Blue Water Logistics Limited Q2 Revenue Rises 213% to ₹272 Crore

Blue Water Logistics Limited reported ₹272 crore of revenue in Q2 FY27, a 212.6% year-on-year increase, while net profit rose 220% to ₹16 crore for the quarter ended September 30, 2026. The performance lifted first-half revenue to ₹483.29 crore and first-half profit to ₹29.97 crore.

What did Blue Water Logistics Limited report for Q2 FY27?

Blue Water Logistics Limited reported strong growth across its key profit measures for Q2 FY27. Revenue increased to ₹272 crore from ₹87 crore in Q2 FY26 and from ₹211 crore in Q1 FY27. The sequential increase was 28.9%, showing that revenue continued to expand after the strong June-quarter performance.

Operating profit, or EBITDA, rose to ₹35 crore from ₹9 crore a year earlier, an increase of 288.9%. EBITDA was also 45.8% higher than the ₹24 crore reported in Q1 FY27. The operating margin improved to 13%, compared with 10% in Q2 FY26 and 11% in Q1 FY27.

Profit before tax increased to ₹21 crore, against ₹7 crore in the corresponding quarter of the previous year. Net profit reached ₹16 crore, compared with ₹5 crore in Q2 FY26 and ₹14 crore in Q1 FY27. The company also reported basic earnings per share of ₹14.54 for the reported quarter.

When were the September-quarter results approved?

Blue Water Logistics approved the unaudited financial results for the quarter and half year ended September 30, 2026, at its board meeting on November 6, 2026. The company had previously informed the exchange that the board would consider the half-yearly results at that meeting.

The filing identifies April 1, 2026, as the start of the current reporting period and September 30, 2026, as its end. The results remain unaudited. Blue Water Logistics had also approved unaudited standalone results for the quarter ended June 30, 2026, at a board meeting held on July 27, 2026, with a Limited Review Report from its statutory auditors.

The company has scheduled an earnings call for November 12, 2026, to discuss the unaudited Q2 and H1 FY27 results. That event is the next disclosed forum for management to discuss the reported financial performance.

How did Blue Water Logistics perform in the first half of FY27?

Blue Water Logistics recorded revenue of ₹483.29 crore in H1 FY27, compared with ₹138.27 crore in H1 FY26. Net profit for the first half stood at ₹29.97 crore. The half-year numbers reflect the contribution from a June quarter in which revenue was ₹211.22 crore and profit after tax was ₹13.97 crore.

In Q1 FY27, revenue rose 315.4% year on year to ₹211.2 crore, while EBITDA grew 259.6% to ₹23.6 crore. Q1 PAT increased 295.9% year on year to ₹14 crore. The Q1 EBITDA margin was 11.2%, lower than 12.9% in the comparable prior-year quarter, before the operating margin improved to 13% in Q2.

The available company information attributes the Q1 revenue expansion to volume growth across ocean freight, non-vessel operating common carrier, or NVOCC, and air-freight operations, alongside branch expansion. These operating segments provide the stated context for the substantial rise in revenue during the first half.

What should investors note beyond the profit growth?

Blue Water Logistics' results show that profit grew faster than revenue in Q2 FY27. Revenue rose 212.6% year on year, while EBITDA rose 288.9% and net profit rose 220%. The improvement in operating margin to 13% is an important reported measure because it indicates a higher operating profit per rupee of revenue than in both the prior-year quarter and Q1 FY27.

However, the company reported negative operating cash flow of ₹106.17 crore for H1 FY27. The disclosed reason was a sharp increase in working capital and receivables. For a logistics business with rapidly expanding revenue, receivables and working-capital requirements are relevant to the relationship between reported profit and cash generation.

The company information also noted vessel availability as a potential operational challenge and referred to increasing debt levels. No financial impact from these factors was quantified in the supplied disclosures. Investors can therefore distinguish between the reported earnings growth and the separate working-capital and operational matters highlighted alongside the results.

What corporate actions has Blue Water Logistics disclosed?

Blue Water Logistics has disclosed approval for a ₹41 crore preferential warrant issue to promoters at ₹410 per share. The announcement provides the issue size, investor category and issue price, but no further use-of-proceeds detail is included in the supplied information.

The preferential issue is separate from the Q2 and H1 financial-results approval. It is nonetheless relevant for shareholders because preferential warrants can affect the company's capital structure when issued or converted under their stated terms. The reported price of ₹410 per share is the disclosed benchmark for this transaction.

Conclusion

Blue Water Logistics Limited delivered substantial Q2 FY27 growth, with revenue of ₹272 crore, EBITDA of ₹35 crore and net profit of ₹16 crore. The first-half figures of ₹483.29 crore in revenue and ₹29.97 crore in profit show that the June and September quarters together produced a significant increase from the prior-year half.

The next disclosed event is the November 12, 2026 earnings call on the Q2 and H1 unaudited results. Investors will also watch for management's comments on receivables, working-capital cash flow, vessel availability, debt levels and the proposed ₹41 crore preferential warrant issue.