Smartworks reports second quarter profit as revenue climbs 39%
Managed workspace provider Smartworks returned to profitability in the September quarter, reporting a net profit of ₹25.6 crore compared to a loss in the previous year.
Smartworks has reported a consolidated net profit of ₹25.6 crore for the second quarter of the 2027 fiscal year, marking a shift from the ₹3.1 crore loss recorded during the same period last year. Sequentially, the company's profit rose by 95% from ₹13.1 crore in the preceding quarter.
Operating revenue reached ₹591.4 crore, representing a 39.2% increase from ₹424.8 crore in the year-ago period. When compared to the previous quarter, revenue grew by 8.3%. The company noted that revenue growth outpaced the rise in total expenses, which increased by 28.1% to ₹570.4 crore, allowing the company to post a pre-tax profit of ₹34.9 crore.
Smartworks operates in the flexible workspace market by developing and licensing fully serviced office environments. The business model also encompasses design, fit-out, and management services. Total income for the quarter reached ₹605.3 crore, accounting for a decrease in other income compared to the previous year.