Are Tiger Logistics (India) Ltd latest results good or bad?

Tiger Logistics (India) Ltd's latest financial results for Q3 FY26 indicate several operational challenges. The company reported net sales of ₹139.02 crore, reflecting a sequential decline of 13.37% from the previous quarter, which is particularly concerning as Q3 is typically a stronger period for logistics companies. This decline in revenue was accompanied by a significant drop in net profit, which fell to ₹5.94 crore, representing a 29.5% decrease compared to the prior quarter. The operating margin also contracted to 5.45%, marking the lowest level in recent quarters and highlighting potential pricing pressures or operational inefficiencies. The profit before tax, excluding other income, decreased by 32.02% to ₹5.86 crore, further emphasizing the difficulties faced in maintaining profitability amidst declining sales. Despite these challenges, Tiger Logistics maintains a strong return on equity of 34.49%, indicating efficient capital deployment relative to shareholder equity. The company's balance sheet remains robust, characterized by minimal leverage and no promoter pledging, which provides some financial stability amid operational pressures. Overall, the financial performance of Tiger Logistics in this quarter reflects a significant setback, with multiple metrics showing deterioration. The company saw an adjustment in its evaluation, reflecting the current operational landscape and the need for strategic initiatives to address these challenges.