Tiger Logistics Q2 FY27 Performance Update

Revenue at Rs 225.14 Cr versus Rs 168.73 Cr YoY; PAT at Rs 5.85 Cr against Rs 8.62 Cr YoY.

Reader Takeaway: Strong revenue and air volume growth highlights contrast with year-on-year margin contraction; look for sequential recovery.

What just happened

Tiger Logistics (India) Ltd announced its financial results for the quarter ended September 30, 2026. The company achieved a 33.4% increase in revenue on a year-on-year basis. However, profitability metrics did not follow the same trajectory, with EBITDA falling 24.1% to Rs 9.99 Cr and PAT dropping 32.1% to Rs 5.85 Cr compared to the same period last year.

Why this matters

The results present a mixed picture for shareholders. While top-line growth remains robust, indicating strong demand and execution in logistics volumes, the bottom line is squeezed by margin pressures. A positive development is the sequential improvement: revenue grew 47.6% quarter-on-quarter, and both EBITDA and PAT margins saw a recovery compared to Q1 FY27, suggesting the company may be successfully stabilizing its operational efficiency.

Operational Highlights

Operational data shows a sharp shift in service mix. Air transport volumes jumped significantly to 3,53,811 kg in Q2 FY27 from 1,23,485 kg in Q2 FY26. TEU volumes remained largely stable at 23,381 units. Management attributes this performance to a focus on scaling verticals across automotive, renewable energy, and electronics.

Risks to watch

The primary risk remains the contraction in year-on-year profitability. Despite revenue expansion, the decline in PAT margins from 5.1% in Q2 FY26 to 2.6% in Q2 FY27 warrants attention. Sustaining the current sequential margin improvement will be critical to restoring year-on-year profitability growth in future quarters.

What to track next

Investors should monitor the company's ability to maintain its margin recovery trend and assess whether the increased air cargo volumes translate into higher margin contributions in the coming quarters.