Shares of Glottis Ltd., a logistics and freight-forwarding company, opened 5% lower on Monday, November 17, after the company reported its September-quarter earnings over the weekend.

The company posted Q2 FY26 revenue from operations of ₹214.7 crore, down 25.2% year-on-year from ₹287 crore in the base quarter. The topline decline was driven by softer demand and price normalisation across the freight industry.

However, revenue improved sharply on a sequential basis, rising 27.7% over Q1 FY26, aided by better realisations across key routes. Sea import continued to be the company's mainstay, contributing nearly 81% of quarterly revenue and remaining the cornerstone of operations.

Net profit for the quarter fell 39.9% to ₹12.4 crore, compared to ₹20.6 crore a year ago.

Q2 FY26 EBITDA came

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