Published: October 27, 2026
StartupFeed Quick Take
- Net profit rose 62% year-on-year to Rs 17.8 crore in Q2 FY27, but slipped 28% from the June quarter.
- Revenue from operations grew 18.2% to Rs 211.2 crore; the sequential profit dip came from a higher tax charge, not from the business.
- LEAP India has guided for more than 20% revenue growth in FY27, with its strongest quarters still ahead.
Mumbai-based LEAP India reported a net profit of Rs 17.8 crore for the September quarter, up 62% from about Rs 11 crore a year earlier.
The jump looks smaller next to the June quarter. Profit then was Rs 24.7 crore, so it fell 28% in three months.
The numbers behind LEAP India’s second quarter
LEAP India’s exchange filing shows revenue from operations rose 18.2% to Rs 211.2 crore, from Rs 178.7 crore a year earlier. Against the June quarter, the top line was almost flat, up just 3.8%.
So why did profit fall while revenue held up? Tax did most of the damage.
Pre-tax profit was Rs 30.7 crore, by StartupFeed’s own count. That is close to the Rs 33 crore LEAP India booked in the June quarter. The tax charge rose to about Rs 12.9 crore from Rs 8.3 crore.
This is only LEAP India’s second set of results since it listed on August 14. Its shares were issued at Rs 159.
LEAP India rents out pallets, crates and other supply chain gear to firms like Coca-Cola, Marico and Panasonic. Its IPO prospectus puts its share of India’s pallet pooling market at about 90%.
For the full year to March 2026, LEAP India made a net profit of Rs 62.3 crore. That was up 66%.
What this means for you: If you hold LEAP India shares or track the newly listed stock, read the 28% sequential drop as a tax effect, not a business slowdown. Its next two quarters are seasonally the busiest, so watch whether revenue growth picks up from this quarter’s flat sequential trend.
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Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
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