East West Freight posts Rs 40.50 lakh Q2 profit turnaround

East West Freight Carriers Limited reported consolidated profit of Rs 40.50 lakh for the quarter ended September 30, 2026, reversing a Rs 170.34 lakh loss a year earlier, as total expenses fell to Rs 52.91 crore from Rs 57.61 crore while total revenue declined to Rs 53.65 crore.

What did East West Freight report in Q2?

East West Freight reported consolidated profit for the period of Rs 40.50 lakh in the quarter ended September 30, 2026, compared with a loss of Rs 170.34 lakh in the quarter ended September 30, 2025. Total comprehensive income was Rs 40.46 lakh after an other comprehensive loss of Rs 0.04 lakh, whereas the comparable quarter carried a loss of Rs 170.34 lakh.

The pre-tax result also changed direction in the September 2026 quarter. Profit before exceptional items and tax was Rs 74.11 lakh, against a loss of Rs 2.27 crore a year earlier. The statement reported no exceptional item in either quarter, so the disclosed movement occurred through revenue, other income and expense lines rather than a separately identified exceptional gain or charge.

East West Freight also improved sequentially from the June 2026 quarter. Profit for the period rose from Rs 22.07 lakh in the preceding quarter to Rs 40.50 lakh in Q2, while pre-tax profit increased from Rs 46.49 lakh to Rs 74.11 lakh. Total revenue rose from Rs 45.56 crore in June 2026 to Rs 53.65 crore in September 2026.

Why did East West Freight return to profit despite lower revenue?

East West Freight returned to profit because its Q2 total expenses declined by more than its total revenue. Total revenue fell by Rs 1.68 crore year on year, to Rs 53.65 crore from Rs 55.33 crore, while total expenses decreased by Rs 4.70 crore to Rs 52.91 crore from Rs 57.61 crore.

Cost of materials consumed was the largest disclosed expense movement. It declined to Rs 44.71 crore in Q2 from Rs 49.38 crore a year earlier, a reduction of Rs 4.67 crore. Employee benefits expense fell to Rs 3.46 crore from Rs 3.98 crore, although finance cost increased to Rs 2.29 crore from Rs 1.80 crore.

Other income did not account for the turnaround on the reported figures. East West Freight recorded negative other income of Rs 0.38 lakh in Q2, compared with positive other income of Rs 16.55 lakh in the prior-year quarter. The filing therefore shows expenses falling below total revenue in September 2026, following a quarter in which expenses exceeded total revenue by Rs 2.27 crore.

How did East West Freight perform in the first half?

East West Freight reported a consolidated profit of Rs 62.57 lakh for the half year ended September 30, 2026, compared with a loss of Rs 2.02 crore in the corresponding half year. Profit before exceptional items and tax turned to Rs 1.21 crore from a loss of Rs 2.53 crore, an improvement of Rs 3.74 crore.

First-half total revenue declined to Rs 99.21 crore from Rs 112.03 crore in the six months ended September 30, 2025. Total expenses declined further, to Rs 98.00 crore from Rs 114.56 crore. That left a pre-tax profit of Rs 1.21 crore in the latest half year, while expenses had exceeded total revenue by Rs 2.53 crore in the earlier period.

Current tax expense was Rs 25 lakh in the latest half year, compared with Rs 17 lakh a year earlier. Deferred tax was negative Rs 0.27 lakh, against negative Rs 79.33 lakh in the prior period. Profit from continuing operations was Rs 81.13 lakh, from a loss of Rs 1.91 crore, before the statement recorded Rs 18.55 lakh of non-controlling interest.

What do East West Freight's September balance-sheet figures show?

East West Freight reported consolidated total assets of Rs 151.80 crore at September 30, 2026, compared with Rs 150.64 crore at March 31, 2026. Non-current assets increased to Rs 42.99 crore from Rs 41.69 crore, while current assets were largely unchanged at Rs 108.81 crore from Rs 108.95 crore.

Trade receivables declined to Rs 79.65 crore at September 30 from Rs 81.25 crore at March 31. Property, plant and equipment increased to Rs 30.95 crore from Rs 29.96 crore, and right-of-use assets rose to Rs 63.95 lakh from Rs 33.87 lakh. Other current assets stood at Rs 17.89 crore, close to Rs 17.91 crore at the March year-end.

Non-current borrowings increased to Rs 32.12 crore from Rs 28.78 crore during the six months. Current borrowings fell to Rs 40.37 crore from Rs 41.98 crore, while trade payables decreased to Rs 8.24 crore from Rs 10.70 crore. Total current liabilities were Rs 51.66 crore, compared with Rs 54.99 crore at March 31, 2026.

Which operations and review procedures do the results cover?

East West Freight said it is primarily engaged in freight services and reported no separate business segment under Indian Accounting Standard 108, Operating Segments. Management said other activities revolve around the freight-services business, which was therefore the only reportable business activity in the September 2026 results.

The consolidated statement includes subsidiary Unique Airfreight Express & Logistics Private Limited. The subsidiary recorded revenue of Rs 7.08 crore and net profit after tax of Rs 44.51 lakh in the September 2026 quarter; for the six months ended September 30, its revenue was Rs 11.95 crore and net profit after tax was Rs 74.21 lakh. Its total assets were Rs 12.73 crore at September 30, 2026.

East West Freight's board approved the unaudited consolidated results on November 13, 2026. The statutory auditor conducted a limited review under Standard on Review Engagement 2410 and reported that nothing had come to its attention indicating a material misstatement. The auditor said subsidiary financial information was based on reports issued by the subsidiary's other auditors.

Conclusion

East West Freight's September-quarter and first-half figures show a return to consolidated profitability despite lower revenue in both comparisons. Q2 profit of Rs 40.50 lakh followed a Rs 170.34 lakh loss, while first-half pre-tax profit of Rs 1.21 crore followed a Rs 2.53 crore loss, with lower reported expenses providing the central change.

The next reported period will show whether the expense position seen in Q2 can continue while revenue changes. The disclosed balances that remain relevant are Rs 79.65 crore of trade receivables, Rs 32.12 crore of non-current borrowings and Rs 40.37 crore of current borrowings at September 30, 2026.