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
Latest Q2 FY26 results 5073
Page 23 of 170
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M Cap ₹7,379 Cr
P/E 109.9
PEG 5.49
Profit -13% below its own trend Operating margin expanded 229 bps YoY Core business grew faster than reported profit (core profit +30%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.7% +32.0%
111 84.0 95.0 Operating profit
+29.4% +72.5%
25.9 15.0 20.0 OPM %
+229 bps +549 bps
23.3% 17.9% 21.1% Other income
-88.8% —
0.2 0.0 1.6 Net profit?
+1.7% +103.3%
14.2 7.0 14.0 PAT margin %
-190 bps +450 bps
12.8% 8.3% 14.7% EPS (₹)
+3.8% +100.0%
1.10 0.55 1.06
Quality of profit
Pre-tax profit ₹19.7 Cr: core business ₹19.5 Cr, other income ₹0.2 Cr.
Core profit YoY: +29.8%
· reported profit +1.7%
Cash & debt
FY25 cash from operations ₹27.0 Cr:
51% of FY25 net profit of ₹52.4 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹111
+1.1% in line Net profit ₹16.3 ₹14.2
-12.7% below
M Cap ₹7,365 Cr
P/E 39.6
PEG 7.92
Profit +10% above its own trend
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.4% -3.8%
629 654 679 Operating profit
-8.0% -18.2%
81.0 99.0 88.0 OPM %
-8 bps -226 bps
12.9% 15.1% 13.0% Other income
+71.4% +9.1%
12.0 11.0 7.0 Net profit
-2.7% -26.5%
36.0 49.0 37.0 PAT margin %
+27 bps -177 bps
5.7% 7.5% 5.4% EPS (₹)
-2.0% -26.0%
1.45 1.96 1.48
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹37.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -14.0%
· reported profit -2.7%
Cash & debt
FY25 cash from operations ₹406 Cr:
239% of FY25 net profit of ₹170 Cr.
Borrowings ₹213 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹633 ₹629
-0.7% in line Net profit ₹32.6 ₹36.0
+10.3% above
M Cap ₹7,347 Cr
P/E 47.6
PEG 3.97
Profit -14% below its own trend Gross NPA down 260 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Total income
+1.5% +0.0%
66.0 66.0 65.0 Net interest income
+10.3% —
43.0 — 39.0 Other income
— —
0.0 — 0.0 Net profit
+11.5% -6.5%
29.0 31.0 26.0 EPS (₹)
+14.5% -4.5%
0.63 0.66 0.55 Gross NPA %
-260 bps -2 bps
0.2% 0.2% 2.8%
Against its own trend ?
Trend Actual Gap
NII ₹50.6 ₹43.0
-15.0% below Net profit ₹33.9 ₹29.0
-14.5% below
M Cap ₹7,337 Cr
P/E 17.6
PEG 1.76
Operating margin contracted 559 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+24.6% +23.7%
239 193 192 Operating profit
+13.4% +23.3%
136 110 120 OPM %
-559 bps -19 bps
56.9% 57.1% 62.5% Other income
-26.1% -13.2%
24.4 28.1 33.0 Net profit
+11.1% +23.6%
119 96.2 107 PAT margin %
-601 bps -4 bps
49.7% 49.8% 55.7% EPS (₹)
+11.3% +23.7%
16.88 13.65 15.17
Quality of profit
Pre-tax profit ₹143 Cr: core business ₹119 Cr, other income ₹24.4 Cr.
Core profit YoY: +16.8%
· reported profit +11.1%
Cash & debt
FY25 cash from operations ₹349 Cr:
93% of FY25 net profit of ₹375 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹217 ₹239
+10.1% above Net profit ₹128 ₹119
-7.1% in line
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
-42.0%
102 176 Operating profit
to loss -6.0 55.0 OPM %
-3713 bps
-5.9% 31.2% Other income
+300.0%
4.0 1.0 Net profit?
to loss -9.0 35.0 PAT margin %
-2871 bps
-8.8% 19.9% EPS (₹)
to loss -0.14 0.53
Quality of profit
Pre-tax profit −₹11.0 Cr: core business −₹15.0 Cr, other income ₹4.0 Cr.
M Cap ₹7,139 Cr
P/E 46.1
PEG —
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+61.8% +9.9%
450 410 278 Operating profit
+70.4% +8.6%
61.8 57.0 36.3 OPM %
+70 bps -17 bps
13.7% 13.9% 13.0% Other income
+0.9% -42.5%
1.7 3.0 1.7 Net profit?
+120.1% +8.0%
30.5 28.2 13.8 PAT margin %
+179 bps -12 bps
6.8% 6.9% 5.0% EPS (₹)
+120.3% +8.1%
3.48 3.22 1.58
Quality of profit
Pre-tax profit ₹48.5 Cr: core business ₹46.8 Cr, other income ₹1.7 Cr.
Core profit YoY: +122.5%
· reported profit +120.1%
M Cap ₹7,136 Cr
P/E 108.9
PEG 6.81
Profit +15% above its own trend Operating margin expanded 197 bps YoY Core business grew faster than reported profit (core profit +57%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-12.2% -3.9%
418 435 477 Operating profit
+16.3% +25.6%
33.6 26.8 28.9 OPM %
+197 bps +189 bps
8.0% 6.1% 6.1% Other income
-20.7% -21.1%
2.2 2.8 2.8 Net profit?
+22.2% +15.5%
16.8 14.5 13.7 PAT margin %
+113 bps +67 bps
4.0% 3.3% 2.9% EPS (₹)
+20.0% +15.0%
1.92 1.67 1.60
Quality of profit
Pre-tax profit ₹24.9 Cr: core business ₹22.8 Cr, other income ₹2.2 Cr.
Core profit YoY: +57.5%
· reported profit +22.2%
Cash & debt
FY25 cash from operations −₹13.0 Cr:
-21% of FY25 net profit of ₹63.3 Cr.
Borrowings ₹198 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹452 ₹418
-7.4% below Net profit ₹14.6 ₹16.8
+14.6% above
M Cap ₹7,135 Cr
P/E 50.2
PEG 2.18
Profit +25% above its own trend Operating margin contracted 118 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+11.9% +17.6%
244 207 218 Operating profit
+4.9% +4.0%
43.0 41.3 41.0 OPM %
-118 bps -230 bps
17.6% 19.9% 18.8% Other income
+60.0% -77.4%
8.0 35.5 5.0 Net profit?
+11.5% -34.6%
29.0 44.4 26.0 PAT margin %
-4 bps -950 bps
11.9% 21.4% 11.9% EPS (₹)
+11.7% -36.8%
2.58 4.08 2.31
Quality of profit
Pre-tax profit ₹41.0 Cr: core business ₹32.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +6.7%
· reported profit +11.5%
Cash & debt
FY25 cash from operations ₹106 Cr:
117% of FY25 net profit of ₹90.9 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹226 ₹244
+7.9% above Net profit ₹23.1 ₹29.0
+25.4% above
M Cap ₹7,121 Cr
P/E 26.3
PEG 0.28
Profit -82% below its own trend Operating margin contracted 807 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-1.6% +7.9%
1,969 1,825 2,001 Operating profit
-50.8% -33.4%
159 239 323 OPM %
-807 bps -502 bps
8.1% 13.1% 16.1% Other income
-42.2% +3.6%
26.0 25.1 45.0 Net profit?
-63.6% -47.1%
76.0 144 209 PAT margin %
-658 bps -402 bps
3.9% 7.9% 10.4% EPS (₹)
-63.3% -46.7%
0.80 1.50 2.18
Quality of profit
Pre-tax profit ₹115 Cr: core business ₹89.0 Cr, other income ₹26.0 Cr.
Core profit YoY: -63.2%
· reported profit -63.6%
Cash & debt
FY25 cash from operations ₹1,186 Cr:
175% of FY25 net profit of ₹679 Cr.
Borrowings ₹321 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,825 ₹1,969
+7.9% above Net profit ₹418 ₹76.0
-81.8% below
M Cap ₹7,101 Cr
P/E 34.4
PEG —
78% of pre-tax profit came from other income and one-off items Exceptional items of ₹15.2 Cr in the quarter Profit grew faster than the core business (core profit -84%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+14.8% -8.5%
1,591 1,739 1,386 Operating profit
-2.7% -25.8%
81.6 110 83.9 OPM %
-92 bps -120 bps
5.1% 6.3% 6.1% Other income
-30.0% +32.4%
1.7 1.3 2.4 Net profit?
-34.2% -25.3%
16.1 21.6 24.5 PAT margin %
-76 bps -23 bps
1.0% 1.2% 1.8% EPS (₹)
-34.4% -25.0%
0.42 0.56 0.64
Quality of profit
Pre-tax profit ₹21.6 Cr: core business ₹4.8 Cr, other income ₹1.7 Cr, exceptional & other items ₹15.2 Cr.
Core profit YoY: -84.2%
· reported profit -34.2%
Cash & debt
FY25 cash from operations ₹176 Cr:
113% of FY25 net profit of ₹156 Cr.
Borrowings ₹1,976 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,462 ₹1,591
+8.8% above Net profit ₹16.2 ₹16.1
-0.5% in line
M Cap ₹7,101 Cr
P/E 35.8
PEG 1.09
Profit -26% below its own trend Operating margin contracted 261 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.3% +37.7%
200 145 166 Operating profit
+12.3% +40.5%
72.6 51.7 64.7 OPM %
-261 bps +72 bps
36.4% 35.6% 39.0% Other income
+8.2% +1.9%
2.7 2.7 2.5 Net profit
+9.3% +44.9%
50.4 34.8 46.1 PAT margin %
-255 bps +125 bps
25.2% 24.0% 27.8% EPS (₹)
+9.8% +45.1%
6.27 4.32 5.71
Quality of profit
Pre-tax profit ₹68.3 Cr: core business ₹65.6 Cr, other income ₹2.7 Cr.
Core profit YoY: +10.2%
· reported profit +9.3%
Cash & debt
FY25 cash from operations ₹165 Cr:
88% of FY25 net profit of ₹188 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹195 ₹200
+2.4% in line Net profit ₹67.7 ₹50.4
-25.5% below
M Cap ₹7,076 Cr
P/E 37.3
PEG —
Profit +37% above its own trend Operating margin expanded 191 bps YoY Core business grew faster than reported profit (core profit +44%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+11.2% +36.8%
834 609 750 Operating profit
+33.1% +139.1%
96.5 40.4 72.5 OPM %
+191 bps +495 bps
11.6% 6.6% 9.7% Other income
-22.5% -11.8%
15.3 17.4 19.8 Net profit?
+21.0% +146.7%
63.2 25.6 52.2 PAT margin %
+61 bps +338 bps
7.6% 4.2% 7.0% EPS (₹)
+22.8% +141.8%
4.69 1.94 3.82
Quality of profit
Pre-tax profit ₹88.5 Cr: core business ₹73.1 Cr, other income ₹15.3 Cr.
Core profit YoY: +44.5%
· reported profit +21.0%
Cash & debt
FY25 cash from operations ₹157 Cr:
145% of FY25 net profit of ₹108 Cr.
Borrowings ₹180 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹774 ₹834
+7.7% above Net profit ₹46.2 ₹63.2
+36.7% above
M Cap ₹7,067 Cr
P/E 13.3
PEG 3.32
Operating margin contracted 107 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.8% +3.6%
1,078 1,041 1,001 Operating profit
+1.2% +8.3%
177 164 175 OPM %
-107 bps +70 bps
16.5% 15.8% 17.5% Other income
-12.9% -25.6%
8.9 12.0 10.3 Net profit?
-4.0% +5.6%
125 118 130 PAT margin %
-142 bps +22 bps
11.6% 11.4% 13.0% EPS (₹)
-2.8% +6.9%
9.43 8.82 9.70
Quality of profit
Pre-tax profit ₹155 Cr: core business ₹147 Cr, other income ₹8.9 Cr.
Core profit YoY: -2.6%
· reported profit -4.0%
Cash & debt
FY25 cash from operations ₹642 Cr:
127% of FY25 net profit of ₹507 Cr.
Borrowings ₹64.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,009 ₹1,078
+6.9% above Net profit ₹114 ₹125
+10.0% in line
M Cap ₹7,025 Cr
P/E 41.9
PEG 0.32
Profit -30% below its own trend Core business grew faster than reported profit (core profit +70%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.8% +11.9%
1,571 1,404 1,301 Operating profit
+46.2% +24.0%
62.1 50.1 42.4 OPM %
+69 bps +38 bps
4.0% 3.6% 3.3% Other income
-57.5% -17.8%
4.8 5.8 11.3 Net profit?
+40.6% +21.1%
36.6 30.2 26.0 PAT margin %
+33 bps +18 bps
2.3% 2.2% 2.0% EPS (₹)
+33.7% +13.6%
7.26 6.39 5.43
Quality of profit
Pre-tax profit ₹44.6 Cr: core business ₹39.8 Cr, other income ₹4.8 Cr.
Core profit YoY: +69.5%
· reported profit +40.6%
Cash & debt
FY25 cash from operations −₹77.0 Cr:
-72% of FY25 net profit of ₹107 Cr.
Borrowings ₹385 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,691 ₹1,571
-7.1% below Net profit ₹52.1 ₹36.6
-29.7% below
M Cap ₹6,986 Cr
P/E 44.0
PEG 1.52
Profit +18% above its own trend
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+17.7% +4.4%
1,039 995 883 Operating profit
+22.9% +7.5%
86.0 80.0 70.0 OPM %
+35 bps +24 bps
8.3% 8.0% 7.9% Other income
+33.3% +33.3%
4.0 3.0 3.0 Net profit?
+52.2% +9.4%
35.0 32.0 23.0 PAT margin %
+76 bps +15 bps
3.4% 3.2% 2.6% EPS (₹)
+47.5% +10.9%
2.95 2.66 2.00
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹44.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +51.7%
· reported profit +52.2%
Cash & debt
FY25 cash from operations ₹114 Cr:
103% of FY25 net profit of ₹111 Cr.
Borrowings ₹892 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,156 ₹1,039
-10.2% below Net profit ₹29.6 ₹35.0
+18.1% above
M Cap ₹6,980 Cr
P/E 33.3
PEG —
Profit +19% above its own trend Operating margin expanded 271 bps YoY Exceptional items of ₹25.7 Cr in the quarter Core business grew faster than reported profit (core profit +38%) FY25 operating cash flow was only 10% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.2% +2.0%
1,309 1,283 1,244 Operating profit
+33.9% -0.9%
166 167 124 OPM %
+271 bps -38 bps
12.7% 13.0% 10.0% Other income
+1.6% +56.8%
23.9 15.2 23.5 Net profit?
+12.0% -10.8%
105 118 94.2 PAT margin %
+49 bps -115 bps
8.1% 9.2% 7.6% EPS (₹)
+11.5% -10.9%
21.30 23.90 19.10
Quality of profit
Pre-tax profit ₹141 Cr: core business ₹143 Cr, other income ₹23.9 Cr, exceptional & other items −₹25.8 Cr.
Core profit YoY: +37.7%
· reported profit +12.0%
Cash & debt
FY25 cash from operations ₹203 Cr:
10% of FY25 net profit of ₹1,996 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,315 ₹1,309
-0.5% in line Net profit ₹88.4 ₹105
+19.3% above
M Cap ₹6,930 Cr
P/E 65.1
PEG 3.83
Operating margin contracted 161 bps YoY 38% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -9%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+29.0% +10.7%
383 346 297 Operating profit
+14.3% +6.7%
48.0 45.0 42.0 OPM %
-161 bps -47 bps
12.5% 13.0% 14.1% Other income
+100.0% +100.0%
12.0 6.0 6.0 Net profit?
+14.3% +26.3%
24.0 19.0 21.0 PAT margin %
-80 bps +77 bps
6.3% 5.5% 7.1% EPS (₹)
+12.1% +25.0%
8.89 7.11 7.93
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹20.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -9.1%
· reported profit +14.3%
Cash & debt
FY25 cash from operations −₹20.0 Cr:
-21% of FY25 net profit of ₹96.0 Cr.
Borrowings ₹289 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹376 ₹383
+1.9% in line Net profit ₹23.1 ₹24.0
+3.9% in line
M Cap ₹6,922 Cr
P/E 53.1
PEG —
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+27.4%
712 559 Operating profit
+15.0%
46.0 40.0 OPM %
-69 bps
6.5% 7.2% Other income
+0.0%
4.0 4.0 Net profit
+30.4%
30.0 23.0 PAT margin %
+10 bps
4.2% 4.1% EPS (₹)
+30.6%
5.21 3.99
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹33.0 Cr, other income ₹4.0 Cr.
M Cap ₹6,866 Cr
P/E 20.7
PEG —
Profit +21% above its own trend Operating margin contracted 285 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.9% +4.4%
1,749 1,674 1,683 Operating profit
-15.0% -9.3%
224 247 264 OPM %
-285 bps -195 bps
12.8% 14.8% 15.7% Other income
-38.5% -21.8%
19.6 25.1 31.9 Net profit?
-39.6% -8.8%
77.9 85.4 129 PAT margin %
-320 bps -65 bps
4.5% 5.1% 7.7% EPS (₹)
-41.8% -7.9%
4.42 4.80 7.59
Quality of profit
Pre-tax profit ₹101 Cr: core business ₹81.5 Cr, other income ₹19.6 Cr.
Core profit YoY: -28.0%
· reported profit -39.6%
Cash & debt
FY25 cash from operations ₹613 Cr:
152% of FY25 net profit of ₹402 Cr.
Borrowings ₹1,885 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,643 ₹1,749
+6.4% above Net profit ₹64.4 ₹77.9
+20.9% above
M Cap ₹6,860 Cr
P/E 24.1
PEG 1.61
Profit -14% below its own trend Operating margin contracted 280 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+0.4% -2.0%
736 751 733 Operating profit
-14.5% +5.5%
118 112 138 OPM %
-280 bps +114 bps
16.1% 14.9% 18.9% Other income
+35.4% +1.4%
17.0 16.8 12.5 Net profit
-16.4% -9.5%
87.8 97.0 105 PAT margin %
-239 bps -99 bps
11.9% 12.9% 14.3% EPS (₹)
-16.4% -9.5%
2.39 2.64 2.86
Quality of profit
Pre-tax profit ₹119 Cr: core business ₹102 Cr, other income ₹17.0 Cr.
Core profit YoY: -17.3%
· reported profit -16.4%
Cash & debt
FY25 cash from operations ₹312 Cr:
84% of FY25 net profit of ₹371 Cr.
Borrowings ₹61.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹742 ₹736
-0.8% in line Net profit ₹102 ₹87.8
-14.1% below
M Cap ₹6,858 Cr
P/E 14.8
PEG 3.70
Profit +15% above its own trend
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-2.3% -28.5%
2,119 2,965 2,170 Operating profit
-8.0% -5.9%
173 184 188 OPM %
-50 bps +196 bps
8.2% 6.2% 8.7% Other income
+266.4% +29.2%
31.0 24.0 8.5 Net profit?
+13.2% +10.1%
120 109 106 PAT margin %
+78 bps +199 bps
5.7% 3.7% 4.9% EPS (₹)
+12.9% +10.0%
4.29 3.90 3.80
Quality of profit
Pre-tax profit ₹164 Cr: core business ₹133 Cr, other income ₹31.0 Cr.
Core profit YoY: -2.1%
· reported profit +13.2%
Cash & debt
FY25 cash from operations ₹644 Cr:
152% of FY25 net profit of ₹425 Cr.
Borrowings ₹516 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,510 ₹2,119
-15.6% below Net profit ₹104 ₹120
+15.3% above
M Cap ₹6,856 Cr
P/E 13.6
PEG 0.28
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Total income
+30.4% +2.2%
369 361 283 Net interest income
+31.5% +1.6%
259 255 197 Other income
-100.0% —
0.0 0.0 1.0 Net profit
+35.6% +2.5%
122 119 90.0 EPS (₹)
+34.3% +1.7%
11.24 11.05 8.37 Gross NPA %
— +1 bps
1.2% 1.2% — Net NPA %
— -1 bps
0.9% 0.9% —
Against its own trend ?
Trend Actual Gap
Net profit ₹132 ₹122
-7.6% in line
M Cap ₹6,808 Cr
P/E 21.0
PEG —
Profit +37% above its own trend Operating margin expanded 537 bps YoY Core business grew faster than reported profit (core profit +13%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-9.4% +17.0%
475 406 524 Operating profit
+11.9% +41.1%
134 95.0 120 OPM %
+537 bps +481 bps
28.2% 23.4% 22.8% Other income
to loss to loss -22.0 9.0 2.3 Net profit
-7.5% +8.6%
76.0 70.0 82.2 PAT margin %
+31 bps -124 bps
16.0% 17.2% 15.7% EPS (₹)
-7.4% +9.3%
33.04 30.22 35.69
Quality of profit
Pre-tax profit ₹102 Cr: core business ₹125 Cr, other income −₹22.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +13.3%
· reported profit -7.5%
Against its own trend ?
Trend Actual Gap
Sales ₹459 ₹475
+3.5% in line Net profit ₹55.6 ₹76.0
+36.6% above
M Cap ₹6,796 Cr
P/E 18.6
PEG 1.03
Profit +999% above its own trend Operating margin expanded 850 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+26.3% -11.1%
811 912 642 Operating profit
+98.1% -16.7%
190 228 96.0 OPM %
+850 bps -157 bps
23.4% 25.0% 15.0% Other income
+73.5% +93.5%
3.5 1.8 2.0 Net profit?
— -27.6%
71.1 98.2 6.0 PAT margin %
+783 bps -200 bps
8.8% 10.8% 0.9% EPS (₹)
— -27.0%
1.78 2.44 0.14
Quality of profit
Pre-tax profit ₹92.3 Cr: core business ₹88.9 Cr, other income ₹3.5 Cr.
Cash & debt
FY25 cash from operations ₹296 Cr:
175% of FY25 net profit of ₹169 Cr.
Borrowings ₹403 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹724 ₹811
+12.0% above Net profit ₹4.6 ₹71.1
+999.0% above
M Cap ₹6,776 Cr
P/E 8.6
PEG 0.54
Gross NPA down 38 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Total income
+13.3% -2.0%
2,009 2,050 1,773 Net interest income
+17.1% +2.6%
596 581 509 Other income
-9.3% -21.2%
186 236 205 Net profit
+18.7% +17.2%
184 157 155 EPS (₹)
+17.7% +16.8%
5.84 5.00 4.96 Gross NPA %
-38 bps -7 bps
2.9% 3.0% 3.3% Net NPA %
+4 bps -1 bps
1.2% 1.2% 1.2%
Against its own trend ?
Trend Actual Gap
NII ₹571 ₹596
+4.4% in line Net profit ₹185 ₹184
-0.6% in line
M Cap ₹6,752 Cr
P/E 32.0
PEG —
Profit +32% above its own trend
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-1.8% -5.0%
341 358 347 Operating profit
-1.4% +9.4%
59.8 54.7 60.7 OPM %
+7 bps +230 bps
17.6% 15.3% 17.5% Other income
-23.2% -21.8%
7.1 9.0 9.2 Net profit?
-10.5% +1.6%
37.1 36.5 41.5 PAT margin %
-106 bps +70 bps
10.9% 10.2% 12.0% EPS (₹)
-15.7% -9.0%
10.67 11.73 12.65
Quality of profit
Pre-tax profit ₹51.6 Cr: core business ₹44.6 Cr, other income ₹7.1 Cr.
Core profit YoY: -6.4%
· reported profit -10.5%
Cash & debt
FY25 cash from operations ₹255 Cr:
160% of FY25 net profit of ₹159 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹306 ₹341
+11.4% above Net profit ₹28.1 ₹37.1
+32.0% above
M Cap ₹6,709 Cr
P/E 23.6
PEG —
Profit -40% below its own trend Exceptional items of ₹-41.6 Cr in the quarter FY25 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+2.9% +26.1%
1,691 1,341 1,644 Operating profit
+6.0% +22.6%
147 120 139 OPM %
+25 bps -25 bps
8.7% 9.0% 8.5% Other income
+46.2% +93.1%
34.4 17.8 23.5 Net profit?
-41.2% -4.0%
56.3 58.6 95.7 PAT margin %
-249 bps -104 bps
3.3% 4.4% 5.8% EPS (₹)
-52.5% -15.9%
5.98 7.11 12.59
Quality of profit
Pre-tax profit ₹94.3 Cr: core business ₹102 Cr, other income ₹34.4 Cr, exceptional & other items −₹41.7 Cr.
Core profit YoY: -2.3%
· reported profit -41.2%
Cash & debt
FY25 cash from operations ₹116 Cr:
44% of FY25 net profit of ₹264 Cr.
Borrowings ₹861 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,554 ₹1,691
+8.8% above Net profit ₹94.5 ₹56.3
-40.5% below
M Cap ₹6,698 Cr
P/E 31.7
PEG 0.83
Profit +15% above its own trend Operating margin expanded 219 bps YoY
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+25.5% +15.2%
242 210 193 Operating profit
+36.1% +21.4%
68.0 56.0 50.0 OPM %
+219 bps +143 bps
28.1% 26.7% 25.9% Other income
+129.2% +33.3%
4.0 3.0 1.7 Net profit?
+47.5% +22.9%
43.0 35.0 29.1 PAT margin %
+265 bps +110 bps
17.8% 16.7% 15.1% EPS (₹)
+46.8% +24.3%
13.71 11.03 9.34
Quality of profit
Pre-tax profit ₹58.0 Cr: core business ₹53.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +43.2%
· reported profit +47.5%
Cash & debt
FY25 cash from operations ₹163 Cr:
137% of FY25 net profit of ₹119 Cr.
Borrowings ₹37.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹215 ₹242
+12.8% above Net profit ₹37.5 ₹43.0
+14.8% above
M Cap ₹6,697 Cr
P/E 47.4
PEG 1.97
Profit +53% above its own trend Operating margin contracted 261 bps YoY 67% of pre-tax profit came from other income and one-off items Exceptional items of ₹25.8 Cr in the quarter Profit grew faster than the core business (core profit -63%) FY25 operating cash flow was only 27% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-6.0% -3.2%
412 425 438 Operating profit
-30.3% +27.0%
30.7 24.2 44.1 OPM %
-261 bps +177 bps
7.5% 5.7% 10.1% Other income
-7.1% +5.2%
4.6 4.4 5.0 Net profit?
+17.8% +259.8%
41.0 11.4 34.8 PAT margin %
+201 bps +729 bps
10.0% 2.7% 8.0% EPS (₹)
+15.4% +275.0%
0.75 0.20 0.65
Quality of profit
Pre-tax profit ₹45.7 Cr: core business ₹15.2 Cr, other income ₹4.6 Cr, exceptional & other items ₹25.8 Cr.
Core profit YoY: -62.9%
· reported profit +17.8%
Cash & debt
FY25 cash from operations ₹32.0 Cr:
27% of FY25 net profit of ₹118 Cr.
Borrowings ₹105 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹450 ₹412
-8.5% below Net profit ₹26.9 ₹41.0
+52.9% above
M Cap ₹6,694 Cr
P/E 21.3
PEG 0.89
Operating margin expanded 245 bps YoY 52% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+11.0% +25.1%
401 321 361 Operating profit
+22.9% +126.7%
102 45.0 83.0 OPM %
+245 bps +1140 bps
25.4% 14.0% 23.0% Other income
-29.8% -55.8%
13.0 29.4 18.5 Net profit?
+16.6% +64.9%
82.0 49.7 70.3 PAT margin %
+98 bps +494 bps
20.4% 15.5% 19.5% EPS (₹)
+14.7% +62.5%
5.77 3.55 5.03
Quality of profit
Pre-tax profit ₹169 Cr: core business ₹81.4 Cr, other income ₹13.0 Cr, exceptional & other items ₹75.0 Cr.
Core profit YoY: +10.0%
· reported profit +16.6%
Cash & debt
FY25 cash from operations ₹215 Cr:
68% of FY25 net profit of ₹315 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹419 ₹401
-4.4% in line Net profit ₹82.8 ₹82.0
-0.9% in line
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
