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Tiger Logistics Q2 FY27 results: net profit down 32.1% to ₹5.85 crore, revenue up 33.4%
Tiger Logistics (India) Limited reported standalone Q2 FY27 revenue of ₹225.14 crore, up 33.4% from Q2 FY26 and 47.6% from Q1 FY27. Profit after tax was ₹5.85 crore and basic EPS was ₹0.57, with the quarterly margin recovering from Q1 FY27 but remaining below the year-ago quarter.
Key points
- Revenue was ₹225.14 crore in Q2 FY27, up 33.4% year-on-year and 47.6% sequentially.
- EBITDA was ₹6.88 crore, down 38.2% from Q2 FY26, while the EBITDA margin was 3.1% against 6.6%.
- PAT was ₹5.85 crore, down 32.1% from Q2 FY26, but up 169.6% from Q1 FY27.
- Basic EPS was ₹0.57, against ₹0.83 in Q2 FY26 and ₹0.23 in Q1 FY27.
- H1 FY27 revenue was ₹377.66 crore, up 39.2%, while PAT was ₹8.02 crore, down 39.8%.
How did Tiger Logistics perform in Q2 FY27?
Tiger Logistics reported standalone revenue of ₹225.14 crore for Q2 FY27, up 33.4% from ₹168.73 crore in Q2 FY26 and up 47.6% from ₹152.53 crore in Q1 FY27. Total income was ₹228.25 crore, up 33.7% from the year-ago quarter and 48.1% from the previous quarter. The company reported revenue growth in each of the last three quarters on a year-on-year basis.
EBITDA was ₹6.88 crore in Q2 FY27, against ₹11.14 crore in Q2 FY26 and ₹2.78 crore in Q1 FY27. The EBITDA margin was 3.1%, down 3.5 percentage points year-on-year but up 1.3 percentage points sequentially. PAT was ₹5.85 crore, against ₹8.62 crore a year earlier and ₹2.17 crore in the previous quarter; the PAT margin was 2.6%, down 2.5 percentage points year-on-year and up 1.2 percentage points sequentially.
PBT was ₹8.34 crore, down 30.4% from ₹11.98 crore in Q2 FY26 and up 187.6% from ₹2.90 crore in Q1 FY27. Basic EPS was ₹0.57, against ₹0.83 in Q2 FY26 and ₹0.23 in Q1 FY27. These are standalone results; the company operates in a single reportable segment.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 225.14 | 152.53 | 168.73 | +33.4% | +47.6% |
| Other income | 3.11 | 1.60 | 2.02 | +54.0% | +94.4% |
| Total expenses | 219.90 | 151.23 | 158.78 | +38.5% | +45.4% |
| EBITDA | 6.88 | 2.78 | 11.14 | −38.2% | +147.5% |
| EBITDA margin | 3.1% | 1.8% | 6.6% | −3.5 pp | +1.3 pp |
| Profit before tax | 8.34 | 2.90 | 11.98 | −30.4% | +187.6% |
| Tax | 2.49 | 0.73 | 3.36 | −25.9% | +241.1% |
| Net profit | 5.85 | 2.17 | 8.62 | −32.1% | +169.6% |
| EPS (₹) | 0.57 | 0.23 | 0.83 | −31.3% | +147.8% |
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 Tiger Logistics' costs and profit?
Total expenses rose to ₹219.90 crore in Q2 FY27 from ₹158.78 crore in Q2 FY26, an increase of ₹61.12 crore or 38.5%. The main movement was in cost of materials, which rose by ₹60.59 crore to ₹210.05 crore. Employee cost increased by ₹0.39 crore to ₹5.47 crore, finance costs by ₹0.45 crore to ₹1.40 crore, and depreciation by ₹0.01 crore to ₹0.24 crore. Other expenses declined by ₹0.32 crore to ₹2.73 crore.
Other income increased by ₹1.09 crore to ₹3.11 crore from ₹2.02 crore in Q2 FY26. There was no exceptional item. Tax expense fell by ₹0.87 crore to ₹2.49 crore from ₹3.36 crore. Against the year-ago quarter, PBT declined by ₹3.64 crore and PAT by ₹2.77 crore, while the EBITDA margin narrowed by 3.5 percentage points.
Against Q1 FY27, total expenses increased by ₹68.67 crore to ₹219.90 crore, while other income rose by ₹1.51 crore to ₹3.11 crore. Finance costs increased by ₹0.16 crore, employee cost fell by ₹0.22 crore, and other expenses increased by ₹0.32 crore. Tax expense increased by ₹1.76 crore to ₹2.49 crore. The filings do not state a specific reason for the cost movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 210.05 | 149.46 | +60.59 | +40.5% |
| Employee cost | 5.47 | 5.08 | +0.39 | +7.7% |
| Finance costs | 1.40 | 0.95 | +0.45 | +47.4% |
| Depreciation | 0.24 | 0.23 | +0.01 | +4.3% |
| Other expenses | 2.73 | 3.05 | −0.32 | −10.5% |
| Total expenses | 219.90 | 158.78 | +61.12 | +38.5% |
| Other income | 3.11 | 2.02 | +1.09 | +54.0% |
| Tax | 2.49 | 3.36 | −0.87 | −25.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹377.66 crore, up 39.2% from ₹271.25 crore in H1 FY26. Total income was ₹382.37 crore, also up 39.2% from ₹274.74 crore. The company reported revenue growth of 39.2% for the half-year.
H1 FY27 PBT was ₹11.24 crore, down 38.5% from ₹18.27 crore in H1 FY26, while PAT was ₹8.02 crore, down 39.8% from ₹13.33 crore. Basic EPS was ₹0.79, down from ₹1.30. Management’s investor presentation reported H1 FY27 PAT of ₹802 lakhs and H1 FY26 PAT of ₹1,332.6 lakhs, while the revised standalone filing reported ₹802.38 lakhs and ₹1,332.58 lakhs respectively.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 377.66 | 271.25 | +39.2% |
| Profit before tax | 11.24 | 18.27 | −38.5% |
| Net profit | 8.02 | 13.33 | −39.8% |
| EPS (₹) | 0.79 | 1.30 | −39.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹287.22 crore, compared with ₹262.62 crore at 31 March 2026. Total equity rose to ₹168.29 crore from ₹159.98 crore. Borrowings were ₹74.47 crore against ₹50.28 crore at the previous balance sheet date, while cash and cash equivalents were ₹5.55 crore against ₹1.26 crore. Trade receivables were ₹160.23 crore, compared with ₹161.03 crore, and trade payables were ₹29.58 crore against ₹36.40 crore.
H1 FY27 operating cash flow was negative ₹19.57 crore, compared with positive ₹0.34 crore in H1 FY26. Investing cash flow was negative ₹1.76 crore against negative ₹0.83 crore, financing cash flow was positive ₹21.37 crore against positive ₹13.22 crore, and capital expenditure was ₹0.13 crore against ₹0.33 crore. The investor presentation reported cash and bank balance of ₹45.1 crore at H1 FY27, compared with ₹41.5 crore in FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 287.22 | 262.62 |
| Total equity | 168.29 | 159.98 |
| Borrowings | 74.47 | 50.28 |
| Cash and equivalents | 5.55 | 1.26 |
| Inventories | 0 | 0 |
| Trade receivables | 160.23 | 161.03 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −19.57 | 0.34 |
| Cash from investing | −1.76 | −0.83 |
| Cash from financing | 21.37 | 13.22 |
| Capital expenditure | 0.13 | 0.33 |
Source: Company's results filing (XBRL).
How has Tiger Logistics done over the last 8 quarters?
Revenue reached ₹225.14 crore in Q2 FY27, the highest level in the eight-quarter series, after ₹152.53 crore in Q1 FY27 and ₹162.55 crore in Q4 FY26. The lowest quarterly revenue was ₹102.52 crore in Q1 FY26. Revenue has now risen for three consecutive quarters on a year-on-year basis, according to the supplied trend data.
PAT was ₹5.85 crore in Q2 FY27, above ₹2.17 crore in Q1 FY27 but below ₹8.62 crore in Q2 FY26. The highest quarterly PAT in the series was ₹8.62 crore in Q2 FY26 and the lowest was ₹2.17 crore in Q1 FY27. The EBITDA margin rose to 3.1% from 1.8% in Q1 FY27, while it was 6.6% in Q2 FY26.
What did Tiger Logistics' management say?
Management said the company was pursuing diversification across automotive, renewable energy, electronics and engineering goods of PSUs, while building a more diversified international logistics business. Chairman and Managing Director Harpreet Singh Malhotra said the focus was on strengthening industry presence, deepening customer relationships and expanding capabilities in high-potential segments.
Management said H1 FY27 revenue grew 39.2% year-on-year, alongside a 12.7% increase in TEU volumes and a 2.1x rise in air cargo volumes. It said the company would continue to invest in scaling core and emerging verticals, expanding its industry reach and delivering integrated logistics solutions, with operational efficiency and profitability also part of the focus.
The investor presentation identified diversification, an asset-light global logistics model, the TiGreen renewable-energy logistics vertical, FreightJar and CUBOX as strategic themes. It also highlighted margin compression, working-capital intensity, elevated trade receivables and customer concentration as risks. No formal financial guidance was provided, and the filing did not record any analyst questions.
How did Tiger Logistics shares react?
The stock moved lower after the filing appeared after market hours. From the pre-results close of ₹25.40, it was down 0.4% after five minutes, 1.4% after 15 minutes and 2.2% after 30 minutes. On the reaction day, it closed down 0.9%.
By the next day’s close, the stock was down 15.4% from its pre-results close, compared with a 4.2% decline for the Nifty Microcap 250. By the fifth session’s close, it was down 11.4% from the pre-results close, while the index was down 5.5%.
Earlier reaction-day moves were mixed: the stock fell 1.0% on 12 August 2026, 2.4% on 27 May 2026 and 1.7% on 13 February 2026, and rose 2.9% on 11 November 2025. These are historical reactions, not a forecast of future price movement.
| After the filing | Stock |
|---|---|
| 5 minutes | −0.4% |
| 15 minutes | −1.4% |
| 30 minutes | −2.2% |
| Reaction day | −0.9% |
| Next day | −15.4% |
| 5 days | −11.4% |
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 |
|---|---|
| 12 August 2026 | −1.0% |
| 27 May 2026 | −2.4% |
| 13 February 2026 | −1.7% |
| 11 November 2025 | +2.9% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Tiger Logistics' revenue in Q2 FY27?
Revenue from operations was ₹225.14 crore, up 33.4% from ₹168.73 crore in Q2 FY26 (standalone).
Did Tiger Logistics make a profit in Q2 FY27?
Yes. Net profit was ₹5.85 crore, against a net profit of ₹8.62 crore in Q2 FY26.
What was Tiger Logistics' EPS in Q2 FY27?
Basic earnings per share were ₹0.57, against ₹0.83 in Q2 FY26.
How did Tiger Logistics shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.9% from the previous close.
When did Tiger Logistics announce its Q2 FY27 results?
On 16 October 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Approval Of Financial Results For The Period Ended Sep, 2026 (BSE, 16 October 2026) · PDF
- Results - Financial Results For The Period Ended Sep,2026 (BSE, 16 October 2026) · PDF
- Revised Financial Results (BSE, 17 October 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (BSE, 19 October 2026) · PDF
- The investor presentation (19 October 2026)
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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