Jet Freight Logistics Q2 FY27 results: net profit up 139.1% to ₹2.08 crore, revenue up 41.0%

How did Jet Freight Logistics perform in Q2 FY27?

Jet Freight Logistics reported consolidated revenue of ₹118.11 crore for Q2 FY27, up 41.0% from ₹83.78 crore in Q2 FY26, with total income of ₹118.44 crore against ₹84.29 crore. EBITDA rose 109.3% to ₹5.84 crore from ₹2.79 crore, and the EBITDA margin widened 1.6 percentage points to 4.9% from 3.3%.

Profit before tax rose 118.2% to ₹2.88 crore from ₹1.32 crore, and net profit was ₹2.08 crore against ₹0.87 crore, a rise of 139.1%. Basic EPS was ₹0.45 against ₹0.19. On a standalone basis, revenue was ₹118.08 crore and profit after tax was ₹2.07 crore, with profit before tax of ₹0.87 crore.

Sequentially, Q1 FY27 had recorded ₹178.99 crore of revenue and ₹2.53 crore of net profit, so revenue fell 34.0% and net profit fell 17.8% in Q2 FY27. EBITDA was ₹5.84 crore against ₹6.52 crore in Q1 FY27, while the margin rose 1.3 percentage points to 4.9% from 3.6%. Basic EPS fell to ₹0.45 from ₹0.55.

What changed in Jet Freight Logistics' costs and profit?

Total expenses rose 39.3% to ₹115.55 crore from ₹82.97 crore in the year-ago quarter, below the 41.0% rise in revenue. Other expenses were the largest line, up 41.8% to ₹107.56 crore from ₹75.84 crore, while employee cost fell 8.4% to ₹4.71 crore from ₹5.14 crore.

Finance costs rose 84.2% to ₹2.80 crore from ₹1.52 crore, and depreciation was ₹0.48 crore against ₹0.47 crore. Other income fell 38.5% to ₹0.32 crore from ₹0.52 crore. There was no exceptional item in the quarter.

Tax expense rose 80.0% to ₹0.81 crore from ₹0.45 crore, so net profit of ₹2.08 crore came after profit before tax of ₹2.88 crore, up from ₹1.32 crore. The filings do not state why the cost lines or other income moved as they did.

How did the first half of FY27 go?

For H1 FY27, Jet Freight Logistics reported consolidated revenue of ₹297.1 crore, up 46.0% from ₹203.5 crore in H1 FY26, and total income of ₹297.66 crore against ₹205.48 crore, up 44.9%.

Profit before tax rose 77.0% to ₹6.55 crore from ₹3.7 crore, and net profit was ₹4.6 crore against ₹2.65 crore, up 73.6%. Basic EPS for the half year was ₹0.99 against ₹0.57.

What do the balance sheet and cash flow show?

On the consolidated balance sheet as of 30 September 2026, total assets stood at ₹222.6 crore against ₹192.45 crore as of 31 March 2026, and total equity was ₹93.33 crore. Borrowings were ₹84.37 crore, while cash and cash equivalents were ₹0.57 crore against ₹0.96 crore at the previous balance sheet date.

Trade receivables were ₹109.68 crore and trade payables were ₹34.29 crore as of 30 September 2026. There was no inventory reported at either date. The previous balance sheet comparison figures for equity, borrowings, receivables and payables were not given.

In H1 FY27, operating cash flow was negative ₹23.94 crore against ₹5.09 crore in H1 FY26, while investing cash flow was ₹0.18 crore against negative ₹1.57 crore. Financing cash flow was ₹23.38 crore against negative ₹3.58 crore, and capital expenditure was nil against ₹0.45 crore.

How has Jet Freight Logistics done over the last 8 quarters?

Revenue has risen year on year in each of the last four quarters. It reached ₹178.99 crore in Q1 FY27 before falling to ₹118.11 crore in Q2 FY27, which was still above ₹113.2 crore in Q3 FY26 and ₹127.6 crore in Q4 FY26.

The EBITDA margin bottomed at 2.5% in Q1 FY26 and reached 5.0% in Q4 FY26, then eased to 3.6% in Q1 FY27 before rising to 4.9% in Q2 FY27. Net profit rose year on year in each of the last two quarters.

Within the period shown, quarterly revenue was lowest at ₹83.78 crore in Q2 FY26 and highest at ₹178.99 crore in Q1 FY27. Net profit was lowest at ₹0.34 crore in Q4 FY25 and highest at ₹2.53 crore in Q1 FY27.

What else did the company announce?

Alongside the results, the company filed on 28 October 2026 for the appointment of two senior managers. The board approved the appointment of Ms. Tyra Richard Theknath as Manager Marketing and Mr. Tyrus Richard Theknath as Manager – Special Projects, with both designated as Senior Management Personnel effective 1 November 2026, on the recommendation of the Nomination & Remuneration Committee.

The filing stated that Ms. Tyra Richard Theknath is the daughter of Mr. Richard Francis Theknath, Chairman and Managing Director, and Mr. Tyrus Richard Theknath is his son. The same-day results filing recorded that the board had approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, along with limited review reports from Ajay Shobha & Co.

What did Jet Freight Logistics' management say?

Management said FY27 revenue is planned at around ₹580–600 crore, with the PAT margin expected to double, and no absolute margin percentage specified. On the call, Chairman and Managing Director Richard Theknath said, "current infrastructure can even do double the business that we are currently doing."

Management said H1 shipments rose 56% to 674 and tonnage rose 32.84% to 744 tons. It added that a retail courier offering has been launched and a digital booking and tracking platform for cargo and courier is targeted by end-2026.

Management said the pending NatWest transaction is not yet completed because paperwork is ongoing, and that it is expected to add little in FY27 with significant growth expected in FY28. On ocean freight, management said it intends to expand the business to grow company scale, but gave no medium-term revenue target.

Management identified risks including freight rate and fuel price volatility on lanes, the South American expansion being sales-led because the company lacks bandwidth for owned operations, and the expected margin improvement remaining unquantified and dependent on execution.

How did Jet Freight Logistics shares react?

The results were released on 28 October 2026 and the stock traded in the market. From the price when the filing appeared, it was up 2.1% after five minutes, up 1.5% after 15 minutes and up 1.6% after 30 minutes.

On the reaction day, the stock closed up 1.8% from the previous close of ₹18.08. By the next day's close, the stock was up 4.3% from its pre-results close. The industry median move was up 0.8% on the reaction day and up 0.7% by the next day's close, leaving the stock ahead by 1.0 percentage point and 3.5 percentage points.

How did other Logistics Solution Provider companies do?

Fifteen other Logistics Solution Provider companies were compared for the quarter, with a median revenue growth of 9.2%. Thirteen of them grew revenue more slowly than Jet Freight Logistics, and two grew faster than the company.

Profit was compared across 13 peers, of which 10 reported higher profit.