WeWork India's Q2 net profit tanks 96 pc to Rs 6.4 crore, revenue up 22 pc

Mumbai, Nov 10 (IANS) WeWork India on Monday reported a sharp 96 per cent year-on-year (YoY) decline in consolidated profit after tax (PAT) to Rs 6.4 crore for the second quarter of FY26, compared to Rs 203.7 crore in the same period last fiscal (Q2 FY25).

The steep drop in profitability came despite steady revenue growth, indicating higher expenses or one-off costs impacting margins during the quarter. Revenue from operations rose 22.4 per cent YoY to Rs 574.7 crore from Rs 469.5 crore in Q2 FY25, the company said in a regulatory filing.

The premium flexible workspace operator’s total expenses for the quarter under review stood at Rs 579 crore, up nearly 9 per cent YoY from Rs 530.3 crore in the corresponding quarter a year ago.

“Our Q2 results signify a defining moment in WeWork India’s journey. With record revenue, expanding margins, and our first IndAS PAT-positive quarter, we’ve demonstrated that flexibility and profitability can coexist at scale. This quarter reflects strong improvement in operating leverage and profitability, with IGAAP EBITDA up 45 per cent QoQ and ROCE strengthening to 22.2 per cent," said Karan Virwani, Chief Executive Officer and Managing Director.

"We’re evolving beyond physical spaces into a full-stack ecosystem of workspace solutions, services, and technology. WeWork India is creating sustainable environments that empower organisations and impact communities to do their best work. We’re not just growing faster; we’re growing smarter, driving record revenues and expanding margins while delivering long-term value," he added.

During the quarter and six months ended September 30, 2025, the company has granted 561,324 and 575,561 employee stock options, respectively, to eligible employees under the Employee Stock Option Plan 2018 (ESOP 2018), the exchange filing said.

Meanwhile, the company's shares were trading in negative territory during the intra-day trade on Monday due to subdued Q2 earnings. At around 3:14 pm, the stock was trading at Rs 626.30, down 0.89 per cent.

--IANS

aps/na