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Avantel Q2 FY27 results: net profit up 59.5% to ₹6.81 crore, revenue up 34.3%
Avantel Limited reported consolidated Q2 FY27 revenue of ₹74.42 crore, up 34.3% from ₹55.42 crore in Q2 FY26. EBITDA rose 84.2% to ₹20.85 crore, while the EBITDA margin expanded 7.6 percentage points to 28.0%; profit after tax was ₹6.81 crore and basic EPS was ₹0.26.
Key points
- Consolidated Q2 FY27 revenue was ₹74.42 crore, up ₹19 crore or 34.3% from Q2 FY26.
- EBITDA was ₹20.85 crore, up ₹9.53 crore or 84.2% year on year, with margin at 28.0%.
- Profit after tax was ₹6.81 crore, up ₹2.54 crore or 59.5%, and basic EPS increased to ₹0.26.
- Against Q1 FY27, revenue rose ₹4 crore to ₹74.42 crore and profit after tax rose ₹1.42 crore to ₹6.81 crore.
- H1 FY27 revenue was ₹144.84 crore, up ₹37.51 crore or 34.9% from H1 FY26, while PAT was ₹12.19 crore, up ₹4.69 crore or 62.5%.
How did Avantel perform in Q2 FY27?
Avantel’s consolidated revenue for Q2 FY27 was ₹74.42 crore, compared with ₹55.42 crore in Q2 FY26 and ₹70.42 crore in Q1 FY27. The increases were ₹19 crore or 34.3% year on year and ₹4 crore or 5.7% sequentially. Total income was ₹74.72 crore, against ₹56.33 crore in Q2 FY26 and ₹70.54 crore in Q1 FY27.
EBITDA rose to ₹20.85 crore from ₹11.32 crore in Q2 FY26, a year-on-year increase of ₹9.53 crore or 84.2%, and from ₹17.43 crore in Q1 FY27, a sequential increase of ₹3.42 crore or 19.6%. The EBITDA margin was 28.0%, up 7.6 percentage points from 20.4% a year earlier and 3.2 percentage points from 24.8% in the previous quarter.
Profit before tax was ₹9.63 crore, compared with ₹6.22 crore in Q2 FY26 and ₹8.70 crore in Q1 FY27. The company reported a net profit of ₹6.81 crore, up ₹2.54 crore or 59.5% year on year and ₹1.42 crore or 26.3% sequentially, while basic EPS was ₹0.26, against ₹0.15 and ₹0.20, respectively. On the standalone basis, revenue was ₹73.82 crore and profit after tax was ₹8.35 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 74.42 | 70.42 | 55.42 | +34.3% | +5.7% |
| Other income | 0.30 | 0.12 | 0.91 | −67.0% | +150.0% |
| Total expenses | 65.09 | 61.84 | 50.11 | +29.9% | +5.3% |
| EBITDA | 20.85 | 17.43 | 11.32 | +84.2% | +19.6% |
| EBITDA margin | 28.0% | 24.8% | 20.4% | +7.6 pp | +3.2 pp |
| Profit before tax | 9.63 | 8.70 | 6.22 | +54.8% | +10.7% |
| Tax | 2.82 | 3.30 | 1.95 | +44.6% | −14.5% |
| Net profit | 6.81 | 5.39 | 4.27 | +59.5% | +26.3% |
| EPS (₹) | 0.26 | 0.20 | 0.15 | +73.3% | +30.0% |
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 Avantel's costs and profit?
Total expenses rose ₹14.98 crore or 29.9% to ₹65.09 crore from Q2 FY26, below the 34.3% increase in revenue. Cost of materials consumed was the largest increase, rising ₹26.81 crore or 130.4% to ₹47.37 crore, while employee cost declined ₹0.17 crore or 1.4% to ₹12.37 crore.
Finance costs increased ₹1.49 crore or 118.3% to ₹2.75 crore, depreciation rose ₹4.01 crore or 84.2% to ₹8.77 crore, and other expenses increased ₹4.34 crore or 27.3% to ₹20.26 crore. Other income declined ₹0.61 crore or 67.0% to ₹0.30 crore, and there was no exceptional item.
Tax expense rose ₹0.87 crore or 44.6% to ₹2.82 crore from ₹1.95 crore in Q2 FY26. Against Q1 FY27, total expenses were higher by ₹3.25 crore, cost of materials was higher by ₹21.92 crore, depreciation was higher by ₹1.67 crore and other expenses were higher by ₹4.10 crore, while tax was lower by ₹0.48 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 47.37 | 20.56 | +26.81 | +130.4% |
| Employee cost | 12.37 | 12.54 | −0.17 | −1.4% |
| Finance costs | 2.75 | 1.26 | +1.49 | +118.3% |
| Depreciation | 8.77 | 4.76 | +4.01 | +84.2% |
| Other expenses | 20.26 | 15.92 | +4.34 | +27.3% |
| Total expenses | 65.09 | 50.11 | +14.98 | +29.9% |
| Other income | 0.30 | 0.91 | −0.61 | −67.0% |
| Tax | 2.82 | 1.95 | +0.87 | +44.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Avantel reported consolidated revenue of ₹144.84 crore, compared with ₹107.33 crore in H1 FY26, an increase of ₹37.51 crore or 34.9%. Total income was ₹145.25 crore, up ₹36.96 crore or 34.1% from ₹108.29 crore.
Profit before tax for H1 FY27 was ₹18.31 crore, up ₹6.78 crore or 58.8% from ₹11.53 crore. PAT was ₹12.19 crore, compared with ₹7.5 crore in H1 FY26, an increase of ₹4.69 crore or 62.5%, while EPS declined from ₹0.94 to ₹0.46.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 144.84 | 107.33 | +34.9% |
| Profit before tax | 18.31 | 11.53 | +58.8% |
| Net profit | 12.19 | 7.50 | +62.5% |
| EPS (₹) | 0.46 | 0.94 | −51.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Avantel’s total assets increased to ₹555.29 crore as of 30 September 2026 from ₹409.84 crore as of 31 March 2026. Total equity rose to ₹347.95 crore from ₹338.23 crore, while borrowings increased to ₹106.98 crore from ₹34.38 crore and cash fell to ₹1.91 crore from ₹5.79 crore.
Inventories were ₹147.21 crore at the end of September 2026, compared with ₹93.32 crore at 31 March 2026. Trade receivables rose to ₹90.99 crore from ₹71.71 crore, and trade payables increased to ₹11.16 crore from ₹1.97 crore.
H1 FY27 operating cash flow was negative ₹1.72 crore, against positive ₹1.47 crore in H1 FY26. Investing cash flow was negative ₹65.29 crore, compared with negative ₹82.48 crore, while financing cash flow was positive ₹63.14 crore, compared with ₹82.83 crore. Capital expenditure was ₹59.95 crore, up from ₹28.98 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 555.29 | 409.84 |
| Total equity | 347.95 | 338.23 |
| Borrowings | 106.98 | 34.38 |
| Cash and equivalents | 1.91 | 5.79 |
| Inventories | 147.21 | 93.32 |
| Trade receivables | 90.99 | 71.71 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1.72 | 1.47 |
| Cash from investing | −65.29 | −82.48 |
| Cash from financing | 63.14 | 82.83 |
| Capital expenditure | 59.95 | 28.98 |
Source: Company's results filing (XBRL).
How has Avantel done over the last 8 quarters?
Revenue rose year on year in each of the last three quarters, while profit rose year on year in each of the last two quarters. The latest quarter continued the sequential rise, with revenue reaching ₹74.42 crore and PAT reaching ₹6.81 crore, both the highest in the reported period since Q3 FY25.
The EBITDA margin reached 28.0% in Q2 FY27 from 24.8% in Q1 FY27, following 21.3% in Q4 FY26. Revenue had bottomed at ₹49.26 crore in Q4 FY25, while PAT had bottomed at ₹2.74 crore in Q3 FY26; the earlier peak was ₹70.68 crore of revenue and ₹20.08 crore of PAT in Q3 FY25.
Which businesses drove the quarter?
Communications and signal processing products generated revenue of ₹74.12 crore in Q2 FY27, up 32.3% from ₹56.03 crore in Q2 FY26. Segment EBIT was ₹11.17 crore, compared with ₹8.12 crore, and the EBIT margin was 15.1%.
Health Care revenue rose 105.5% to ₹0.6 crore from ₹0.29 crore in Q2 FY26. Segment EBIT was a loss of ₹1.54 crore, compared with a loss of ₹1.9 crore, and the EBIT margin was -255.0%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Communications and signal processing products | 74.12 | +32.3% | 11.17 | 15.1% |
| Health Care | 0.60 | +105.5% | −1.54 | -255.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 26 October 2026, the board approved the merger of wholly owned subsidiary Imeds Global Private Limited into Avantel. The scheme is subject to sanction by the NCLT, Amaravati Bench, and other necessary approvals; no cash consideration or Avantel shares are proposed, and the filing says the merger is intended to rationalise the group structure, simplify governance and reporting, and consolidate operations and resources.
The board also appointed Nimmagadda Sreenivasa Rao as an Additional Director, designated as Director (Technical), for a term of three consecutive years from 26 October 2026 to 25 October 2029. The appointment is subject to shareholder approval by postal ballot. The results filing also recorded approval of the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026.
How did Avantel shares react?
Avantel’s shares were up 0.1% after five minutes and down 0.7% after 15 minutes from the price when the filing appeared. By the 30-minute mark, the stock was down 2.7%, and it closed the reaction day down 1.9% from the previous close of ₹136.62.
By the next day’s close, the stock was down 0.1% from its pre-results close, and by the fifth session it was down 1.3%. The industry median rose 1.0% on the reaction day, 3.2% by the next day and 2.2% by the fifth day, leaving Avantel’s relative moves at -2.9 percentage points, -3.3 percentage points and -3.5 percentage points, respectively.
Earlier results-day moves were mixed: the stock rose 1.3% on 11 July 2026 and 2.5% on 26 April 2026, but fell 5.5% on 25 January 2026, 9.2% on 18 October 2025 and 8.1% on 25 July 2025.
| After the filing | Stock | Aerospace & Defense median |
|---|---|---|
| 5 minutes | +0.1% | |
| 15 minutes | −0.7% | |
| 30 minutes | −2.7% | |
| Reaction day | −1.9% | +1.0% |
| Next day | −0.1% | +3.2% |
| 5 days | −1.3% | +2.2% |
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 |
|---|---|
| 11 July 2026 | +1.3% |
| 26 April 2026 | +2.5% |
| 25 January 2026 | −5.5% |
| 18 October 2025 | −9.2% |
| 25 July 2025 | −8.1% |
| 18 January 2025 | −2.0% |
| 5 October 2024 | +3.6% |
Source: MarketPing price-reaction measurement.
How did other Aerospace & Defense companies do?
Nine other Aerospace & Defense companies had filed for the quarter by 4 November 2026. Their median revenue growth was 42.9%, compared with Avantel’s 34.3%; four peers grew more slowly than Avantel and five grew faster. Seven peers reported higher profit.
| Avantel revenue growth (YoY) | +34.3% |
|---|---|
| Median of 9 other Aerospace & Defense companies | +42.9% |
| Companies with slower revenue growth than Avantel | 4 of 9 |
| Companies with faster revenue growth than Avantel | 5 of 9 |
| Companies whose net profit rose | 7 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Avantel's revenue in Q2 FY27?
Revenue from operations was ₹74.42 crore, up 34.3% from ₹55.42 crore in Q2 FY26 (consolidated).
Did Avantel make a profit in Q2 FY27?
Yes. Net profit was ₹6.81 crore, against a net profit of ₹4.27 crore in Q2 FY26.
What was Avantel's EPS in Q2 FY27?
Basic earnings per share were ₹0.26, against ₹0.15 in Q2 FY26.
How did Avantel shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.9% from the previous close; the median Aerospace & Defense stock moved +1.0%.
When did Avantel announce its Q2 FY27 results?
On 26 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 6 October 2026) · PDF
- Results For The Quarter And Half Year Ended On September 30, 2026 (BSE, 26 October 2026) · PDF
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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