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HomeMarket NewsGlottis Share Price: Recent listing, down 43% from issue price, reacts to Q2 results
For the quarter, Glottis posted revenue from operations of ₹214.7 crore, which was down 25% year-on-year. The topline decline was driven by softer demand and price normalisation across the freight industry.
By Meghna Sen November 17, 2025, 6:58:20 AM IST (Published)
Shares of Glottis Ltd., a logistics and freight-forwarding company, will be in focus on Monday, November 17, after the company reported its September-quarter earnings over the weekend.
The company posted Q2 FY26 revenue from operations of ₹214.7 crore, down 25.2% year-on-year from ₹287 crore in the base quarter. The topline decline was driven by softer demand and price normalisation across the freight industry.
However, revenue improved sharply on a sequential basis, rising 27.7% over Q1 FY26, aided by better realisations across key routes. Sea import continued to be the company's mainstay, contributing nearly 81% of quarterly revenue and remaining the cornerstone of operations.
Net profit for the quarter fell 39.9% to ₹12.4 crore, compared to ₹20.6 crore a year ago.
Q2 FY26 EBITDA came in at ₹18.1 crore, with a margin of 8.4%.
Glottis said the air segment delivered an encouraging performance, supported by broad-based growth in both imports and exports.
Air import revenue grew 17.3% YoY, with its share of total revenue rising to 2.11% in Q2 FY26 from 1.34% in the same quarter last year. Air export also picked up momentum, with revenue more than doubling YoY and its contribution increasing to 0.66% from 0.22% a year earlier.
"The performance in the first half of FY26 shows the company's ability to sustain growth while adapting to shifts in the global logistics cycle. The focus going ahead remains on expanding service capabilities across both sea and air segments, deepening customer relationships, and leveraging our presence across high-growth end-industries and trade lanes. With continued strengthening of internal processes and customer reach, the company is well-positioned to drive scale and efficiency in the coming quarters," said Ramkumar Senthilvel, Managing Director of Glottis.
Glottis Ltd. had listed at a discount to its IPO price of ₹129 per share and ended its trading debut 35% lower. The IPO was subscribed 2.05 times, with the retail portion subscribed 1.42 times.
Shares of Glottis Ltd. ended Friday's session 0.081% higher at ₹73.75. The stock remains 43% below its issue price.
