Coworking space provider IndiQube slashed its Q2 FY27 net loss by 80% to ₹5.9 Cr in from ₹29.9 Cr loss incurred in the year-ago quarter. Sequentially, its loss reduced 75% from ₹23.9 Cr in Q1 FY27.
Operating revenue grew 34.9% YoY to ₹471.9 Cr from ₹350.1 Cr in the year-ago quarter. On a sequential basis, revenue increased 11.6% from ₹422.6 Cr.
Other income stood at ₹20.3 Cr, taking total income to ₹492.1 Cr. The company benefitted from a deferred tax credit of ₹6.4 Cr while spending ₹4.9 Cr on current tax expenses.
Total expenses increased 23.5% YoY to ₹499.5 Cr in Q2 FY27 from ₹405.3 Cr in Q2 FY26, but grew just 4.4% QoQ.
On an IGAAP-equivalent basis, IndiQube said its quarterly net profit grew 63% YoY to ₹57 Cr, while its top line grew 34% to ₹475 Cr, its highest ever quarterly revenue. The variance between IGAAP and Ind-AS reporting arose from non-cash accounting adjustments, the company claimed.
The company’s EBITDA for the quarter grew 42.8% to ₹297 Cr on an Ind-AS basis. In IGAAP terms, its EBITDA grew 40% to ₹105 Cr.
“We remain focused on growing with financial discipline, strengthening margins and maintaining the right balance between scale, profitability and capital efficiency,” said cofounder and CEO Rishi Das.
In operational terms, IndiQube expanded to a total of 2.41 Lakh seats as of the end of the September quarter. The company manages 138 centres across 17 cities. Its overall occupancy marginally decreased to 86% in the quarter under review as compared to 87% in the year-ago period.
Currently, it manages 8.2 Mn sq ft of operational office space with a further 2.7 Mn sq ft secured under letters of intent.
Out of 884 clients, large customers drove a significant share of IndiQube’s revenue. GCCs contributed 54% of the revenue, and customers occupying multiple centres contributed 41%.
Besides its core workspace solutions, value-added services like interior solutions, managed services, and green transformation solutions grew to contribute 17% of its revenue across the first half of the fiscal year.
Shares of IndiQube ended today’s trading session 3.89% higher at ₹180.30 apiece on the BSE.
The post IndiQube Cuts Q2 Net Loss By 80% YoY To ₹6 Cr, Revenue Up 35% appeared first on Inc42 Media.
Coworking space provider IndiQube slashed its Q2 FY27 net loss by 80% to ₹5.9 Cr in from ₹29.9 Cr loss incurred in the year-ago quarter. Sequentially, its loss reduced 75% from ₹23.9 Cr in Q1 FY27.
Operating revenue grew 34.9% YoY to ₹471.9 Cr from ₹350.1 Cr in the year-ago quarter. On a sequential basis, revenue increased 11.6% from ₹422.6 Cr.
Other income stood at ₹20.3 Cr, taking total income to ₹492.1 Cr. The company benefitted from a deferred tax credit of ₹6.4 Cr while spending ₹4.9 Cr on current tax expenses.
Total expenses increased 23.5% YoY to ₹499.5 Cr in Q2 FY27 from ₹405.3 Cr in Q2 FY26, but grew just 4.4% QoQ.
On an IGAAP-equivalent basis, IndiQube said its quarterly net profit grew 63% YoY to ₹57 Cr, while its top line grew 34% to ₹475 Cr, its highest ever quarterly revenue. The variance between IGAAP and Ind-AS reporting arose from non-cash accounting adjustments, the company claimed.
The company’s EBITDA for the quarter grew 42.8% to ₹297 Cr on an Ind-AS basis. In IGAAP terms, its EBITDA grew 40% to ₹105 Cr.
“We remain focused on growing with financial discipline, strengthening margins and maintaining the right balance between scale, profitability and capital efficiency,” said cofounder and CEO Rishi Das.
In operational terms, IndiQube expanded to a total of 2.41 Lakh seats as of the end of the September quarter. The company manages 138 centres across 17 cities. Its overall occupancy marginally decreased to 86% in the quarter under review as compared to 87% in the year-ago period.
Currently, it manages 8.2 Mn sq ft of operational office space with a further 2.7 Mn sq ft secured under letters of intent.
Out of 884 clients, large customers drove a significant share of IndiQube’s revenue. GCCs contributed 54% of the revenue, and customers occupying multiple centres contributed 41%.
Besides its core workspace solutions, value-added services like interior solutions, managed services, and green transformation solutions grew to contribute 17% of its revenue across the first half of the fiscal year.
Shares of IndiQube ended today’s trading session 3.89% higher at ₹180.30 apiece on the BSE.
The post IndiQube Cuts Q2 Net Loss By 80% YoY To ₹6 Cr, Revenue Up 35% appeared first on Inc42 Media.
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