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Industrial Investment Trust Q2 FY27 results: net profit ₹6.66 crore vs ₹3.22 crore loss
Industrial Investment Trust Limited reported consolidated revenue of ₹11.20 crore and a net profit of ₹6.66 crore for Q2 FY27, against a net loss of ₹3.22 crore in the year-ago quarter. Basic EPS was ₹2.86, while profit before tax stood at ₹8.14 crore. On a standalone basis, revenue was ₹10.78 crore and net profit was ₹5.44 crore.
Key points
- Consolidated revenue was ₹11.20 crore in Q2 FY27, up ₹12.02 crore from the year-ago quarter.
- Profit before tax was ₹8.14 crore, against a loss of ₹4 crore in Q2 FY26.
- Net profit was ₹6.66 crore and basic EPS was ₹2.86, versus a net loss of ₹3.22 crore and EPS of ₹1.46 loss a year ago.
- Total expenses fell 3.2% to ₹3.07 crore from ₹3.17 crore in Q2 FY26.
- For H1 FY27, revenue was ₹38.06 crore and net profit was ₹20.9 crore.
How did Industrial Investment Trust perform in Q2 FY27?
Industrial Investment Trust reported consolidated revenue of ₹11.20 crore for Q2 FY27, the July–September 2026 quarter, against ₹0.82 crore in the year-ago quarter. Profit before tax was ₹8.14 crore against a loss of ₹4 crore, and net profit was ₹6.66 crore against a net loss of ₹3.22 crore. Basic EPS was ₹2.86, against EPS of ₹1.46 loss in Q2 FY26.
Against the previous quarter, revenue fell ₹15.65 crore, or 58.3%, from ₹26.85 crore in Q1 FY27. Profit before tax fell ₹11.79 crore, or 59.2%, from ₹19.93 crore, while net profit fell ₹7.58 crore, or 53.2%, from ₹14.24 crore. Basic EPS was ₹3.93 lower at ₹2.86 versus ₹6.79. On a standalone basis, revenue was ₹10.78 crore and net profit was ₹5.44 crore, against ₹3.46 crore loss in the year-ago quarter. EBITDA and its margin were not reported for the quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 11.20 | 26.85 | −0.82 | −58.3% | |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 3.07 | 6.93 | 3.17 | −3.2% | −55.7% |
| Profit before tax | 8.14 | 19.93 | −4 | turned to profit | −59.2% |
| Tax | 1.48 | 5.69 | −0.77 | −74.0% | |
| Net profit | 6.66 | 14.24 | −3.22 | turned to profit | −53.2% |
| EPS (₹) | 2.86 | 6.79 | −1.46 | turned to profit | −57.9% |
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 Industrial Investment Trust's costs and profit?
Total expenses fell ₹0.10 crore, or 3.2%, to ₹3.07 crore from ₹3.17 crore in Q2 FY26. Employee cost fell ₹0.04 crore, or 4.2%, to ₹0.91 crore, while finance costs rose ₹0.14 crore, or 140.0%, to ₹0.24 crore. Depreciation rose ₹0.20 crore, or 41.7%, to ₹0.68 crore, and other expenses rose ₹0.59 crore, or 35.8%, to ₹2.24 crore.
Other income was unchanged at no exceptional item, and there was no exceptional item in the quarter. Tax was ₹1.48 crore against a tax credit of ₹0.77 crore in Q2 FY26, a difference of ₹2.25 crore. Against Q1 FY27, total expenses fell ₹3.86 crore, or 55.7%, while other expenses rose ₹1.13 crore, or 101.8%, and tax fell ₹4.21 crore, or 74.0%. The filings do not state reasons for the movements in the cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 0.91 | 0.95 | −0.04 | −4.2% |
| Finance costs | 0.24 | 0.10 | +0.14 | +140.0% |
| Depreciation | 0.68 | 0.48 | +0.20 | +41.7% |
| Other expenses | 2.24 | 1.65 | +0.59 | +35.8% |
| Total expenses | 3.07 | 3.17 | −0.10 | −3.2% |
| Other income | 0 | 0 | 0 | |
| Tax | 1.48 | −0.77 | +2.25 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹38.06 crore against ₹14.71 crore in H1 FY26, a rise of ₹23.35 crore, or 158.7%. Total income was also ₹38.06 crore against ₹14.71 crore, up ₹23.35 crore, or 158.7%.
Profit before tax for H1 FY27 was ₹28.06 crore against ₹8.86 crore, a rise of ₹19.2 crore, or 216.7%. Net profit was ₹20.9 crore against ₹7.1 crore, up ₹13.8 crore, or 194.4%, and EPS was ₹9.7 against ₹3.1, up ₹6.6, or 212.9%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 38.06 | 14.71 | +158.7% |
| Profit before tax | 28.06 | 8.86 | +216.7% |
| Net profit | 20.90 | 7.10 | +194.4% |
| EPS (₹) | 9.70 | 3.10 | +212.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹425.99 crore as on 30 September 2026, against ₹426.23 crore as on 31 March 2026. Total equity was ₹418.0 crore against ₹422.05 crore, and cash was ₹12.56 crore against ₹1.69 crore. Inventories were unchanged at ₹0.6 crore. Borrowings were not reported on either balance sheet date.
For H1 FY27, operating cash flow was an outflow of ₹35.31 crore, against an inflow of ₹65.4 crore in H1 FY26. Investing cash flow was an inflow of ₹71.24 crore against an outflow of ₹49.4 crore, and financing cash flow was an outflow of ₹25.06 crore against ₹0.42 crore. Capital expenditure was ₹1.36 crore against ₹0.03 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 425.99 | 426.23 |
| Total equity | 418 | 422.05 |
| Cash and equivalents | 12.56 | 1.69 |
| Inventories | 0.60 | 0.60 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −35.31 | 65.40 |
| Cash from investing | 71.24 | −49.40 |
| Cash from financing | −25.06 | −0.42 |
| Capital expenditure | 1.36 | 0.03 |
Source: Company's results filing (XBRL).
How has Industrial Investment Trust done over the last 8 quarters?
Revenue and profit have moved unevenly across the last eight quarters. Revenue was lowest at ₹41.18 crore in Q4 FY26 and peaked at ₹26.85 crore in Q1 FY27. Profit after tax was lowest at ₹25.47 crore in Q4 FY26 and peaked at ₹14.24 crore in Q1 FY27. In Q2 FY27, revenue was ₹11.20 crore and profit after tax was ₹6.66 crore. EBITDA margin was not reported for any of the listed quarters.
Which businesses drove the quarter?
Investment Activity reported revenue of ₹5.9 crore and EBIT of ₹2.08 crore for Q2 FY27, with an EBIT margin of 35.3%. Lending Activity reported revenue of ₹4.88 crore and EBIT of ₹4.75 crore, with an EBIT margin of 97.4%. Real Estate Activity reported revenue of ₹0.42 crore and EBIT of ₹1.31 crore, with an EBIT margin of 308.6%. Year-ago segment revenue and EBIT were not given, so segment growth against Q2 FY26 cannot be stated.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Investment Activity | 5.90 | 2.08 | 35.3% | |
| Lending Activity | 4.88 | 4.75 | 97.4% | |
| Real Estate Activity | 0.42 | 1.31 | 308.6% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved borrowing of funds up to an aggregate limit of Rs. 200 Crores from banks, financial institutions, NBFCs and/or other lenders, with or without security. The company said the funds would be used for principal business activities, including onward lending, financing and meeting operational/working capital requirements. The approval follows a special resolution passed at the Annual General Meeting on 17 September 2026 authorising the board to borrow up to Rs. 1,000 Crores at any point of time, and no specific lender had been identified at that stage. The same-day filings also covered the unaudited standalone and consolidated results, the statement of assets and liabilities, the cash flow statement, and the limited review reports. No dividend, fund raise or appointment was disclosed in those filings.
What did the auditors point out?
Maharaj N R Suresh and Co LLP issued limited review reports and drew attention to the investment in subsidiary IITL Projects Limited. The auditors stated that as on 30 September 2026, the accumulated loss of Rs. 780.51 lakhs exceeds the paid-up capital, net worth stands fully eroded, and total liabilities exceed total assets. They said the present cash flows are not adequate to meet the liabilities, so the company continues to be a not going concern, and 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 auditors stated that their report is not modified in respect of this matter, and nothing came to their attention indicating that the results did not disclose the information required under Regulation 33 or contained a material misstatement.
How did Industrial Investment Trust shares react?
Earlier results-day moves were mixed. The stock fell 1.5% on 5 August 2026, 3.5% on 23 May 2026, 0.4% on 4 February 2026 and 1.9% on 12 November 2025. It rose 4.4% on 6 August 2025 and 0.8% on 9 November 2024, and earlier falls were recorded on 24 May 2025 and 4 February 2025.
| After the filing | Stock | Investment Company median |
|---|---|---|
| 5 minutes | +5.5% | |
| 15 minutes | +3.8% | |
| 30 minutes | +5.2% | |
| Reaction day | +9.8% | +0.8% |
| Next day | +7.2% | +1.4% |
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 |
|---|---|
| 5 August 2026 | −1.5% |
| 23 May 2026 | −3.5% |
| 4 February 2026 | −0.4% |
| 12 November 2025 | −1.9% |
| 6 August 2025 | +4.4% |
| 24 May 2025 | −2.7% |
| 4 February 2025 | −2.0% |
| 9 November 2024 | +0.8% |
Source: MarketPing price-reaction measurement.
How did other Investment Company companies do?
Twenty-one other Investment Company companies had filed this quarter by 4 November 2026, with a median revenue growth of 26.5%. Against Industrial Investment Trust, the number of peers that grew revenue faster was 21 and the number that grew slower was 0, with the company itself excluded from the peer count. Of the 22 peers whose profit was compared, 17 reported higher profit.
| Industrial Investment Trust revenue growth (YoY) | not comparable |
|---|---|
| Median of 21 other Investment Company companies | +26.5% |
| Companies whose net profit rose | 17 of 22 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Industrial Investment Trust's revenue in Q2 FY27?
Revenue from operations was ₹11.20 crore, against ₹0.82 crore in Q2 FY26 (consolidated).
Did Industrial Investment Trust make a profit in Q2 FY27?
Yes. Net profit was ₹6.66 crore, against a net loss of ₹3.22 crore in Q2 FY26.
What was Industrial Investment Trust's EPS in Q2 FY27?
Basic earnings per share were ₹2.86, against a loss of ₹1.46 in Q2 FY26.
How did Industrial Investment Trust shares react to the Q2 FY27 results?
On the reaction day the stock moved +9.8% from the previous close; the median Investment Company stock moved +0.8%.
When did Industrial Investment Trust announce its Q2 FY27 results?
On 31 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of The Board Meeting 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 31.10.2026 (BSE, 31 October 2026) · PDF
- Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended September 30, 2026 - Regulations 30, 33 And Other Applicable Provisions Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015. (BSE, 31 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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