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IEC Education Q2 FY27 results: net loss widens to ₹1.04 crore
IEC Education Limited reported a consolidated net loss of ₹1.04 crore in Q2 FY27, compared with a net loss of ₹0.04 crore in Q2 FY26 and ₹0.05 crore in Q1 FY27. Revenue remained ₹0 crore, while total expenses rose to ₹0.15 crore and tax expense was ₹0.89 crore; basic EPS was ₹0.68.
Key points
- Revenue was ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27.
- EBITDA was ₹0.15 crore in Q2 FY27, against ₹0.04 crore in Q2 FY26 and ₹0.05 crore in Q1 FY27.
- The company reported a net loss of ₹1.04 crore in Q2 FY27, compared with a net loss of ₹0.04 crore in Q2 FY26.
- Total expenses were ₹0.15 crore in Q2 FY27, up from ₹0.04 crore in Q2 FY26 and ₹0.05 crore in Q1 FY27.
- Basic EPS was ₹0.68 in Q2 FY27, compared with ₹0.03 in Q2 FY26 and ₹0.03 in Q1 FY27.
How did IEC Education perform in Q2 FY27?
IEC Education reported ₹0 crore of consolidated revenue in Q2 FY27, unchanged from both Q2 FY26 and Q1 FY27. EBITDA was ₹0.15 crore, compared with ₹0.04 crore in the year-ago quarter and ₹0.05 crore in the previous quarter; no EBITDA margin percentage was reported. The figures shown for losses and EPS are absolute values.
The company reported a net loss of ₹1.04 crore in Q2 FY27, against a net loss of ₹0.04 crore in Q2 FY26 and ₹0.05 crore in Q1 FY27. Basic EPS was ₹0.68, compared with ₹0.03 in both comparison quarters. On the standalone basis, revenue was ₹0 crore, the net loss was ₹1.03 crore and loss before tax was ₹0.04 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | ||
| Other income | 0 | 0 | 0 | ||
| Total expenses | 0.15 | 0.05 | 0.04 | +275.0% | +200.0% |
| EBITDA | −0.15 | −0.05 | −0.04 | ||
| Profit before tax | −0.15 | −0.05 | −0.04 | ||
| Tax | 0.89 | 0 | 0 | ||
| Net profit | −1.04 | −0.05 | −0.04 | ||
| EPS (₹) | −0.68 | −0.03 | −0.03 |
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 IEC Education's costs and profit?
Total expenses increased to ₹0.15 crore in Q2 FY27 from ₹0.04 crore in Q2 FY26, a rise of ₹0.11 crore, or 275.0%. Other expenses accounted for the movement, rising to ₹0.12 crore from ₹0.02 crore, an increase of ₹0.10 crore, or 500.0%. Employee cost was unchanged at ₹0.03 crore, while finance cost, depreciation and cost of materials remained unchanged.
Other income was unchanged at ₹0 crore, and the company reported no exceptional item in Q2 FY27. Tax expense increased by ₹0.89 crore from Q2 FY26. EBITDA and profit before tax both fell by ₹0.11 crore, while the net loss widened by ₹1 crore against the year-ago quarter. Against Q1 FY27, total expenses rose by ₹0.10 crore, or 200.0%, and tax expense rose by ₹0.89 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.03 | 0.03 | 0 | +0.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.12 | 0.02 | +0.10 | +500.0% |
| Total expenses | 0.15 | 0.04 | +0.11 | +275.0% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.89 | 0 | +0.89 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, revenue and total income were ₹0 crore, unchanged from H1 FY26. Loss before tax widened by ₹0.12 crore to ₹0.2 crore from a loss of ₹0.08 crore, while the net loss increased by ₹1.01 crore to ₹1.09 crore from ₹0.08 crore.
Basic EPS for H1 FY27 was ₹0.71, compared with ₹0.05 in H1 FY26, a deterioration of ₹0.66. The filing states that IEC Education did not carry out any business activity during the half-year ended September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 0 | |
| Profit before tax | −0.20 | −0.08 | |
| Net profit | −1.09 | −0.08 | |
| EPS (₹) | −0.71 | −0.05 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹26.79 crore on 30 September 2026, compared with ₹28.08 crore on 31 March 2026. Total equity was ₹26.6 crore against ₹27.69 crore, while trade receivables remained ₹3.25 crore and trade payables were ₹0.04 crore, compared with ₹0 crore at the previous balance sheet date.
The company reported no borrowings and cash of ₹0.07 crore on both 30 September 2026 and 31 March 2026. Operating cash flow for H1 FY27 was ₹0.01 crore, unchanged from H1 FY26, while investing cash flow, financing cash flow and capital expenditure were unchanged at ₹0 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 26.79 | 28.08 |
| Total equity | 26.60 | 27.69 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.07 | 0.07 |
| Inventories | 0 | 0 |
| Trade receivables | 3.25 | 3.25 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.01 | −0.01 |
| Cash from investing | 0 | 0 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has IEC Education done over the last 8 quarters?
Revenue remained ₹0 crore throughout the reported quarters from Q3 FY25 to Q2 FY27, and no EBITDA margin percentage was provided. The net loss was ₹0.03 crore in Q3 FY25, narrowed to ₹0.04 crore in Q1 FY26 and Q2 FY26, and widened to ₹2.37 crore in Q4 FY26.
The net loss improved to ₹0.05 crore in Q1 FY27 before widening to ₹1.04 crore in Q2 FY27. The reported quarterly series therefore shows no operating revenue and varying losses, with the lowest loss in Q3 FY25 and the highest in Q4 FY26.
What did the auditors point out?
S. N. Kapur & Associates conducted a limited review under SRE 2410 and said nothing had come to its attention, except as noted, that the standalone statement had not disclosed required information or contained a material misstatement. The review provided moderate assurance and was less extensive than an audit; the auditors did not express an audit opinion.
The auditors stated: “The absence of business activities may raise substantial doubt regarding the entity’s ability to continue as a going concern/ in accordance with the requirements of SA-570 issued by the Institute of Chartered Accountants of India (ICAI).” The filing separately marked the statement of impact of audit qualifications as not applicable for the current quarter.
How did IEC Education shares react?
IEC Education’s shares rose 0.3% from the previous close to the close of the first session that could trade after the after-market filing on 29 October 2026. By the next day’s close, the stock was down 1.3% from its pre-results close; the five-session move was not available.
On the reaction day, the Software Products industry median moved down 0.5%, while the Nifty Microcap 250 moved down 2.5%. IEC Education therefore exceeded the industry median by 0.9 percentage points on the reaction day. Earlier reaction-day moves were down 3.9% on 23 July 2026, down 4.6% on 13 May 2026 and up 0.6% on 14 February 2026.
| After the filing | Stock | Software Products median |
|---|---|---|
| Reaction day | +0.3% | −0.5% |
| Next day | −1.3% | +0.2% |
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 |
|---|---|
| 23 July 2026 | −3.9% |
| 13 May 2026 | −4.6% |
| 14 February 2026 | +0.6% |
| 14 November 2025 | +5.0% |
| 12 August 2025 | −2.0% |
| 29 May 2025 | +5.0% |
Source: MarketPing price-reaction measurement.
How did other Software Products companies do?
Among 10 other Software Products companies that had filed for the quarter, the median revenue growth was 10.2%. The available peer data did not include the number of other companies whose revenue grew faster or slower than IEC Education’s, because the company reported revenue of ₹0 crore.
Eight of 13 peers with comparable profit data reported higher profit. IEC Education, meanwhile, reported a net loss of ₹1.04 crore for Q2 FY27, while its revenue remained ₹0 crore.
| IEC Education revenue growth (YoY) | not comparable |
|---|---|
| Median of 10 other Software Products companies | +10.2% |
| Companies whose net profit rose | 8 of 13 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was IEC Education's revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0 crore in Q2 FY26 (consolidated).
Did IEC Education make a profit in Q2 FY27?
No. It reported a net loss of ₹1.04 crore, against a net loss of ₹0.04 crore in Q2 FY26.
What was IEC Education's EPS in Q2 FY27?
Basic loss per share was ₹0.68, against a loss of ₹0.03 in Q2 FY26.
How did IEC Education shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.3% from the previous close; the median Software Products stock moved −0.5%.
When did IEC Education announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 29 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 29 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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