July 23, 2026: Indian companies reported a mixed set of Q1 FY27 earnings, with IndiGo reporting a sharp turnaround to a loss, while Cipla and Coromandel International posted declines in quarterly profit. On the other hand, PVR INOX and Mahindra Lifespace Developers returned to profit, while several stocks reacted sharply to their earnings announcements.
InterGlobe Aviation (IndiGo) reported a standalone net loss of ₹381.9 crore in Q1 FY27, compared with a profit of ₹2,161.1 crore in Q1 FY26. On a consolidated basis, the airline reported a loss of ₹238 crore. Revenue from operations rose 19.9% year-on-year to ₹24,584.1 crore, while passenger traffic increased 0.7% to 31.3 million. The company attributed the pressure on profitability to higher fuel costs, rupee depreciation and operational challenges affecting travel between India and West Asia.
Cipla reported a 34% year-on-year decline in Q1 FY27 profit after tax to ₹862 crore. The company reported global revenue of ₹7,119 crore, with its India business growing 12% year-on-year and US revenue reaching $162 million.
Coromandel International reported standalone PAT of ₹376.96 crore in Q1 FY27, down from ₹508.23 crore in the year-ago quarter. The company also approved the conversion of a loan of approximately ₹108 crore to equity in its wholly owned subsidiary, Coromandel Chemicals.
PVR INOX returned to profitability, reporting a Q1 FY27 profit of ₹56 crore, supported by stronger revenue and box-office collections.
Mahindra Lifespace Developers reported a standalone profit of ₹90.13 crore, compared with a loss of ₹33.82 crore in Q1 FY26. Consolidated sales grew 70% year-on-year to ₹966 crore, while residential pre-sales increased 106% to ₹925 crore. The stock gained around 8% following the results.
Gandhar Oil Refinery reported a sharp rise in standalone PAT to ₹178.82 crore from ₹26.22 crore a year earlier. The company also declared an interim dividend of ₹2 per share, while its stock surged 20% to hit a fresh 52-week high.
Capital SFB reported a 29% year-on-year increase in Q1 FY27 PAT to ₹41.3 crore, while advances grew 22% to ₹9,074 crore and deposits rose 16.3% to ₹10,596 crore.
In the broader market, the Sensex closed 363.66 points, or 0.47%, lower at 76,391.39, while the Nifty 50 declined 126.65 points, or 0.53%, to 23,869.60. Eternal, NTPC Green and Gandhar Oil were among the notable gainers, while Dr Reddy’s Laboratories, IndusInd Bank, Nestle India, Adani Green Energy, HPCL and SRF faced selling pressure.
