Spacenet Enterprises India Limited Q2 Profit Rises 35% to ₹6.8 Cr

Spacenet Enterprises India Limited reported consolidated net profit of ₹6.76 crore for Q2 FY27, up 35% year on year from ₹5.01 crore, while revenue from operations rose 10.9% to ₹53.71 crore for the quarter ended September 30, 2026. The result shows higher revenue and profit compared with the year-earlier quarter, although profit declined from Q1 FY27.

How did Spacenet perform in Q2 FY27?

Spacenet delivered ₹53.71 crore in consolidated revenue from operations in Q2 FY27, compared with ₹48.42 crore in Q2 FY26 and ₹48.88 crore in Q1 FY27. Revenue increased by 10.9% year on year and 9.9% sequentially, based on the reported quarterly figures.

Consolidated net profit was ₹6.76 crore, against ₹5.01 crore a year earlier, representing a 35% increase. However, profit was lower than the ₹13.76 crore reported in the preceding June quarter. The company reported total income of ₹56.71 crore in Q2 FY27, compared with ₹68.74 crore in Q1 FY27 and ₹51.36 crore in Q2 FY26.

Why did Q2 profit decline from the previous quarter?

Spacenet's Q2 FY27 net profit declined sequentially primarily alongside a sharp reduction in other income. Other income fell to ₹3.00 crore from ₹19.86 crore in Q1 FY27, a decrease of ₹16.86 crore, while revenue from operations increased by ₹4.83 crore over the same period.

Profit before tax declined to ₹6.30 crore in Q2 from ₹16.44 crore in Q1. The operating margin listed in the quarterly summary was 11.1%, compared with 23.9% in the preceding quarter. These movements show that the larger other-income contribution in Q1 had a significant effect on the comparison of total income and profit between the two quarters.

The year-on-year comparison was more favourable. Other income was broadly stable at ₹3.00 crore against ₹2.94 crore in Q2 FY26, while revenue from operations increased by ₹5.29 crore. Net profit rose by ₹1.75 crore from the year-earlier quarter.

What were Spacenet's first-half FY27 results?

Spacenet reported consolidated revenue from operations of ₹102.59 crore and net profit of ₹20.53 crore for the half year ended September 30, 2026. The half-year period includes the June 2026 and September 2026 quarters.

The first-half figures reflect different quarterly profit drivers. Q1 FY27 included ₹19.86 crore of other income, whereas Q2 other income was ₹3.00 crore. As a result, the company recorded higher revenue from operations in Q2 than in Q1, but lower total income and net profit.

For context, Spacenet reported revenue from operations of ₹194.71 crore and net profit of ₹16.07 crore for the year ended March 2026. The available Q2 FY27 figures therefore place the first-half revenue at more than half of the revenue reported for the previous full financial year, though periods are not directly comparable because they cover different durations.

What disclosure did Spacenet make after the quarter ended?

Spacenet disclosed that it sold 40,000,000 shares of String Metaverse through the BSE open market on November 12, 2026. The stated average sale price was ₹6.81 per share, implying gross proceeds of about ₹2.72 crore.

The company described the transaction as a partial and material disposal. The sale took place after the September 30 quarter-end and one day before the Q2 FY27 results were reported. The supplied information does not state how the transaction will be reflected in future financial statements, so its accounting effect cannot be determined from the disclosure provided.

The results were submitted to the exchange for the period ended September 30, 2026, following a board meeting scheduled for November 13. The reported numbers are consolidated results, meaning they cover Spacenet and the entities included within its consolidated reporting structure.

How should investors read the Q2 FY27 result?

Spacenet's Q2 result showed year-on-year growth in both operating revenue and net profit, with revenue increasing 10.9% and profit increasing 35%. The quarter also marked a return to a revenue level above ₹50 crore after the ₹48.88 crore reported in Q1 FY27.

At the same time, the sequential profit comparison needs to be viewed with the change in other income. Revenue from operations increased quarter on quarter, but other income declined substantially, bringing total income and profit below Q1 levels. The operating margin also returned to 11.1%, the same level reported in Q2 FY26.

For investors, the available figures distinguish between growth in core revenue from operations and changes in non-operating or other income. The reported ₹20.53 crore first-half net profit provides the latest disclosed cumulative earnings measure, while the String Metaverse share disposal is a separate post-quarter development.

Conclusion

Spacenet reported higher Q2 FY27 revenue and net profit than in the corresponding quarter last year, with consolidated revenue at ₹53.71 crore and net profit at ₹6.76 crore. The sequential decline in profit was linked to lower other income, despite an increase in revenue from operations over Q1 FY27.

The next reported financial update will indicate whether revenue growth continues and how other income develops after the June quarter. Investors can also monitor subsequent disclosures on the November 12 String Metaverse share sale, including any stated impact on Spacenet's financial position or future results.