Home › Quarterly results › Q2 FY26
Q2 FY26 quarterly results (July-September 2025)
5,073 companies have declared Q2 FY26 results so far, the latest on 14 Sep 2026.
Across the 4,407 non-financial companies with a year-ago quarter to compare, sales grew +12.8% and net profit +57.5% year on year, and the combined operating margin widened 96 bps to 14.3%.
For the 146 banks and lenders, net interest income grew +6.3% and net profit +7.3%.
54% of companies grew net profit; 337 turned a loss into a profit; 34% beat their own profit trend and 50% fell short of it.
5073 declared
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The next results season has started: 43 companies have filed results for the quarter ended 30 Sep 2026.
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Sales growth
+12.8%
YoY, 4407 companies combined; median +8.4%
Net profit growth
+57.5%
YoY combined; median +9.4%
Operating margin
14.3%
+96 bps YoY
Grew profit
54%
337 turnarounds, 405 into loss
Vs own profit trend
34% / 50%
above / below, 16% in line
Banks: NII growth
+6.3%
146 lenders; profit +7.3%
Price since results
-5.6%
median; 0% of 1 stocks up
Other-income heavy
1339
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1339 matching results 1339
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M Cap ₹1,088 Cr
P/E 10.4
PEG —
Profit +118% above its own trend Operating margin expanded 379 bps YoY 42% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +621%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.2% +79.5%
249 139 220 Operating profit
+46.5% from loss 41.5 -5.9 28.4 OPM %
+379 bps +2094 bps
16.7% -4.2% 12.9% Other income
+0.8% -11.5%
9.2 10.4 9.2 Net profit?
+102.2% from loss 16.3 -16.2 8.0 PAT margin %
+288 bps +1825 bps
6.5% -11.7% 3.7% EPS (₹)
+102.1% from loss 7.84 -7.82 3.88
Quality of profit
Pre-tax profit ₹21.8 Cr: core business ₹12.5 Cr, other income ₹9.2 Cr.
Core profit YoY: +620.7%
· reported profit +102.2%
Cash & debt
FY25 cash from operations ₹73.0 Cr:
90% of FY25 net profit of ₹81.2 Cr.
Borrowings ₹514 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹233 ₹249
+6.7% above Net profit ₹7.5 ₹16.3
+117.7% above
M Cap ₹1,084 Cr
P/E 16.9
PEG 0.11
40% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+40.5% -3.3%
151 156 107 Operating profit
+30.4% +30.4%
9.0 6.9 6.9 OPM %
-46 bps +154 bps
6.0% 4.4% 6.4% Other income
+177.9% -19.9%
5.0 6.2 1.8 Net profit?
+41.6% -10.4%
10.0 11.2 7.1 PAT margin %
+5 bps -52 bps
6.6% 7.1% 6.6% EPS (₹)
-4.8% -14.8%
0.08 0.09 0.08
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹6.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +22.5%
· reported profit +41.6%
Cash & debt
FY25 cash from operations −₹177 Cr:
-497% of FY25 net profit of ₹35.6 Cr.
Borrowings ₹1,996 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹166 ₹151
-9.0% below Net profit ₹10.7 ₹10.0
-6.8% in line
M Cap ₹1,081 Cr
P/E 41.1
PEG —
Profit -61% below its own trend Operating margin contracted 699 bps YoY 96% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -98%) FY25 operating cash flow was only 38% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-11.5% -13.9%
110 128 125 Operating profit
-56.4% -68.8%
7.5 24.1 17.2 OPM %
-699 bps -1199 bps
6.8% 18.8% 13.8% Other income
-51.1% +81.3%
7.2 3.9 14.6 Net profit?
-49.9% from loss 10.5 -101 21.0 PAT margin %
-729 bps +8826 bps
9.5% -78.7% 16.8% EPS (₹)
-57.6% from loss 0.28 -2.63 0.66
Quality of profit
Pre-tax profit ₹7.4 Cr: core business ₹0.3 Cr, other income ₹7.2 Cr.
Core profit YoY: -97.6%
· reported profit -49.9%
Cash & debt
FY25 cash from operations ₹27.0 Cr:
38% of FY25 net profit of ₹70.5 Cr.
Borrowings ₹142 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹157 ₹110
-29.7% below Net profit ₹26.8 ₹10.5
-60.7% below
M Cap ₹1,078 Cr
P/E 26.5
PEG —
Profit +57% above its own trend Operating margin contracted 351 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹9.5 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-11.9% +1.6%
198 195 225 Operating profit
-42.4% -9.8%
13.1 14.6 22.8 OPM %
-351 bps -84 bps
6.6% 7.5% 10.1% Other income
-28.8% -64.2%
9.8 27.4 13.8 Net profit?
+56.7% -30.0%
13.2 18.8 8.4 PAT margin %
+291 bps -301 bps
6.6% 9.6% 3.7% EPS (₹)
+56.2% -29.8%
1.39 1.98 0.89
Quality of profit
Pre-tax profit ₹18.2 Cr: core business −₹1.0 Cr, other income ₹9.8 Cr, exceptional & other items ₹9.5 Cr.
Core profit YoY: to loss
· reported profit +56.7%
Cash & debt
FY25 cash from operations ₹143 Cr:
217% of FY25 net profit of ₹65.8 Cr.
Borrowings ₹120 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹173 ₹198
+14.3% above Net profit ₹8.4 ₹13.2
+57.2% above
M Cap ₹1,075 Cr
P/E 41.0
PEG 1.14
Profit +214% above its own trend All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+38.0% +23.2%
251 204 182 Operating profit
+37.5% -60.7%
11.0 28.0 8.0 OPM %
-1 bps -936 bps
4.4% 13.7% 4.4% Other income
+27.3% +600.0%
14.0 2.0 11.0 Net profit?
+262.0% -49.9%
8.3 16.5 2.3 PAT margin %
+205 bps -481 bps
3.3% 8.1% 1.3% EPS (₹)
+100.0% -63.6%
0.04 0.11 0.02
Quality of profit
Pre-tax profit ₹10.8 Cr: core business −₹2.0 Cr, other income ₹14.0 Cr, exceptional & other items −₹1.2 Cr.
Core profit YoY: loss narrowed
· reported profit +262.0%
Cash & debt
FY25 cash from operations −₹133 Cr:
-535% of FY25 net profit of ₹24.8 Cr.
Borrowings ₹358 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹194 ₹251
+29.1% above Net profit ₹2.6 ₹8.3
+213.9% above
M Cap ₹1,066 Cr
P/E 35.6
PEG 0.94
Operating margin expanded 656 bps YoY 36% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.1% +3.8%
68.9 66.4 74.2 Operating profit
+232.3% +59.8%
6.3 3.9 1.9 OPM %
+656 bps +319 bps
9.1% 5.9% 2.5% Other income
+26.7% -90.4%
1.5 15.8 1.2 Net profit?
+361.3% -77.7%
2.9 12.8 0.6 PAT margin %
+331 bps -1514 bps
4.2% 19.3% 0.8% EPS (₹)
+400.0% -78.3%
0.05 0.23 0.01
Quality of profit
Pre-tax profit ₹4.2 Cr: core business ₹2.7 Cr, other income ₹1.5 Cr.
Core profit YoY: from loss
· reported profit +361.3%
Cash & debt
FY25 cash from operations ₹10.0 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.1 ₹68.9
-0.2% in line
Profit -46% below its own trend Operating margin expanded 869 bps YoY 81% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— —
10.9 0.5 0.8 Operating profit
— —
10.8 0.5 0.7 OPM %
+869 bps +1548 bps
98.8% 83.3% 90.1% Other income
-67.5% -23.8%
40.7 53.3 125 Net profit?
-62.0% -9.4%
47.4 52.4 125 EPS (₹)
-62.0% -9.4%
46.06 50.85 121.06
Quality of profit
Pre-tax profit ₹50.1 Cr: core business ₹9.5 Cr, other income ₹40.7 Cr.
Core profit YoY: from loss
· reported profit -62.0%
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹226 Cr.
Borrowings ₹59.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.8 ₹10.9
+999.0% above Net profit ₹87.8 ₹47.4
-46.0% below
M Cap ₹1,057 Cr
P/E 6.4
PEG —
Profit +999% above its own trend Operating margin contracted 111 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— +887.1%
2,818 285 250 Operating profit
+908.4% +932.4%
267 25.9 26.5 OPM %
-111 bps +42 bps
9.5% 9.1% 10.6% Other income
+505.9% +570.9%
55.3 8.2 9.1 Net profit?
+945.4% +802.0%
126 13.9 12.0 PAT margin %
-35 bps -42 bps
4.5% 4.9% 4.8% EPS (₹)
+4.8% -9.7%
3.06 3.39 2.92
Quality of profit
Pre-tax profit ₹190 Cr: core business ₹134 Cr, other income ₹55.3 Cr.
Core profit YoY: —
· reported profit +945.4%
Cash & debt
FY25 cash from operations ₹94.0 Cr:
207% of FY25 net profit of ₹45.5 Cr.
Borrowings ₹152 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹299 ₹2,818
+841.0% above Net profit ₹6.0 ₹126
+999.0% above
M Cap ₹1,056 Cr
P/E 20.4
PEG 6.80
Turnaround: profit against a loss a year ago Operating margin expanded 280 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+19.5% -7.7%
238 258 200 Operating profit
+188.6% -26.3%
11.4 15.5 4.0 OPM %
+280 bps -121 bps
4.8% 6.0% 2.0% Other income
— +196.6%
8.8 3.0 0.7 Net profit
from loss +30.4%
11.9 9.1 -1.7 PAT margin %
+582 bps +146 bps
5.0% 3.5% -0.8% EPS (₹)
from loss +30.6%
3.80 2.91 -0.53
Quality of profit
Pre-tax profit ₹15.6 Cr: core business ₹6.8 Cr, other income ₹8.8 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹50.0 Cr:
1292% of FY25 net profit of ₹3.9 Cr.
Borrowings ₹73.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹260 ₹238
-8.4% below
M Cap ₹1,052 Cr
P/E 14.0
PEG 1.08
Profit -23% below its own trend Operating margin contracted 262 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.8% +74.1%
320 184 297 Operating profit
-21.7% +82.6%
22.3 12.2 28.5 OPM %
-262 bps +32 bps
7.0% 6.7% 9.6% Other income
+31.3% +6.5%
5.7 5.3 4.3 Net profit?
-21.4% +162.6%
14.5 5.5 18.4 PAT margin %
-168 bps +153 bps
4.5% 3.0% 6.2% EPS (₹)
-21.6% +163.8%
1.82 0.69 2.32
Quality of profit
Pre-tax profit ₹19.6 Cr: core business ₹14.0 Cr, other income ₹5.7 Cr.
Core profit YoY: -29.6%
· reported profit -21.4%
Cash & debt
FY25 cash from operations ₹59.0 Cr:
71% of FY25 net profit of ₹83.3 Cr.
Borrowings ₹238 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹294 ₹320
+9.0% above Net profit ₹18.8 ₹14.5
-23.0% below
M Cap ₹1,046 Cr
P/E 86.2
PEG 21.56
Operating margin expanded 598 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-0.5% -2.3%
12.2 12.5 12.2 Operating profit
loss narrowed loss widened -2.1 -2.0 -2.8 OPM %
+598 bps -128 bps
-17.3% -16.0% -23.2% Other income
-5.5% +1.3%
6.4 6.4 6.8 Net profit?
-2.0% -1.3%
3.1 3.1 3.1 PAT margin %
-37 bps +26 bps
25.1% 24.9% 25.5% EPS (₹)
-1.9% -1.0%
2.03 2.05 2.07
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹2.5 Cr, other income ₹6.4 Cr.
Core profit YoY: loss narrowed
· reported profit -2.0%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-25% of FY25 net profit of ₹12.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.4 ₹12.2
+7.2% above Net profit ₹2.9 ₹3.1
+6.0% in line
M Cap ₹1,037 Cr
P/E 18.7
PEG 1.70
Profit -51% below its own trend Operating margin contracted 135 bps YoY 90% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -85%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+11.8% +19.0%
584 491 522 Operating profit
-14.0% -6.9%
26.4 28.4 30.7 OPM %
-135 bps -126 bps
4.5% 5.8% 5.9% Other income
-7.0% -11.7%
11.3 12.8 12.2 Net profit?
-33.6% -30.2%
13.5 19.3 20.3 PAT margin %
-158 bps -163 bps
2.3% 3.9% 3.9% EPS (₹)
-39.8% -29.1%
1.12 1.58 1.86
Quality of profit
Pre-tax profit ₹12.6 Cr: core business ₹1.3 Cr, other income ₹11.3 Cr.
Core profit YoY: -84.9%
· reported profit -33.6%
Cash & debt
FY25 cash from operations ₹25.0 Cr:
64% of FY25 net profit of ₹39.1 Cr.
Borrowings ₹350 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹575 ₹584
+1.6% in line Net profit ₹27.7 ₹13.5
-51.4% below
M Cap ₹1,034 Cr
P/E 7.3
PEG —
Profit +263% above its own trend Operating margin expanded 740 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.7% -1.2%
457 463 450 Operating profit
+464.2% -12.7%
41.3 47.3 7.3 OPM %
+740 bps -118 bps
9.0% 10.2% 1.6% Other income
+63.0% +77.4%
13.5 7.6 8.3 Net profit?
+625.4% -2.9%
34.2 35.2 4.7 PAT margin %
+644 bps -13 bps
7.5% 7.6% 1.0% EPS (₹)
+632.7% -2.8%
3.81 3.92 0.52
Quality of profit
Pre-tax profit ₹45.2 Cr: core business ₹32.0 Cr, other income ₹13.5 Cr.
Core profit YoY: from loss
· reported profit +625.4%
Cash & debt
FY25 cash from operations ₹207 Cr:
355% of FY25 net profit of ₹58.4 Cr.
Borrowings ₹135 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹467 ₹457
-2.0% in line Net profit ₹9.4 ₹34.2
+262.7% above
M Cap ₹1,029 Cr
P/E 132.1
PEG —
Profit +22% above its own trend Operating margin expanded 267 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-12.0% +2.5%
35.5 34.6 40.3 Operating profit
+12.9% -15.6%
4.3 5.1 3.8 OPM %
+267 bps -258 bps
12.1% 14.6% 9.4% Other income
+15.7% +96.7%
1.2 0.6 1.0 Net profit
+19.1% -8.0%
3.1 3.4 2.6 PAT margin %
+230 bps -100 bps
8.8% 9.8% 6.5% EPS (₹)
+18.9% -7.7%
1.32 1.43 1.11
Quality of profit
Pre-tax profit ₹3.1 Cr: core business ₹2.0 Cr, other income ₹1.2 Cr.
Core profit YoY: +22.6%
· reported profit +19.1%
Cash & debt
FY25 cash from operations ₹22.0 Cr:
529% of FY25 net profit of ₹4.2 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹40.9 ₹35.5
-13.4% below Net profit ₹2.6 ₹3.1
+21.7% above
M Cap ₹1,016 Cr
P/E 70.7
PEG —
Profit -62% below its own trend Operating margin contracted 256 bps YoY 32% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-19.5% -14.9%
112 131 139 Operating profit
-52.2% -19.9%
4.2 5.2 8.8 OPM %
-256 bps -23 bps
3.8% 4.0% 6.3% Other income
-2.6% +184.6%
0.4 0.1 0.4 Net profit
-80.8% -34.2%
0.8 1.2 4.0 PAT margin %
-220 bps -20 bps
0.7% 0.9% 2.9% EPS (₹)
-80.8% -34.4%
0.59 0.90 3.08
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.8 Cr, other income ₹0.4 Cr.
Core profit YoY: -84.3%
· reported profit -80.8%
Cash & debt
FY25 cash from operations −₹17.0 Cr:
-77% of FY25 net profit of ₹22.0 Cr.
Borrowings ₹63.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹112
+3.0% in line Net profit ₹2.0 ₹0.8
-61.6% below
M Cap ₹1,010 Cr
P/E 1.2
PEG 0.03
Profit -54% below its own trend 69% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +138%) FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+137.5% +137.5%
19.0 8.0 8.0 Operating profit
+137.5% +137.5%
19.0 8.0 8.0 OPM %
+0 bps +0 bps
100.0% 100.0% 100.0% Other income
-67.7% -23.2%
43.0 56.0 133 Net profit?
-58.6% -7.9%
58.0 63.0 140 EPS (₹)
-58.8% -8.3%
54.74 59.70 133.00
Quality of profit
Pre-tax profit ₹61.0 Cr: core business ₹19.0 Cr, other income ₹43.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +137.5%
· reported profit -58.6%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
0% of FY25 net profit of ₹296 Cr.
Borrowings ₹27.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.6 ₹19.0
+121.7% above Net profit ₹127 ₹58.0
-54.2% below
M Cap ₹987 Cr
P/E 26.9
PEG —
Profit -23% below its own trend Operating margin contracted 410 bps YoY 36% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.9% +5.7%
440 416 431 Operating profit
-47.9% -9.5%
18.8 20.8 36.1 OPM %
-410 bps -72 bps
4.3% 5.0% 8.4% Other income
+132.1% +4.7%
4.4 4.2 1.9 Net profit
-52.8% -17.1%
8.9 10.8 19.0 PAT margin %
-236 bps -56 bps
2.0% 2.6% 4.4% EPS (₹)
-52.7% -17.0%
0.88 1.06 1.86
Quality of profit
Pre-tax profit ₹12.2 Cr: core business ₹7.8 Cr, other income ₹4.4 Cr.
Core profit YoY: -67.0%
· reported profit -52.8%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-5% of FY25 net profit of ₹65.1 Cr.
Borrowings ₹176 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹431 ₹440
+2.1% in line Net profit ₹11.7 ₹8.9
-23.2% below
Profit +440% above its own trend Operating margin contracted 248 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+21.5% -2.8%
1,110 1,142 914 Operating profit
-0.7% +21.9%
123 101 124 OPM %
-248 bps +225 bps
11.1% 8.8% 13.6% Other income
+30.3% +52.0%
18.2 12.0 14.0 Net profit
+170.0% from loss 8.1 -7.0 3.0 PAT margin %
+40 bps +134 bps
0.7% -0.6% 0.3% EPS (₹)
+216.2% from loss 1.17 -1.07 0.37
Quality of profit
Pre-tax profit ₹12.9 Cr: core business −₹5.3 Cr, other income ₹18.2 Cr.
Core profit YoY: loss narrowed
· reported profit +170.0%
Cash & debt
FY25 cash from operations ₹570 Cr:
13835% of FY25 net profit of ₹4.1 Cr.
Borrowings ₹1,604 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹903 ₹1,110
+22.9% above Net profit ₹1.5 ₹8.1
+440.0% above
M Cap ₹966 Cr
P/E 0.4
PEG 0.02
Turnaround: profit against a loss a year ago Operating margin contracted 3840 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+33.1% +78.1%
137 77.0 103 Operating profit
to loss to loss -24.7 9.0 21.0 OPM %
-3840 bps -2970 bps
-18.0% 11.7% 20.4% Other income
from loss —
200 6.0 -17.0 Net profit?
from loss from loss 159 -1.0 -20.0 EPS (₹)
from loss from loss 8.65 -0.03 -1.07
Quality of profit
Pre-tax profit ₹159 Cr: core business −₹36.9 Cr, other income ₹200 Cr, exceptional & other items −₹4.6 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹277 Cr:
223% of FY25 net profit of ₹124 Cr.
Borrowings ₹3,628 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.4 ₹137
+97.7% above
M Cap ₹956 Cr
P/E 21.6
PEG 0.10
Profit +45% above its own trend Operating margin expanded 1491 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-29.7% -21.6%
139 177 198 Operating profit
+42.2% -1.7%
41.0 41.7 28.8 OPM %
+1491 bps +596 bps
29.5% 23.5% 14.6% Other income
-25.5% -22.5%
9.0 11.6 12.1 Net profit?
+78.1% -24.3%
16.0 21.1 9.0 PAT margin %
+697 bps -42 bps
11.5% 11.9% 4.5% EPS (₹)
+68.8% -28.2%
10.01 13.95 5.93
Quality of profit
Pre-tax profit ₹48.8 Cr: core business −₹12.9 Cr, other income ₹9.0 Cr, exceptional & other items ₹52.6 Cr.
Core profit YoY: to loss
· reported profit +78.1%
Cash & debt
FY25 cash from operations ₹130 Cr:
959% of FY25 net profit of ₹13.6 Cr.
Borrowings ₹628 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹387 ₹139
-64.1% below Net profit ₹11.0 ₹16.0
+44.9% above
M Cap ₹950 Cr
P/E 22.1
PEG —
Profit -67% below its own trend Operating margin contracted 803 bps YoY 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.8% +11.4%
107 96.0 103 Operating profit
-49.8% +64.7%
8.0 4.9 16.0 OPM %
-803 bps +243 bps
7.5% 5.1% 15.5% Other income
+7.5% -26.3%
2.1 2.9 2.0 Net profit?
-68.4% from loss 2.8 -4.2 9.0 PAT margin %
-607 bps +705 bps
2.7% -4.4% 8.7% EPS (₹)
-67.7% from loss 0.32 -0.47 0.99
Quality of profit
Pre-tax profit ₹5.1 Cr: core business ₹3.0 Cr, other income ₹2.1 Cr.
Core profit YoY: -72.9%
· reported profit -68.4%
Cash & debt
FY25 cash from operations ₹120 Cr:
450% of FY25 net profit of ₹26.6 Cr.
Borrowings ₹14.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹109 ₹107
-2.4% in line Net profit ₹8.6 ₹2.8
-67.0% below
M Cap ₹947 Cr
P/E 13.5
PEG 4.51
36% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.5% +4.2%
258 247 221 Operating profit
+17.3% -9.3%
49.9 55.1 42.6 OPM %
+14 bps -288 bps
19.4% 22.3% 19.2% Other income
+20.9% +1.8%
7.2 7.1 5.9 Net profit?
+12.7% -24.8%
17.3 23.0 15.3 PAT margin %
-22 bps -258 bps
6.7% 9.3% 6.9% EPS (₹)
+12.9% -23.3%
4.81 6.27 4.26
Quality of profit
Pre-tax profit ₹20.2 Cr: core business ₹13.0 Cr, other income ₹7.2 Cr.
Core profit YoY: -1.4%
· reported profit +12.7%
Cash & debt
FY25 cash from operations ₹190 Cr:
189% of FY25 net profit of ₹101 Cr.
Borrowings ₹505 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹244 ₹258
+5.5% above Net profit ₹17.1 ₹17.3
+1.0% in line
M Cap ₹945 Cr
P/E 46.2
PEG —
Profit +11% above its own trend Operating margin contracted 169 bps YoY 78% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -23%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+75.3% +14.4%
51.4 44.9 29.3 Operating profit
+60.1% +8.8%
9.1 8.4 5.7 OPM %
-169 bps -91 bps
17.8% 18.7% 19.5% Other income
-34.1% +2.4%
0.8 0.8 1.3 Net profit?
+29.3% +48.6%
5.8 3.9 4.5 PAT margin %
-400 bps +259 bps
11.2% 8.7% 15.3% EPS (₹)
+18.2% +36.8%
0.52 0.38 0.44
Quality of profit
Pre-tax profit ₹12.9 Cr: core business ₹2.9 Cr, other income ₹0.8 Cr, exceptional & other items ₹9.2 Cr.
Core profit YoY: -22.8%
· reported profit +29.3%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
159% of FY25 net profit of ₹17.6 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹47.9 ₹51.4
+7.2% above Net profit ₹5.2 ₹5.8
+11.2% above
Profit -54% below its own trend Operating margin contracted 181 bps YoY 71% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -84%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-19.0% -13.8%
72.0 83.6 88.9 Operating profit
-29.0% -17.7%
9.3 11.3 13.1 OPM %
-181 bps -61 bps
12.9% 13.6% 14.8% Other income
— +30.8%
2.4 1.8 0.1 Net profit
-43.3% -30.2%
2.4 3.4 4.2 PAT margin %
-140 bps -77 bps
3.3% 4.0% 4.7% EPS (₹)
-43.3% -30.0%
1.52 2.17 2.68
Quality of profit
Pre-tax profit ₹3.3 Cr: core business ₹1.0 Cr, other income ₹2.4 Cr.
Core profit YoY: -84.4%
· reported profit -43.3%
Cash & debt
FY25 cash from operations −₹16.0 Cr:
-95% of FY25 net profit of ₹16.9 Cr.
Borrowings ₹156 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹72.0
-29.1% below Net profit ₹5.2 ₹2.4
-54.2% below
M Cap ₹922 Cr
P/E 12.9
PEG —
Profit +636% above its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-4.1% -24.1%
510 672 532 Operating profit
+9.1% -81.5%
12.0 65.0 11.0 OPM %
+29 bps -732 bps
2.4% 9.7% 2.1% Other income
+130.0% +76.9%
23.0 13.0 10.0 Net profit
+550.0% -70.5%
13.0 44.0 2.0 PAT margin %
+217 bps -400 bps
2.5% 6.5% 0.4% EPS (₹)
+700.0% -70.7%
0.80 2.73 0.10
Quality of profit
Pre-tax profit ₹17.0 Cr: core business −₹5.0 Cr, other income ₹23.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
· reported profit +550.0%
Cash & debt
FY25 cash from operations ₹116 Cr:
178% of FY25 net profit of ₹65.0 Cr.
Borrowings ₹1,594 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹640 ₹510
-20.4% below Net profit ₹1.8 ₹13.0
+635.8% above
M Cap ₹921 Cr
P/E 14.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 302 bps YoY 85% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-1.3% -1.6%
1,151 1,170 1,166 Operating profit
+89.9% -0.5%
72.4 72.8 38.1 OPM %
+302 bps +7 bps
6.3% 6.2% 3.3% Other income
-3.8% -21.1%
9.1 11.6 9.5 Net profit?
from loss -11.2%
7.4 8.4 -17.6 PAT margin %
+215 bps -7 bps
0.6% 0.7% -1.5% EPS (₹)
from loss -11.2%
1.58 1.78 -3.72
Quality of profit
Pre-tax profit ₹11.2 Cr: core business ₹1.7 Cr, other income ₹9.1 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹426 Cr.
Borrowings ₹1,716 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,300 ₹1,151
-11.5% below
M Cap ₹880 Cr
P/E 13.5
PEG 0.34
Profit -22% below its own trend 29% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.5% -12.3%
283 323 266 Operating profit
+5.3% -16.1%
17.9 21.4 17.0 OPM %
-7 bps -29 bps
6.3% 6.6% 6.4% Other income
+23.1% +11.7%
4.5 4.0 3.7 Net profit?
-12.8% -19.9%
13.2 16.4 15.1 PAT margin %
-103 bps -44 bps
4.6% 5.1% 5.7% EPS (₹)
-13.0% -19.9%
9.42 11.76 10.83
Quality of profit
Pre-tax profit ₹15.8 Cr: core business ₹11.3 Cr, other income ₹4.5 Cr.
Core profit YoY: -10.7%
· reported profit -12.8%
Cash & debt
FY25 cash from operations −₹32.0 Cr:
-51% of FY25 net profit of ₹62.5 Cr.
Borrowings ₹91.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹318 ₹283
-10.9% below Net profit ₹16.9 ₹13.2
-22.1% below
M Cap ₹868 Cr
P/E 0.9
PEG 0.03
Profit +352% above its own trend Operating margin expanded 323 bps YoY 89% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +266%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+26.7% +14.2%
1,423 1,246 1,123 Operating profit
+72.3% +23.4%
174 141 101 OPM %
+323 bps +91 bps
12.2% 11.3% 9.0% Other income
— —
923 72.0 81.0 Net profit?
+803.2% +561.4%
840 127 93.0 PAT margin %
+5075 bps +4884 bps
59.0% 10.2% 8.3% EPS (₹)
+892.6% +714.3%
191.68 23.54 19.31
Quality of profit
Pre-tax profit ₹1,040 Cr: core business ₹117 Cr, other income ₹923 Cr.
Core profit YoY: +265.6%
· reported profit +803.2%
Cash & debt
FY25 cash from operations ₹511 Cr:
222% of FY25 net profit of ₹230 Cr.
Borrowings ₹717 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,233 ₹1,423
+15.4% above Net profit ₹186 ₹840
+351.6% above
M Cap ₹866 Cr
P/E 141.9
PEG —
Profit -23% below its own trend Operating margin contracted 683 bps YoY 58% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -76%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+22.9% +22.8%
39.7 32.3 32.3 Operating profit
-33.2% -12.2%
3.2 3.7 4.8 OPM %
-683 bps -325 bps
8.1% 11.4% 15.0% Other income
+256.7% +71.0%
1.1 0.6 0.3 Net profit
-49.3% -5.0%
1.3 1.4 2.6 PAT margin %
-482 bps -99 bps
3.4% 4.4% 8.2% EPS (₹)
-57.7% -8.3%
0.11 0.12 0.26
Quality of profit
Pre-tax profit ₹1.8 Cr: core business ₹0.8 Cr, other income ₹1.1 Cr.
Core profit YoY: -76.4%
· reported profit -49.3%
Cash & debt
FY25 cash from operations ₹6.0 Cr:
76% of FY25 net profit of ₹7.9 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹31.3 ₹39.7
+26.6% above Net profit ₹1.7 ₹1.3
-23.1% below
M Cap ₹823 Cr
P/E 11.1
PEG 1.85
Profit +999% above its own trend Operating margin expanded 176 bps YoY 60% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+64.1% +43.2%
245 171 149 Operating profit
+107.2% +42.4%
20.7 14.6 10.0 OPM %
+176 bps -5 bps
8.5% 8.5% 6.7% Other income
+50.0% +184.6%
6.0 2.1 4.0 Net profit?
+588.4% +333.2%
6.9 1.6 1.0 PAT margin %
+214 bps +188 bps
2.8% 0.9% 0.7% EPS (₹)
+185.7% +300.0%
0.20 0.05 0.07
Quality of profit
Pre-tax profit ₹9.3 Cr: core business ₹3.7 Cr, other income ₹6.0 Cr.
Core profit YoY: from loss
· reported profit +588.4%
Cash & debt
FY25 cash from operations −₹112 Cr:
-238% of FY25 net profit of ₹47.1 Cr.
Borrowings ₹453 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹117 ₹245
+108.3% above Net profit ₹0.5 ₹6.9
+999.0% above
How to read this page
The numbers. Each card is one company's Q2 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 20:15 IST
