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Mahaveer Infoway Q2 FY27 results: net loss of ₹0.07 crore vs ₹0.03 crore profit
Mahaveer Infoway Limited reported standalone results for Q2 FY27, the quarter ended 30 September 2026, with no revenue from operations and a net loss of ₹0.07 crore. Total income was ₹0.12 crore, against ₹0.67 crore in Q2 FY26, while basic EPS was ₹0.13 against ₹0.05 a year earlier. The results were approved by the board on 3 November 2026 and reviewed by the statutory auditor.
Key points
- Revenue from operations was ₹0 crore in Q2 FY27, against ₹0.67 crore in Q2 FY26.
- Total income fell 82.1% to ₹0.12 crore from ₹0.67 crore a year earlier.
- The company reported a net loss of ₹0.07 crore, against a net profit of ₹0.03 crore in Q2 FY26.
- Total expenses fell 70.8% to ₹0.19 crore, led by employee cost at ₹0.14 crore and other expenses at ₹0.03 crore.
- Other income was ₹0.12 crore against no other income in Q2 FY26, and there was no exceptional item.
How did Mahaveer Infoway perform in Q2 FY27?
Mahaveer Infoway recorded no revenue from operations in Q2 FY27, the July–September 2026 quarter, against ₹0.67 crore in the year-ago quarter. Total income, which includes other income, was ₹0.12 crore against ₹0.67 crore in Q2 FY26, a fall of 82.1%. The figures are on a standalone basis.
The company reported an EBITDA loss of ₹0.17 crore in Q2 FY27 against EBITDA of ₹0.06 crore in Q2 FY26, when the margin was 8.9%. A margin figure was not available for the current quarter. Loss before tax was ₹0.07 crore, compared with a profit of ₹0.03 crore a year earlier.
Against Q1 FY27, revenue from operations was unchanged at ₹0 crore, while total income rose 71.4% to ₹0.12 crore from ₹0.07 crore. The EBITDA loss narrowed by ₹0.01 crore to ₹0.17 crore, and the net loss narrowed by ₹0.06 crore to ₹0.07 crore from ₹0.13 crore. Basic EPS was ₹0.13 against ₹0.23 in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0.67 | ||
| Other income | 0.12 | 0.07 | 0 | +71.4% | |
| Total expenses | 0.19 | 0.20 | 0.65 | −70.8% | −5.0% |
| EBITDA | −0.17 | −0.18 | 0.06 | turned to loss | |
| Profit before tax | −0.07 | −0.13 | 0.03 | turned to loss | |
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.07 | −0.13 | 0.03 | turned to loss | |
| EPS (₹) | −0.13 | −0.23 | 0.00 | turned to loss |
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 Mahaveer Infoway's costs and profit?
Total expenses fell 70.8% to ₹0.19 crore in Q2 FY27 from ₹0.65 crore in Q2 FY26. Employee cost was the largest line at ₹0.14 crore, down ₹0.28 crore or 66.7% from ₹0.42 crore. Other expenses fell ₹0.13 crore or 81.2% to ₹0.03 crore from ₹0.16 crore, and depreciation was unchanged at ₹0.03 crore.
Other income was ₹0.12 crore in Q2 FY27 against no other income in Q2 FY26, a rise of ₹0.12 crore. There was no exceptional item in either quarter, and tax expense was unchanged at no tax. The filing does not state a reason for the absence of operating revenue.
Sequentially, employee cost rose ₹0.01 crore or 7.7% to ₹0.14 crore from ₹0.13 crore in Q1 FY27, while other expenses fell ₹0.02 crore or 40.0% to ₹0.03 crore from ₹0.05 crore. Other income rose ₹0.05 crore to ₹0.12 crore, and total expenses fell 5.0% to ₹0.19 crore from ₹0.20 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.14 | 0.42 | −0.28 | −66.7% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.03 | 0.03 | 0 | +0.0% |
| Other expenses | 0.03 | 0.16 | −0.13 | −81.2% |
| Total expenses | 0.19 | 0.65 | −0.46 | −70.8% |
| Other income | 0.12 | 0 | +0.12 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, revenue from operations was ₹0 crore, against ₹1.43 crore in H1 FY26. Total income fell 86.7% to ₹0.19 crore from ₹1.43 crore in the year-ago first half. The company said the standalone results were approved by the board on 3 November 2026.
Profit before tax moved from ₹0.13 crore in H1 FY26 to a loss of ₹0.20 crore in H1 FY27, a difference of ₹0.33 crore. The net result was also a loss of ₹0.20 crore against a profit of ₹0.13 crore, and basic EPS for the half year was ₹0.36 against ₹0.02 in H1 FY26. The filing records no exceptional item for the period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 1.43 | |
| Profit before tax | −0.20 | 0.13 | turned to loss |
| Net profit | −0.20 | 0.13 | turned to loss |
| EPS (₹) | −0.36 | 0.02 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹6.03 crore as on 30 September 2026, against ₹6.51 crore as on 31 March 2026. Total equity was ₹4.47 crore compared with ₹4.67 crore at the previous balance sheet date. The company had no borrowings at either date, while cash rose to ₹0.02 crore from ₹0.01 crore.
Inventories were unchanged at ₹0.36 crore and trade receivables were unchanged at ₹0.11 crore between 31 March 2026 and 30 September 2026. Trade payables fell to ₹0 crore from ₹0.01 crore. In the first half of FY27, operating cash flow was ₹0.04 crore against a negative ₹0.03 crore in H1 FY26, and investing cash flow was a negative ₹0.09 crore against no outflow in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 6.03 | 6.51 |
| Total equity | 4.47 | 4.67 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.02 | 0.01 |
| Inventories | 0.36 | 0.36 |
| Trade receivables | 0.11 | 0.11 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.04 | −0.03 |
| Cash from investing | −0.09 | 0 |
| Cash from financing | 0 | −0.03 |
| Capital expenditure | 0.16 | 0 |
Source: Company's results filing (XBRL).
How has Mahaveer Infoway done over the last 8 quarters?
Revenue peaked at ₹0.75 crore in Q1 FY26 and reached a low of ₹0 crore in Q1 FY27, staying at ₹0 crore in Q2 FY27. That compares with ₹0.67 crore in Q2 FY26 and ₹0.68 crore in Q3 FY26, before falling to ₹0.51 crore in Q4 FY26.
Net profit peaked at ₹0.46 crore in Q4 FY26 and bottomed at a loss of ₹0.23 crore in Q4 FY25. Profit then moved to ₹0.10 crore in Q1 FY26 and ₹0.05 crore in Q3 FY26 before losses of ₹0.13 crore in Q1 FY27 and ₹0.07 crore in Q2 FY27. The current direction is a narrower loss than the previous quarter.
The EBITDA margin was highest at 29.1% in Q3 FY25 and lowest at -143.9% in Q4 FY25, and stood at 11.7% in Q3 FY26 and 8.9% in Q2 FY26. A margin figure was not available for either FY27 quarter. The trend data did not provide a streak.
Which businesses drove the quarter?
The IT segment reported no revenue in Q2 FY27 against ₹0.67 crore in Q2 FY26, and its EBIT was a loss of ₹0.19 crore against ₹0.03 crore of profit a year earlier. The Mobiles segment recorded no revenue and no EBIT, against EBIT of -₹0.0 crore in the year-ago quarter.
The Education segment reported no revenue and no EBIT in both Q2 FY27 and Q2 FY26. Unallocated revenue was ₹0.12 crore in Q2 FY27 against no revenue a year earlier, with EBIT of ₹0.12 crore at a 100.0% margin. Total segment revenue for the quarter was ₹0.12 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Mobiles | 0 | 0 | ||
| IT | 0 | −0.19 | ||
| Education | 0 | 0 | ||
| Unallocated | 0.12 | 0.12 | 100.0% |
Source: Company's results filing (XBRL segment data).
How did Mahaveer Infoway shares react?
The results were announced after market hours on 3 November 2026. On the reaction day, the stock fell 9.3% from its previous close of ₹10.25. No reaction data were available for the next day's close or for the five-session window, and no industry median move was available for comparison.
| After the filing | Stock |
|---|---|
| Reaction day | −9.3% |
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 |
|---|---|
| 8 September 2026 | +1.5% |
| 7 August 2024 | +0.0% |
| 24 May 2024 | −4.9% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Mahaveer Infoway's revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0.67 crore in Q2 FY26 (standalone).
Did Mahaveer Infoway make a profit in Q2 FY27?
No. It reported a net loss of ₹0.07 crore, against a net profit of ₹0.03 crore in Q2 FY26.
What was Mahaveer Infoway's EPS in Q2 FY27?
Basic loss per share was ₹0.13, against ₹0.00 in Q2 FY26.
How did Mahaveer Infoway shares react to the Q2 FY27 results?
On the reaction day the stock moved −9.3% from the previous close.
When did Mahaveer Infoway announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Tuesday 3Rd Day Of November, 2026 Under Regulation 29 (1) (A) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday, The 3Rd Day Of November, 2026 Under Regulation 30 Read With 33(3)(C) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 3 November 2026) · PDF
- Outcome Of Board Meeting Held On Tuesday, The 3Rd Day Of November, 2026 Under Regulation 30 Read With 33(3)(C) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 3 November 2026) · PDF
- Outcome Of Board Meeting Held On Tuesday, The 3Rd Day Of November, 2026 Under Regulation 30 Read With 33(3)(C) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 3 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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