The recent financial disclosures of prominent Indian companies for the second quarter of FY26 present a mixed picture of performance amidst varied market conditions. Tata Power reported a modest 0.7% year-on-year decrease in net profit, amounting to ₹919.4 crore. Along with a 1% dip in revenue at ₹15,544 crore, EBITDA also underwent an 11.8% reduction, leading to narrowed margins at 21.2%. In addition, Tata Power has proposed acquiring a 40% stake in a Special Purpose Vehicle (SPV) for ₹1,572 crore.
CONCOR experienced a positive trend, achieving a 3.6% year-on-year rise in net profit to ₹378.7 crore, with revenues increasing 2.9% to ₹2,354.5 crore. However, EBITDA slipped slightly to ₹576.2 crore, resulting in margins easing to 24.5%. The board announced an interim dividend of ₹2.60 per share for FY26.
Rail Vikas Nigam Ltd (RVNL) noted a significant 19.7% decline in net profit for the September quarter, reporting ₹230.3 crore despite a 5.5% rise in revenue to ₹5,123 crore. The company faced a substantial 20.3% drop in EBITDA totaling ₹216.9 crore, and margins contracted to 4.2% from 5.6% due to rising cost pressures.
Further challenges were evident at PI Industries, where Q2 revenue fell 15.7% year-on-year to ₹1,872.3 crore, resulting in a 19.4% dip in net profit to ₹409.3 crore. Yet, these results outperformed the initial forecasts, with EBITDA recorded at ₹541.3 crore, surpassing expectations of ₹464.2 crore.
Similarly, Godrej Industries saw a 15.8% decrease in net profit to ₹242.4 crore, even as revenue grew 4.7% to ₹5,032 crore. The company’s EBITDA plunged by 76.5% to ₹134.7 crore, reflecting narrowing margins at 2.7% due to heightened cost pressures and the impact of a robust prior year comparatives.
In contrast, PTC India reported an 11.8% decline in net profit to ₹191 crore, despite a revenue increase of 11.7% to ₹5,458 crore. EBITDA increased by 17.7% to ₹274.6 crore, with margins slightly improving to 5% thanks to a better efficiency and contract mix.
Gujarat Fluorochemicals was amongst the highlights with a remarkable 47.9% growth in net profit to ₹179 crore, driven primarily by a strong surge in its chemical segment. The company reported a 1.9% increase in revenue to ₹1,210 crore and a 23.4% rise in EBITDA to ₹364 crore, resulting in improved margins of 30% from 24.8%.
Torrent Power also exhibited substantial growth, with net profit surging 50.5% year-on-year to ₹723.7 crore, propelled by robust sales in merchant power and LNG. Revenue climbed 9.8% to ₹7,876 crore, while EBITDA increased by 24.8% to ₹1,506 crore, enhancing margins to 19.1%.
Moreover, EIH, the parent company of the Oberoi Group, reported a 12.4% decrease in Q2 net profit to ₹113.7 crore, with revenue growing 1.5% to ₹597.9 crore. EBITDA receded by 11.8% to ₹154.2 crore, leading to marginal contraction in margins to 25.8% due to ongoing cost pressures.
Lastly, Pearl Global Industries registered a notable 25.5% increase in net profit to ₹73.3 crore, bolstered by significant growth in its operations in Vietnam and Indonesia. The company declared an interim dividend of ₹6 and unveiled a ₹250 crore capital expenditure plan aimed at expanding and enhancing sustainability efforts.