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GTL Infrastructure Q2 FY27 results: net profit ₹262.91 crore vs ₹425.89 crore loss, revenue down 51.9%
GTL Infrastructure Limited reported standalone revenue of ₹332.51 crore and a net profit of ₹262.91 crore for Q2 FY27, including a ₹262.64 crore exceptional gain. EBITDA was ₹81.04 crore at a 24.4% margin, while basic EPS was ₹0.20, compared with a net loss of ₹425.89 crore in Q2 FY26.
Key points
- Revenue was ₹332.51 crore in Q2 FY27, down ₹358.51 crore or 51.9% from ₹691.02 crore in Q2 FY26, and up ₹5.20 crore or 1.6% from Q1 FY27.
- EBITDA was ₹81.04 crore at a 24.4% margin, down ₹112.19 crore or 58.1% year on year and ₹61.75 crore or 43.2% sequentially.
- Net profit was ₹262.91 crore after an exceptional gain of ₹262.64 crore, compared with a net loss of ₹425.89 crore in Q2 FY26 and a net profit of ₹69.39 crore in Q1 FY27.
- Basic EPS was ₹0.20 in Q2 FY27, compared with a loss of ₹0.33 per share in Q2 FY26 and EPS of ₹0.05 in Q1 FY27.
- Total assets were ₹3,016.39 crore and total equity was negative ₹4,882.68 crore as of 30 September 2026, while borrowings stood at ₹5,152.87 crore.
How did GTL Infrastructure perform in Q2 FY27?
GTL Infrastructure reported standalone revenue of ₹332.51 crore for Q2 FY27, compared with ₹691.02 crore in Q2 FY26 and ₹327.31 crore in Q1 FY27. Revenue was lower by ₹358.51 crore, or 51.9%, year on year, but higher by ₹5.20 crore, or 1.6%, sequentially. The figures cover the quarter ended 30 September 2026 and were approved by the board on 6 November 2026.
EBITDA for Q2 FY27 was ₹81.04 crore, with a margin of 24.4%, against ₹193.23 crore and 28.0% in Q2 FY26 and ₹142.79 crore and 43.6% in Q1 FY27. The margin declined 3.6 percentage points from the year-ago quarter and 19.2 percentage points from the previous quarter.
Profit before tax and net profit were both ₹262.91 crore, compared with a loss of ₹425.89 crore before tax and net profit in Q2 FY26 and a profit of ₹69.39 crore in Q1 FY27. Basic EPS was ₹0.20, against a loss of ₹0.33 per share in Q2 FY26 and EPS of ₹0.05 in Q1 FY27. No consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 332.51 | 327.31 | 691.02 | −51.9% | +1.6% |
| Other income | 2.63 | 5.06 | 23.86 | −89.0% | −48.0% |
| Total expenses | 334.87 | 262.98 | 1,141 | −70.6% | +27.3% |
| EBITDA | 81.04 | 142.79 | 193.23 | −58.1% | −43.2% |
| EBITDA margin | 24.4% | 43.6% | 28.0% | −3.6 pp | −19.2 pp |
| Profit before tax | 262.91 | 69.39 | −425.89 | turned to profit | +278.9% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 262.91 | 69.39 | −425.89 | turned to profit | +278.9% |
| EPS (₹) | 0.20 | 0.05 | −0.33 | turned to profit | +300.0% |
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 GTL Infrastructure's costs and profit?
The year-on-year movement in profit followed lower expenses. Total expenses fell ₹805.90 crore, or 70.6%, to ₹334.87 crore, while finance costs declined ₹491.15 crore, or 94.7%, to ₹27.48 crore. Other expenses fell ₹226.11 crore, or 49.2%, to ₹233.13 crore, depreciation fell ₹68.43 crore, or 55.0%, to ₹55.92 crore, and employee cost fell ₹20.21 crore, or 52.4%, to ₹18.34 crore.
Other income was ₹2.63 crore, down ₹21.23 crore, or 89.0%, from ₹23.86 crore in Q2 FY26. Tax remained unchanged, with no exceptional tax item reported. The quarter included a ₹262.64 crore exceptional gain, while the year-ago quarter had no exceptional item.
Against Q1 FY27, total expenses were higher by ₹71.89 crore, or 27.3%, as other expenses rose ₹64.37 crore and finance costs rose ₹4.67 crore. Other income was lower by ₹2.43 crore. The company said that, following settlement with one secured lender and continued pursuit of one-time settlements with remaining rupee term lenders, adequate interest provisions had been made and further interest accrual had been discontinued.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 18.34 | 38.55 | −20.21 | −52.4% |
| Finance costs | 27.48 | 518.63 | −491.15 | −94.7% |
| Depreciation | 55.92 | 124.35 | −68.43 | −55.0% |
| Other expenses | 233.13 | 459.24 | −226.11 | −49.2% |
| Total expenses | 334.87 | 1,141 | −805.90 | −70.6% |
| Other income | 2.63 | 23.86 | −21.23 | −89.0% |
| Tax | 0 | 0 | 0 | |
| Exceptional items | +262.64 (gain) | none |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹3,016.39 crore, compared with ₹3,125.29 crore at 31 March 2026. Total equity remained negative at ₹4,882.68 crore against negative ₹5,215.03 crore, while borrowings fell to ₹5,152.87 crore from ₹5,415.95 crore. Cash was ₹105.62 crore, compared with ₹116.29 crore, and inventories were ₹2.85 crore against ₹2.73 crore.
Trade receivables were ₹30.90 crore at the quarter end, compared with ₹40.93 crore at the previous balance-sheet date, while trade payables were ₹6.83 crore against ₹6.54 crore. For the first half of FY27, operating cash flow was ₹313.60 crore, compared with ₹217.87 crore in H1 FY26. Investing cash flow was ₹10.65 crore against negative ₹17.56 crore, while financing cash flow was negative ₹334.92 crore against negative ₹336.21 crore.
Capital expenditure in the first half of FY27 was ₹19.76 crore, compared with ₹39.71 crore in the year-ago period. The company’s cash-flow statement showed no closing-cash figure for either half-year period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,016 | 3,125 |
| Total equity | −4,883 | −5,215 |
| Borrowings | 5,153 | 5,416 |
| Cash and equivalents | 105.62 | 116.29 |
| Inventories | 2.85 | 2.73 |
| Trade receivables | 30.90 | 40.93 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 313.60 | 217.87 |
| Cash from investing | 10.65 | −17.56 |
| Cash from financing | −334.92 | −336.21 |
| Capital expenditure | 19.76 | 39.71 |
Source: Company's results filing (XBRL).
How has GTL Infrastructure done over the last 8 quarters?
Revenue moved unevenly over the last eight quarters. It was ₹332.51 crore in Q2 FY27, higher than ₹327.31 crore in Q1 FY27 but lower than the peak of ₹691.02 crore in Q2 FY26. Before that peak, quarterly revenue had remained within a narrower range, including ₹338.47 crore in Q3 FY25 and ₹330.36 crore in Q4 FY26.
Net profit shifted from losses to profits after Q2 FY26. It was a net loss of ₹425.89 crore in Q2 FY26, then ₹19.58 crore in Q3 FY26, ₹1,185.58 crore in Q4 FY26, ₹69.39 crore in Q1 FY27 and ₹262.91 crore in Q2 FY27. The highest reported profit was in Q4 FY26, while the lowest was the loss in Q2 FY26.
The EBITDA margin was 24.4% in Q2 FY27, down from 43.6% in Q1 FY27 and 28.0% in Q2 FY26. Across the latest quarters, it peaked at 43.6%, reached its low of 15.1% in Q4 FY26 and recovered to 27.0% in Q3 FY26 before declining again. Revenue was ₹350.59 crore and net profit ₹19.58 crore in Q3 FY26.
What did the auditors point out?
The limited review report identified a “Material Uncertainty related to Going Concern” but stated that the conclusion was not modified in respect of this matter. The auditors said the appropriateness of the going-concern assumption was critically dependent on the company’s ability to generate sufficient future cash flows to meet its obligations. The report noted that the company continued to prepare its books on a going-concern basis after settlement of dues with various lenders.
The auditors also drew attention to the non-accrual of interest on outstanding rupee term loans as an emphasis of matter. Management considered that adequate interest provisions had been made in the company’s books and said that further interest accrual had been discontinued. The review was conducted under limited procedures, did not constitute an audit opinion and expressed no audit opinion.
Quick answers
What was GTL Infrastructure's revenue in Q2 FY27?
Revenue from operations was ₹332.51 crore, down 51.9% from ₹691.02 crore in Q2 FY26 (standalone).
Did GTL Infrastructure make a profit in Q2 FY27?
Yes. Net profit was ₹262.91 crore, against a net loss of ₹425.89 crore in Q2 FY26.
What was GTL Infrastructure's EPS in Q2 FY27?
Basic earnings per share were ₹0.20, against a loss of ₹0.33 in Q2 FY26.
When did GTL Infrastructure announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 30 October 2026) · PDF
- Outcome of Board Meeting (NSE, 6 November 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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