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: 45 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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539018
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit -59% below its own trend Operating margin contracted 390 bps YoY 50% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.2% -6.0%
266 283 229 Operating profit
-22.2% +16.7%
21.0 18.0 27.0 OPM %
-390 bps +153 bps
7.9% 6.4% 11.8% Other income
-66.7% -77.4%
7.0 31.0 21.0 Net profit?
-63.6% -61.3%
12.0 31.0 33.0 PAT margin %
-990 bps -644 bps
4.5% 11.0% 14.4% EPS (₹)
-64.5% -62.7%
6.10 16.34 17.18
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹6.0 Cr, other income ₹7.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -66.7%
· reported profit -63.6%
Cash & debt
FY25 cash from operations ₹147 Cr:
163% of FY25 net profit of ₹90.0 Cr.
Borrowings ₹299 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹267 ₹266
-0.2% in line Net profit ₹29.3 ₹12.0
-59.1% below
539097
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
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
— —
0.0 0.0 0.0 Operating profit
loss widened —
-0.1 -0.1 -0.1 Other income
— +0.0%
0.2 0.2 0.0 Net profit
— -7.7%
0.1 0.1 0.0 EPS (₹)
— +0.0%
0.02 0.02 0.00
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.1 Cr, other income ₹0.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹1.0 Cr:
-248% of FY25 net profit of ₹0.4 Cr.
Borrowings nil at Mar 2025.
539111
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Operating margin expanded 1085 bps YoY 97% 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
-5.4% +19.4%
7.6 6.3 8.0 Operating profit
— +200.0%
0.8 0.3 0.0 OPM %
+1085 bps +668 bps
11.1% 4.4% 0.2% Other income
-28.4% from loss 1.4 -0.7 2.0 Net profit
+20.3% from loss 1.5 -1.3 1.2 PAT margin %
+418 bps +3958 bps
19.6% -20.0% 15.4% EPS (₹)
+20.2% from loss 2.98 -2.56 2.48
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.0 Cr, other income ₹1.4 Cr.
Core profit YoY: from loss
· reported profit +20.3%
Cash & debt
FY25 cash from operations −₹0.7 Cr:
-9% of FY25 net profit of ₹8.4 Cr.
Borrowings ₹22.7 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.8 ₹7.6
-3.4% in line
539122
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 5386 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
+175.4% +87.4%
3.6 1.9 1.3 Operating profit
loss narrowed to loss -0.3 0.3 -0.8 OPM %
+5386 bps -2597 bps
-9.2% 16.8% -63.1% Other income
+781.8% —
1.0 0.0 0.1 Net profit
from loss +35.5%
0.4 0.3 -0.7 PAT margin %
+6712 bps -450 bps
11.7% 16.2% -55.4% EPS (₹)
from loss +35.7%
0.19 0.14 -0.08
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.4 Cr, other income ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹1.6 Cr.
Borrowings ₹0.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.6 ₹3.6
+37.7% above
539123
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -35% 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
— —
0.0 0.0 0.0 Operating profit
loss narrowed loss narrowed -0.1 -0.1 -0.1 Other income
-1.9% +1.9%
0.5 0.5 0.5 Net profit
-18.2% +12.5%
0.4 0.3 0.4 EPS (₹)
-20.6% +12.5%
0.27 0.24 0.34
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.1 Cr, other income ₹0.5 Cr.
Core profit YoY: loss narrowed
· reported profit -18.2%
Cash & debt
FY25 cash from operations ₹0.1 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Net profit ₹0.5 ₹0.4
-34.5% below
539132
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 8476 bps YoY 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— +410.9%
67.4 13.2 4.2 Operating profit
from loss —
2.4 0.2 -3.4 OPM %
+8476 bps +200 bps
3.5% 1.5% -81.2% Other income
-30.2% +87.5%
0.3 0.2 0.4 Net profit
from loss from loss 0.6 -1.7 -6.0 PAT margin %
— +1380 bps
0.9% -12.9% — EPS (₹)
from loss from loss 0.02 -0.07 -0.23
Quality of profit
Pre-tax profit ₹0.6 Cr: core business ₹0.3 Cr, other income ₹0.3 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹2.0 Cr.
Borrowings ₹32.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.3 ₹67.4
+710.6% above
539149
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Operating margin contracted 636 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
+46.7% -40.5%
0.2 0.4 0.1 Operating profit
+0.0% -87.5%
0.0 0.2 0.0 OPM %
-636 bps -5123 bps
13.6% 64.9% 20.0% Other income
-33.3% +100.0%
0.0 0.0 0.1 Net profit?
+100.0% -33.3%
0.0 0.1 0.0 PAT margin %
+485 bps +197 bps
18.2% 16.2% 13.3% EPS (₹)
+0.0% -50.0%
0.01 0.02 0.01
Quality of profit
Pre-tax profit ₹0.0 Cr: core business ₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss narrowed
· reported profit +100.0%
Cash & debt
FY25 cash from operations ₹2.0 Cr.
Borrowings ₹2.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.3 ₹0.2
-26.7% below
539216
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit +94% above its own trend Operating margin contracted 310 bps YoY 80% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -37%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+87.9% +75.0%
65.0 37.2 34.6 Operating profit
-8.1% +31.3%
1.9 1.5 2.1 OPM %
-310 bps -99 bps
3.0% 4.0% 6.1% Other income
— +5.9%
2.9 2.7 0.0 Net profit?
+288.2% +6.9%
2.6 2.5 0.7 PAT margin %
+210 bps -259 bps
4.1% 6.6% 2.0% EPS (₹)
+300.0% +0.0%
0.04 0.04 0.01
Quality of profit
Pre-tax profit ₹3.6 Cr: core business ₹0.7 Cr, other income ₹2.9 Cr.
Core profit YoY: -36.6%
· reported profit +288.2%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
524% of FY25 net profit of ₹2.9 Cr.
Borrowings ₹32.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹27.2 ₹65.0
+138.6% above Net profit ₹1.4 ₹2.6
+94.1% above
539265
· H1 FY26 · Standalone
M Cap —
P/E —
PEG —
Operating margin expanded 1437 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
+200.9% -86.0%
3.5 25.0 1.2 Operating profit
loss narrowed loss narrowed -0.0 -0.4 -0.2 OPM %
+1437 bps +115 bps
-0.3% -1.4% -14.7% Other income
-54.5% -61.5%
0.2 0.7 0.6 Net profit
-14.3% +500.0%
0.2 0.0 0.3 PAT margin %
-1726 bps +672 bps
6.9% 0.2% 24.1% EPS (₹)
-14.3% +500.0%
0.18 0.03 0.21
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.1 Cr, other income ₹0.2 Cr.
Core profit YoY: loss narrowed
· reported profit -14.3%
Cash & debt
FY25 cash from operations −₹1.4 Cr.
Borrowings nil at Mar 2025.
539277
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit +999% 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
— —
0.0 0.0 0.0 Operating profit
loss widened loss widened -0.7 -0.0 -0.1 Other income
— +24.7%
2.2 1.8 0.1 Net profit
— -14.3%
1.5 1.8 0.0 EPS (₹)
— —
0.00 0.00 0.00
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹0.7 Cr, other income ₹2.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹1.6 Cr:
52% of FY25 net profit of ₹3.1 Cr.
Borrowings ₹1,422 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Net profit ₹0.0 ₹1.5
+999.0% above
539314
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -22% below its own trend Operating margin contracted 280 bps YoY 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+10.1% +17.6%
54.9 46.6 49.8 Operating profit
-23.2% +18.3%
3.5 3.0 4.6 OPM %
-280 bps +4 bps
6.5% 6.4% 9.3% Other income
+78.6% +2.0%
0.5 0.5 0.3 Net profit
-35.1% -10.3%
0.6 0.7 0.9 PAT margin %
-77 bps -35 bps
1.1% 1.5% 1.9% EPS (₹)
-35.5% -10.9%
0.49 0.55 0.76
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.5 Cr, other income ₹0.5 Cr.
Core profit YoY: -51.4%
· reported profit -35.1%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
213% of FY25 net profit of ₹2.4 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹51.5 ₹54.9
+6.5% above Net profit ₹0.8 ₹0.6
-22.0% below
539354
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit +564% above its own trend Operating margin contracted 103 bps YoY 43% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -54%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-4.3% +2.6%
58.9 57.4 61.5 Operating profit
-17.4% +13.2%
3.9 3.4 4.7 OPM %
-103 bps +61 bps
6.5% 5.9% 7.6% Other income
+47.2% -6.0%
0.8 0.8 0.5 Net profit?
+261.2% +72.9%
2.4 1.4 0.7 PAT margin %
+302 bps +167 bps
4.1% 2.4% 1.1% EPS (₹)
+261.2% +72.9%
2.42 1.40 0.67
Quality of profit
Pre-tax profit ₹1.8 Cr: core business ₹1.0 Cr, other income ₹0.8 Cr.
Core profit YoY: -53.8%
· reported profit +261.2%
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-219% of FY25 net profit of ₹4.1 Cr.
Borrowings ₹85.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.7 ₹58.9
-17.8% below Net profit ₹0.4 ₹2.4
+563.9% above
539401
· H1 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -47% below its own trend Operating margin contracted 286 bps YoY All of pre-tax profit came from other income or one-off items Profit grew faster than the core business (core profit -100%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-1.4% -23.6%
68.0 89.0 69.0 Operating profit
-50.0% -81.8%
2.0 11.0 4.0 OPM %
-286 bps -942 bps
2.9% 12.4% 5.8% Other income
+200.0% +0.0%
3.0 3.0 1.0 Net profit
+0.0% -66.7%
3.0 9.0 3.0 PAT margin %
+6 bps -570 bps
4.4% 10.1% 4.3% EPS (₹)
-0.3% -70.5%
6.28 21.29 6.30
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹0.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -100.0%
· reported profit +0.0%
Cash & debt
FY25 cash from operations −₹5.0 Cr.
Borrowings ₹15.0 Cr at Sep 2025, against ₹14.0 Cr at Mar 2025 (+7% ).
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹68.0
-36.8% below Net profit ₹5.6 ₹3.0
-46.7% below
539406
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— —
0.0 0.0 0.0 Operating profit
— loss narrowed -0.0 -0.1 -0.0 Other income
+33.3% +14.3%
0.1 0.1 0.1 Net profit
+100.0% —
0.0 0.0 0.0 EPS (₹)
+100.0% —
0.34 0.00 0.17
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.0 Cr, other income ₹0.1 Cr.
Core profit YoY: —
· reported profit +100.0%
Cash & debt
FY25 cash from operations −₹0.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Net profit ₹0.0 ₹0.0
+0.0% in line
539435
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 6764 bps YoY 41% 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
+243.0% +23.7%
2.7 2.2 0.8 Operating profit
from loss +38.9%
1.2 0.9 -0.2 OPM %
+6764 bps +503 bps
46.1% 41.1% -21.5% Other income
+35.7% +375.0%
0.2 0.0 0.1 Net profit
from loss +277.8%
0.3 0.1 -0.0 PAT margin %
+1634 bps +844 bps
12.5% 4.1% -3.8% EPS (₹)
from loss +275.0%
0.45 0.12 -0.04
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.3 Cr, other income ₹0.2 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹20.7 Cr:
-14800% of FY25 net profit of ₹0.1 Cr.
Borrowings ₹26.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1.6 ₹2.7
+71.5% above
539455
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Operating margin contracted 408 bps YoY 95% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -90%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+4.4% -40.7%
6.7 11.3 6.4 Operating profit
-89.7% -94.1%
0.0 0.5 0.3 OPM %
-408 bps -408 bps
0.4% 4.5% 4.5% Other income
— +78.8%
0.6 0.3 0.0 Net profit
+112.0% -8.6%
0.5 0.6 0.2 PAT margin %
+403 bps +279 bps
7.9% 5.1% 3.9% EPS (₹)
+16.9% -8.4%
0.76 0.83 0.65
Quality of profit
Pre-tax profit ₹0.6 Cr: core business ₹0.0 Cr, other income ₹0.6 Cr.
Core profit YoY: -89.7%
· reported profit +112.0%
Cash & debt
FY25 cash from operations −₹7.3 Cr:
-481% of FY25 net profit of ₹1.5 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹12.8 ₹6.7
-47.8% below Net profit ₹0.5 ₹0.5
+6.0% in line
539469
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit -83% below its own trend Operating margin contracted 616 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
-5.2% -42.9%
77.9 136 82.1 Operating profit
-67.6% -67.2%
2.5 7.6 7.7 OPM %
-616 bps -236 bps
3.2% 5.6% 9.4% Other income
+248.5% +118.1%
3.4 1.6 1.0 Net profit?
-83.3% -76.0%
0.8 3.5 5.0 PAT margin %
-504 bps -149 bps
1.1% 2.6% 6.1% EPS (₹)
— —
0.08 0.21 0.25
No EPS growth against Jun 2025 and Sep 2024: 5:2 bonus in Dec 2025.
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹1.8 Cr, other income ₹3.4 Cr.
Core profit YoY: to loss
· reported profit -83.3%
Cash & debt
FY25 cash from operations −₹26.0 Cr:
-65% of FY25 net profit of ₹39.8 Cr.
Borrowings ₹78.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹107 ₹77.9
-27.1% below Net profit ₹4.9 ₹0.8
-82.9% below
539470
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -98% below its own trend Operating margin contracted 5296 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
-61.1% -44.2%
0.8 1.4 2.0 Operating profit
to loss loss widened -0.4 -0.1 0.0 OPM %
-5296 bps -4543 bps
-51.9% -6.5% 1.0% Other income
+36.7% -2.4%
0.4 0.4 0.3 Net profit
-96.9% -97.0%
0.0 0.3 0.3 PAT margin %
-1486 bps -2261 bps
1.3% 23.9% 16.2% EPS (₹)
-100.0% -100.0%
0.00 0.01 0.01
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.4 Cr, other income ₹0.4 Cr.
Core profit YoY: to loss
· reported profit -96.9%
Cash & debt
FY25 cash from operations −₹10.2 Cr:
-2687% of FY25 net profit of ₹0.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1.3 ₹0.8
-39.1% below Net profit ₹0.6 ₹0.0
-98.4% below
539479
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit +81% above its own trend Operating margin expanded 654 bps YoY 27% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +114%) FY25 operating cash flow was only 18% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+4.0% +48.5%
24.5 16.5 23.6 Operating profit
+86.6% +24.4%
3.6 2.9 1.9 OPM %
+654 bps -286 bps
14.8% 17.6% 8.2% Other income
— —
1.2 0.1 0.0 Net profit
+205.2% +68.7%
3.5 2.1 1.1 PAT margin %
+945 bps +172 bps
14.3% 12.6% 4.9% EPS (₹)
+212.5% +70.5%
0.75 0.44 0.24
Quality of profit
Pre-tax profit ₹4.7 Cr: core business ₹3.4 Cr, other income ₹1.2 Cr.
Core profit YoY: +114.5%
· reported profit +205.2%
Cash & debt
FY25 cash from operations ₹2.0 Cr:
18% of FY25 net profit of ₹11.1 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹14.4 ₹24.5
+69.6% above Net profit ₹1.9 ₹3.5
+81.5% above
539515
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Operating margin expanded 1607 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
-11.2% -2.5%
7.8 8.0 8.8 Operating profit
loss narrowed loss widened -2.5 -2.3 -4.3 OPM %
+1607 bps -382 bps
-32.7% -28.9% -48.8% Other income
-57.1% -43.7%
4.4 7.9 10.4 Net profit?
loss narrowed to loss -0.1 4.5 -0.8 PAT margin %
+837 bps -5696 bps
-0.6% 56.3% -9.0% EPS (₹)
from loss -99.0%
0.01 0.97 -0.21
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹4.4 Cr, other income ₹4.4 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹30.0 Cr.
Borrowings ₹153 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.5 ₹7.8
+71.6% above
539522
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit +850% above its own trend Operating margin expanded 1148 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
— +81.3%
15.0 8.2 1.1 Operating profit
from loss -74.7%
0.4 1.5 -0.1 OPM %
+1148 bps -1522 bps
2.5% 17.7% -9.0% Other income
+307.1% —
0.6 0.0 0.1 Net profit
— -65.5%
0.4 1.1 0.0 PAT margin %
+74 bps -1079 bps
2.5% 13.3% 1.8% EPS (₹)
— -65.9%
0.28 0.82 0.02
No EPS growth against Sep 2024: 3:1 bonus in Oct 2024.
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.1 Cr, other income ₹0.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹13.4 Cr:
-750% of FY25 net profit of ₹1.8 Cr.
Borrowings ₹24.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.2 ₹15.0
+573.9% above Net profit ₹0.0 ₹0.4
+850.0% above
539527
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit +48% above its own trend Operating margin contracted 107 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+19.7% +33.5%
12.7 9.5 10.6 Operating profit
+8.3% +120.3%
1.3 0.6 1.2 OPM %
-107 bps +404 bps
10.3% 6.2% 11.3% Other income
+36.7% +0.0%
0.4 0.4 0.3 Net profit
+0.0% +40.5%
1.0 0.7 1.0 PAT margin %
-162 bps +41 bps
8.2% 7.8% 9.8% EPS (₹)
+0.0% +40.6%
8.00 5.69 8.00
Quality of profit
Pre-tax profit ₹1.6 Cr: core business ₹1.1 Cr, other income ₹0.4 Cr.
Core profit YoY: +9.6%
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹5.4 Cr:
149% of FY25 net profit of ₹3.6 Cr.
Borrowings ₹0.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.3 ₹12.7
+73.4% above Net profit ₹0.7 ₹1.0
+48.0% above
539528
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -34% below its own trend Operating margin contracted 501 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -39%) FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+179.5% +76.4%
39.9 22.6 14.3 Operating profit
-38.0% +11.8%
0.6 0.5 0.9 OPM %
-501 bps -83 bps
1.4% 2.3% 6.4% Other income
— +0.0%
0.7 0.7 0.0 Net profit
+31.5% +4.3%
1.2 1.2 0.9 PAT margin %
-341 bps -209 bps
3.0% 5.1% 6.4% EPS (₹)
+31.6% +4.2%
0.25 0.24 0.19
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.6 Cr, other income ₹0.7 Cr.
Core profit YoY: -39.1%
· reported profit +31.5%
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹3.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹28.6 ₹39.9
+39.7% above Net profit ₹1.8 ₹1.2
-34.2% below
539546
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit -46% below its own trend Operating margin contracted 114 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
+232.5% +129.1%
16.9 7.4 5.1 Operating profit
to loss loss narrowed -0.1 -0.1 0.0 OPM %
-114 bps +73 bps
-0.4% -1.1% 0.8% Other income
-4.3% +8.9%
1.3 1.2 1.4 Net profit?
-10.7% +10.2%
1.1 1.0 1.2 PAT margin %
-1746 bps -691 bps
6.4% 13.3% 23.9% EPS (₹)
-36.9% +10.0%
0.99 0.90 1.57
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹0.2 Cr, other income ₹1.3 Cr.
Core profit YoY: loss widened
· reported profit -10.7%
Cash & debt
FY25 cash from operations −₹4.9 Cr:
-134% of FY25 net profit of ₹3.7 Cr.
Borrowings ₹1.9 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.8 ₹16.9
+117.1% above Net profit ₹2.0 ₹1.1
-46.2% below
539561
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -92% below its own trend Operating margin contracted 5263 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
-65.8% -53.3%
8.6 18.4 25.1 Operating profit
to loss loss narrowed -3.0 -4.2 4.5 OPM %
-5263 bps -1193 bps
-34.8% -22.9% 17.8% Other income
+296.3% -6.6%
3.2 3.5 0.8 Net profit
-96.1% from loss 0.1 -0.4 1.8 PAT margin %
-628 bps +283 bps
0.8% -2.0% 7.1% EPS (₹)
-100.0% —
0.00 0.00 0.02
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹3.2 Cr, other income ₹3.2 Cr.
Core profit YoY: to loss
· reported profit -96.1%
Cash & debt
FY25 cash from operations −₹1,079 Cr:
-70065% of FY25 net profit of ₹1.5 Cr.
Borrowings ₹1,088 Cr at Sep 2025, against ₹1,141 Cr at Mar 2025 (-5% ).
Against its own trend ?
Trend Actual Gap
Sales ₹12.5 ₹8.6
-31.6% below Net profit ₹0.9 ₹0.1
-92.1% below
539620
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -90% below its own trend Operating margin contracted 102 bps YoY 43% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-26.1% -60.9%
39.0 99.6 52.8 Operating profit
-33.5% -9.0%
3.5 3.9 5.3 OPM %
-102 bps +519 bps
9.1% 3.9% 10.1% Other income
-82.4% -93.2%
0.0 0.4 0.2 Net profit
-94.9% -86.7%
0.0 0.1 0.4 PAT margin %
-69 bps -10 bps
0.1% 0.2% 0.7% EPS (₹)
-100.0% -100.0%
0.00 0.02 0.05
Quality of profit
Pre-tax profit ₹0.1 Cr: core business ₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -95.8%
· reported profit -94.9%
Cash & debt
FY25 cash from operations ₹23.0 Cr:
644% of FY25 net profit of ₹3.6 Cr.
Borrowings ₹121 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹43.6 ₹39.0
-10.6% below Net profit ₹0.2 ₹0.0
-89.7% below
539659
· Q2 FY26 · Consolidated
M Cap —
P/E —
PEG —
Profit -74% below its own trend Operating margin expanded 326 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
+42.2% -7.3%
12.0 12.9 8.4 Operating profit
+68.5% -11.6%
2.5 2.8 1.5 OPM %
+326 bps -101 bps
20.9% 21.9% 17.7% Other income
-2.6% +31.0%
0.4 0.3 0.4 Net profit?
-84.6% -84.6%
0.0 0.1 0.1 PAT margin %
-137 bps -84 bps
0.2% 1.0% 1.5% EPS (₹)
-77.8% -71.4%
0.02 0.07 0.09
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.2 Cr, other income ₹0.4 Cr.
Core profit YoY: loss narrowed
· reported profit -84.6%
Cash & debt
FY25 cash from operations −₹1.5 Cr:
-227% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹49.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.8 ₹12.0
+2.1% in line Net profit ₹0.1 ₹0.0
-73.9% below
539661
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
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
— —
0.0 0.0 0.0 Operating profit
loss widened loss narrowed -0.0 -0.0 -0.0 Other income
— -40.0%
0.0 0.1 0.0 Net profit
from loss +0.0%
0.0 0.0 -0.0 EPS (₹)
from loss +0.0%
0.03 0.03 -0.03
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹0.0 Cr.
Borrowings nil at Mar 2025.
539760
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit -67% below its own trend Operating margin contracted 680 bps YoY 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+22.8% +27.0%
13.7 10.8 11.1 Operating profit
-34.6% -0.9%
1.1 1.1 1.6 OPM %
-680 bps -219 bps
7.8% 10.0% 14.6% Other income
— -9.5%
0.2 0.2 0.0 Net profit
-63.0% -44.4%
0.3 0.5 0.8 PAT margin %
-509 bps -283 bps
2.2% 5.0% 7.3% EPS (₹)
-62.5% -43.4%
0.30 0.53 0.80
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.2 Cr, other income ₹0.2 Cr.
Core profit YoY: -78.5%
· reported profit -63.0%
Cash & debt
FY25 cash from operations ₹2.9 Cr:
160% of FY25 net profit of ₹1.8 Cr.
Borrowings ₹10.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.5 ₹13.7
+1.2% in line Net profit ₹0.9 ₹0.3
-66.9% below
539762
· Q2 FY26 · Standalone
M Cap —
P/E —
PEG —
Profit +329% above its own trend Operating margin expanded 2945 bps YoY 34% 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
+1.0% -46.9%
16.4 30.9 16.2 Operating profit
from loss +22.1%
3.4 2.8 -1.4 OPM %
+2945 bps +1160 bps
20.5% 8.9% -8.9% Other income
+132.8% +186.5%
1.5 0.5 0.6 Net profit
+600.0% +62.4%
2.9 1.8 0.4 PAT margin %
+1532 bps +1205 bps
17.9% 5.9% 2.6% EPS (₹)
+603.7% +62.4%
1.90 1.17 0.27
Quality of profit
Pre-tax profit ₹4.4 Cr: core business ₹2.9 Cr, other income ₹1.5 Cr.
Core profit YoY: from loss
· reported profit +600.0%
Cash & debt
FY25 cash from operations −₹27.0 Cr:
-371% of FY25 net profit of ₹7.3 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.7 ₹16.4
-7.2% below Net profit ₹0.7 ₹2.9
+329.3% 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 14 Oct 2026, 04:19 IST
