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The Investment Trust Of India Q2 FY27 results: net profit down 76.1% to ₹1.34 crore, revenue down 33.5%
The Investment Trust Of India Limited reported consolidated Q2 FY27 revenue of ₹52.61 crore, down 33.5% from Q2 FY26, while EBITDA fell to ₹2.73 crore and profit after tax declined to ₹1.34 crore. In the September 2026 quarter, profit before tax was a loss of ₹2.43 crore, compared with a profit of ₹8.84 crore in Q1 FY27.
Key points
- Consolidated Q2 FY27 revenue was ₹52.61 crore, down 33.5% from Q2 FY26 and down 11.4% from Q1 FY27.
- EBITDA was ₹2.73 crore, down 83.5% year on year, while the EBITDA margin fell to 5.2% from 20.9%.
- The company reported a net profit of ₹1.34 crore and basic EPS of ₹0.26, down 76.1% and 53.6% from Q2 FY26.
- Profit before tax was a loss of ₹2.43 crore in Q2 FY27, against a profit of ₹2.56 crore in Q2 FY26 and ₹8.84 crore in Q1 FY27.
- For H1 FY27, revenue was ₹111.97 crore, down 24.9% from H1 FY26, while profit after tax was ₹13.72 crore and EPS was ₹2.64.
How did The Investment Trust Of India perform in Q2 FY27?
The Investment Trust Of India reported consolidated revenue of ₹52.61 crore in Q2 FY27, down from ₹79.06 crore in Q2 FY26 and ₹59.36 crore in Q1 FY27. Total income was ₹54.20 crore, compared with ₹79.32 crore a year earlier and ₹65.28 crore in the previous quarter. The company also reported standalone revenue of ₹1.99 crore, down 42.7%, and standalone profit before tax of a loss of ₹1.29 crore.
Consolidated EBITDA fell to ₹2.73 crore from ₹16.54 crore in Q2 FY26, while the EBITDA margin declined to 5.2% from 20.9%. In Q1 FY27, EBITDA was ₹7.97 crore and the margin was 13.4%. Profit before tax was a loss of ₹2.43 crore, against a profit of ₹2.56 crore a year earlier and ₹8.84 crore in Q1 FY27; net profit was ₹1.34 crore and basic EPS was ₹0.26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 52.61 | 59.36 | 79.06 | −33.5% | −11.4% |
| Other income | 1.59 | 5.92 | 0.27 | +488.9% | −73.1% |
| Total expenses | 56.63 | 56.44 | 76.77 | −26.2% | +0.3% |
| EBITDA | 2.73 | 7.97 | 16.54 | −83.5% | −65.7% |
| EBITDA margin | 5.2% | 13.4% | 20.9% | −15.7 pp | −8.2 pp |
| Profit before tax | −2.43 | 8.84 | 2.56 | turned to loss | turned to loss |
| Tax | 0.60 | 2.42 | 2.42 | −75.2% | −75.2% |
| Net profit | 1.34 | 12.38 | 5.61 | −76.1% | −89.2% |
| EPS (₹) | 0.26 | 2.37 | 0.56 | −53.6% | −89.0% |
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 The Investment Trust Of India's costs and profit?
Total expenses fell to ₹56.63 crore in Q2 FY27 from ₹76.77 crore in Q2 FY26. Employee cost declined by ₹1.76 crore to ₹30.02 crore, finance costs fell by ₹7.63 crore to ₹3.68 crore, and other expenses decreased by ₹10.88 crore to ₹19.85 crore. Depreciation was ₹3.07 crore, up by ₹0.12 crore, and there was no exceptional item.
Other income rose by ₹1.32 crore to ₹1.59 crore from ₹0.27 crore in Q2 FY26. Tax expense fell by ₹1.82 crore to ₹0.60 crore from ₹2.42 crore. Against Q1 FY27, total expenses rose by ₹0.19 crore, employee cost increased by ₹1.89 crore, finance costs rose by ₹0.80 crore, depreciation increased by ₹0.90 crore, other expenses fell by ₹3.41 crore, other income fell by ₹4.33 crore, and tax fell by ₹1.82 crore. The filings did not state reasons for the changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 30.02 | 31.78 | −1.76 | −5.5% |
| Finance costs | 3.68 | 11.31 | −7.63 | −67.5% |
| Depreciation | 3.07 | 2.95 | +0.12 | +4.1% |
| Other expenses | 19.85 | 30.73 | −10.88 | −35.4% |
| Total expenses | 56.63 | 76.77 | −20.14 | −26.2% |
| Other income | 1.59 | 0.27 | +1.32 | +488.9% |
| Tax | 0.60 | 2.42 | −1.82 | −75.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹111.97 crore, down from ₹149.16 crore in H1 FY26, while total income was ₹119.48 crore against ₹156.59 crore. Profit before tax declined to ₹6.41 crore from ₹13.97 crore, and profit after tax was ₹13.72 crore compared with ₹15.82 crore.
H1 FY27 basic EPS was ₹2.64, up from ₹2.31 in H1 FY26. Revenue fell by 24.9% year on year, total income fell by 23.7%, profit before tax fell by 54.1%, and profit after tax fell by 13.3%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 111.97 | 149.16 | −24.9% |
| Profit before tax | 6.41 | 13.97 | −54.1% |
| Net profit | 13.72 | 15.82 | −13.3% |
| EPS (₹) | 2.64 | 2.31 | +14.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,074.23 crore against ₹998.10 crore at 31 March 2026, while total equity was ₹749.30 crore against ₹735.27 crore. Borrowings rose to ₹61.12 crore from ₹51.21 crore, and cash fell to ₹8.88 crore from ₹26.18 crore. Trade receivables were ₹97.25 crore against ₹171.77 crore, and trade payables were ₹151.47 crore against ₹163.04 crore.
H1 FY27 operating cash flow was ₹34.71 crore, compared with an outflow of ₹318.30 crore in H1 FY26. Investing cash flow was an outflow of ₹1.02 crore against an inflow of ₹2.09 crore, while financing cash flow was an outflow of ₹50.99 crore against an inflow of ₹149.98 crore. Capital expenditure was ₹0.60 crore, compared with ₹6.36 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,074 | 998.10 |
| Total equity | 749.30 | 735.27 |
| Borrowings | 61.12 | 51.21 |
| Cash and equivalents | 8.88 | 26.18 |
| Inventories | 0.09 | 0 |
| Trade receivables | 97.25 | 171.77 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 34.71 | −318.30 |
| Cash from investing | −1.02 | 2.09 |
| Cash from financing | −50.99 | 149.98 |
| Capital expenditure | 0.60 | 6.36 |
Source: Company's results filing (XBRL).
How has The Investment Trust Of India done over the last 8 quarters?
Revenue in the reported quarterly series peaked at ₹93.99 crore in Q4 FY25 and bottomed at ₹52.61 crore in Q2 FY27. Profit after tax was highest at ₹12.80 crore in Q3 FY26 and lowest at ₹1.34 crore in Q2 FY27. The EBITDA margin reached 32.0% in Q3 FY25 and fell to 5.2% in Q2 FY27, the lowest point in the series.
Which businesses drove the quarter?
Broking and related services generated revenue of ₹34.06 crore, down 11.2% from ₹38.34 crore, with EBIT of ₹6.32 crore against ₹6.21 crore. The segment reported an EBIT margin of 18.6%.
Investment and Advisory services reported revenue of ₹6.69 crore, down 2.5% from ₹6.86 crore, and EBIT of a loss of ₹0.42 crore against a loss of ₹0.22 crore. Its EBIT margin was -6.2%.
Financing activities reported revenue of ₹4.74 crore, down 85.3% from ₹32.34 crore, and EBIT of a loss of ₹0.58 crore against EBIT of ₹14.36 crore. The EBIT margin was -12.3%.
Asset management activities reported revenue of ₹13.37 crore, up 65.2% from ₹8.10 crore, and EBIT of a loss of ₹4.07 crore against a loss of ₹6.50 crore. The EBIT margin was -30.4%. Trading activities reported revenue of ₹0.00 crore and EBIT of ₹0.00 crore, unchanged from the year-ago quarter.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Broking and related services | 34.06 | −11.2% | 6.32 | 18.6% |
| Investment and Advisory services | 6.69 | −2.5% | −0.42 | -6.2% |
| Financing activities | 4.74 | −85.3% | −0.58 | -12.3% |
| Asset management activities | 13.37 | +65.2% | −4.07 | -30.4% |
| Trading activities | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, as recommended by the Audit Committee. It also approved the appointment of Rashesh Praful Shah as Manager, Key Managerial Personnel and Senior Management Personnel with effect from 4 November 2026, subject to shareholder approval. The filings did not announce a dividend or fund raise.
What did the auditors point out?
The limited review report stated that nothing had come to the auditor’s attention causing belief that the statement had not disclosed the required information under Regulation 33 or contained any material misstatement. The auditor said it did not express an audit opinion because the review was substantially less in scope than an audit.
The report included an emphasis of matter on the Scheme of Arrangement involving the company and its wholly owned subsidiaries, ITI Gilts, ITI Wealth Management Limited, ITI Alternate Funds Management Limited and Fortune Management Advisors Limited. The scheme envisages amalgamation into The Investment Trust Of India with an appointed date of 1 April 2026; the auditor said the effect would be given when all approvals were received and the scheme became effective, and that its conclusion was not modified in this respect.
How did The Investment Trust Of India shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock was up 1.5% after 5 minutes and 15 minutes, before moving down 0.4% after 30 minutes. On the reaction day, it fell 3.1% from the previous close of ₹89.78 to the close following the filing, compared with a 0.0% median move for the other Other Financial Services stocks.
Earlier reaction-day moves were mixed: the stock rose 3.2% on 13 August 2026 and 3.4% on 3 February 2026, but fell 13.0% on 13 May 2026, 6.4% on 5 November 2025 and 5.0% on 25 July 2025. Data for the next day and five days after the Q2 FY27 filing was not available.
| After the filing | Stock | Other Financial Services median |
|---|---|---|
| 5 minutes | +1.5% | |
| 15 minutes | +1.5% | |
| 30 minutes | −0.4% | |
| Reaction day | −3.1% | +0.0% |
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 |
|---|---|
| 13 August 2026 | +3.2% |
| 13 May 2026 | −13.0% |
| 3 February 2026 | +3.4% |
| 5 November 2025 | −6.4% |
| 25 July 2025 | −5.0% |
| 9 May 2025 | +0.4% |
| 13 February 2025 | −0.6% |
| 12 November 2024 | −2.5% |
Source: MarketPing price-reaction measurement.
How did other Other Financial Services companies do?
Twenty Other Financial Services companies were compared for revenue growth, with a median revenue decline of 6.3%. Eight peers grew more slowly than The Investment Trust Of India, while 12 grew faster. All 20 peers in the revenue-growth comparison reported higher profit.
| The Investment Trust Of India revenue growth (YoY) | −33.5% |
|---|---|
| Median of 20 other Other Financial Services companies | −6.3% |
| Companies with slower revenue growth than The Investment Trust Of India | 8 of 20 |
| Companies with faster revenue growth than The Investment Trust Of India | 12 of 20 |
| Companies whose net profit rose | 20 of 39 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was The Investment Trust Of India's revenue in Q2 FY27?
Revenue from operations was ₹52.61 crore, down 33.5% from ₹79.06 crore in Q2 FY26 (consolidated).
Did The Investment Trust Of India make a profit in Q2 FY27?
Yes. Net profit was ₹1.34 crore, against a net profit of ₹5.61 crore in Q2 FY26.
What was The Investment Trust Of India's EPS in Q2 FY27?
Basic earnings per share were ₹0.26, against ₹0.56 in Q2 FY26.
How did The Investment Trust Of India shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.1% from the previous close; the median Other Financial Services stock moved +0.0%.
When did The Investment Trust Of India announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 4 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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