ECO Mobility Q2 PAT rises 21% as margin reaches 11.92%

ECOS (India) Mobility & Hospitality Limited reported Q2 FY27 profit after tax of Rs 17.732 crore, up 21.40% year on year, as EBITDA margin rose 158 basis points sequentially to 11.92%. ECO Mobility also reported its highest-ever quarterly revenue from operations, at Rs 234.506 crore for the quarter ended September 30, 2026.

What were ECO Mobility's Q2 FY27 financial results?

ECO Mobility reported total revenue of Rs 238.445 crore in Q2 FY27, up 10.32% from Rs 216.144 crore in Q2 FY26, while revenue from operations rose 9.48% to Rs 234.506 crore from Rs 214.208 crore. Management described Q2 FY27 revenue from operations as the company’s highest quarterly level, and said it was 10.94% above Q1 FY27.

Profit after tax, or PAT, grew faster than revenue, increasing 21.40% year on year to Rs 17.732 crore from Rs 14.606 crore. PAT margin rose by 68 basis points to 7.44% from 6.76%, while earnings per share increased to Rs 2.96 from Rs 2.43. EBITDA, or earnings before interest, tax, depreciation and amortisation, excluding other income, increased 13.78% to Rs 27.949 crore.

How did ECO Mobility's profitability change from Q1 FY27?

ECO Mobility’s EBITDA margin increased to 11.92% in Q2 FY27 from 10.34% in Q1 FY27, a 158-basis-point sequential expansion. EBITDA rose 27.93% quarter on quarter to Rs 27.949 crore, outpacing the 10.94% quarter-on-quarter increase in revenue from operations. Management attributed the improvement in profitability to cost efficiencies and operating leverage from its scalable platform.

The first-half comparison was different because H1 FY27 EBITDA margin was 11.17%, below 11.74% in H1 FY26. H1 FY27 EBITDA nevertheless rose 7.27% year on year to Rs 49.798 crore, while revenue from operations increased 12.79% to Rs 445.878 crore. H1 FY27 PAT grew 15.72% to Rs 32.282 crore, and PAT margin rose to 7.12% from 6.97% a year earlier.

What operating activity supported ECO Mobility's Q2 growth?

ECO Mobility completed approximately 1.58 million trips in Q2 FY27, representing growth of about 15% year on year and about 7% from Q1 FY27. Trips crossed 3 million in H1 FY27, up about 21% from H1 FY26. Management cited healthy business volumes and expanding customer relationships as drivers of the September-quarter outcome.

Employee transportation services, or ETS, accounted for 58% of Q2 FY27 revenue, while chauffeured car rentals, or CCR, accounted for 42%. ECO Mobility onboarded 72 clients during the quarter, compared with 67 in Q2 FY26 and 61 in Q1 FY27, taking its active client base to 1,538. Around 50% of quarterly revenue came from customers associated with ECO Mobility for more than five years.

How did ECO Mobility's network and fleet change during Q2 FY27?

ECO Mobility expanded its presence to 160 cities after adding nine cities in Q2 FY27. Its owned and vendor-operated fleet reached approximately 20,500 vehicles as of September 30, 2026, about 12% higher than a year earlier. Around 95% of the fleet was vendor-operated under the company’s asset-light model.

ECO Mobility’s electric-vehicle fleet rose to 475 vehicles at the end of Q2 FY27, compared with 460 at the end of Q1 FY27 and 338 a year earlier. During the quarter, the company launched its business-to-consumer app for premium chauffeur-driven car rentals on Android and Apple platforms. It also continued building distribution for its SIXT partnership under an exclusive India general sales agent arrangement.

What was ECO Mobility's financial position at September 2026?

ECO Mobility reported a debt-free balance sheet as of September 30, 2026, with cash and investments of Rs 125.611 crore and net worth of Rs 282.669 crore. The cash and investments figure included Rs 24.337 crore in mutual funds for which redemption requests had been initiated; the company said the proceeds were subsequently received through the settlement process.

Shareholders approved a final dividend of Rs 2.38 per equity share for FY26 at the 30th annual general meeting held on September 21, 2026. The dividend relates to FY26 and is separate from the Rs 17.732 crore PAT reported for Q2 FY27. Management said its debt-free position, scalable platform and enterprise relationships supported its focus on sustainable and profitable growth.

Conclusion

ECO Mobility’s Q2 FY27 outcome combined 9.48% growth in revenue from operations with 21.40% PAT growth and a sequential EBITDA-margin increase to 11.92%. The quarter also included approximately 1.58 million trips, 72 client additions and nine new cities, while ETS remained the larger revenue contributor at 58%.

The next disclosed operating developments to watch are distribution progress under the SIXT India arrangement and adoption of the B2C app launched during Q2 FY27. Investors can also track whether the 475-vehicle electric fleet, approximately 20,500-vehicle total fleet and 1,538 active-client base continue to expand after September 30, 2026.