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Asian Energy Services Q2 FY27 results: net profit ₹17.07 crore vs ₹3.03 crore loss, revenue up 161.4%
Asian Energy Services Limited reported consolidated revenue of ₹266.67 crore for Q2 FY27, up 161.4% from ₹102 crore in the year-ago quarter, with profit after tax of ₹17.07 crore against a net loss of ₹3.03 crore a year earlier. Basic EPS was ₹3.41, up from a loss of ₹0.87 in Q2 FY26, and EBITDA rose to ₹31.34 crore with the margin widening by 3.8 percentage points to 11.8%.
Key points
- Consolidated revenue for Q2 FY27 was ₹266.67 crore, up 161.4% from ₹102 crore in Q2 FY26.
- EBITDA rose to ₹31.34 crore from ₹8.11 crore, and the EBITDA margin widened by 3.8 percentage points to 11.8%.
- Profit after tax was ₹17.07 crore against a net loss of ₹3.03 crore in Q2 FY26, while basic EPS was ₹3.41.
- Against Q1 FY27, revenue fell 1.7% to ₹266.67 crore, EBITDA rose 48.2% and profit after tax rose 33.8%.
- For H1 FY27, revenue was ₹537.86 crore and profit after tax was ₹29.83 crore, compared with ₹217.36 crore and ₹3.2 crore in H1 FY26.
How did Asian Energy Services perform in Q2 FY27?
Asian Energy Services reported consolidated revenue of ₹266.67 crore for Q2 FY27, against ₹102 crore in Q2 FY26 and ₹271.19 crore in Q1 FY27. EBITDA was ₹31.34 crore, up from ₹8.11 crore a year earlier and ₹21.15 crore in the previous quarter. The EBITDA margin was 11.8%, a rise of 3.8 percentage points from the year-ago quarter and 4.0 percentage points from Q1 FY27.
Profit before tax was ₹24.98 crore, against a loss of ₹2.68 crore in Q2 FY26 and ₹16.32 crore in Q1 FY27. After tax of ₹6.89 crore, profit after tax was ₹17.07 crore, compared with a net loss of ₹3.03 crore a year earlier and ₹12.76 crore in the previous quarter. Basic EPS was ₹3.41, against a loss of ₹0.87 in Q2 FY26 and ₹2.53 in Q1 FY27.
On a standalone basis, the company reported revenue of ₹129.55 crore for the quarter and profit after tax of ₹15.09 crore, against ₹61 crore of revenue and profit after tax of ₹1.84 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 266.67 | 271.19 | 102 | +161.4% | −1.7% |
| Other income | 1.79 | 3.32 | 1.23 | +45.5% | −46.1% |
| Total expenses | 243.48 | 258.18 | 100.30 | +142.8% | −5.7% |
| EBITDA | 31.34 | 21.15 | 8.11 | +286.4% | +48.2% |
| EBITDA margin | 11.8% | 7.8% | 8.0% | +3.8 pp | +4.0 pp |
| Profit before tax | 24.98 | 16.32 | −2.68 | turned to profit | +53.1% |
| Tax | 6.89 | 4.35 | 1.30 | +430.0% | +58.4% |
| Net profit | 17.07 | 12.76 | −3.03 | turned to profit | +33.8% |
| EPS (₹) | 3.41 | 2.53 | −0.87 | turned to profit | +34.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Asian Energy Services' costs and profit?
Total expenses rose to ₹243.48 crore from ₹100.30 crore in Q2 FY26, an increase of ₹143.18 crore, and were lower than ₹258.18 crore in Q1 FY27. Other expenses were ₹215.23 crore, up ₹128.38 crore from ₹86.85 crore a year earlier and down ₹16.26 crore from the previous quarter. Employee cost rose ₹13.06 crore to ₹20.08 crore, while finance costs rose ₹1.93 crore to ₹3.64 crore.
Depreciation was ₹4.51 crore, down ₹0.19 crore from ₹4.70 crore in the year-ago quarter and up ₹0.13 crore from Q1 FY27. Cost of materials was unchanged, and there was no exceptional item in Q2 FY27, against an exceptional charge of ₹5.61 crore in Q2 FY26. Other income rose to ₹1.79 crore from ₹1.23 crore a year earlier and was lower than ₹3.32 crore in the previous quarter. Tax rose ₹5.59 crore to ₹6.89 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 20.08 | 7.02 | +13.06 | +186.0% |
| Finance costs | 3.64 | 1.71 | +1.93 | +112.9% |
| Depreciation | 4.51 | 4.70 | −0.19 | −4.0% |
| Other expenses | 215.23 | 86.85 | +128.38 | +147.8% |
| Total expenses | 243.48 | 100.30 | +143.18 | +142.8% |
| Other income | 1.79 | 1.23 | +0.56 | +45.5% |
| Tax | 6.89 | 1.30 | +5.59 | +430.0% |
| Exceptional items | none | −5.61 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹537.86 crore against ₹217.36 crore in H1 FY26, a rise of ₹320.50 crore or 147.5%. Total income was ₹542.97 crore, up ₹322.39 crore or 146.2% from ₹220.58 crore, while profit before tax rose to ₹41.3 crore from ₹5.17 crore.
Profit after tax for the first half was ₹29.83 crore against ₹3.2 crore in H1 FY26, an increase of ₹26.63 crore. Basic EPS for the half was ₹5.94, up ₹5.57 from ₹0.37 in the previous first half.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 537.86 | 217.36 | +147.5% |
| Profit before tax | 41.30 | 5.17 | +698.8% |
| Net profit | 29.83 | 3.20 | +832.2% |
| EPS (₹) | 5.94 | 0.37 | +1505.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹983.25 crore as on 30 September 2026, against ₹918.41 crore as on 31 March 2026. Total equity was ₹622.42 crore against ₹494.98 crore, borrowings were ₹156.75 crore against ₹158.12 crore, and cash was ₹67.12 crore against ₹108.75 crore. Trade receivables were ₹404.37 crore compared with ₹347.73 crore, and trade payables were ₹170.22 crore compared with ₹229.58 crore.
For the first half, net cash used in operating activities was ₹94.24 crore, against ₹72.7 crore in H1 FY26. Net cash used in investing activities was ₹29.49 crore, against net cash from investing activities of ₹42.47 crore a year earlier, while net cash from financing activities was ₹83.36 crore against ₹79.79 crore. Capital expenditure was ₹11.7 crore, against ₹38.98 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 983.25 | 918.41 |
| Total equity | 622.42 | 494.98 |
| Borrowings | 156.75 | 158.12 |
| Cash and equivalents | 67.12 | 108.75 |
| Inventories | 0.10 | 0.29 |
| Trade receivables | 404.37 | 347.73 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −94.24 | −72.70 |
| Cash from investing | −29.49 | 42.47 |
| Cash from financing | 83.36 | 79.79 |
| Capital expenditure | 11.70 | −38.98 |
Source: Company's results filing (XBRL).
How has Asian Energy Services done over the last 8 quarters?
Revenue rose in each of the last seven quarters. It reached its highest level in Q4 FY26 at ₹338.23 crore and its lowest in Q3 FY25 at ₹91.69 crore, before easing to ₹271.19 crore in Q1 FY27 and ₹266.67 crore in Q2 FY27. Profit after tax was highest in Q4 FY26 at ₹32.65 crore and bottomed at a loss of ₹3.03 crore in Q2 FY26.
The EBITDA margin reached its highest point at 14.6% in Q4 FY25 and its lowest at 7.8% in Q1 FY27, before recovering to 11.8% in Q2 FY27. Over that quarter, revenue fell 1.7% from Q1 FY27 while profit after tax rose from ₹12.76 crore to ₹17.07 crore.
Which businesses drove the quarter?
The oil and gas segment reported revenue of ₹239.75 crore and EBIT of ₹42.81 crore in Q2 FY27, giving an EBIT margin of 17.9%. The filing did not provide the year-ago revenue or EBIT for this segment, so no growth figure can be stated for the period.
Mineral and other energy services reported revenue of ₹26.92 crore, down 0.5% from ₹27.07 crore in the year-ago quarter, and EBIT of ₹4.31 crore against ₹3.81 crore. The EBIT margin for the segment was 16.0%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Oil and gas | 239.75 | 42.81 | 17.9% | |
| Mineral and other energy services | 26.92 | −0.5% | 4.31 | 16.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited financial results for the quarter and half year ended 30 September 2026 on both a standalone and consolidated basis, along with the limited review report of the statutory auditors. The board also took note of the National Company Law Tribunal, Mumbai bench order dated 29 September 2026 sanctioning the scheme of merger by absorption of Oilmax Energy Private Limited with Asian Energy Services Limited, and authorised the filing of Form INC-28 with the Registrar of Companies.
The board approved the appointment of Ms. Angira Singhvi as an Additional Director (Non-Executive Independent) for a term of five consecutive years from 30 October 2026 to 29 October 2031, subject to shareholder approval. It approved a proposal for the company to become a member of a proposed company limited by guarantee, to be incorporated as a Section 8 company in the name and style of Asian Energy Foundation or such other name as may be approved. The board also approved changes in senior management personnel, including the designation of Ms. Mukta Sharma as Group Chief Human Resources Officer, with effect from 30 October 2026.
What did Asian Energy Services' management say?
Management said in the investor presentation that the company remained on track with the guidance provided for FY27. It said the execution of the Revenue Sharing Contract of the GK Offshore block marked a significant milestone in the growth journey, and that the Oilmax merger had received approval from the NCLT and was awaiting final approval from the Government.
Management said Kuiper's operations stabilised during the quarter, while the evolving geopolitical environment in West Asia remained a key monitorable. It reported an order book of INR 1,633 crore, excluding GST, and a gross debt-to-equity ratio of 0.25x.
How did Asian Energy Services shares react?
After the filing, the stock was down 4.1% at five minutes, 4.9% at 15 minutes and 4.1% at 30 minutes, from the price when the filing appeared. On the reaction day it closed 3.2% below its previous close, and by the next day's close it was down 3.5% from that pre-results close.
Over the reaction day, the median move of the industry's other stocks was 1.7%, while the Nifty Microcap 250 rose 1.4%. The stock therefore lagged the industry median by 4.9 percentage points on the reaction day and by 5.2 percentage points by the next day's close. Earlier reaction-day moves were down 7.2% on 13 August 2026, up 8.7% on 19 May 2026 and up 7.6% on 13 February 2026.
| After the filing | Stock | Oil median |
|---|---|---|
| 5 minutes | −4.1% | |
| 15 minutes | −4.9% | |
| 30 minutes | −4.1% | |
| Reaction day | −3.2% | +1.7% |
| Next day | −3.5% | +1.7% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 August 2026 | −7.2% |
| 19 May 2026 | +8.7% |
| 13 February 2026 | +7.6% |
| 14 November 2025 | −3.5% |
| 12 August 2025 | +0.2% |
| 16 May 2025 | −7.3% |
| 12 February 2025 | −7.5% |
| 12 November 2024 | +0.8% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Asian Energy Services' revenue in Q2 FY27?
Revenue from operations was ₹266.67 crore, up 161.4% from ₹102 crore in Q2 FY26 (consolidated).
Did Asian Energy Services make a profit in Q2 FY27?
Yes. Net profit was ₹17.07 crore, against a net loss of ₹3.03 crore in Q2 FY26.
What was Asian Energy Services' EPS in Q2 FY27?
Basic earnings per share were ₹3.41, against a loss of ₹0.87 in Q2 FY26.
How did Asian Energy Services shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.2% from the previous close; the median Oil stock moved +1.7%.
When did Asian Energy Services announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results On Standalone And Consolidated Basis For The Period Ended September 30, 2026. (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting - Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015. (BSE, 30 October 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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