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GTL Q2 FY27 results: net profit ₹199.01 crore vs ₹39.47 crore loss, revenue up 9.0%
GTL Limited reported standalone revenue of ₹60.41 crore and a net profit of ₹199.01 crore in Q2 FY27, compared with revenue of ₹55.40 crore and a net loss of ₹39.47 crore in Q2 FY26. EBITDA turned to ₹11.73 crore from a loss of ₹22.91 crore, while profit was lower than in Q1 FY27 because the exceptional gain was smaller.
Key points
- Revenue was ₹60.41 crore in Q2 FY27, up ₹5.01 crore or 9.0% from ₹55.40 crore in Q2 FY26 and ₹0.39 crore or 0.6% from ₹60.02 crore in Q1 FY27.
- EBITDA was ₹11.73 crore in Q2 FY27, against a loss of ₹22.91 crore in Q2 FY26; the EBITDA margin was 19.4%, compared with -41.4% a year earlier.
- Net profit was ₹199.01 crore in Q2 FY27, compared with a net loss of ₹39.47 crore in Q2 FY26 and a net profit of ₹322.18 crore in Q1 FY27.
- Basic EPS was ₹12.65 in Q2 FY27, against a loss of ₹2.51 in Q2 FY26 and EPS of ₹20.48 in Q1 FY27.
- H1 FY27 revenue was ₹120.44 crore, up 8.4% from ₹111.13 crore in H1 FY26, while net profit was ₹521.19 crore against a net loss of ₹23.87 crore.
How did GTL perform in Q2 FY27?
GTL reported standalone revenue of ₹60.41 crore in Q2 FY27, up ₹5.01 crore or 9.0% from ₹55.40 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹0.39 crore or 0.6% from ₹60.02 crore. Total income was ₹61.43 crore, up ₹5.38 crore or 9.6% year on year and ₹1.07 crore or 1.8% sequentially.
EBITDA for Q2 FY27 was ₹11.73 crore, compared with a loss of ₹22.91 crore in Q2 FY26 and a loss of ₹1.95 crore in Q1 FY27. The EBITDA margin was 19.4%, compared with -41.4% a year earlier and -3.2% in the previous quarter. The figures are on a standalone basis.
Profit before tax was ₹199.01 crore in Q2 FY27, against a loss of ₹42.77 crore in Q2 FY26, while profit was lower by ₹123.17 crore or 38.2% from ₹322.18 crore in Q1 FY27. Net profit was ₹199.01 crore, versus a net loss of ₹39.47 crore a year earlier and net profit of ₹322.18 crore in the previous quarter. Basic EPS was ₹12.65, compared with a loss of ₹2.51 and ₹20.48, respectively.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 60.41 | 60.02 | 55.40 | +9.0% | +0.6% |
| Other income | 1.02 | 0.33 | 0.65 | +56.9% | +209.1% |
| Total expenses | 61.22 | 72.48 | 88.49 | −30.8% | −15.5% |
| EBITDA | 11.73 | −1.95 | −22.91 | turned to profit | turned to profit |
| EBITDA margin | 19.4% | -3.2% | -41.4% | +60.8 pp | +22.6 pp |
| Profit before tax | 199.01 | 322.18 | −42.77 | turned to profit | −38.2% |
| Tax | 0 | 0 | −3.30 | ||
| Net profit | 199.01 | 322.18 | −39.47 | turned to profit | −38.2% |
| EPS (₹) | 12.65 | 20.48 | −2.51 | turned to profit | −38.2% |
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 GTL's costs and profit?
Total expenses fell ₹27.27 crore or 30.8% to ₹61.22 crore from ₹88.49 crore in Q2 FY26. Cost of materials consumed and services rendered declined ₹4.36 crore or 72.8% to ₹1.63 crore, while other expenses fell ₹32.92 crore or 63.1% to ₹19.23 crore. Employee benefit expense rose ₹7.64 crore or 37.9% to ₹27.82 crore, finance costs rose ₹1.79 crore or 21.3% to ₹10.20 crore, and depreciation rose ₹0.56 crore or 31.6% to ₹2.33 crore.
Other income increased ₹0.37 crore or 56.9% to ₹1.02 crore from ₹0.65 crore in Q2 FY26. The quarter recorded an exceptional gain of ₹198.80 crore, compared with an exceptional charge of ₹10.34 crore a year earlier. Tax expense was ₹0 crore, against ₹3.30 crore in Q2 FY26.
The filing states that exceptional items for the period ended 30 September 2026 were ₹53,309.78 lakhs, comprising ₹51,464.78 lakhs for the accounting impact of the One Time Settlement with lenders and ₹1,845.00 lakhs of one-time revenue from settlement of disputed dues. It also states that no further interest was payable or provided on borrowings under the ongoing OTS.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1.63 | 5.99 | −4.36 | −72.8% |
| Employee cost | 27.82 | 20.18 | +7.64 | +37.9% |
| Finance costs | 10.20 | 8.41 | +1.79 | +21.3% |
| Depreciation | 2.33 | 1.77 | +0.56 | +31.6% |
| Other expenses | 19.23 | 52.15 | −32.92 | −63.1% |
| Total expenses | 61.22 | 88.49 | −27.27 | −30.8% |
| Other income | 1.02 | 0.65 | +0.37 | +56.9% |
| Tax | 0 | −3.30 | +3.30 | |
| Exceptional items | +198.80 (gain) | −10.34 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
GTL reported standalone revenue of ₹120.44 crore in H1 FY27, up ₹9.31 crore or 8.4% from ₹111.13 crore in H1 FY26. Total income was ₹121.78 crore, up ₹9.47 crore or 8.4% from ₹112.31 crore, while other income was ₹134.87 lakhs against ₹118.13 lakhs.
Profit before tax and net profit for H1 FY27 were ₹521.19 crore, compared with losses of ₹23.87 crore in H1 FY26. The improvement was ₹545.06 crore, while basic EPS was ₹33.13 against a loss of ₹1.52. The filing records exceptional items of ₹53,309.78 lakhs during the period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 120.44 | 111.13 | +8.4% |
| Profit before tax | 521.19 | −23.87 | turned to profit |
| Net profit | 521.19 | −23.87 | turned to profit |
| EPS (₹) | 33.13 | −1.52 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, GTL reported total assets of ₹133.27 crore, compared with ₹132.36 crore at 31 March 2026. Total equity was negative ₹4,923.73 crore against negative ₹5,446.05 crore, and borrowings were ₹4,346.78 crore against ₹4,881.35 crore. Cash and cash equivalents were ₹4.65 crore, compared with ₹3.05 crore at 31 March 2026.
For H1 FY27, operating cash flow was ₹39.85 crore, compared with ₹141.93 crore in H1 FY26. Investing cash flow was negative ₹2.70 crore against negative ₹0.26 crore, financing cash flow was negative ₹35.55 crore against negative ₹66.85 crore, and capital expenditure was ₹3.31 crore against ₹1.47 crore. Trade payables were ₹9.38 crore, compared with ₹10.32 crore at 31 March 2026.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 133.27 | 132.36 |
| Total equity | −4,924 | −5,446 |
| Borrowings | 4,347 | 4,881 |
| Cash and equivalents | 4.65 | 3.05 |
| Inventories | 0 | 0 |
| Trade receivables | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 39.85 | 141.93 |
| Cash from investing | −2.70 | −0.26 |
| Cash from financing | −35.55 | −66.85 |
| Capital expenditure | 3.31 | 1.47 |
Source: Company's results filing (XBRL).
How has GTL done over the last 8 quarters?
Revenue in the reported quarterly series peaked at ₹69.90 crore in Q4 FY25 and bottomed at ₹51.03 crore in Q3 FY25. It rose in each of the last two quarters, reaching ₹60.41 crore in Q2 FY27 from ₹58.25 crore in Q4 FY26 and ₹60.02 crore in Q1 FY27.
Net profit peaked at ₹609.05 crore in Q4 FY26 and bottomed at a loss of ₹41.82 crore in Q3 FY25. It fell from ₹322.18 crore in Q1 FY27 to ₹199.01 crore in Q2 FY27, while the EBITDA margin improved from -3.2% to 19.4%. Over the full series, the margin peaked at 49.9% in Q4 FY25 and bottomed at -50.6% in Q3 FY25.
What did the auditors point out?
The auditor drew attention to a material uncertainty relating to going concern, stating that net worth had been substantially eroded over the past years and current liabilities exceeded current assets as at 30 September 2026. The auditor said these conditions indicated a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern, but the financial results were prepared on a going concern basis. The auditor added: “Our conclusion is not modified in respect of the above matter.”
The report also contained an emphasis of matter. The filing notes that the company’s net worth had eroded over the last few years and current liabilities were higher than current assets, while management believed the company could revive its business and continue operations upon completion of the ongoing lender settlement, based on lenders’ in-principle approvals.
Quick answers
What was GTL's revenue in Q2 FY27?
Revenue from operations was ₹60.41 crore, up 9.0% from ₹55.40 crore in Q2 FY26 (standalone).
Did GTL make a profit in Q2 FY27?
Yes. Net profit was ₹199.01 crore, against a net loss of ₹39.47 crore in Q2 FY26.
What was GTL's EPS in Q2 FY27?
Basic earnings per share were ₹12.65, against a loss of ₹2.51 in Q2 FY26.
When did GTL announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Un-Audited Financial Results For The Quarter And Period Ended September 30, 2026 (BSE, 29 October 2026) · PDF
- Un-Audited Financial Results For The Quarter And Period Ended September 30, 2026 (BSE, 5 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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