Business · Companies · 17 hrs ago
Nine of 11 Major Indian Tech Firms Reported Q2 Profits
Nine of 11 large listed Indian tech companies made a net profit in the quarter before the 2026 festive season.
The companies span ecommerce, fintech and logistics, where businesses were trying to grow while managing costs.
Consumers were still shopping, but weaker online sales and caution over big purchases made the season challenging.
The nine profitable companies’ combined net profit rose by about ₹1,100–1,400 crore year on year, depending on how unusual costs in the comparison period are counted.
Their EBITDA, a measure of operating performance, grew faster than revenue, suggesting companies were getting more from their operations.
Logistics firms built capacity for the festive rush, with the full benefit of festive demand expected in Q3.
The results point to a market increasingly focused on whether companies can deliver earnings, not just promise growth.
Nine of 11 large Indian technology companies across ecommerce, fintech and logistics reported net profits in Q2 FY27.
The companies were defined as large if their market capitalisation exceeded ₹10,000 crore.
Their combined net profit rose by about ₹1,100–1,400 crore year on year, depending on how exceptional items were treated.
At all nine profitable companies, EBITDA grew faster than revenue, indicating improving operating leverage.
Swiggy and Meesho continued to report losses despite improving operating metrics.
- Who
- Eleven large Indian technology companies in ecommerce, fintech and logistics; nine reported net profits.
- What
- Nine companies reported Q2 FY27 profits, while their combined net profit rose by about ₹1,100–1,400 crore year on year.
- When
- Q2 FY27.
- Where
- India.
- Why
- The article links the results to higher volumes, seasonal demand and improving operating leverage; it does not give one reason for all companies’ profits.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Profitable firms
- 9 of 11
- Market-cap threshold
- More than ₹10,000 crore
- Combined net-profit increase
- About ₹1,100–1,400 crore year on year
- Loss-making companies
- Swiggy and Meesho
What people are saying
Over the next 12–18 months, we expect earnings delivery, rather than growth narratives, to be the main driver of returns in this space