E2E Networks Revenue Jumps 411% to Rs 223.8 Crore in Q2
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Khushi Jain
- October 16, 2026
E2E Networks reported a 411% year-on-year increase in operating revenue to Rs 223.8 crore in the second quarter of FY27, compared with Rs 43.8 crore in the corresponding quarter last year. The AI-focused cloud infrastructure company also reported a consolidated net profit of Rs 72.7 crore, reversing a net loss of Rs 13.5 crore a year earlier.
On a sequential basis, operating revenue increased 42.7% from Rs 156.8 crore in the preceding quarter, while net profit rose 65.7% from Rs 43.9 crore.
Including other income of Rs 9.9 crore, E2E Networks’ total income stood at Rs 233.7 crore. This compares with Rs 52.1 crore in the September quarter of FY26 and Rs 168.2 crore in the preceding quarter.
Blackwell GPUs and Rs 1,000 Crore Contract Drive Growth
E2E Networks attributed its Q2 growth to contributions from Blackwell GPUs, improved utilisation and higher average realisation across its GPU fleet.
During the quarter, the company signed a multi-year cloud GPU contract worth Rs 1,000 crore with an undisclosed sovereign AI company. The agreement covers NVIDIA Blackwell cloud GPUs and allied services.
Speaking during the earnings call, Managing Director Tarun Dua said the contract runs through June 2029 and covers existing B200 capacity that was previously offered on a pay-as-you-go basis. He added that the company’s existing flagship Blackwell capacity would be fully utilised under the agreement.
Dua also said E2E Networks expects to complete another deployment of 1,024 B200 GPUs during the December quarter. However, the management team declined to provide revenue or capital expenditure guidance.
E2E Networks’ Business and Customer Mix
Founded in 2009 by Tarun Dua, E2E Networks is an AI-focused cloud provider offering GPU computing infrastructure, AI/ML cloud services and managed hosting.
The company positions itself as a domestic alternative to global hyperscalers such as Amazon Web Services (AWS) and Google Cloud for AI workloads. Its offerings include B200, H200 and H100 GPU infrastructure.
Chief Financial Officer Nitin Jain said customers under the IndiaAI Mission accounted for approximately 13-15% of quarterly revenue, while international customers contributed around 20-25%. Management cautioned that these proportions could vary significantly between quarters.
Expenses, EBITDA and AI Investments
E2E Networks’ total expenses increased 93.4% year-on-year to Rs 136.6 crore from Rs 70.6 crore. Sequentially, expenditure rose 24.7% from Rs 109.6 crore.
The company recorded EBITDA of Rs 171.5 crore, with its EBITDA margin increasing to 76.6% from 41.1% in Q2 FY26.
During the earnings call, Dua said the company expects EBITDA margins of 70% or more over the medium to long term.
Dua also said E2E Networks is investing in its AI platforms and retaining some GPU capacity for internal research and product development. During the quarter, the company added a chief revenue officer, a field CTO and a founders’ office team.
E2E Networks Announces Strategic and Board Appointments
Alongside its Q2 disclosures, E2E Networks announced the appointment of Crane Venture Partners’ Managing Director Anandamoy Roychowdhary as a strategic advisor.
The company also appointed Krishnan Mahesh, a nominee of Larsen & Toubro, as an additional non-executive, non-independent director, subject to shareholder approval.
E2E Networks’ Stock Market Listing History
E2E Networks listed on the NSE’s SME platform, NSE Emerge, in 2018 before migrating to the NSE mainboard in 2022.
In June this year, the company took the direct listing route to debut on the BSE mainboard. The listing did not involve a fresh capital raise or the issuance of new shares. Instead, existing shares became tradeable on the BSE.
Shares of E2E Networks ended the day’s trading session 2.41% lower at Rs 693.7 apiece on the BSE.
FAQs
1. How much revenue did E2E Networks report in Q2 FY27?
E2E Networks reported operating revenue of Rs 223.8 crore in Q2 FY27, up 411% from Rs 43.8 crore in the year-ago quarter.
2. What was E2E Networks’ net profit in Q2 FY27?
The company reported a consolidated net profit of Rs 72.7 crore, compared with a net loss of Rs 13.5 crore a year earlier.
3. What is the value of E2E Networks’ new cloud GPU contract?
E2E Networks signed a multi-year cloud GPU contract worth Rs 1,000 crore with an undisclosed sovereign AI company. The contract runs through June 2029.
4. What EBITDA margin did E2E Networks report in Q2 FY27?
The company’s EBITDA margin increased to 76.6% from 41.1% in Q2 FY26.
5. When did E2E Networks list on the BSE mainboard?
E2E Networks debuted on the BSE mainboard in June this year through a direct listing. The transaction involved no fresh capital raise or issuance of new shares.
