IGI Q2 results showed consolidated profit after tax rising 43.14% to Rs 185.8 crore in the second quarter of FY27. International Gemological Institute announced the figures on October 21, 2026, with management citing healthy demand and strong operational execution.
Key Takeaways
- Consolidated profit grew faster than revenue, which increased 31% year on year.
- Management cited rising adoption of lab-grown diamonds while retaining a focus on natural diamonds and gemstones.
- The seasonal outlook was positive, but management’s comments did not include a numerical forecast.
Table of Contents
- IGI Q2 results show profit outpacing revenue
- Certification spans natural and lab-grown stones
- Festive and holiday demand frame the outlook
- Conclusion
IGI Q2 results show profit outpacing revenue
Revenue from operations reached Rs 398 crore, compared with Rs 303.7 crore in the corresponding quarter of the previous fiscal year. Consolidated profit after tax rose from Rs 129.8 crore.
The faster increase in profit lifted the calculated profit-after-tax margin to approximately 46.7%, from 42.7% a year earlier. That represents an improvement of about four percentage points, although the disclosed figures do not provide a detailed breakdown of the drivers.
| Item | Details |
|---|---|
| Revenue from operations | Q2 FY27: Rs 398 crore; year-earlier quarter: Rs 303.7 crore. |
| Consolidated profit after tax | Q2 FY27: Rs 185.8 crore; year-earlier quarter: Rs 129.8 crore. |
| Calculated profit-after-tax margin | Q2 FY27: approximately 46.7%; year-earlier quarter: approximately 42.7%. |
Certification spans natural and lab-grown stones
Managing Director and CEO Tehmasp Printer described IGI as category-neutral, certifying natural diamonds, lab-grown diamonds, jewellery and coloured gemstones. He said lab-grown diamonds were seeing higher adoption, while natural diamonds and gemstones remained a key growth lever.
IGI’s jewelry certification process includes screening gemstones to identify naturally mined, laboratory-grown or simulant origin. Its service description also explains that treatments are noted and that assessments of mounted stones depend on what the setting permits. This helps explain the company’s role across different jewellery categories, rather than establishing which category drove quarterly growth.
Festive and holiday demand frame the outlook
Printer said retailers and manufacturers were positioning for higher demand as India entered its peak festive season and the US holiday ordering cycle gathered pace. He described trends across the company’s business segments as encouraging.
Those comments describe management’s demand outlook, not completed seasonal sales. They did not specify an expected revenue growth rate or profit target for the coming quarter.
Conclusion
The next test for IGI will be whether the Indian festive season and US holiday ordering cycle translate management’s encouraging demand signals into further revenue and profit growth.
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