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IITL Projects Q2 FY27 results: net profit ₹1.22 crore vs ₹0.24 crore
IITL Projects Ltd reported standalone Q2 FY27 revenue of ₹0.10 crore, EBITDA of ₹0.99 crore and a net profit of ₹1.22 crore, compared with a net loss of ₹3.79 crore in Q1 FY27. Basic EPS was ₹2.45 for the September 2026 quarter, while the auditors continued to flag the company as a not going concern.
Key points
- Revenue was ₹0.10 crore in Q2 FY27, against ₹0 crore in Q2 FY26 and Q1 FY27.
- EBITDA was ₹0.99 crore in Q2 FY27, with an EBITDA margin of 1022.7%, versus a loss of ₹4.15 crore in Q1 FY27.
- Net profit was ₹1.22 crore in Q2 FY27, up ₹0.98 crore from Q2 FY26 and up ₹5.01 crore from Q1 FY27.
- Basic EPS was ₹2.45 for Q2 FY27, compared with ₹0.48 in Q2 FY26 and a loss of ₹7.60 in Q1 FY27.
- The stock was up 19.9% on the reaction day and 24.7% by the next day's close from its pre-results close.
How did IITL Projects perform in Q2 FY27?
IITL Projects reported standalone revenue of ₹0.10 crore for Q2 FY27, versus ₹0 crore in Q2 FY26 and Q1 FY27. EBITDA was ₹0.99 crore in Q2 FY27, compared with a loss of ₹0.12 crore in Q2 FY26 and a loss of ₹4.15 crore in Q1 FY27. The EBITDA margin was 1022.7% in the latest quarter.
Profit before tax was ₹1.32 crore in Q2 FY27, against ₹0.32 crore in Q2 FY26 and a loss of ₹3.70 crore in Q1 FY27. After tax of ₹0.09 crore, the company reported a net profit of ₹1.22 crore, versus a net profit of ₹0.24 crore in Q2 FY26 and a net loss of ₹3.79 crore in Q1 FY27. Basic EPS was ₹2.45, compared with ₹0.48 and a loss of ₹7.60, respectively. The results are standalone; no consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.10 | 0 | 0 | ||
| Other income | 0.33 | 0.44 | 0.44 | −25.0% | −25.0% |
| Total expenses | −0.89 | 4.15 | 0.12 | ||
| EBITDA | 0.99 | −4.15 | −0.12 | turned to profit | turned to profit |
| EBITDA margin | 1022.7% | ||||
| Profit before tax | 1.32 | −3.70 | 0.32 | +312.5% | turned to profit |
| Tax | 0.09 | 0.09 | 0.08 | +12.5% | +0.0% |
| Net profit | 1.22 | −3.79 | 0.24 | +408.3% | turned to profit |
| EPS (₹) | 2.45 | −7.60 | 0.48 | +410.4% | turned to profit |
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 IITL Projects' costs and profit?
Other income declined by ₹0.11 crore, or 25.0%, to ₹0.33 crore from ₹0.44 crore in Q2 FY26. Total expenses fell by ₹1.01 crore to ₹0.89 crore, while other expenses fell by ₹1.01 crore to ₹0.92 crore. Employee cost remained ₹0.03 crore, and finance costs, depreciation and cost of materials were unchanged at ₹0 crore.
Tax expense was ₹0.09 crore, up ₹0.01 crore, or 12.5%, from ₹0.08 crore in Q2 FY26. No exceptional item was reported in Q2 FY27. The filing stated that the company reversed an impairment loss of ₹1.00 crore during the quarter ended 30th September after receiving ₹75 Lakhs on 1st October 2026 and ₹25 Lakhs on 9th October 2026.
| ₹ 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 | −0.92 | 0.09 | −1.01 | |
| Total expenses | −0.89 | 0.12 | −1.01 | |
| Other income | 0.33 | 0.44 | −0.11 | −25.0% |
| Tax | 0.09 | 0.08 | +0.01 | +12.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹0.10 crore, against ₹0 crore in H1 FY26. Total income fell 5.4%, or ₹0.05 crore, to ₹0.87 crore from ₹0.92 crore.
Profit before tax moved from ₹0.57 crore in H1 FY26 to a loss of ₹2.39 crore in H1 FY27, a deterioration of ₹2.96 crore. Net profit moved from ₹0.42 crore to a loss of ₹2.57 crore, down ₹2.99 crore, while EPS moved from ₹0.85 to a loss of ₹5.14.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0.10 | 0 | |
| Profit before tax | −2.39 | 0.57 | turned to loss |
| Net profit | −2.57 | 0.42 | turned to loss |
| EPS (₹) | −5.14 | 0.85 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹32.77 crore, compared with ₹35.36 crore at 31 March 2026. Total equity was negative ₹2.80 crore, compared with negative ₹0.23 crore, while borrowings remained ₹0 crore. Cash and cash equivalents were ₹10.67 crore, up from ₹0.09 crore, and inventories remained ₹0.60 crore.
H1 FY27 operating cash flow was ₹9.76 crore, compared with negative ₹0.73 crore in H1 FY26. Investing cash flow was ₹0.82 crore, compared with ₹0.36 crore, while financing cash flow was ₹0 crore in both periods. Cash and cash equivalents at the end of the period were ₹10.67 crore, against ₹0.09 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 32.77 | 35.36 |
| Total equity | −2.80 | −0.23 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 10.67 | 0.09 |
| Inventories | 0.60 | 0.60 |
| Trade receivables | 0.11 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 9.76 | −0.73 |
| Cash from investing | 0.82 | 0.36 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has IITL Projects done over the last 8 quarters?
The quarterly trend showed net profit at its highest in Q4 FY25 at ₹35.02 crore, while the lowest was Q1 FY27 at a loss of ₹3.79 crore. Profit recovered to ₹1.22 crore in Q2 FY27 from the loss in Q1 FY27, but remained below ₹0.64 crore reported in Q3 FY26.
Revenue was ₹0.10 crore in Q2 FY27 after being reported at ₹0 crore in each of the preceding three quarters. The latest EBITDA margin was 1022.7%, while no margin figure was given for the earlier quarters.
What did the auditors point out?
The auditors’ report included an emphasis of matter and stated that the accumulated loss of Rs.780.51 lakhs exceeded the paid-up capital, with net worth fully eroded. It also said that total liabilities exceeded total assets and that present cash flows were not adequate to meet liabilities, adding that the company continued to be a not going concern.
The auditors stated that the financial statements continued to be prepared on a realizable value basis, with assets valued at realisation value where lower than cost and known liabilities fully provided for. The report was not modified in respect of the matters mentioned in paragraph 4, and no qualified opinion was reported.
How did IITL Projects shares react?
The stock was up 19.9% on the reaction day from its pre-results close of ₹41.70. By the next day's close, it was up 24.7% from that close, compared with a 0.2% decline for the industry median and a 19.9% reaction-day gain for the sector median.
Earlier reaction-day moves were mixed: the stock fell 5.0% on 4 August 2026 and 5.2% on 12 November 2025, while it rose 4.3% on 3 February 2026 and 5.3% on 23 May 2025. The filing was made after market hours, and no five-day reaction or five-day industry move was given.
| After the filing | Stock | Residential, Commercial Projects median |
|---|---|---|
| Reaction day | +19.9% | +0.4% |
| Next day | +24.7% | −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 |
|---|---|
| 4 August 2026 | −5.0% |
| 3 February 2026 | +4.3% |
| 12 November 2025 | −5.2% |
| 6 August 2025 | −0.1% |
| 23 May 2025 | +5.3% |
| 13 August 2024 | −2.1% |
| 30 May 2024 | +1.4% |
Source: MarketPing price-reaction measurement.
How did other Residential, Commercial Projects companies do?
Twelve other Residential, Commercial Projects companies were compared for revenue growth. Their median revenue growth was 46.9%, and seven reported higher profit. The number of peers growing more slowly than IITL Projects was not provided, while the number growing faster was also not provided.
| IITL Projects revenue growth (YoY) | not comparable |
|---|---|
| Median of 12 other Residential, Commercial Projects companies | +46.9% |
| Companies whose net profit rose | 7 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was IITL Projects' revenue in Q2 FY27?
Revenue from operations was ₹0.10 crore, against ₹0 crore in Q2 FY26 (standalone).
Did IITL Projects make a profit in Q2 FY27?
Yes. Net profit was ₹1.22 crore, against a net profit of ₹0.24 crore in Q2 FY26.
What was IITL Projects' EPS in Q2 FY27?
Basic earnings per share were ₹2.45, against ₹0.48 in Q2 FY26.
How did IITL Projects shares react to the Q2 FY27 results?
On the reaction day the stock moved +19.9% from the previous close; the median Residential, Commercial Projects stock moved +0.4%.
When did IITL Projects announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Quarter And Half Year Ended September 30, 2026 (BSE, 15 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On October 30, 2026 (BSE, 30 October 2026) · PDF
- Unaudited Standalone Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 30 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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