue but a Rs. 66.10 lakh loss; no impairment was made as management expects positive trends on a going concern basis. The company also booked an additional Rs. 58.47 lakh provision toward gratuity and compensated absences following the implementation of the four new labour codes effective 21 November 2025.
For shareholders, the quarterly turnaround on a consolidated basis is encouraging, but the 9-month consolidated bottom line is still in the red and the subsidiary continues to drag overall profitability. Thin standalone margins, rising finance costs (Rs. 134.16 lakhs in Q3 vs Rs. 57.42 lakhs a year ago), and reliance on the subsidiary's recovery mean limited near-term positive catalysts for the stock.