Tiger Logistics (India) Limited reported a softer third quarter for FY26, as moderating global freight rates and geopolitical disruptions weighed on revenue, despite strong growth in shipment volumes.
The international logistics firm posted Q3FY26 revenue of ₹13,902 lakh, down 17.6% quarter-on-quarter and 13.4% year-on-year. The company attributed the decline primarily to external factors including US tariff pressures, easing freight rates and instability across key trade corridors amid tensions in the Middle East, including the US–Iran situation.
However, underlying demand remained resilient. TEU volumes grew 52% year-on-year in Q3 and 32% during the first nine months of FY26, suggesting that revenue softness was largely rate-driven rather than volume-led.
Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹757 lakh in Q3, with margins narrowing to 5.4% from 6.6% in the previous quarter. Profit after tax (PAT) came in at ₹594 lakh, down 31% sequentially, while margins stood at 4.3%.
For the nine-month period ended 31 December 2025, revenue totalled ₹41,027 lakh, broadly stable compared with the previous year despite global volatility. Notably, nine-month EBITDA rose 3.6% year-on-year to ₹2,461 lakh, with margins improving to 6.0% from 5.6%, reflecting tighter cost controls and operational efficiencies.
Chairman and Managing Director Harpreet Singh Malhotra said the company remained confident in its long-term prospects, citing structural improvements in India’s logistics ecosystem and the strength of its asset-light business model.
While finance costs edged higher due to increased working capital utilisation to support volume growth, the company said it continues to manage its balance sheet prudently.
Tiger Logistics added that its diversified trade portfolio positions it to navigate near-term volatility and pursue sustainable, profitable growth.
