Defence-tech company Tonbo Imaging reported a more than 20-fold year-on-year (YoY) increase in revenue from operations in its first quarterly results after listing on the stock exchanges. Tonbo Imaging Q2 results shows that the startup turned profitable, supported by a sharp rise in operating income.

Key Highlights

• Tonbo Imaging Q2 results show revenue from operations surging to Rs 183.3 crore from Rs 8.9 crore year-on-year.
• The defence-tech company reported a net profit of Rs 23.5 crore, reversing its year-ago quarterly loss.

According to its consolidated financial statements sourced from the NSE, Tonbo Imaging's revenue from operations climbed to Rs 183.3 crore in Q2 FY27, compared with Rs 8.9 crore in the corresponding quarter of the previous fiscal year.

The startup’s total income stood at Rs 185.2 crore during the quarter, including Rs 1.9 crore from non-operating income.

Tonbo Imaging Q2 FY27 Revenue Grows Over 20 Times

Tonbo Imaging recorded a significant increase in revenue as its business scaled up during the September quarter. Revenue from operations rose to Rs 183.3 crore from Rs 8.9 crore in Q2 FY26, representing growth of approximately 20.6 times.

On a sequential basis, revenue from operations increased more than fivefold from Rs 36 crore in the preceding quarter.

Founded by Ankit Kumar, Arvind Kondangi Lakshmikumar and Cecilia D'Souza, Tonbo Imaging develops advanced imaging and surveillance technologies for defence and security applications. Its product portfolio includes thermal imaging systems, weapon sights, targeting solutions, missile seekers and fire control systems.

Tonbo Imaging Expenses Rise Alongside Business Expansion

The company's expenses increased as it expanded its operations. Cost of materials consumed accounted for the largest share of expenditure, standing at Rs 120.9 crore during Q2 FY27 and representing more than 78% of total expenses.

Employee benefits expenses remained largely stable at around Rs 12 crore. Depreciation and amortisation expenses stood at Rs 9.8 crore, while finance costs amounted to Rs 4.8 crore.

Overall, total expenses surged more than sevenfold year-on-year to Rs 153.7 crore in Q2 FY27, compared with Rs 21.6 crore in the corresponding quarter last year.

Tonbo Imaging Turns Profitable in Q2 FY27

The sharp increase in operating revenue helped Tonbo Imaging move into profitability during the September quarter.

The company reported a net profit of Rs 23.5 crore in Q2 FY27, compared with a net loss of Rs 9.6 crore in Q2 FY26. This marked a turnaround in its financial performance alongside the substantial growth in revenue.

On a sequential basis, the company had reported a net loss of Rs 17.7 crore in the preceding quarter, according to the figures provided.

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Tonbo Imaging Share Price Hits Upper Circuit

Following the announcement of its quarterly performance, Tonbo Imaging shares rose 20% and hit the upper circuit at Rs 1,530.30 apiece. The stock's rally took the company's market capitalisation to approximately Rs 8,766 crore, reflecting the market's response to its first reported quarterly results after listing.

The company's ability to sustain revenue growth, manage rising operating expenses and maintain profitability will remain important factors to watch in the coming quarters.