Glottis Q2FY27 Net Profit Falls 98% to ₹24.74 Lakh as Revenue Rises 28.7%

Glottis Limited reported net profit of ₹24.74 lakh for the quarter ended September 30, 2026, down 98% from ₹1235.81 lakh a year earlier, even as revenue from operations rose 28.7% to ₹27647.57 lakh. ScanX published the standalone results on November 11, 2026.

Glottis Q2FY27 Profit and Margin Squeeze

Glottis Logistics is a Chennai-headquartered freight forwarding company offering air, ocean, land, multimodal, customs brokerage and 3PL warehousing services to more than 2,000 enterprise clients across 20+ industry verticals in India and internationally.

The cost of services rendered climbed to ₹25956.53 lakh from ₹18554.89 lakh. Glottis attributed the profit decline to continued margin pressures from global economic uncertainties and geopolitical conflicts, which brought volatility in bunker charges and freight rates that could not be fully passed on under pre-agreed contractual terms. Lower volumes of project cargo, bulk shipments and sea import shipments also weighed on gross profit contribution.

EBITDA margin contracted to 1.31% from 8.44%, and profit before tax fell 96.6% to ₹57.46 lakh from ₹1704.12 lakh. Finance costs rose to ₹212.09 lakh from ₹88.95 lakh. Basic earnings per share were ₹0.03, compared with ₹1.54.

Trade receivables stood at ₹22662.71 lakh as of September 30, 2026, against ₹16472.04 lakh a year earlier, a 37.6% increase that outpaced revenue growth. Cash flow from operations was negative at ₹4359.08 lakh for the half-year ended September 30, 2026.

The board approved borrowing up to ₹30 crore each from promoters and Managing Directors Kuttappan Manikandan and Ramkumar Senthilvel. The loans are unsecured and interest-free, intended for short-term and long-term working capital. Of the ₹15999.87 lakh fresh issue proceeds from the Initial Public Offer, ₹9009.54 lakh had been utilised as of September 30, 2026, with the remaining ₹6990.33 lakh held in temporary fixed deposits.

Glottis's India-Sri Lanka Logistics Memorandum

According to akta.pro company records, Glottis signed a strategic Memorandum of Understanding with Sri Lanka-based Shermans Logistics, a joint venture between Esna Group and McLarens Group, in May 2026. The collaboration covers project cargo, renewable energy, automotive, chemicals, 3PL and freight forwarding between India and Sri Lanka. The same records show the company was founded in 2004 and converted to a public limited company in May 2024.

Branch Opening and Malaysian Subsidiary

Glottis opened a branch office in Begumpet, Hyderabad, effective November 5, 2026, to broaden operational reach and enhance regional customer service, ScanX reported. The company filed an intimation with the National Stock Exchange of India and BSE Limited under SEBI Regulation 30.

On September 7, 2026, Glottis incorporated a wholly owned subsidiary, Glottis Logistics SDN BHD, in Malaysia, focused on freight forwarding and logistics support, with initial capital of 1,000 shares at RM 1 each, ScanX reported.

For Q1FY27, Glottis reported a 39.5% year-on-year revenue increase to ₹2,345 million, driven by an 83.5% surge in Sea Export volumes and strong Air Freight growth, ScanX reported.

What Comes Next for Glottis

The remaining ₹6990.33 lakh of IPO proceeds is held in temporary fixed deposits pending utilisation towards stated objects including capital expenditure.