Odyssey Corporation Limited Q2 profit before tax falls 82%

Odyssey Corporation Limited reported standalone profit before tax of Rs 1.38 crore for the quarter ended September 30, 2026, an 82% decline from Rs 7.86 crore in the preceding quarter, although revenue from operations rose to Rs 15.48 crore from Rs 13.21 crore. Total comprehensive income turned into a Rs 8.67 crore loss.

Why did Odyssey Corporation's Q2 profit before tax fall sequentially?

Odyssey Corporation's standalone profit before tax fell because total revenue declined while total expenses increased from the June 2026 quarter. Total revenue was Rs 17.89 crore in the quarter ended September 30, 2026, compared with Rs 20.20 crore in the preceding quarter, while expenses rose to Rs 16.50 crore from Rs 12.34 crore.

The main change in the revenue mix was lower other income. Other income fell to Rs 2.40 crore in Q2 from Rs 6.99 crore in Q1, while purchases of stock-in-trade increased to Rs 15.70 crore from Rs 9.32 crore. Changes in inventories were Rs 40.71 lakh in Q2, compared with Rs 2.57 crore in the June quarter.

Did Odyssey Corporation's operating revenue grow in Q2?

Odyssey Corporation's revenue from operations rose in both the sequential and year-on-year comparisons. Operating revenue reached Rs 15.48 crore in the September 2026 quarter, up from Rs 13.21 crore in the June 2026 quarter and Rs 12.19 crore in the September 2025 quarter.

The rise in operating revenue did not result in higher total revenue sequentially because other income declined by Rs 4.59 crore from Q1. Total revenue of Rs 17.89 crore was Rs 2.31 crore below the June-quarter figure but Rs 3.99 crore above the Rs 13.90 crore reported a year earlier. Odyssey Corporation identifies its activity as one primary business segment and provides no segment-level revenue split.

For the half year ended September 30, 2026, revenue from operations was Rs 28.69 crore, compared with Rs 18.94 crore in the corresponding prior-year half. Total revenue for the six-month period rose to Rs 38.08 crore from Rs 21.83 crore, helped by other income of Rs 9.40 crore versus Rs 2.89 crore a year earlier.

What happened to Odyssey Corporation's comprehensive income?

Odyssey Corporation reported standalone total comprehensive income of negative Rs 8.67 crore in Q2, compared with positive Rs 12.38 crore in Q1 and positive Rs 1.31 crore in the September 2025 quarter. The negative comprehensive result followed a positive Q2 profit before tax of Rs 1.38 crore.

The movement reflected other comprehensive income, net of tax, of negative Rs 9.72 crore in Q2 after positive Rs 5.96 crore in Q1. Items that will be reclassified to the profit and loss account were negative Rs 12.99 crore, partly offset by income tax of Rs 3.27 crore. The filing does not identify the assets, transactions or valuations behind these entries.

Profit from continuing operations was Rs 1.05 crore in Q2, compared with Rs 6.42 crore in Q1 and Rs 1.03 crore a year earlier. The Q2 statement recorded current tax of Rs 33.10 lakh, while current tax in the June quarter was Rs 1.49 crore.

How did Odyssey Corporation's half-year profit compare?

Odyssey Corporation's standalone profit before tax for the half year ended September 30, 2026 was Rs 9.28 crore, compared with Rs 3.11 crore for the half year ended September 30, 2025. The six-month result includes the Rs 7.86 crore profit before tax in the June quarter and Rs 1.38 crore in Q2.

Total expenses for the first half increased to Rs 28.84 crore from Rs 18.73 crore in the comparable prior-year period. Purchases of stock-in-trade were Rs 25.02 crore against Rs 21.56 crore, whereas other expenses declined to Rs 42.02 lakh from Rs 94.70 lakh.

Half-year total comprehensive income was Rs 3.71 crore, below Rs 7.99 crore in the prior-year half despite the increase in profit before tax. Other comprehensive income was negative Rs 3.76 crore for the six months, compared with positive Rs 5.68 crore in the corresponding period of 2025.

What changed in Odyssey Corporation's capital and cash position?

Odyssey Corporation's total assets were Rs 201.80 crore at September 30, 2026, compared with Rs 191.14 crore at March 31, 2026. Total equity increased to Rs 194.49 crore from Rs 182.54 crore, while current assets rose to Rs 119.48 crore from Rs 115.65 crore.

During the year, Odyssey Corporation converted 78.50 lakh warrants priced at Rs 14 each into 78.50 lakh equity shares with a face value of Rs 5 each. The company said the Rs 9 balance per warrant was credited to securities premium, taking share capital to Rs 44.75 crore from Rs 40.82 crore and securities premium to Rs 86.25 crore from Rs 79.18 crore.

Odyssey Corporation also said 75.50 lakh warrants lapsed and were forfeited, with Rs 3.50 received per warrant credited to capital reserve. Capital reserve consequently increased to Rs 3.63 crore from Rs 98.68 lakh. The half-year cash-flow statement showed net operating cash flow of negative Rs 22.82 crore, investing cash inflow of Rs 8.71 crore, financing cash inflow of Rs 8.24 crore, and closing cash and cash equivalents of Rs 7.66 lakh.

The board approved the unaudited standalone and consolidated results on November 6, 2026 after audit committee review. The auditors' limited review stated that nothing had come to their attention to suggest the standalone statement did not disclose information required under the listing regulations.

Conclusion

Odyssey Corporation increased standalone operating revenue in the September 2026 quarter, but lower other income and higher expenses reduced profit before tax to Rs 1.38 crore from Rs 7.86 crore in the June quarter. The fall in other comprehensive income to negative Rs 9.72 crore then resulted in a total comprehensive loss of Rs 8.67 crore.

The next results will show whether operating revenue and stock-in-trade purchases remain near their Q2 levels after the first-half profit before tax of Rs 9.28 crore. The filing also leaves the underlying source of the negative other-comprehensive-income entry unspecified, while the 78.50 lakh warrant conversion and 75.50 lakh warrant forfeiture have altered the capital structure.