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GPT Infraprojects Q2 FY27 results: net profit down 17.9% to ₹17.64 crore, revenue up 4.6%
GPT Infraprojects Limited reported consolidated revenue of ₹291.39 crore in Q2 FY27, up 4.6% from the year-ago quarter, while net profit fell to ₹17.64 crore. EBITDA rose to ₹41.35 crore, but the margin remained at 14.2%; against Q1 FY27, revenue fell 3.5% and net profit declined 27.5%.
Key points
- Consolidated Q2 FY27 revenue was ₹291.39 crore, up 4.6% from Q2 FY26 but down 3.5% from Q1 FY27.
- EBITDA was ₹41.35 crore, up 4.6% year on year and down 13.0% sequentially; the EBITDA margin was 14.2%, compared with 15.7% in Q1 FY27.
- Net profit was ₹17.64 crore, down 17.9% from ₹21.48 crore a year earlier and down 27.5% from ₹24.34 crore in the previous quarter.
- Basic EPS was ₹1.44, compared with ₹1.72 in Q2 FY26 and ₹1.95 in Q1 FY27.
- H1 FY27 revenue was ₹593.46 crore, while PAT was ₹41.99 crore and basic EPS was ₹3.39.
How did GPT Infraprojects perform in Q2 FY27?
GPT Infraprojects reported consolidated revenue of ₹291.39 crore for Q2 FY27, an increase of ₹12.72 crore, or 4.6%, from ₹278.67 crore in Q2 FY26. Against Q1 FY27, revenue fell ₹10.68 crore, or 3.5%, from ₹302.07 crore. On the standalone basis, revenue was ₹274.71 crore.
EBITDA rose ₹1.80 crore, or 4.6%, year on year to ₹41.35 crore, while the EBITDA margin remained 14.2%. Sequentially, EBITDA fell ₹6.19 crore, or 13.0%, from ₹47.54 crore and the margin declined 1.5 percentage points to 14.2%. PBT was ₹23.04 crore and PAT was ₹17.64 crore, with basic EPS of ₹1.44.
PAT fell ₹3.84 crore, or 17.9%, from ₹21.48 crore in the year-ago quarter and ₹6.70 crore, or 27.5%, from ₹24.34 crore in Q1 FY27. Basic EPS fell from ₹1.72 year on year and ₹1.95 sequentially. The standalone result was PAT of ₹19.95 crore against ₹21.08 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 291.39 | 302.07 | 278.67 | +4.6% | −3.5% |
| Other income | 3.90 | 4.23 | 3.10 | +25.8% | −7.8% |
| Total expenses | 272.24 | 274.17 | 253.04 | +7.6% | −0.7% |
| EBITDA | 41.35 | 47.54 | 39.55 | +4.6% | −13.0% |
| EBITDA margin | 14.2% | 15.7% | 14.2% | +0.0 pp | −1.5 pp |
| Profit before tax | 23.04 | 32.13 | 28.74 | −19.8% | −28.3% |
| Tax | 5.64 | 8.20 | 7.55 | −25.3% | −31.2% |
| Net profit | 17.64 | 24.34 | 21.48 | −17.9% | −27.5% |
| EPS (₹) | 1.44 | 1.95 | 1.72 | −16.3% | −26.2% |
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 GPT Infraprojects' costs and profit?
Total expenses increased ₹19.20 crore, or 7.6%, year on year, to ₹272.24 crore. Cost of materials rose ₹5.40 crore to ₹98.74 crore, employee cost increased ₹2.79 crore to ₹18.72 crore, finance costs increased ₹2.78 crore to ₹11.26 crore and depreciation rose ₹5.51 crore to ₹10.94 crore. Other expenses increased ₹14.60 crore to ₹135.24 crore.
Other income increased ₹0.80 crore, or 25.8%, to ₹3.90 crore from ₹3.10 crore. Tax fell ₹1.91 crore, or 25.3%, to ₹5.64 crore from ₹7.55 crore. There was no exceptional item in either quarter, so the filing does not show an exceptional-item effect on the year-on-year profit comparison.
Against Q1 FY27, total expenses fell ₹1.93 crore to ₹272.24 crore, but other expenses rose ₹20.20 crore and finance costs rose ₹1.96 crore. Depreciation increased ₹0.61 crore, while cost of materials fell ₹33.22 crore. Other income fell ₹0.33 crore and tax fell ₹2.56 crore, with no exceptional item in either quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 98.74 | 93.34 | +5.40 | +5.8% |
| Employee cost | 18.72 | 15.93 | +2.79 | +17.5% |
| Finance costs | 11.26 | 8.48 | +2.78 | +32.8% |
| Depreciation | 10.94 | 5.43 | +5.51 | +101.5% |
| Other expenses | 135.24 | 120.64 | +14.60 | +12.1% |
| Total expenses | 272.24 | 253.04 | +19.20 | +7.6% |
| Other income | 3.90 | 3.10 | +0.80 | +25.8% |
| Tax | 5.64 | 7.55 | −1.91 | −25.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹593.46 crore, up ₹2.16 crore, or 0.4%, from ₹591.3 crore in H1 FY26. Total income was ₹601.58 crore, down ₹1.73 crore, or 0.3%, from ₹603.31 crore. PBT fell ₹6.92 crore, or 11.1%, to ₹55.17 crore from ₹62.09 crore.
H1 FY27 PAT was ₹41.99 crore, down ₹4.46 crore, or 9.6%, from ₹46.45 crore in H1 FY26. Basic EPS declined by ₹0.19, or 5.3%, to ₹3.39 from ₹3.58. The half-year figures therefore show higher revenue but lower profit and EPS compared with the year-ago period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 593.46 | 591.30 | +0.4% |
| Profit before tax | 55.17 | 62.09 | −11.1% |
| Net profit | 41.99 | 46.45 | −9.6% |
| EPS (₹) | 3.39 | 3.58 | −5.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,433.48 crore, compared with ₹1,364.95 crore at 31 March 2026. Total equity was ₹616.21 crore against ₹590.88 crore, while borrowings were ₹312.22 crore against ₹294.02 crore. Cash and cash equivalents were ₹9.34 crore, compared with ₹2.18 crore.
Inventories increased to ₹230.63 crore from ₹167.32 crore, and trade receivables fell to ₹45.28 crore from ₹128.62 crore. Trade payables decreased to ₹325.21 crore from ₹340.04 crore. H1 FY27 operating cash flow was ₹54.04 crore, compared with ₹11.52 crore in H1 FY26; investing cash flow was negative ₹31.05 crore against negative ₹23.53 crore.
Financing cash flow was negative ₹15.82 crore in H1 FY27, compared with ₹11.94 crore in H1 FY26. Capital expenditure was ₹35.05 crore, against ₹20.54 crore in the year-ago period. The filing does not provide a closing cash figure for either half-year period in the supplied data.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,433 | 1,365 |
| Total equity | 616.21 | 590.88 |
| Borrowings | 312.22 | 294.02 |
| Cash and equivalents | 9.34 | 2.18 |
| Inventories | 230.63 | 167.32 |
| Trade receivables | 45.28 | 128.62 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 54.04 | 11.52 |
| Cash from investing | −31.05 | −23.53 |
| Cash from financing | −15.82 | 11.94 |
| Capital expenditure | 35.05 | 20.54 |
Source: Company's results filing (XBRL).
How has GPT Infraprojects done over the last 8 quarters?
Revenue reached its highest level in the series at ₹414.68 crore in Q4 FY26 and fell to ₹302.07 crore in Q1 FY27 and ₹291.39 crore in Q2 FY27. The lowest revenue shown was ₹278.08 crore in Q3 FY25, although the company reported ₹278.67 crore in Q2 FY26.
PAT peaked at ₹29.78 crore in Q4 FY26 and fell to ₹24.34 crore in Q1 FY27 and ₹17.64 crore in Q2 FY27. The EBITDA margin reached 15.7% in Q1 FY27, compared with 14.2% in Q2 FY26 and Q2 FY27; the lowest margin shown was 10.1% in Q4 FY25.
Which businesses drove the quarter?
Infrastructure revenue was ₹261.54 crore in Q2 FY27, up 7.3% from ₹243.71 crore in the year-ago quarter. Segment EBIT was ₹33.15 crore, compared with ₹33.53 crore, while the reported EBIT margin was 12.7%.
Concrete Sleeper revenue was ₹29.85 crore, down 14.6% from ₹34.96 crore in the year-ago quarter. EBIT fell to ₹2.38 crore from ₹4.06 crore, and the reported EBIT margin was 8.0%. The Others segment reported EBIT of ₹0.44 crore against ₹0.11 crore, with no revenue reported for either period.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Infrastructure | 261.54 | +7.3% | 33.15 | 12.7% |
| Concrete Sleeper | 29.85 | −14.6% | 2.38 | 8.0% |
| Others | 0 | 0.44 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, together with the statutory auditors’ limited review report. It also declared an interim dividend of 10%, or ₹1.00 per share, on the face value of ₹10 per equity share for FY2026-27.
The company expects to pay the interim dividend on or before 4 December 2026 and fixed 11 November 2026 as the record date. The same-day investor presentation reported an order book of ₹5,373 crore, including ₹4,521 crore for Infrastructure and ₹852 crore for sleepers.
What did GPT Infraprojects' management say?
Management said the order book reached ₹5,373 crore, about 4.3x FY26 revenue. It expects Africa revenue of approximately ₹80 crore and Alcon revenue of approximately ₹150 crore in FY27, with FY27 EBITDA of about ₹30 crore and a roughly 20% margin. The company expects at least ₹2,000 crore of H2 order inflows, implying that the minimum FY27 target should be exceeded.
Atul Tantia, Joint Managing Director and CFO, said: “With workforce availability now normalized, execution is gaining momentum.” He also said: “Our order book strategy remains largely focused on balancing growth with execution quality.” Management identified election and monsoon disruption, currency and political-environment changes, back-ended order conversion, execution and contract-completion timing for retention money of about ₹100 crore as risks.
How did GPT Infraprojects shares react?
GPT Infraprojects closed the reaction session 8.9% below its previous close of ₹114.00. The stock was down 0.3% after five minutes, up 0.8% after 15 minutes and down 0.1% after 30 minutes from the price when the filing appeared, showing that the session’s larger move developed later.
Past results-day moves were mixed but mostly negative. The company fell 4.3% on 1 August 2026, 1.8% on 20 May 2026, 3.9% on 28 January 2026, 2.9% on 6 November 2025 and 2.8% on 12 November 2024. It had risen 8.5% on 4 February 2025.
| After the filing | Stock | Civil Construction median |
|---|---|---|
| 5 minutes | −0.3% | |
| 15 minutes | +0.8% | |
| 30 minutes | −0.1% | |
| Reaction day | −8.9% | +1.8% |
| Next day | −1.9% | +3.0% |
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 |
|---|---|
| 1 August 2026 | −4.3% |
| 20 May 2026 | −1.8% |
| 28 January 2026 | −3.9% |
| 6 November 2025 | −2.9% |
| 4 August 2025 | +1.2% |
| 4 February 2025 | +8.5% |
| 12 November 2024 | −2.8% |
| 31 July 2024 | −1.1% |
Source: MarketPing price-reaction measurement.
How did other Civil Construction companies do?
Thirty-eight other Civil Construction companies had filed for the quarter by 6 November 2026. Their median revenue growth was 12.6%, compared with GPT Infraprojects’ revenue growth of 4.6%; 23 peers grew faster than the company and 15 grew more slowly.
Twenty-nine of the 38 peers reported higher profit. The peer data therefore shows broader revenue growth across the industry, while GPT Infraprojects recorded lower profit than in both the year-ago quarter and the previous quarter.
| GPT Infraprojects revenue growth (YoY) | +4.6% |
|---|---|
| Median of 38 other Civil Construction companies | +12.6% |
| Companies with slower revenue growth than GPT Infraprojects | 15 of 38 |
| Companies with faster revenue growth than GPT Infraprojects | 23 of 38 |
| Companies whose net profit rose | 29 of 38 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was GPT Infraprojects' revenue in Q2 FY27?
Revenue from operations was ₹291.39 crore, up 4.6% from ₹278.67 crore in Q2 FY26 (consolidated).
Did GPT Infraprojects make a profit in Q2 FY27?
Yes. Net profit was ₹17.64 crore, against a net profit of ₹21.48 crore in Q2 FY26.
What was GPT Infraprojects' EPS in Q2 FY27?
Basic earnings per share were ₹1.44, against ₹1.72 in Q2 FY26.
How did GPT Infraprojects shares react to the Q2 FY27 results?
On the reaction day the stock moved −8.9% from the previous close; the median Civil Construction stock moved +1.8%.
When did GPT Infraprojects announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Considering And Approving The Un-Audited Financial Results Along With Limited Review Report For The 2Nd Quarter And Half Year Ended On September 30, 2026 And To Declare Interim Dividend For The F.Y. 2026-27. (BSE, 27 October 2026) · PDF
- Result-Financial Results For Q2H1FY27 (BSE, 4 November 2026) · PDF
- The earnings call (5 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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