Smartworks Reports ₹13 Crore Profit in Q1, Revenue Jumps 44% YoY

Coworking space provider Smartworks reported a consolidated net profit of ₹13.1 crore for the first quarter of fiscal year 2027. This marks a significant turnaround from a loss of ₹4.2 crore in the same quarter last year, although profit declined 21% from the previous quarter's ₹16.6 crore.

Operating revenue for the period saw a substantial increase of 44%, reaching ₹546.2 crore. This compares to ₹379.2 crore in the corresponding quarter of the previous fiscal year. Sequentially, revenue grew by 5.1% from ₹519.7 crore.

Including other income of ₹13.4 crore, the company's total income for the quarter stood at ₹559.7 crore. Total expenses also rose to ₹542.1 crore, a 37.7% increase from ₹393.6 crore in the first quarter of FY26.