US Tariffs & Middle East Tensions Hit Q3 Revenue, This Logistics Stock Feels The Heat; Do You Own?

The global logistics company Tiger Logistics (India) Limited, which is listed on the BSE, has released its financial results for the third quarter and nine months of FY26, which ended on December 31, 2025.

The company's revenue for the third quarter of FY26 was Rs 139.03 crore, down 17.6% from Q2 FY26's sales of Rs 168.73 crore. Revenue fell 13.4% YoY from Rs 160.47 crore in Q3 FY25. Revenue for the nine-month period was Rs 410.27 crore, a 2.7% YoY decline and somewhat less than Rs 421.80 crore in 9M FY25. Revenue for FY25 as a whole was Rs 536.31 crore.

In Q3 FY26, EBITDA was Rs 7.57 crore, a 32.0% sequential fall from Q2 FY26's EBITDA of Rs 11.14 crore. EBITDA dropped 22.6% YoY from Rs 9.78 crore in Q3 FY25. On a nine-month basis, however, EBITDA climbed 3.6% to Rs 24.61 crore from Rs 23.75 crore in 9M FY25. For FY25, EBITDA was Rs 30.94 crore.

In Q3 FY26, the EBITDA margin was 5.4%, down 115 basis points from Q2 FY26's 6.6% and Q3 FY25's 6.1%, down 294 basis points. The EBITDA margin for 9M FY26 improved somewhat to 6.0% from 5.6% for 9M FY25. The FY25 EBITDA margin for the entire year was 5.8%. In Q3 FY26, EBIT was Rs 9.29 crore, down 28.1% QoQ from Q2 FY26's Rs 12.93 crore and 24.1% YoY from Q3 FY25's Rs 12.23 crore. EBIT for FY25 was Rs 38.93 crore, and for the nine-month period, it was Rs 29.36 crore, which was somewhat less than Rs 29.61 crore in 9M FY25.

In Q3 FY26, the EBIT margin was 6.7%, down from 7.7% in Q2 FY26 and 7.6% in Q3 FY25. While FY25's EBIT margin was 7.3%, 9M FY26's EBIT margin climbed to 7.2% from 7.0%. Profit After Tax (PAT) for Q3 FY26 was Rs 5.94 crore, a 31.1% drop from Q2 FY26's Rs 8.62 crore and a 29.5% YoY drop from Q3 FY25's Rs 8.42 crore. PAT plummeted 6.4% to Rs 19.26 crore for the nine months that wrapped up in FY26 from Rs 20.59 crore for the nine months that ended in FY25. FY25 PAT was Rs 27.02 crore for the entire year.

In Q3 FY26, the PAT margin was 4.3%, while in Q2 FY26 and Q3 FY25, it was 5.1% and 5.2%, respectively. The 9M FY26 PAT margin was 4.7%, which was somewhat less than the FY25 PAT margin of 4.9% (5.0%). In Q3 of FY26, earnings per share (EPS) were Rs 0.58, down from Rs 0.83 in Q2 of FY26 and Rs 0.81 in Q3 of FY25. While FY25 EPS was Rs 2.56, EPS for the nine-month period was Rs 1.88, compared to Rs 2.00 in 9M FY25.

"Q3 FY26 revenue was impacted by external factors, including US tariffs, moderation in global freight rates, and geopolitical developments in the Middle East, including the US-Iran situation. Volatility across key trade corridors led to freight rate fluctuations and route adjustments. As freight rates normalized from earlier elevated levels, realizations softened despite strong TEU volume growth of 52% YoY in Q3 and 32% YoY in 9M FY26," said Tiger Logistics in a statement.

"Looking ahead, we remain confident in our long-term prospects. Structural improvements in India's logistics ecosystem, combined with our asset-light model and diversified trade portfolio, position us well to navigate market dynamics and deliver sustainable, profitable growth. We remain committed to creating long-term value for our shareholders while strengthening our business fundamentals and scaling efficiently," Mr. Harpreet Singh Malhotra, Chairman & MD of Tiger Logistics (India) Limited, said.

Tiger Logistics India Limited is a top international logistics firm and solutions provider that is listed on the Bombay Stock Exchange. Its services include customs clearance, defense and project logistics, air and ocean freight forwarding, and transportation.