Godrej Industries Profit Doubles to ₹559.6 Crore as Tata Motors Posts ₹5,531 Crore Loss

Corporate India’s second-quarter scorecard exposed a brutal divergence between top-line expansion and actual bottom-line cash generation on Friday. Revenue held firm across manufacturing, retail, and healthcare balance sheets. Margins, however, took a beating.

Tata Motors Passenger Vehicles sank straight into the red. The automaker posted a consolidated net loss of ₹5,531 crore for the September quarter of FY27, according to its regulatory filing. That marks a precipitous reversal from the ₹76,170 crore net profit logged in the corresponding period last year. The culprit was non-operational: exceptional charges surged to ₹6,738 crore, up from ₹2,608 crore booked a year earlier.

Yet the session produced clear winners. Godrej Industries stood out as the day’s standout gainer, booking a more than twofold jump in consolidated net profit attributable to owners at ₹559.6 crore, up from ₹242.5 crore in the year-ago quarter. Revenue from operations leaped 45.1% to ₹7,302.98 crore against ₹5,032.14 crore, driven by sharp operational efficiency.

Auto and Healthcare: Top-Line Traps Catch Eicher and Manipal

Eicher Motors delivered top-line gains that failed to appease market benchmarks. Consolidated net profit rose 14.8% year-on-year to ₹1,573.4 crore for the quarter, climbing from ₹1,370 crore. Revenue from operations advanced 20.2% to ₹7,421.72 crore, while operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 16.4% to ₹1,760 crore.

But the numbers missed street expectations across every single core metric.

Consensus poll estimates had pegged Eicher’s net profit at ₹1,605 crore, revenue at ₹7,450 crore, and EBITDA at ₹1,800 crore. The three-way miss checked momentum for the Royal Enfield parent.

Manipal Health Enterprises traced an identical pattern of aggressive expansion offset by margin dilution. Operations expanded rapidly, pushing revenue up 37.3% to ₹3,399 crore from ₹2,475 crore. EBITDA climbed 29.8% to ₹872 crore. Yet net profit dropped 13.2% year-on-year to ₹270 crore against ₹311 crore a year ago, as operating margin contracted 100 basis points to 26%.

Q2 FY27 Corporate Earnings Scorecard

Pharma Slumps While Inox Green Defies Trend

Jubilant Pharmova suffered the day’s most aggressive valuation compression. Consolidated net profit tumbled 74.1% year-on-year to ₹31.2 crore from ₹120.3 crore. While operational revenue grew 20.5% to ₹2,370 crore compared with ₹1,966.4 crore, EBITDA crashed 29.3% to ₹241 crore from ₹341 crore. The company’s EBITDA margin shrank by 720 basis points, crumbling to 10.2% from 17.4%.

Mid-cap enterprise platforms and consumer goods showed parallel strain.

Zaggle Prepaid Ocean Services grew its revenue 34.2% to ₹579.8 crore from ₹432.2 crore, but net profit contracted 30.1% to ₹24.4 crore against ₹34.9 crore. EBITDA shed 5% to ₹41.7 crore, leaving an EBITDA margin of 7.2%.

Relaxo Footwears posted a muted quarter, squeezing out a 2.8% increase in net profit to ₹37 crore on revenue of ₹701.6 crore, up 11.6%. EBITDA rose 5.2% to ₹85.3 crore, but operating margin tightened to 12.2% from 12.9%.

Market Context: The divergence between high single-digit revenue growth and operating margin erosion points to stubborn input costs and sales friction across domestic retail and specialized pharmaceuticals, punishing firms unable to pass on operating overhead.

Inox Green Energy Services proved the sole outlier against this margin squeeze. Consolidated net profit leaped 54.8% to ₹43 crore from ₹28 crore, despite modest top-line growth of 8.2% to ₹89 crore from ₹82 crore. The operational turnaround was sharp: EBITDA surged sevenfold to ₹36.3 crore from ₹4.7 crore, driving EBITDA margin to 40.9% from 5.8%.

Market focus shifts next to forthcoming earnings releases from heavyweights including Grasim Industries, ABB India, Indo-MIM, and Rail Vikas Nigam Limited (RVNL) as desks evaluate whether second-half margins can recover from input cost drags.