EL7.AI
StocksMedium•30 October 2026•
3 min read

Indegene revenue jumps 39.5% to 11,223 million rupees in second quarter

Key Facts

1Revenue from operations was 11,223 million rupees, up 39.5% year over year in the quarter ended September 30, 2026.
2Revenue was $117.5 million, up 27.5% year over year, and rose 5.6% in rupees quarter over quarter.
3EBITDA was about 1,873 million rupees, up 32% year over year, with a 16.7% margin.
4Net profit after tax was 1,123 million rupees, up 10% year over year, with a 10% margin.
5The number of customers with annual revenue above $1 million reached 59, including 13 with revenue above $10 million each.

Indegene reported revenue from operations of 11,223 million rupees, or $117.5 million, for the quarter ended September 30, 2026, up 39.5% year over year in rupees and 27.5% in dollars, according to a company statement. Revenue rose 5.6% in rupees from the previous quarter, adding sequential progress to the annual growth. The difference between the rupee and dollar growth rates shows how currency changes the pace of expansion when measured in dollars. EBITDA was about 1,873 million rupees, up 32% from the year-earlier period, with a margin of 16.7%. Net profit after tax was 1,123 million rupees, up 10% year over year, with a 10% margin.

EBITDA growth was slower than revenue growth, while its margin fell to 16.7% from 17.6% a year earlier and 16.9% in the quarter ended June 30, 2026. The company said the margin remained close to the previous quarter's level despite the annual wage increase. The gap between revenue growth and net profit growth, which was 10% year over year, therefore widened, according to the reported figures. The results put profitability alongside business expansion: revenue and EBITDA rose, but the EBITDA margin remained below its levels in both comparison periods. The company did not attribute margin pressure to lower investment returns; it linked the margin's stability to absorbing the annual wage increase.

The customer base with significant revenue expanded during the quarter, with the number of customers generating more than $1 million in annual revenue rising by five sequentially to 59. Of these, 13 customers generated more than $10 million in annual revenue. The chief executive said the company had won significant deals in generative AI-led transformation and upstream engagements. This comes as Indegene operates as a strategic operating partner to the global life sciences industry, providing commercial, medical, research and development, and safety operations across product lifecycles. The company links the expansion of major accounts and the increase in high-revenue customers to business momentum during the quarter.

The chief financial officer said the wage increase was now fully reflected in the cost base and that the company expects EBITDA to grow faster than revenue in coming quarters. He added that higher investment returns later, alongside lower amortization, could support net profit margin expansion at a faster pace than EBITDA margin expansion. The chief executive expects revenue growth and margin expansion to coincide in the second half, without specifying a numerical fourth-quarter target in the press release. Management said new deals include generative AI-led transformation and upstream engagements, while the wage increase is now fully incorporated into the cost base. In market data published on October 29, Indegene shares fell 0.71% during the session to 594.70 rupees on the NSE.