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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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 ₹64.0 Cr
P/E 11.8
PEG 0.08
Profit +48% above its own trend Operating margin contracted 108 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
+26.0% +17.9%
122 103 96.7 Operating profit
+8.4% +7.3%
8.1 7.5 7.5 OPM %
-108 bps -66 bps
6.6% 7.3% 7.7% Other income
-45.9% -16.4%
2.5 3.0 4.6 Net profit
+55.4% -50.4%
1.1 2.3 0.7 PAT margin %
+18 bps -130 bps
0.9% 2.2% 0.8% EPS (₹)
+53.1% -51.0%
0.49 1.00 0.32
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹0.7 Cr, other income ₹2.5 Cr.
Core profit YoY: loss narrowed
· reported profit +55.4%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
914% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹188 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.7 ₹122
+88.2% above Net profit ₹0.8 ₹1.1
+47.7% above
M Cap ₹63.0 Cr
P/E 8.0
PEG —
Operating margin contracted 141 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+26.7% +45.2%
21.1 14.6 16.7 Operating profit
+20.3% +37.4%
5.6 4.1 4.7 OPM %
-141 bps -150 bps
26.6% 28.1% 28.0% Other income
-18.3% -10.1%
1.9 2.1 2.3 Net profit?
-3.6% +45.4%
4.6 3.1 4.8 PAT margin %
-681 bps +4 bps
21.7% 21.6% 28.5% EPS (₹)
-3.5% +45.5%
1.92 1.32 1.99
Quality of profit
Pre-tax profit ₹6.1 Cr: core business ₹4.2 Cr, other income ₹1.9 Cr.
Core profit YoY: +8.5%
· reported profit -3.6%
Cash & debt
FY25 cash from operations −₹36.7 Cr.
Borrowings nil at Mar 2025.
M Cap ₹62.0 Cr
P/E 16.6
PEG —
Profit +173% above its own trend 28% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-24.7% +17.8%
190 162 253 Operating profit
+2.3% +29.8%
6.8 5.2 6.6 OPM %
+94 bps +33 bps
3.6% 3.2% 2.6% Other income
-10.8% -55.4%
0.3 0.7 0.4 Net profit?
+36.4% +46.3%
0.6 0.4 0.4 PAT margin %
+14 bps +6 bps
0.3% 0.3% 0.2% EPS (₹)
+33.3% +33.3%
0.04 0.03 0.03
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.8 Cr, other income ₹0.3 Cr.
Core profit YoY: +55.6%
· reported profit +36.4%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
21% of FY25 net profit of ₹4.7 Cr.
Borrowings ₹130 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹326 ₹190
-41.6% below Net profit ₹0.2 ₹0.6
+172.7% above
M Cap ₹61.0 Cr
P/E 20.6
PEG 1.14
Profit +120% above its own trend Operating margin expanded 440 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
+102.9% +55.8%
27.5 17.7 13.6 Operating profit
from loss from loss 0.5 -0.7 -0.4 OPM %
+440 bps +547 bps
1.7% -3.8% -2.7% Other income
-20.0% -29.3%
1.4 2.0 1.8 Net profit?
+59.0% +148.0%
0.6 0.2 0.4 PAT margin %
-62 bps +84 bps
2.3% 1.4% 2.9% EPS (₹)
+50.0% +200.0%
0.06 0.02 0.04
Quality of profit
Pre-tax profit ₹0.8 Cr: core business −₹0.6 Cr, other income ₹1.4 Cr.
Core profit YoY: loss narrowed
· reported profit +59.0%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-180% of FY25 net profit of ₹1.7 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.7 ₹27.5
+100.6% above Net profit ₹0.3 ₹0.6
+119.6% above
M Cap ₹60.0 Cr
P/E 15.1
PEG —
Operating margin contracted 191 bps YoY 60% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+42.4% +4.4%
141 135 99.0 Operating profit
-25.0% -25.0%
3.0 4.0 4.0 OPM %
-191 bps -84 bps
2.1% 3.0% 4.0% Other income
+0.0% +0.0%
3.0 3.0 3.0 Net profit?
-25.0% -70.0%
3.0 10.0 4.0 PAT margin %
-191 bps -528 bps
2.1% 7.4% 4.0% EPS (₹)
-12.2% -69.1%
1.29 4.18 1.47
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹2.0 Cr, other income ₹3.0 Cr.
Core profit YoY: -33.3%
· reported profit -25.0%
Cash & debt
FY25 cash from operations ₹8.0 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹106 ₹141
+33.2% above Net profit ₹3.2 ₹3.0
-4.8% in line
M Cap ₹60.0 Cr
P/E 6.0
PEG 0.09
Operating margin expanded 292 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+60.0% -25.0%
48.0 64.0 30.0 Operating profit
+200.0% -50.0%
3.0 6.0 1.0 OPM %
+292 bps -312 bps
6.2% 9.4% 3.3% Other income
+0.0% +0.0%
1.0 1.0 1.0 Net profit
— -75.0%
1.0 4.0 0.0 PAT margin %
+208 bps -417 bps
2.1% 6.2% 0.0% EPS (₹)
+125.0% -82.4%
0.36 2.04 0.16
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.0 Cr, other income ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹0.0 Cr.
Borrowings ₹9.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹31.4 ₹48.0
+52.7% above
M Cap ₹59.0 Cr
P/E 94.0
PEG —
Profit -37% below its own trend 42% 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
+30.2% +52.5%
25.1 16.4 19.2 Operating profit
+50.0% -33.3%
0.3 0.5 0.2 OPM %
+16 bps -154 bps
1.2% 2.7% 1.0% Other income
-89.1% -72.2%
0.1 0.2 0.5 Net profit
-67.9% -76.3%
0.1 0.4 0.3 PAT margin %
-110 bps -195 bps
0.4% 2.3% 1.5% EPS (₹)
-50.0% -50.0%
0.01 0.02 0.02
Quality of profit
Pre-tax profit ₹0.1 Cr: core business ₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: from loss
· reported profit -67.9%
Cash & debt
FY25 cash from operations −₹3.3 Cr:
-256% of FY25 net profit of ₹1.3 Cr.
Borrowings ₹4.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹15.3 ₹25.1
+63.3% above Net profit ₹0.1 ₹0.1
-37.2% below
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+200.0% -75.0%
0.0 0.1 0.0 Operating profit
loss widened loss widened -0.1 -0.1 -0.1 Other income
— —
0.2 0.0 0.0 Net profit
from loss from loss 0.0 -0.1 -0.1 PAT margin %
— +15000 bps
66.7% -83.3% — EPS (₹)
from loss from loss 0.03 -0.17 -0.15
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.2 Cr, other income ₹0.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹0.6 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.0 ₹0.0
+252.9% above
M Cap ₹55.0 Cr
P/E 9.4
PEG —
Profit -77% below its own trend 63% 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
-64.9% +80.5%
51.0 28.3 146 Operating profit
-76.4% +36.4%
0.3 0.2 1.3 OPM %
-28 bps -19 bps
0.6% 0.8% 0.9% Other income
-36.5% -40.5%
0.5 0.8 0.7 Net profit
-66.0% -28.2%
0.5 0.7 1.5 PAT margin %
-3 bps -151 bps
1.0% 2.5% 1.0% EPS (₹)
-100.0% -100.0%
0.00 0.01 0.01
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.3 Cr, other income ₹0.5 Cr.
Core profit YoY: -78.0%
· reported profit -66.0%
Cash & debt
FY25 cash from operations −₹23.0 Cr:
-644% of FY25 net profit of ₹3.6 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹225 ₹51.0
-77.3% below Net profit ₹2.2 ₹0.5
-77.0% below
M Cap ₹54.0 Cr
P/E 76.2
PEG —
Operating margin expanded 749 bps YoY 64% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+27.0% -2.0%
10.8 11.0 8.5 Operating profit
+224.4% +16.7%
1.3 1.1 0.4 OPM %
+749 bps +197 bps
12.3% 10.3% 4.8% Other income
-42.1% -21.4%
0.4 0.6 0.8 Net profit
+64.5% +54.5%
0.5 0.3 0.3 PAT margin %
+108 bps +173 bps
4.7% 3.0% 3.6% EPS (₹)
+64.3% +53.3%
0.23 0.15 0.14
Quality of profit
Pre-tax profit ₹0.7 Cr: core business ₹0.3 Cr, other income ₹0.4 Cr.
Core profit YoY: from loss
· reported profit +64.5%
Cash & debt
FY25 cash from operations ₹3.3 Cr.
Borrowings ₹10.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.8 ₹10.8
+0.4% in line
M Cap ₹54.0 Cr
P/E 6.7
PEG 0.25
Profit -46% below its own trend Operating margin contracted 1079 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 5% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.0% -0.4%
24.3 24.4 26.2 Operating profit
-27.9% -24.8%
9.1 12.1 12.6 OPM %
-1079 bps -1208 bps
37.2% 49.3% 48.0% Other income
+302.1% +153.5%
5.8 2.3 1.4 Net profit?
-60.4% +63.9%
2.4 1.5 6.1 PAT margin %
-1334 bps +389 bps
9.9% 6.0% 23.2% EPS (₹)
-61.7% +69.2%
0.44 0.26 1.15
Quality of profit
Pre-tax profit ₹2.1 Cr: core business −₹3.7 Cr, other income ₹5.8 Cr.
Core profit YoY: to loss
· reported profit -60.4%
Cash & debt
FY25 cash from operations ₹3.1 Cr:
5% of FY25 net profit of ₹64.6 Cr.
Borrowings ₹179 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹27.9 ₹24.3
-12.7% below Net profit ₹4.4 ₹2.4
-45.6% below
M Cap ₹51.0 Cr
P/E 12.7
PEG 0.13
Operating margin contracted 1101 bps YoY 56% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -26%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+48.5% -48.0%
9.4 18.1 6.3 Operating profit
-21.6% -69.8%
1.2 3.8 1.5 OPM %
-1101 bps -887 bps
12.3% 21.2% 23.3% Other income
— +46.7%
0.2 0.1 0.0 Net profit
+95.2% -86.4%
0.4 3.0 0.2 PAT margin %
+104 bps -1225 bps
4.3% 16.6% 3.3% EPS (₹)
+106.7% -86.5%
0.31 2.29 0.15
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.2 Cr, other income ₹0.2 Cr.
Core profit YoY: -26.1%
· reported profit +95.2%
Cash & debt
FY25 cash from operations ₹2.6 Cr.
Borrowings ₹7.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.2 ₹9.4
-7.5% below Net profit ₹0.4 ₹0.4
-2.4% in line
M Cap ₹49.0 Cr
P/E 13.1
PEG 0.11
Turnaround: profit against a loss a year ago Operating margin expanded 2822 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
-8.4% +31.5%
12.0 9.1 13.1 Operating profit
from loss -19.2%
0.6 0.8 -3.0 OPM %
+2822 bps -331 bps
5.3% 8.6% -23.0% Other income
+273.9% +72.0%
0.9 0.5 0.2 Net profit?
from loss +13.3%
0.5 0.5 -3.9 PAT margin %
+3410 bps -68 bps
4.3% 4.9% -29.8% EPS (₹)
from loss -40.0%
0.03 0.05 -0.44
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.5 Cr, other income ₹0.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹8.6 Cr.
Borrowings ₹15.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.1 ₹12.0
+18.7% above
M Cap ₹49.0 Cr
P/E 102.5
PEG 1.44
Profit +210% above its own trend Operating margin contracted 409 bps YoY 55% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +400%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+461.8% +110.6%
13.5 6.4 2.4 Operating profit
+0.0% —
0.1 0.0 0.1 OPM %
-409 bps +73 bps
0.9% 0.2% 5.0% Other income
+200.0% -97.9%
0.1 2.8 0.0 Net profit
+300.0% -96.7%
0.1 2.4 0.0 PAT margin %
-24 bps -3689 bps
0.6% 37.5% 0.8% EPS (₹)
+400.0% -96.6%
0.05 1.48 0.01
Quality of profit
Pre-tax profit ₹0.1 Cr: core business ₹0.0 Cr, other income ₹0.1 Cr.
Core profit YoY: +400.0%
· reported profit +300.0%
Cash & debt
FY25 cash from operations −₹1.9 Cr:
-349% of FY25 net profit of ₹0.6 Cr.
Borrowings ₹0.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1.6 ₹13.5
+757.0% above Net profit ₹0.0 ₹0.1
+210.3% above
M Cap ₹48.0 Cr
P/E 7.6
PEG 0.85
Profit -42% below its own trend Operating margin contracted 244 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
-52.7% +73.5%
9.0 5.2 19.1 Operating profit
loss widened loss narrowed -0.3 -0.4 -0.2 OPM %
-244 bps +482 bps
-3.4% -8.3% -1.0% Other income
-16.2% -2.1%
3.3 3.3 3.9 Net profit?
-31.7% +6.4%
1.5 1.4 2.2 PAT margin %
+508 bps -1039 bps
16.5% 26.9% 11.4% EPS (₹)
-32.4% +7.0%
0.46 0.43 0.68
Quality of profit
Pre-tax profit ₹2.0 Cr: core business −₹1.3 Cr, other income ₹3.3 Cr.
Core profit YoY: loss widened
· reported profit -31.7%
Cash & debt
FY25 cash from operations −₹19.8 Cr:
-346% of FY25 net profit of ₹5.7 Cr.
Borrowings ₹52.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.5 ₹9.0
-33.0% below Net profit ₹2.6 ₹1.5
-41.8% below
M Cap ₹47.0 Cr
P/E 10.1
PEG —
Operating margin contracted 1467 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-31.9% -12.6%
14.3 16.4 21.0 Operating profit
-66.3% -11.3%
2.0 2.3 6.1 OPM %
-1467 bps +22 bps
14.3% 14.1% 29.0% Other income
+8.8% from loss 0.7 -2.6 0.7 Net profit?
-62.9% from loss 1.8 -0.6 4.8 PAT margin %
-1041 bps +1631 bps
12.5% -3.9% 22.9% EPS (₹)
-62.7% from loss 0.82 -0.29 2.20
Quality of profit
Pre-tax profit ₹2.4 Cr: core business ₹1.7 Cr, other income ₹0.7 Cr.
Core profit YoY: -70.8%
· reported profit -62.9%
Cash & debt
FY25 cash from operations ₹3.0 Cr.
Borrowings ₹0.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.7 ₹14.3
-30.9% below
M Cap ₹46.0 Cr
P/E 3.7
PEG 0.08
Operating margin expanded 1092 bps YoY 25% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +58%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+24.7% +161.5%
34.0 13.0 27.3 Operating profit
+88.1% from loss 11.0 -10.0 5.8 OPM %
+1092 bps +10928 bps
32.4% -76.9% 21.4% Other income
— +100.0%
2.0 1.0 0.1 Net profit?
+112.5% from loss 6.0 -10.0 2.8 PAT margin %
+729 bps +9457 bps
17.6% -76.9% 10.4% EPS (₹)
+115.7% from loss 4.81 -7.90 adj. 2.23
EPS restated for the 1:1 bonus of Oct 2025: Sep 2024 ₹4.46 to ₹2.23.
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹6.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +58.2%
· reported profit +112.5%
Cash & debt
FY25 cash from operations −₹22.0 Cr.
Borrowings ₹40.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.9 ₹34.0
+48.2% above
Profit -51% below its own trend Operating margin expanded 422 bps YoY 67% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-59.6% -59.2%
31.0 76.1 76.8 Operating profit
-49.5% -42.0%
6.5 11.3 13.0 OPM %
+422 bps +627 bps
21.1% 14.8% 16.9% Other income
+118.8% +214.6%
1.5 0.5 0.7 Net profit
-69.8% -49.0%
1.7 3.4 5.7 PAT margin %
-186 bps +111 bps
5.5% 4.4% 7.4% EPS (₹)
-72.0% -52.9%
0.66 1.40 2.36
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹0.7 Cr, other income ₹1.5 Cr.
Core profit YoY: -88.7%
· reported profit -69.8%
Cash & debt
FY25 cash from operations ₹11.0 Cr:
55% of FY25 net profit of ₹20.0 Cr.
Borrowings ₹190 Cr at Sep 2025, against ₹212 Cr at Mar 2025 (-10% ).
Against its own trend ?
Trend Actual Gap
Sales ₹73.5 ₹31.0
-57.8% below Net profit ₹3.5 ₹1.7
-50.6% below
M Cap ₹44.0 Cr
P/E 14.3
PEG 0.37
Profit -29% below its own trend Operating margin contracted 203 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
-4.4% -5.0%
33.6 35.4 35.1 Operating profit
-82.8% -70.6%
0.1 0.5 0.9 OPM %
-203 bps -100 bps
0.4% 1.4% 2.5% Other income
+438.5% +180.0%
0.7 0.2 0.1 Net profit?
+21.2% +17.6%
0.4 0.3 0.3 PAT margin %
+25 bps +23 bps
1.2% 1.0% 0.9% EPS (₹)
+21.1% +15.0%
0.23 0.20 0.19
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.2 Cr, other income ₹0.7 Cr.
Core profit YoY: to loss
· reported profit +21.2%
Cash & debt
FY25 cash from operations ₹4.0 Cr:
208% of FY25 net profit of ₹1.9 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹40.0 ₹33.6
-16.1% below Net profit ₹0.6 ₹0.4
-28.9% below
M Cap ₹44.0 Cr
P/E 69.6
PEG —
Operating margin contracted 200 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-38.6% -74.0%
9.6 36.8 15.6 Operating profit
-85.4% -93.7%
0.1 1.0 0.4 OPM %
-200 bps -198 bps
0.6% 2.6% 2.6% Other income
— +47.3%
1.4 0.9 0.0 Net profit
+760.0% -27.1%
0.9 1.2 0.1 PAT margin %
+835 bps +579 bps
9.0% 3.2% 0.6% EPS (₹)
+825.0% -26.0%
0.37 0.50 0.04
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹0.2 Cr, other income ₹1.4 Cr.
Core profit YoY: to loss
· reported profit +760.0%
Cash & debt
FY25 cash from operations ₹17.1 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.8 ₹9.6
-64.3% below
M Cap ₹43.0 Cr
P/E 8.7
PEG —
Profit -70% below its own trend Operating margin expanded 192 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-23.1% -21.1%
60.0 76.0 78.0 Operating profit
+0.0% +150.0%
5.0 2.0 5.0 OPM %
+192 bps +570 bps
8.3% 2.6% 6.4% Other income
+0.0% -75.0%
1.0 4.0 1.0 Net profit?
-40.0% -25.0%
3.0 4.0 5.0 PAT margin %
-141 bps -26 bps
5.0% 5.3% 6.4% EPS (₹)
-41.3% -34.4%
1.49 2.27 2.54
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹3.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit -40.0%
Cash & debt
FY25 cash from operations ₹7.0 Cr.
Borrowings ₹41.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹60.0
-45.6% below Net profit ₹10.0 ₹3.0
-70.0% below
M Cap ₹43.0 Cr
P/E 9.4
PEG 0.11
Operating margin expanded 210 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
+19.9% +19.6%
58.1 48.6 48.4 Operating profit
+291.1% +39.7%
1.8 1.3 0.5 OPM %
+210 bps +43 bps
3.0% 2.6% 0.9% Other income
-21.7% +17.5%
0.5 0.4 0.6 Net profit?
— -11.2%
1.5 1.7 0.0 PAT margin %
+254 bps -90 bps
2.6% 3.5% 0.0% EPS (₹)
— -11.2%
1.11 1.25 0.01
Quality of profit
Pre-tax profit ₹1.3 Cr: core business ₹0.8 Cr, other income ₹0.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹2.0 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.8 ₹58.1
-10.3% below
Profit -37% below its own trend Operating margin contracted 757 bps YoY 80% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -93%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+9.0% -21.2%
43.4 55.1 39.8 Operating profit
-69.3% -35.8%
1.3 2.0 4.2 OPM %
-757 bps -68 bps
3.0% 3.6% 10.5% Other income
+321.7% +19.8%
1.0 0.8 0.2 Net profit
-66.3% -23.7%
0.9 1.2 2.7 PAT margin %
-463 bps -7 bps
2.1% 2.1% 6.7% EPS (₹)
-66.2% -23.3%
0.66 0.86 1.95
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.2 Cr, other income ₹1.0 Cr.
Core profit YoY: -92.6%
· reported profit -66.3%
Cash & debt
FY25 cash from operations −₹18.7 Cr.
Borrowings ₹2.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹39.9 ₹43.4
+8.8% above Net profit ₹1.4 ₹0.9
-37.0% below
M Cap ₹43.0 Cr
P/E 26.1
PEG —
Profit -62% below its own trend Operating margin contracted 233 bps YoY 64% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -73%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-3.7% -11.5%
46.8 52.9 48.6 Operating profit
-43.4% -65.9%
1.6 4.5 2.7 OPM %
-233 bps -529 bps
3.3% 8.6% 5.6% Other income
+30.0% +21.9%
0.8 0.6 0.6 Net profit?
-45.1% -68.6%
0.9 2.9 1.6 PAT margin %
-145 bps -350 bps
1.9% 5.4% 3.4% EPS (₹)
-45.1% -68.7%
0.73 2.33 1.33
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.4 Cr, other income ₹0.8 Cr.
Core profit YoY: -73.0%
· reported profit -45.1%
Cash & debt
FY25 cash from operations −₹6.2 Cr.
Borrowings ₹11.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹57.0 ₹46.8
-17.8% below Net profit ₹2.4 ₹0.9
-62.3% below
M Cap ₹42.0 Cr
P/E 21.1
PEG —
Operating margin contracted 351 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+0.0% +26.7%
57.0 45.0 57.0 Operating profit
-28.6% -28.6%
5.0 7.0 7.0 OPM %
-351 bps -678 bps
8.8% 15.6% 12.3% Other income
— -100.0%
0.0 1.0 0.0 Net profit
-33.3% -50.0%
2.0 4.0 3.0 PAT margin %
-175 bps -538 bps
3.5% 8.9% 5.3% EPS (₹)
-34.5% -50.0%
1.90 3.80 2.90
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹2.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -50.0%
· reported profit -33.3%
Cash & debt
FY25 cash from operations −₹9.0 Cr.
Borrowings ₹42.0 Cr at Mar 2025.
M Cap ₹41.0 Cr
P/E 54.5
PEG —
Profit -41% below its own trend Operating margin contracted 425 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
-59.8% +8.4%
7.7 7.1 19.3 Operating profit
to loss loss narrowed -0.1 -0.3 0.6 OPM %
-425 bps +249 bps
-1.3% -3.8% 3.0% Other income
-31.9% -18.4%
0.6 0.8 0.9 Net profit
-70.4% +11.5%
0.3 0.3 1.0 PAT margin %
-134 bps +11 bps
3.7% 3.6% 5.1% EPS (₹)
-69.9% +15.8%
0.22 0.19 0.73
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.2 Cr, other income ₹0.6 Cr.
Core profit YoY: to loss
· reported profit -70.4%
Cash & debt
FY25 cash from operations −₹6.2 Cr:
-130% of FY25 net profit of ₹4.8 Cr.
Borrowings ₹0.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.9 ₹7.7
-44.3% below Net profit ₹0.5 ₹0.3
-40.8% below
M Cap ₹41.0 Cr
P/E 12.1
PEG 1.10
Operating margin contracted 394 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
+3.3% +14.9%
34.6 30.1 33.5 Operating profit
-40.8% -40.8%
1.8 3.1 3.1 OPM %
-394 bps -497 bps
5.3% 10.3% 9.2% Other income
+50.7% +23.0%
2.1 1.7 1.4 Net profit
+0.0% -18.4%
0.9 1.1 0.9 PAT margin %
-9 bps -110 bps
2.7% 3.8% 2.8% EPS (₹)
+0.0% -18.2%
0.54 0.66 0.54
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹0.9 Cr, other income ₹2.1 Cr.
Core profit YoY: loss widened
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
204% of FY25 net profit of ₹0.5 Cr.
Borrowings ₹82.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹44.2 ₹34.6
-21.7% below
Profit -62% below its own trend Operating margin contracted 118 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -76%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-41.1% -8.6%
19.2 21.0 32.7 Operating profit
-47.3% -39.3%
1.9 3.2 3.7 OPM %
-118 bps -512 bps
10.1% 15.3% 11.3% Other income
-32.0% -52.8%
0.2 0.4 0.2 Net profit
-46.6% -36.9%
1.0 1.6 1.9 PAT margin %
-53 bps -235 bps
5.3% 7.6% 5.8% EPS (₹)
-47.0% -36.9%
0.53 0.84 1.00
Quality of profit
Pre-tax profit ₹0.7 Cr: core business ₹0.5 Cr, other income ₹0.2 Cr.
Core profit YoY: -75.6%
· reported profit -46.6%
Cash & debt
FY25 cash from operations −₹14.0 Cr:
-203% of FY25 net profit of ₹6.9 Cr.
Borrowings ₹18.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹35.7 ₹19.2
-46.1% below Net profit ₹2.7 ₹1.0
-62.1% below
Into loss: a profit a year ago Profit -179% below 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
-8.7% +33.6%
18.4 13.7 20.1 Operating profit
-2.9% from loss 2.0 -1.6 2.1 OPM %
+65 bps +2283 bps
10.9% -11.9% 10.2% Other income
-49.5% -87.5%
0.5 4.2 1.1 Net profit
to loss to loss -0.2 0.3 0.6 PAT margin %
-449 bps -355 bps
-1.4% 2.2% 3.1% EPS (₹)
to loss to loss -0.07 0.09 0.19
Quality of profit
Pre-tax profit ₹0.3 Cr: core business −₹0.2 Cr, other income ₹0.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹7.7 Cr.
Borrowings ₹48.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.6 ₹18.4
+4.1% in line Net profit ₹0.3 −₹0.2
-179.4% below
M Cap ₹40.0 Cr
P/E 47.6
PEG —
Profit -96% below its own trend Operating margin contracted 352 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
+2.3% +29.7%
33.0 25.4 32.2 Operating profit
-50.7% -5.3%
1.1 1.1 2.2 OPM %
-352 bps -121 bps
3.3% 4.5% 6.8% Other income
+453.8% -7.7%
0.7 0.8 0.1 Net profit
-93.3% -96.6%
0.0 0.3 0.1 PAT margin %
-44 bps -111 bps
0.0% 1.1% 0.5% EPS (₹)
— -100.0%
0.00 0.01 0.00
Quality of profit
Pre-tax profit ₹0.3 Cr: core business −₹0.4 Cr, other income ₹0.7 Cr.
Core profit YoY: to loss
· reported profit -93.3%
Cash & debt
FY25 cash from operations −₹15.0 Cr:
-291% of FY25 net profit of ₹5.2 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.6 ₹33.0
+1.1% in line Net profit ₹0.3 ₹0.0
-96.2% below
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, 22:35 IST
