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Nifty India Internet Results: Latest Quarterly Results & Analysis

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RattanIndia Enterprises Ltd. 29 May 2026 16:43 PM

Q4FY26 & FY26 Result Announced for RattanIndia Enterprises Ltd.

Power - Electric Utilities company RattanIndia Enterprises announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations: For Q4FY26, revenue stood at Rs 16,966.27 million, representing a YoY growth of 12.76% from Rs 15,045.61 million in Q4FY25, but a decline of 15.44% QoQ from Rs 20,064.43 million in Q3FY26.
  • Total Income: Total income for Q4FY26 was Rs 16,975.57 million compared to Rs 20,073.74 million in Q3FY26 and Rs 15,098.64 million in Q4FY25.
  • Net Profit / (Loss): The company reported a net loss for the period of Rs 1,101.00 million in Q4FY26, which is a narrowing of loss compared to Rs 1,620.10 million in Q3FY26 and Rs 3,585.07 million in Q4FY25.
  • Annual Performance: For the full year FY26, consolidated revenue from operations grew by 9.67% to Rs 75,305.14 million from Rs 68,663.46 million in FY25. The company recorded a consolidated net loss of Rs 1,663.47 million for FY26 compared to a profit of Rs 807.15 million in FY25.

Standalone Financial Highlights:

  • Revenue from Operations: Revenue for Q4FY26 was Rs 42.34 million, a decline of 13.66% YoY from Rs 49.04 million and a decrease of 6.99% QoQ from Rs 45.52 million in Q3FY26.
  • Total Income: Standalone total income for Q4FY26 stood at Rs 42.90 million versus Rs 94.47 million in Q4FY25.
  • Net Profit / (Loss): The standalone net loss for Q4FY26 was Rs 1,247.57 million compared to a loss of Rs 1,704.23 million in Q3FY26 and a loss of Rs 3,529.18 million in Q4FY25.
  • Annual Performance: Standalone revenue from operations for FY26 was Rs 180.60 million compared to Rs 1,860.18 million in FY25. The company reported an annual standalone net loss of Rs 1,819.84 million for FY26 against a profit of Rs 1,072.62 million in FY25.

Business Highlights:

  • Segment Performance (Consolidated FY26 Revenue):
    • Retail- E-commerce business: Rs 73,684.02 million.
    • EV (E-Motorcycles): Rs 1,359.77 million.
    • Others: Rs 442.14 million.
  • Strategic Reclassification: Effective March 25, 2026, the company’s investment in RattanIndia Power Limited ("RPL") was reclassified as an associate following the acquisition of significant influence.
  • International Expansion: The company incorporated a new step-down wholly owned subsidiary, Neorise Global Trading L.L.C-S.O.C, in Dubai to pursue e-commerce activities in the Middle East. It has entered into an agreement with 'Noon' for multi-category business expansion.
  • Capital Investment: The company subscribed to additional equity capital in its subsidiary, Neobrands Limited, totaling Rs 3,500 million.

Result PDF

Internet Software & Services company AvenuesAI announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Gross Revenue: Gross revenue for FY26 surged 103% YoY to Rs 81,158.5 million compared to Rs 39,925.8 million in FY25. For Q4FY26, revenue reached Rs 24,895.4 million, showing a YoY growth of 114.52% and a QoQ growth of 4.55% from Rs 23,811.9 million.
  • Payments TPV (Total Payment Volume): TPV for FY26 reached 5,038 billion, representing a 55% YoY increase from 3,240 billion. Q4FY26 TPV stood at 1,655 billion, marking a 101% YoY growth.
  • Adjusted EBITDA: Adjusted EBITDA for FY26 grew by 24% YoY to Rs 3,873 million. For Q4FY26, it reached Rs 994 million, representing a YoY growth of 28% and a QoQ increase of 10.32% from Rs 901.1 million.
  • Adjusted Profit After Tax (PAT): Adjusted PAT for FY26 increased by 58% YoY to Rs 3,320 million. Q4FY26 Adj. PAT was Rs 955 million, a significant YoY growth of 90% and a QoQ growth of 7.42% from Rs 889.1 million.
  • Net Profit (Attributable to Owners): Consolidated net profit for FY26 was Rs 2,790.4 million, up 23.78% from Rs 2,254.4 million in FY25. For Q4FY26, net profit was Rs 793.8 million, up 61.67% YoY and 10.43% QoQ from Rs 718.8 million.

Standalone Financial Highlights:

  • Revenue from Operations: Revenue for Q4FY26 stood at Rs 23,390.9 million, representing a YoY growth of 123.37% from Rs 10,471.7 million and a QoQ growth of 4.06% from Rs 22,478.6 million. For the full year FY26, revenue increased by 113.87% to Rs 75,846.8 million compared to Rs 35,463.5 million in FY25.
  • Total Income: Total income for Q4FY26 was Rs 23,534.6 million, an increase of 122.46% YoY and 4.24% QoQ. For the full year FY26, total income stood at Rs 76,271.9 million compared to Rs 35,924.5 million in FY25.
  • Profit Before Tax (Continuing Operations): PBT for Q4FY26 reached Rs 332.0 million, up 7.93% YoY but a 4.05% decrease QoQ from Rs 345.5 million. FY26 PBT grew by 8.79% to Rs 1,243.1 million.
  • Net Profit: For the full year FY26, net profit was Rs 1,534.7 million. For Q4FY26, the company reported a net profit of Rs 265.2 million, showing a QoQ growth of 7.94% from Rs 245.7 million.
  • Earnings Per Share (EPS): Basic and diluted EPS for the full year FY26 was Rs 0.49. For Q4FY26, basic and diluted EPS stood at Rs 0.08.

Business Highlights:

  • Segment Wise Performance (FY26):
    • Payment Business: Recorded a revenue of Rs 78,883.9 million compared to Rs 37,866.4 million in FY25. Segment results (profit) grew to Rs 2,029.7 million from Rs 1,446.2 million.
    • E-commerce Platform Business: Revenue stood at Rs 2,274.6 million compared to Rs 2,059.4 million in FY25. Segment profit increased to Rs 1,241.0 million from Rs 1,065.1 million.
  • Corporate Rebranding: The company successfully completed its rebranding from Infibeam Avenues Limited to AvenuesAI Limited, aligning with its evolution into an AI-native transaction infrastructure platform.
  • Strategic Investments and Acquisitions:
    • Online PSB Loans Limited (OPL): Approved the acquisition of a stake not exceeding 7.00% in OPL, a digital credit infrastructure company, for a total consideration not exceeding Rs 65.00 crore.
    • Ratnaafin Capital Private Limited: Approved an investment of not exceeding 2.50% stake in Ratnaafin (NBFC) for an amount not exceeding Rs 66.00 crore to strengthen lending distribution and credit intelligence.
    • Nueromind Technologies Private Limited: Approved the acquisition of the remaining 9.90% stake in the subsidiary to make it a wholly owned subsidiary for a cost not exceeding Rs 1.25 crore.
  • Capital Raising: Successfully concluded a Rs 700 crore Rights Issue, which was oversubscribed 1.4x.
  • Regulatory Approvals: Received in-principle authorization from the RBI for Prepaid Payment Instruments (PPI) and secured the RBI’s Offline Payment Aggregator License. Additionally, received GIFT-IFSC approval to operate as a Payment Service Provider.
  • Confidential IPO Filing: Subsidiary Rediff.com India Limited filed a Pre-Filed Draft Red Herring Prospectus with SEBI for its proposed Initial Public Offering (IPO).
  • Product Launches: Phronetic.AI (subsidiary) launched PayCentral.ai, India's first agentic payment platform. The company also launched CCAvenue CommerceAI powered by proprietary Model Context Protocol (MCP).

Vishal Mehta, Chairman & Managing Director, AvenuesAI: “This landmark year validates our evolution. FY26 was not simply about financial growth. It was about the convergence of multiple strategic building blocks that we have been assembling over the last several years: payments infrastructure, merchant ecosystems, consumer platforms, AI capabilities, regulatory infrastructure and international expansion. What we are building today is fundamentally different from a traditional payment gateway business. AvenuesAI is evolving into an AI-first financial infrastructure and transaction intelligence platform. Historically, fintech businesses were largely valued on transaction processing scale. We believe the next decade of value creation will increasingly come from ownership of transaction intelligence, merchant workflows, AI-led automation, embedded finance and intelligent financial ecosystems sitting on top of transaction infrastructure.”

Vishwas Patel, Managing Director & CEO, AvenuesAI: “We see payments evolving from being a transaction utility into a much larger merchant operating ecosystem powered by AI. Today, merchants are not only looking for payment acceptance. They are looking for customer acquisition, engagement, financing, automation, analytics and intelligent business tools integrated into a single digital ecosystem. This is where we believe the future opportunity lies and Artificial Intelligence will play a foundational role in this transformation.”

Result PDF

Travel Support Services company TBO Tek announced Q4FY26 & FY26 results

Q4FY26 Standalone Financial Highlights:

  • Total Income for Q4FY26 stood at Rs 172.57 crore, an increase of 8.30% QoQ (compared to Rs 159.35 crore in Q3FY26) and a 9.61% increase YoY (compared to Rs 157.44 crore in Q4FY25).
  • Profit for the period stood at Rs 18.99 crore, an increase of 64.56% QoQ (compared to Rs 11.54 crore in Q3FY26) and a 120.81% increase YoY (compared to Rs 8.60 crore in Q4FY25).

FY26 Standalone Financial Highlights:

  • Total Income for FY26 stood at Rs 644.63 crore, an increase of 4.25% YoY from Rs 618.37 crore in FY25.
  • Profit for FY26 stood at Rs 56.48 crore, a decrease of 0.60% YoY from Rs 56.82 crore in FY25.

Q4FY26 Consolidated Financial Highlights:

  • Total Income for Q4FY26 stood at Rs 827.15 crore, an increase of 3.82% QoQ (compared to Rs 796.68 crore in Q3FY26) and a 78.83% increase YoY (compared to Rs 462.54 crore in Q4FY25).
  • Profit for the period stood at Rs 60.10 crore, an increase of 11.94% QoQ (compared to Rs 53.69 crore in Q3FY26) and a 2.02% increase YoY (compared to Rs 58.91 crore in Q4FY25).

FY26 Consolidated Financial Highlights:

  • Total Income for FY26 stood at Rs 2,728.71 crore, an increase of 51.65% YoY from Rs 1,799.31 crore in FY25.
  • Profit for FY26 stood at Rs 244.31 crore, an increase of 6.27% YoY from Rs 229.89 crore in FY25.

Business Highlights:

Segment-wise Performance (FY26):

  • Air Ticketing: Generated revenue of Rs 324.50 crore with segment results of Rs 169.14 crore.
  • Hotels and Packages: Generated revenue of Rs 2,239.24 crore with segment results of Rs 1,400.27 crore.
  • Others: Generated revenue of Rs 113.74 crore with segment results of Rs 104.56 crore.

Ankush Nijhawan, Co-founder & Joint MD, TBO Tek, said: " FY26 acted as a real world stress test for the resilience of our business model. Despite multiple significant geopolitical disruptions across important travel corridors, the platform continued demonstrating resilience across both growth and profitability. The India business demonstrated a strong trend reversal with a return to solid trajectory with 12% YoY growth in H2”

Gaurav Bhatnagar, Co-founder & Joint MD, TBO Tek, said: “FY26 was marked by a significant investment cycle across commercial expansion, servicing capabilities, and organizational scale. As these investments matured through the year, the growth trajectory of SG&A expenses began moderating while the underlying growth engines of the platform continued strengthening. The operating performance during January and February clearly demonstrated the scalability characteristics of the platform, with Gross Profit growth meaningfully outpacing cost growth"

Result PDF

Education company Physicswallah announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income: For Q4FY26, total income stood at Rs 983.58 crore, representing a growth of 47.51% YoY from Rs 666.80 crore in Q4FY25, but a decrease of 14.24% QoQ from Rs 1,146.93 crore in Q3FY26. For the full year FY26, total income was Rs 4,131.04 crore, up 35.93% YoY from Rs 3,039.09 crore in FY25.
  • Revenue from Operations: Revenue in Q4FY26 reached Rs 918.80 crore, an increase of 50.72% YoY compared to Rs 609.60 crore in Q4FY25. On a QoQ basis, revenue declined by 15.12% from Rs 1,082.42 crore in Q3FY26. For FY26, annual revenue was Rs 3,899.54 crore, growing 35.09% YoY over Rs 2,886.64 crore in FY25.
  • Net Profit/Loss: The company reported a consolidated net loss of Rs 69.14 crore in Q4FY26, a significant YoY improvement from a loss of Rs 289.27 crore in Q4FY25. For the full year FY26, the net loss narrowed substantially to Rs 24.17 crore from a loss of Rs 243.26 crore in FY25.
  • Total Comprehensive Income: Total comprehensive loss for FY26 was Rs 20.91 crore, compared to a loss of Rs 240.33 crore in FY25.

Standalone Financial Highlights:

  • Total Income: Standalone total income for Q4FY26 was Rs 803.50 crore, up 53.25% YoY from Rs 524.32 crore in Q4FY25, and down 18.70% QoQ from Rs 988.29 crore in Q3FY26. For the full year FY26, total income reached Rs 3,495.89 crore, an increase of 40.08% YoY from Rs 2,495.61 crore in FY25.
  • Revenue from Operations: Revenue for Q4FY26 was Rs 735.94 crore, reflecting a growth of 58.49% YoY against Rs 464.35 crore in Q4FY25. On a QoQ basis, it fell by 19.89% from Rs 918.69 crore in Q3FY26. Full-year revenue for FY26 stood at Rs 3,244.56 crore, up 39.01% YoY from Rs 2,333.98 crore in FY25.
  • Net Profit/Loss: Standalone net loss for FY26 narrowed to Rs 39.92 crore from Rs 135.63 crore in FY25. For Q4FY26, the net loss was Rs 131.76 crore, compared to a loss of Rs 314.18 crore in Q4FY25.

Business Highlights:

  • Listing and IPO: The company completed its Initial Public Offer (IPO) and listed its equity shares on November 18, 2025. It raised Rs 2,961.79 crore through a fresh issue, of which Rs 2,273.98 crore remained unutilized as of March 31, 2026.
  • Single Reportable Segment: The company operates primarily in the education business, providing online and offline coaching services and sale of study materials. This is viewed as a single reportable segment ("coaching services") by the Chief Operating Decision Makers.
  • Strategic Acquisitions:
    • Acquired control of Guiding Light Education Technologies Private Limited ("Sarthi") by acquiring a 40% stake for Rs 95 crore in September 2025.
    • Acquired 100% shares and control in Nextseed Foundation in March 2026 for Rs 0.01 crore.
    • Held a 41% stake in Kay Lifestyle and Wellness Private Limited as of March 31, 2026.
  • Expansion and Investments: The company invested Rs 414.6 crore into Penpencil Edu Services Private Limited to support the expansion of business, including technology implementation and school management services.
  • Exceptional Items: Consolidated exceptional items for FY26 totaled Rs 52.57 crore. This includes Rs 29.01 crore for the impairment of goodwill, Rs 8.29 crore for IPO-related expenses, and Rs 15.27 crore for the incremental impact of the new Labour Codes on employee benefit obligations.
  • Bonus Issue: The company approved a bonus issue in the ratio of 1:35 (thirty-five bonus shares for every one share held) on March 07, 2025.

Result PDF

Travel Support Services company Indian Railway Catering & Tourism Corporation announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations: In Q4FY26, the consolidated revenue from operations stood at Rs 1,45,971.95 lakh, registering a slight growth of 0.71% QoQ compared to Rs 1,44,947.25 lakh in Q3FY26, and an increase of 15.07% YoY against Rs 1,26,852.99 lakh in Q4FY25. For the full year FY26, revenue from operations was Rs 5,21,486.31 lakh, up by 11.55% YoY from Rs 4,67,477.10 lakh in FY25.
  • Total Income: The total income for Q4FY26 was Rs 1,52,623.68 lakh, growing by 0.46% QoQ (from Rs 1,51,922.90 lakh in Q3FY26) and 14.78% YoY (from Rs 1,32,968.71 lakh in Q4FY25). For FY26, total income stood at Rs 5,47,516.05 lakh, an increase of 11.65% YoY from Rs 4,90,385.83 lakh in FY25.
  • Profit Before Tax (PBT): PBT in Q4FY26 stood at Rs 44,666.93 lakh, marking a decline of 15.60% QoQ (vs Rs 52,920.32 lakh in Q3FY26) and a decrease of 5.43% YoY (vs Rs 47,230.62 lakh in Q4FY25). Annual PBT for FY26 was reported at Rs 1,87,521.73 lakh, increasing by 6.71% YoY compared to Rs 1,75,731.15 lakh in FY25.
  • Profit After Tax (PAT): The PAT for Q4FY26 was Rs 32,639.63 lakh, showing a decline of 17.23% QoQ (from Rs 39,433.07 lakh in Q3FY26) and a decrease of 8.89% YoY (from Rs 35,822.91 lakh in Q4FY25). For FY26, PAT was Rs 1,39,345.47 lakh, representing a 5.97% YoY increase against Rs 1,31,492.74 lakh in FY25.

Standalone Financial Highlights:

  • Revenue from Operations: Standalone revenue from operations in Q4FY26 was Rs 1,45,971.95 lakh, recording a QoQ increase of 0.71% from Rs 1,44,947.25 lakh in Q3FY26 and a YoY increase of 15.07% from Rs 1,26,852.99 lakh in Q4FY25. For FY26, revenue reached Rs 5,21,486.31 lakh, a YoY growth of 11.55% compared to Rs 4,67,477.10 lakh in FY25.
  • Total Income: Q4FY26 total income stood at Rs 1,52,644.85 lakh, up 0.46% QoQ (vs Rs 1,51,938.39 lakh in Q3FY26) and 14.79% YoY (vs Rs 1,32,974.21 lakh in Q4FY25). Annual total income for FY26 was Rs 5,47,496.79 lakh, an increase of 11.66% YoY from Rs 4,90,345.17 lakh in FY25.
  • Profit Before Tax (PBT): Standalone PBT for Q4FY26 was Rs 44,690.43 lakh, declining by 15.58% QoQ (from Rs 52,939.15 lakh in Q3FY26) and 5.30% YoY (from Rs 47,192.94 lakh in Q4FY25). Annual PBT for FY26 stood at Rs 1,87,508.02 lakh, growing 6.72% YoY from Rs 1,75,695.24 lakh in FY25.
  • Profit After Tax (PAT): PAT for Q4FY26 was Rs 32,657.21 lakh, recording a decline of 17.22% QoQ (from Rs 39,448.63 lakh in Q3FY26) and 8.77% YoY (from Rs 35,794.71 lakh in Q4FY25). For FY26, PAT stood at Rs 1,39,336.68 lakh, up 5.99% YoY compared to Rs 1,31,465.61 lakh in FY25.

Business Highlights & Segment-wise Performance:

  • Dividends: The Board of Directors recommended a final dividend of Rs 0.50 per equity share of face value of Rs 2 each (25% of the paid-up share capital) for the financial year FY26. This is in addition to the 1st interim dividend of Rs 5 and 2nd interim dividend of Rs 3.50 paid in December 2025 and March 2026 respectively.
  • Exceptional Items: For FY26, the company recorded an exceptional income of Rs 1,678.65 lakh. This includes Rs 580.49 lakh on account of reduction in fixed, variable, and custody charges for two Tejas express trains, and Rs 1,098.16 lakh from excess provisions written back for previous years.
  • Segment-wise Performance:
    • Catering: Q4FY26 revenue stood at Rs 67,087.62 lakh (up 1.43% QoQ from Rs 66,143.40 lakh, and up 26.72% YoY from Rs 52,939.67 lakh). FY26 revenue was Rs 2,39,875.37 lakh.
    • Rail Neer: Q4FY26 revenue stood at Rs 10,020.08 lakh (down 2.48% QoQ from Rs 10,275.41 lakh, and up 4.38% YoY from Rs 9,599.65 lakh). FY26 revenue was Rs 40,750.93 lakh.
    • Internet Ticketing: Q4FY26 revenue stood at Rs 39,024.73 lakh (down 2.59% QoQ from Rs 40,063.23 lakh, and up 4.77% YoY from Rs 37,247.11 lakh). FY26 revenue was Rs 1,53,551.25 lakh.
    • Tourism: Q4FY26 revenue stood at Rs 30,358.19 lakh (up 4.95% QoQ from Rs 28,926.84 lakh, and up 10.63% YoY from Rs 27,441.50 lakh). FY26 revenue was Rs 89,007.58 lakh.
  • Arbitration Updates: The Hon’ble Supreme Court passed a final judgment on 07.11.2025 in favour of IRCTC regarding a Rs 7,471.65 lakh compensation claim from licensees over meal differences and welcome drinks. There is no financial or operational impact on the company arising from this matter.
  • Tax Disputes: An ongoing dispute regarding a Rs 5,041.44 lakh profiteering notice from the National Anti-Profiteering Authority (NAA) concerning the Rail Neer brand is now taken up by the Goods & Services Tax Appellate Tribunal (GSTAT), with the next hearing scheduled for July 15, 2026.

Result PDF

Internet & Catalogue Retail company Brainbees Solutions announced Q4FY26 & FY26 results

Q4FY26 Consolidated Financial Highlights:

  • Revenue from operations stood at Rs 21,626.68 million, representing a decrease of 10.77% on a QoQ basis compared to Rs 24,236.31 million in Q3FY26 and an increase of 12.04% on a YoY basis compared to Rs 19,303.15 million in Q4FY25.
  • Total Income reached Rs 22,034.84 million, showing a decline of 11.17% from Rs 24,804.68 million in Q3FY26 and a growth of 11.36% from Rs 19,787.83 million in the corresponding quarter of the previous year.
  • Loss for the period was Rs 482.07 million, reflecting an increased loss of 25.53% on a QoQ basis compared to Rs 384.04 million in Q3FY26. However, on a YoY basis, the loss narrowed by 56.78% from Rs 1,115.29 million in Q4FY25.
  • Total comprehensive loss for the quarter was Rs 494.73 million, compared to Rs 1,097.35 million in Q4FY25.
  • Basic and Diluted Earnings Per Share (EPS) for the quarter was Rs (0.63).

FY26 Consolidated Financial Highlights:

  • Revenue from operations for FY26 grew by 11.60% to Rs 85,479.44 million compared to Rs 76,596.14 million in FY25.
  • Total Income for FY26 was Rs 87,322.53 million, up from Rs 78,100.91 million in the previous year.
  • The annual loss narrowed by 23.09% to Rs 2,036.58 million in FY26 from Rs 2,648.07 million in FY25.
  • Total comprehensive loss for the year was Rs 2,033.28 million, compared to Rs 2,626.51 million in the previous year.
  • Basic and Diluted EPS for the year improved to Rs (2.90) from Rs (4.11) in FY25.

Q4FY26 Standalone Financial Highlights:

  • Revenue from operations stood at Rs 6,804.21 million, a decrease of 9.25% on a QoQ basis from Rs 7,497.96 million in Q3FY26 and an increase of 10.45% on a YoY basis from Rs 6,160.33 million in Q4FY25.
  • Total Income for the quarter was Rs 7,210.26 million, a decline of 8.99% QoQ but a growth of 8.55% YoY.
  • Net Profit for the quarter was Rs 316.41 million, down 31.53% from Rs 462.12 million in Q3FY26 and up 111.73% from Rs 149.44 million in Q4FY25.
  • Total comprehensive income for the quarter reached Rs 322.96 million.

FY26 Standalone Financial Highlights:

  • Revenue from operations for FY26 reached Rs 27,315.94 million, representing a growth of 10.55% YoY compared to Rs 24,708.56 million in FY25.
  • Annual Net Profit increased by 81.93% to Rs 1,089.30 million from Rs 598.76 million in the previous year.
  • Standalone Basic EPS for FY26 improved to Rs 2.087 from Rs 1.182 in FY25.

Business Highlights:

  • Segment Performance:
    • India multi-channel: This segment reported a revenue of Rs 57,533.35 million in FY26 (compared to Rs 52,784.90 million in FY25) and a segment profit of Rs 2,279.31 million.
    • International: This segment reported a revenue of Rs 9,474.18 million in FY26 (compared to Rs 8,585.52 million in FY25) and a segment loss of Rs 1,166.60 million.
    • Globalbees: This segment reported a revenue of Rs 18,943.48 million in FY26 (compared to Rs 15,777.02 million in FY25) and a segment loss of Rs 318.12 million.
  • Investments for Expansion: The Board approved a further investment not exceeding AED 34 million out of IPO proceeds in its wholly owned subsidiary, Firstcry Management DWC LLC. This includes an investment not exceeding SAR 22 million in Firstcry Trading Company, Kingdom of Saudi Arabia, and the balance in Firstcry Retail DWC LLC, United Arab Emirates, for business expansion.
  • Medical Devices Business Transfer: The Company is hiving off its Medical Devices Business to its subsidiary, Morepen Medipath Limited, on a 'slump sale' basis. The 'Appointed Date' has been revised to April 1, 2026. The lump-sum consideration is set at Rs 19,710.12 million, subject to customary adjustments.
  • IPO Proceeds Utilization: As of March 31, 2026, the company has utilized Rs 8,552.35 million from the net IPO proceeds of Rs 16,017.35 million. Major utilizations include sales and marketing initiatives (Rs 1,891.90 million) and funding inorganic growth (Rs 2,706.57 million).
  • Exceptional Items: Consolidated exceptional items (net) for FY26 amounted to an expense of Rs 500.09 million. This primarily includes a loss of Rs 355.71 million from the write-off of current assets in non-core businesses of Globalbees subsidiaries and an impact of Rs 145.21 million on retirement benefits due to the new labour codes.
  • Subsidiary Update: On July 31, 2025, the Parent's shareholding in Dr. Morepen Limited reduced from 80% to 19.94%, resulting in a loss of control. Consequently, it ceased to be a subsidiary and is now accounted for as an investment.

Result PDF

Internet Software & Services company Pine Labs announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations: The consolidated revenue for FY26 stood at Rs 2,710.59 crore, representing a YoY growth of 19.19% compared to Rs 2,274.27 crore in FY25. For Q4FY26, revenue was Rs 700.51 crore, an increase of 17.02% YoY from Rs 598.64 crore in Q4FY25, and a decrease of 5.88% QoQ from Rs 744.27 crore in Q3FY26.
  • Total Income: For the full year FY26, total income reached Rs 2,847.15 crore, up 22.35% YoY from Rs 2,327.09 crore. Q4FY26 total income was Rs 741.44 crore, growing 21.44% YoY from Rs 610.55 crore and declining 4.91% QoQ from Rs 779.72 crore.
  • Profit After Tax (PAT): The company achieved its first full year of consolidated profitability with a PAT of Rs 112.51 crore in FY26, compared to a loss of Rs 145.49 crore in FY25. Q4FY26 PAT was Rs 59.36 crore, a significant improvement from a loss of Rs 28.91 crore in Q4FY25 and a 40.03% increase QoQ from Rs 42.39 crore in Q3FY26.
  • Profit Before Tax: For FY26, profit before tax was Rs 137.28 crore against a loss of Rs 136.39 crore in FY25. Q4FY26 profit before tax was Rs 68.41 crore, compared to a loss of Rs 22.21 crore in Q4FY25 and an increase of 9.37% QoQ from Rs 62.55 crore in Q3FY26.

Standalone Financial Highlights:

  • Revenue from Operations: Standalone revenue for FY26 was Rs 1,926.09 crore, up 20.58% YoY from Rs 1,597.31 crore. In Q4FY26, revenue stood at Rs 515.42 crore, increasing 24.01% YoY from Rs 415.62 crore and decreasing 6.01% QoQ from Rs 548.40 crore.
  • Total Income: Standalone total income for FY26 was Rs 2,098.38 crore, a 20.55% increase YoY from Rs 1,740.58 crore. For Q4FY26, it was Rs 572.23 crore, up 19.83% YoY from Rs 477.53 crore and down 4.44% QoQ from Rs 598.82 crore.
  • Profit After Tax (PAT): Standalone PAT for FY26 grew by 434.90% YoY to Rs 149.88 crore from Rs 28.02 crore. Q4FY26 PAT was Rs 67.29 crore, up 78.44% YoY from Rs 37.71 crore and up 18.82% QoQ from Rs 56.63 crore.
  • Profit Before Tax: Standalone profit before tax for FY26 was Rs 178.77 crore, up 394.93% YoY from Rs 36.12 crore. Q4FY26 profit before tax was Rs 89.84 crore, up 102.75% YoY from Rs 44.31 crore and up 19.85% QoQ from Rs 74.96 crore.

Business Highlights:

  • Pine Labs recorded its first full year of profitability with a consolidated PAT of Rs 113 crore for FY26.
  • Operating cash flows reached Rs 395 crore for FY26, growing 8x year-on-year. Q4FY26 delivered Rs 676 crore in operating cash flow, the highest quarterly figure in the company’s history.
  • Adjusted EBITDA for FY26 reached Rs 559 crore, growing 57% YoY, with margins expanding from 16% to 21% within the year.
  • The company processed USD 194 billion in Gross Transaction Value (GTV) in FY26, growing 50% YoY.
  • UPI volumes accelerated 68% and the platform is now enabling over 20 million daily transactions.
  • International revenue crossed Rs 400 crore in FY26, growing at a 44% CAGR over the past three years, and now contributes approximately 15% of total revenue.
  • Approximately 89% of the company’s code changes are currently contributed by AI agents.
  • The company has expanded its footprint to 22 countries, including entry into the US market through the launch of prepaid programs.
  • Segment-wise Performance:
    • Digital infrastructure and transaction platform: This segment recorded a revenue of Rs 1,836.82 crore for FY26 and Rs 466.12 crore for Q4FY26.
    • Issuing and acquiring platform: This segment recorded a revenue of Rs 873.77 crore for FY26 and Rs 234.39 crore for Q4FY26.

Amrish Rau, Chief Executive Officer, Pine Labs. said: “These numbers tell us we are winning transactions, winning merchants, and winning in new markets,”

"When GTV grows at 50% while revenue grows at 19%, it reflects the platform depth we have built —and it leaves significant monetisation headroom ahead of us.”

"We are not just processing payments,” said Rau. "We are building the infrastructure layer that merchants, financial institutions, and brands will rely on to grow —in India and across the Global South. The fintech model Pine Labs has built at scale in Indiais exactly what emerging markets across Southeast Asia, the Middle East, and Africa are looking to adopt. Thatis a structural opportunity, and we intend to win it."

Result PDF

Education company Crizac announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income: Stood at Rs 39,856.70 lakh for Q4FY26, and Rs 107,111.84 lakh for FY26.
  • Net Profit: Stood at Rs 7,504.91 lakh for Q4FY26, and Rs 21,679.52 lakh for FY26.
  • Earnings Per Share (EPS): Basic and diluted EPS stood at Rs Rs 4.29 for Q4FY26, and Rs 12.52 for FY26.

Standalone Financial Highlights:

  • Total Income: Stood at Rs 7,451.74 lakh for Q4FY26, and Rs 29,435.06 lakh for FY26.
  • Net Profit: Stood at Rs 3,605.17 lakh for Q4FY26, and Rs 16,046.87 lakh for FY26.
  • Earnings Per Share (EPS): Basic and diluted EPS stood at Rs 2.15 for Q4FY26, and Rs 9.54 for FY26.

Business Highlights:

  • Business Segment: The Group is primarily engaged in the business of "International Student Recruitment". There are no separate reportable segments.
  • Acquisitions:
    • Global Tree Careers Private Limited (GTCPL): During Q4FY26, the company acquired a 51.04% stake in GTCPL.
    • Studies Planet.com Limited (SPL): Pursuant to an agreement dated October 23, 2025, the company acquired a 51.00% stake in SPL through its wholly-owned subsidiary, Crizac Ltd UK.
  • Dividends: During the year ended March 31, 2026, the Board of Directors declared an interim dividend of Rs 8.00 per equity share (face value Rs 2 each). The total cash outflow for this dividend was Rs 13,998.60 lakhs.
  • Auditor Appointment: The Board appointed M/s Grant Thornton Bharat LLP as the Internal Auditor of the Company for the FY27.

Vikash Agarwal, Chairman & Managing Director, Crizac, said: “FY26 was a year of strong progress for Crizac Limited, underpinned by effective execution across organic and inorganic growth initiatives. Total Income for the year stood at Rs 10,711 million, reflecting YoY growth of 21.0%. For the fourth quarter, Total Income stood at Rs 3,986 million, growing 14.7% YoY and 39.6% QoQ. This performance was driven by 43.0% YoY growth in applications processed, 36.5% YoY growth in active agents, and 13.8% growth in student enrolments, reflecting sustained operating momentum across our global education platform.

We deepened our footprint across established destination markets while driving meaningful growth in application volumes and agent engagement across Asia, Africa, and other high-potential source regions. Our expanding agent network and institutional partnerships continue to reinforce the scalability and network effects inherent to our platform model.

Inorganically, this was a year of concentrated strategic activity. In October 2025, we acquired Studies Planet, opening the LATAM market as a new source region. In January 2026, we acquired a 51% stake in Global Tree Careers, strengthening domestic origination and broadening our B2C service portfolio. In March 2026, we committed USD 2.5 million to Edumentor project, advancing our Al-driven student matching capabilities. Continuing this expansion momentum, we scaled our New Zealand vertical through onboarding of the Medway Educational Consultants team, deepening our destination market presence. With four strategic transactions completed during the year, our pace of inorganic activity is visibly accelerating. These moves reflect our delib erate strategy of using acquisitions to compress timelines for geographic entry and capability build-out. We remain actively engaged in evaluating opportunities across both new and existing geographies, targeting assets that enhance scale, technology, or market access.

EBITDA for FY26 stood at Rs 2,824 million, reflecting YoY growth of 31.0%. EBITDA margin expanded by 172 bps to 27.1%, demonstrating the operating leverage inherent in our business model. EBITDA for Q4FY26 stood at Rs 939 million, reflecting YoY growth of 42.8% with margin expanding by 467 bps to 24.0%.

PAT for FY26 stood at Rs 2,191 million, a YoY growth of 41.4%, with a PAT margin of 20.5%. For Q4FY26, PAT stood at Rs 750 million, a YoY growth of 50.3%, with a PAT margin of 18.8%, supported by the scalable and asset-light nature of our operating model. The Board declared a dividend of Rs 8 per equity share during Q4FY26, representing a payout ratio of approximately 64%, reflecting confidence in the Company's financial strength and continued ability to generate sustainable cash flows.

Global student mobility is navigating a dynamic environment, with evolving visa policies, geopolitical disruptions in certain regions, and the strengthening of the US Dollar and Pound Sterling adding to the cost burden for students from emerging source markets. Notwithstanding these near-term headwinds, long-term structural demand for quality international education remains strong, underpinned by growing aspirations across our core source markets. We are well-positioned to capture this opportunity through our diversified geographic presence, platform scalability, and continued focus on resilient organic as well as inorganic growth."

Result PDF

Internet & Catalogue Retail company Info Edge (India) announced Q4FY26 & FY26 results

Standalone Financial Highlights:

  • Revenue from Operations:
    • Q4FY26: Rs 8,050.96 million, compared to Rs 7,645.53 million in Q3FY26 (QoQ increase of 5.31%) and Rs 6,870.92 million in Q4FY25 (YoY increase of 17.22%).
    • FY26: Rs 30,520.29 million, compared to Rs 26,536.13 million in FY25 (YoY increase of 15.01%).
  • Total Income:
    • Q4FY26: Rs 8,813.60 million, compared to Rs 8,456.60 million in Q3FY26 (QoQ increase of 4.22%) and Rs 7,654.59 million in Q4FY25 (YoY increase of 15.14%).
    • FY26: Rs 33,874.19 million, compared to Rs 29,673.88 million in FY25 (YoY increase of 14.16%).
  • Net Profit After Tax:
    • Q4FY26: Rs 3,091.34 million, compared to Rs 2,464.57 million in Q3FY26 (QoQ increase of 25.43%) and Rs 2,550.65 million in Q4FY25 (YoY increase of 21.20%).
    • FY26: Rs 55,357.08 million, compared to Rs 7,734.20 million in FY25 (YoY increase of 615.89%).

Consolidated Financial Highlights:

  • Revenue from Operations:
    • Q4FY26: Rs 8,690.05 million, compared to Rs 8,194.14 million in Q3FY26 (QoQ increase of 6.05%) and Rs 7,496.25 million in Q4FY25 (YoY increase of 15.93%).
    • FY26: Rs 32,847.32 million, compared to Rs 28,495.51 million in FY25 (YoY increase of 15.27%).
  • Total Income:
    • Q4FY26: Rs 13,650.35 million, compared to Rs 10,069.50 million in Q3FY26 (QoQ increase of 35.56%) and Rs 12,704.50 million in Q4FY25 (YoY increase of 7.44%).
    • FY26: Rs 43,432.86 million, compared to Rs 39,227.98 million in FY25 (YoY increase of 10.72%).
  • Net Profit for the Period:
    • Q4FY26: Rs 7,557.49 million, compared to Rs 3,167.40 million in Q3FY26 (QoQ increase of 138.60%) and Rs 6,778.92 million in Q4FY25 (YoY increase of 11.48%).
    • FY26: Rs 17,628.42 million, compared to Rs 13,099.01 million in FY25 (YoY increase of 34.58%).

Business Highlights:

  • Dividend: The Board has recommended a final dividend of Rs 3.60 per equity share (on a face value of Rs 2/- each) for FY26, subject to shareholder approval at the 31st AGM.
  • AGM: The 31st Annual General Meeting is scheduled for Tuesday, August 25, 2026, to be held via Video Conferencing/Other Audio-Visual Means.
  • Operational Performance:
    • The Company reported standalone operating profit margins of 40.1% for Q4FY26, reflecting a year-over-year improvement of 639 bps.
    • Recruitment business billings grew 9.5% YoY in Q4FY26.
    • 99acres saw continued market share gains, with live new project listings growing 28% YoY in Q4.
    • Jeevansathi continued to generate cash from operations in Q4FY26.
  • Investments: The company holds 21 active financial investments in its portfolio of technology-based startups with a total carrying value of Rs 781 crore. Notable investments include Eternal (12.43% shareholding) and PB Fintech (12.12% shareholding).
  • Strategic Investments: The company holds strategic investments in Aisle, Zwayam, Axilly Labs, Terralytics, Sunrise Mentors, and NoPaperForms Solutions.

Hitesh Oberoi, Managing Director & Chief Executive Officer, said: “FY26 was a steady year. Topline grew at a measured pace, and operating margins improved through the year, especially in the Recruitment business. 99acres and Jeevansathi continued to gain market share and strengthen their market positions. We also made significant progress in deploying AI across our businesses, deepening its usage in matching, recommendations, and developing new AI-native products and features, improving the value we deliver to users and customers.”

Ambarish Raghuvanshi, CFO, said: “FY26 saw steady improvement across key financial metrics. Revenue grew by 15%, and operating profit by 17% for the Standalone business. Cash generated from operations (pre-tax) from the Recruitment business was Rs 1,513 crore, and our non-recruitment businesses on a combined basis were also cash profitable for the full year.”

Result PDF

Travel Support Services company LE Travenues Technology announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income: For Q4FY26, the total income was Rs 3,268.15 million, reflecting a QoQ decrease of 2.77% (from Rs 3,361.14 million in Q3FY26) and a YoY increase of 12.66% (from Rs 2,900.79 million in Q4FY25). For FY26, total income stood at Rs 12,753.46 million compared to Rs 9,322.66 million in FY25, representing a YoY increase of 36.80%.
  • Revenue from Operations: For Q4FY26, revenue stood at Rs 3,080.49 million, down 3.65% QoQ (from Rs 3,197.04 million in Q3FY26) but up 8.42% YoY (from Rs 2,841.37 million in Q4FY25). For FY26, revenue was Rs 12,280.39 million, marking a YoY increase of 34.32% from Rs 9,142.46 million in FY25.
  • Net Profit: For Q4FY26, net profit was Rs 320.50 million, showing a QoQ growth of 33.81% (from Rs 239.51 million in Q3FY26) and a YoY growth of 91.10% (from Rs 167.71 million in Q4FY25). For FY26, net profit reached Rs 714.81 million compared to Rs 602.52 million in FY25, an increase of 18.64%.

Standalone Financial Highlights:

  • Total Income: For Q4FY26, standalone total income was Rs 3,178.85 million, a decrease of 4.11% QoQ (from Rs 3,315.07 million in Q3FY26) but an increase of 10.61% YoY (from Rs 2,873.83 million in Q4FY25). For FY26, total income was Rs 12,546.66 million, up 35.11% YoY compared to Rs 9,286.04 million in FY25.
  • Revenue from Operations: For Q4FY26, standalone revenue was Rs 2,990.07 million, reflecting a QoQ decrease of 5.18% (from Rs 3,153.52 million in Q3FY26) and a YoY increase of 6.23% (from Rs 2,814.67 million in Q4FY25). For FY26, revenue from operations reached Rs 12,075.07 million, marking a YoY increase of 32.60% from Rs 9,106.20 million in FY25.
  • Net Profit: For Q4FY26, standalone net profit was Rs 374.24 million, representing a QoQ growth of 36.98% (from Rs 273.20 million in Q3FY26) and a YoY growth of 86.01% (from Rs 201.19 million in Q4FY25). For FY26, standalone net profit was Rs 962.11 million compared to Rs 634.50 million in FY25, an increase of 51.63%.

Business Highlights:

  • Segment Performance:
    • Flight: FY26 revenue reached Rs 3,906.78 million, up from Rs 2,533.93 million in FY25.
    • Train: FY26 revenue stood at Rs 5,112.57 million, up from Rs 4,569.02 million in FY25.
    • Bus: FY26 revenue was Rs 2,979.95 million, up from Rs 1,969.24 million in FY25.
    • Others: FY26 revenue reached Rs 281.09 million, up from Rs 70.27 million in FY25.
  • International Expansion & Acquisitions:
    • The Company incorporated a wholly-owned subsidiary, IXIGO PTE. LTD., in Singapore on December 18, 2025.
    • IXIGO PTE. LTD. entered into an agreement on February 13, 2026, to acquire a 60% stake in Online Travel Solutions, S.L. ("Trenes") for a cash consideration of USD 11.70 million. Trenes became a subsidiary of the group with effect from February 25, 2026.
  • Employee Stock Options: The Board approved the allotment of 485,584 fully paid-up equity shares (face value Rs 1/- each) following the exercise of stock options under various ESOP schemes (2012, 2013, 2016, 2020, 2021, and 2024). Consequently, the paid-up share capital increased to Rs 438,669,111/-.
  • Statutory Impact: The group recognized an incremental impact of Rs 27.96 million as an "Exceptional Item" in FY26 due to the notification of new Labour Codes, which resulted in an increase in gratuity and leave liabilities.
  • IPO Proceeds: The company utilized Rs 1,111.08 million of its net IPO proceeds by March 31, 2026, primarily for funding working capital requirements, cloud infrastructure, and funding inorganic growth.
  • Preferential Allotment: During FY26, the company completed a preferential issue of 4,62,70,092 equity shares at Rs 280 per share, aggregating to Rs 12,955.63 million. Of this, Rs 5,547.70 million was utilized by March 31, 2026, for organic and inorganic growth opportunities and working capital requirements.

Aloke Bajpai, Group CEO, ixigo & Rajnish Kumar, Group Co-CEO, said: “In FY26 we achieved 34% revenue growth and 28% Adj. EBITDA growth YoY. Q4 maintained our growth trajectory with market-share gains, despite the high base-effect of MahaKumbh last year and the current Middle-East crisis. The next phase of our journey is all about reinventing our org as well as customer experience, by putting AI at the core. ixigo NEXT is just a sneak peek of the agentic AI capabilities we’re working on.”

Saurabh Devendra Singh, Group CFO, ixigo, said: “FY26 demonstrated the advantage of having a diversified business supported by resilient growth engines. Even in Q4 FY26, despite a high base effect, we delivered a resilient performance. For me, the biggest highlight of the year was our operating discipline and cash conversion.“

Result PDF

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