Ent.Network Q2 FY27 Results (NSE: ENIL)

3 Nov 2026 · Analysis by Alpha Inflection

Signal: Loss widened

The read

The standalone trajectory remains weak: Q2FY27 revenue fell 16.1% YoY to ₹11,365.00 lakh after Q1FY27 revenue declined 2.8% YoY, while the company stayed loss-making at ₹388.10 lakh versus ₹357.14 lakh last year; the sequential loss narrowed from ₹450.27 lakh, but this improvement was supported by ₹750.54 lakh of other income and a ₹130.53 lakh tax benefit rather than disclosed operating-margin expansion.

P&L walk

Standalone revenue declined 16.1% YoY to ₹11,365.00 lakh and the net loss widened 8.7% to ₹388.10 lakh; lower employee, production and other expenses were insufficient to absorb the revenue contraction, while ₹750.54 lakh of other income and a ₹130.53 lakh tax benefit partly supported reported PAT.

Key positives

• Standalone employee benefit expense declined 12.2% YoY to ₹3,193.64 lakh and other expenses declined 25.7% YoY to ₹2,365.64 lakh, showing cost reduction in response to weaker revenue.
• Finance cost declined 9.9% YoY to ₹295.89 lakh, while the quarterly loss narrowed 13.8% sequentially from ₹450.27 lakh to ₹388.10 lakh.
• Basic EPS of ₹(0.81) broadly tracked the 8.7% YoY PAT deterioration, with no material dilution signal from the reported figures.

Key concerns

• Revenue from operations declined 16.1% YoY to ₹11,365.00 lakh, reversing the 24.3% YoY growth reported in Q2FY26 in the prior-results series.
• The company remained loss-making, with net loss widening 8.7% YoY to ₹388.10 lakh despite total expenses falling 14.6% YoY.
• Operating cash flow was negative at ₹2,911.37 lakh in H1FY27 versus negative ₹1,511.24 lakh in H1FY26, materially weaker than the H1 net loss of ₹838.37 lakh.
• The filing does not disclose EBITDA, operating margin, revenue mix, volumes, digital KPIs or segment results, limiting confirmation of the business-level drivers behind the earnings movement.

View original filing

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