Expleo Solutions first-half profit rises 34% to Rs 60.60 crore

Expleo Solutions Limited reported standalone profit after tax of Rs 60.60 crore for the six months ended September 30, 2026, up 34% from Rs 45.35 crore a year earlier, as revenue from operations rose to Rs 515.60 crore. Expleo Solutions’ September-quarter profit, however, declined 6% year on year to Rs 31.46 crore.

What were Expleo Solutions’ standalone first-half results?

Expleo Solutions’ standalone revenue from operations increased 12.44% to Rs 515.60 crore in the six months ended September 30, 2026, from Rs 458.55 crore in the corresponding period a year earlier. Total income rose 11.70% to Rs 528.41 crore, while profit before tax increased to Rs 78.03 crore from Rs 64.58 crore.

Profit after tax rose by Rs 15.25 crore to Rs 60.60 crore from Rs 45.35 crore, an increase of 33.62%. Basic and diluted earnings per equity share were Rs 39.05 for the first half, compared with Rs 31.16 a year earlier; Expleo Solutions said interim earnings per share had not been annualised.

Other income fell to Rs 12.81 crore in the first half from Rs 14.53 crore a year earlier. The rise in total income therefore principally reflected the Rs 57.05 crore increase in revenue from operations rather than other income.

Why did Expleo Solutions’ September-quarter profit decline?

Expleo Solutions’ profit after tax for the quarter ended September 30, 2026 was Rs 31.46 crore, down 6.10% from Rs 33.51 crore in the quarter ended September 30, 2025. Revenue from operations edged up 1.04% to Rs 259.94 crore from Rs 257.26 crore, while profit before tax declined to Rs 38.85 crore from Rs 45.02 crore.

The September quarter improved from the immediately preceding June 2026 quarter, when profit after tax was Rs 29.14 crore and revenue from operations was Rs 255.67 crore. The sequential profit increase was Rs 2.32 crore, but the year-on-year comparison remained lower because the September 2025 quarter reported Rs 33.51 crore of profit.

Employee-benefit expense rose 11.93% to Rs 167.84 crore in the September 2026 quarter from Rs 149.95 crore a year earlier. Other income declined to Rs 7.86 crore from Rs 10.66 crore over the same comparison, while the filing does not provide management’s explanation for the individual movements in costs or income.

How did Expleo Solutions’ first-half cost base change?

Expleo Solutions reported total expenses of Rs 450.38 crore for the six months ended September 30, 2026, compared with Rs 408.50 crore in the prior-year period. The Rs 41.88 crore increase was lower than the Rs 55.33 crore rise in total income, resulting in profit before tax of Rs 78.03 crore.

Employee-benefit expense was Rs 332.00 crore in the first half, up from Rs 291.71 crore a year earlier. Cost of materials consumed and other direct costs rose to Rs 5.93 crore from Rs 5.31 crore, while other expenses increased to Rs 103.05 crore from Rs 85.54 crore.

Finance cost was Rs 1.87 crore in the six months ended September 30, 2026, compared with Rs 0.24 crore a year earlier. Expleo Solutions has one business segment under Indian Accounting Standard 108, covering development and engineering, consultancy and other services, so the filing does not provide a segment-level split of these expenses.

What does Expleo Solutions’ September balance sheet show?

Expleo Solutions held cash and cash equivalents of Rs 238.00 crore at September 30, 2026, down from Rs 323.88 crore at March 31, 2026. Trade receivables fell to Rs 228.10 crore from Rs 238.87 crore over the same period.

Bank balances other than cash equivalents were Rs 10.89 crore at September 30, compared with Rs 21.50 crore at the March year-end. Other current financial assets were Rs 54.02 crore, down from Rs 57.93 crore, while other current assets increased to Rs 36.31 crore from Rs 28.05 crore.

Non-current lease liabilities increased to Rs 18.07 crore at September 30, 2026 from Rs 5.06 crore at March 31, 2026. Current lease liabilities were Rs 5.09 crore, compared with Rs 2.79 crore, and the filing does not state reasons for the movements in cash or lease liabilities.

What reporting and subsidiary developments did Expleo Solutions disclose?

Expleo Solutions’ Audit Committee reviewed the standalone results on November 13, 2026, and its board approved them on November 14, 2026. Deloitte Haskins & Sells issued an unmodified review conclusion on the unaudited standalone financial results for the quarter and six months ended September 30, 2026.

Expleo Solutions said it will submit unaudited standalone and consolidated financial results for the first three quarters of financial year 2026-27. It said audited standalone and consolidated results will follow for the year ending March 31, 2027, but did not disclose financial guidance or a target for the remaining quarters.

The company incorporated wholly owned subsidiary Expleo Solutions Gift IFSC Limited in India on June 14, 2026. It received approval from the International Financial Services Centres Authority to commence operations and transferred Rs 2.10 crore of initial capital on October 1, 2026; the subsidiary had no transactions as of September 30, 2026 and was in the process of commencing operations.

Conclusion

Expleo Solutions’ first-half standalone results showed revenue rising to Rs 515.60 crore and profit after tax increasing to Rs 60.60 crore in the six months ended September 30, 2026. The latest quarter presented a different comparison, with September-quarter profit declining to Rs 31.46 crore as employee-benefit expense rose faster than quarterly revenue and other income fell year on year.

The next quarterly filing under Expleo Solutions’ stated financial year 2026-27 reporting plan will indicate whether revenue growth and employee-cost movements change after September. The operational commencement of Expleo Solutions Gift IFSC Limited is also a disclosed matter to watch, following the Rs 2.10 crore capital transfer on October 1, 2026.