Flash Finance

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.

Updated 13 Oct 2026, 15:08 IST 5073 declared
The next results season has started: 36 companies have filed results for the quarter ended 30 Sep 2026. See them →

Q2 FY26 scoreboard

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

Latest Q2 FY26 results 5073

Page 4 of 170

Tata Power Company Limited

TATAPOWER · Power Generation & Utilities · Q2 FY26 · Consolidated
M Cap
₹1,09,824 Cr
P/E
20.9
PEG
3.48
  • Operating margin contracted 262 bps YoY
  • 51% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -49%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -1.0%-13.8% 15,54518,03515,698
Operating profit -11.8%-20.2% 3,3024,1393,745
OPM % -262 bps-171 bps 21.2%22.9%23.9%
Other income -1.5%+39.7% 505362513
Net profit? +13.9%-1.3% 1,2451,2621,093
PAT margin % +105 bps+101 bps 8.0%7.0%7.0%
EPS (₹) -0.7%-13.0% 2.883.312.90

Quality of profit

Core 49%Other income & one-offs 51%

Pre-tax profit ₹1,680 Cr: core business ₹821 Cr, other income ₹505 Cr, exceptional & other items ₹353 Cr.

Core profit YoY: -49.2% · reported profit +13.9%

Cash & debt

FY25 cash from operations ₹12,680 Cr: 266% of FY25 net profit of ₹4,775 Cr.

Borrowings ₹62,866 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹16,431₹15,545 -5.4% below
Net profit₹1,190₹1,245 +4.6% in line
📊 Investor presentation (27 Jul) Detailed financials →

GAIL (India) Limited

GAIL · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹1,09,745 Cr
P/E
11.1
PEG
1.11
  • Profit -30% below its own trend
  • Operating margin contracted 188 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +4.9%+0.6% 35,53735,31133,889
Operating profit -12.1%-5.7% 3,4603,6693,937
OPM % -188 bps-65 bps 9.7%10.4%11.6%
Other income -19.8%-8.8% 516566643
Net profit? -26.1%-16.5% 1,9892,3822,690
PAT margin % -234 bps-115 bps 5.6%6.7%7.9%
EPS (₹) -26.8%-16.7% 3.003.604.10

Quality of profit

Core 80%Other income & one-offs 20%

Pre-tax profit ₹2,565 Cr: core business ₹2,049 Cr, other income ₹516 Cr.

Core profit YoY: -27.5% · reported profit -26.1%

Cash & debt

FY25 cash from operations ₹15,735 Cr: 126% of FY25 net profit of ₹12,463 Cr.

Borrowings ₹21,595 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹35,360₹35,537 +0.5% in line
Net profit₹2,844₹1,989 -30.1% below
📊 Investor presentation (31 Jul) Detailed financials →

Indian Bank

INDIANB · Public Sector Banks · Q2 FY26 · Consolidated
M Cap
₹1,09,656 Cr
P/E
8.6
PEG
0.31
  • Profit -15% below its own trend
  • Gross NPA down 88 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Total income +7.2%+1.9% 19,27118,90617,971
Net interest income +6.0%+3.6% 6,5896,3616,216
Other income +1.6%+0.9% 2,6432,6202,602
Operating profit (pre-provision) +1.9%+1.4% 4,8624,7924,773
Provisions -32.8%+6.9% 7396911,099
Net profit? +11.0%+36.5% 3,1082,2762,800
EPS (₹) +11.0%+36.5% 23.0716.9020.79
Cost-to-income % +147 bps+70 bps 47.3%46.6%45.9%
Gross NPA % -88 bps-41 bps 2.6%3.0%3.5%
Net NPA % -11 bps-2 bps 0.2%0.2%0.3%

Where profit came from

Pre-provision profit ₹4,862 Cr (+1.9% YoY); provisions ₹739 Cr (-32.8% YoY).

Net profit +11.0% YoY.

Against its own trend ?

TrendActualGap
NII₹6,651₹6,589 -0.9% in line
Net profit₹3,665₹3,108 -15.2% below
📊 Investor presentation (19 Aug) Detailed financials →

GE Vernova T&D India Limited

GVT&D · Electrical Equipment · Q2 FY26 · Standalone
M Cap
₹1,08,922 Cr
P/E
83.5
PEG
0.17
  • Operating margin expanded 725 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +38.8%+15.6% 1,5381,3301,108
Operating profit +93.2%+2.1% 396388205
OPM % +725 bps-343 bps 25.7%29.2%18.5%
Other income +375.0%+18.8% 19.016.04.0
Net profit +106.2%+2.7% 299291145
PAT margin % +635 bps-244 bps 19.4%21.9%13.1%
EPS (₹) +107.1%+2.9% 11.7011.375.65

Quality of profit

Core 95%Other income & one-offs 5%

Pre-tax profit ₹401 Cr: core business ₹382 Cr, other income ₹19.0 Cr.

Core profit YoY: +101.1% · reported profit +106.2%

Cash & debt

FY25 cash from operations ₹904 Cr: 148% of FY25 net profit of ₹609 Cr.

Borrowings ₹35.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,478₹1,538 +4.0% in line
Net profit₹290₹299 +3.1% in line
📊 Investor presentation (17 Sep) Detailed financials →

One 97 Communications Limited

PAYTM · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹1,08,351 Cr
P/E
—
PEG
—
  • Operating margin expanded 3114 bps YoY
  • All of pre-tax profit came from other income or one-off items
  • Exceptional items of ₹-190 Cr in the quarter
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +24.2%+7.5% 2,0611,9181,660
Operating profit from loss+97.2% 14171.5-403
OPM % +3114 bps+311 bps 6.8%3.7%-24.3%
Other income +27.2%-8.0% 222241174
Net profit? -97.7%-82.9% 21.0122930
PAT margin % -5502 bps-537 bps 1.0%6.4%56.0%
EPS (₹) -97.7%-82.8% 0.331.9214.59

Quality of profit

Pre-tax profit ₹30.0 Cr: core business −₹1.0 Cr, other income ₹222 Cr, exceptional & other items −₹191 Cr.

Core profit YoY: loss narrowed · reported profit -97.7%

Cash & debt

FY25 cash from operations −₹121 Cr.

Borrowings ₹160 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,247₹2,061 +65.3% above
Detailed financials →

Canara Bank

CANBK · Public Sector Banks · Q2 FY26 · Consolidated
M Cap
₹1,07,378 Cr
P/E
5.4
PEG
0.30
  • Gross NPA down 138 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Total income +10.5%+1.4% 42,01441,44238,006
Net interest income -1.0%+1.4% 9,6609,5319,755
Other income +27.1%+0.2% 9,9429,9197,824
Operating profit (pre-provision) +12.1%+0.4% 8,7058,6677,765
Provisions +4.5%-0.2% 2,3542,3592,252
Net profit? +18.3%+0.3% 4,8504,8364,100
EPS (₹) +15.8%+52.0% 5.353.524.62
Cost-to-income % -24 bps+16 bps 55.6%55.4%55.8%
Gross NPA % -138 bps-34 bps 2.4%2.7%3.7%
Net NPA % -45 bps-9 bps 0.5%0.6%1.0%

Where profit came from

Pre-provision profit ₹8,705 Cr (+12.1% YoY); provisions ₹2,354 Cr (+4.5% YoY).

Net profit +18.3% YoY.

Against its own trend ?

TrendActualGap
NII₹9,642₹9,660 +0.2% in line
Net profit₹4,720₹4,850 +2.8% in line
📊 Investor presentation (27 Jul) Detailed financials →

Lodha Developers Limited

LODHA · Construction & Infrastructure · Q2 FY26 · Consolidated
M Cap
₹1,06,887 Cr
P/E
25.9
PEG
0.45
  • Profit +14% above its own trend
  • Operating margin expanded 236 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +44.7%+8.8% 3,7983,4922,626
Operating profit +57.4%+12.6% 1,109984705
OPM % +236 bps+100 bps 29.2%28.2%26.8%
Other income +36.5%-39.5% 80.413358.9
Net profit? +86.7%+17.0% 790675423
PAT margin % +468 bps+146 bps 20.8%19.3%16.1%
EPS (₹) +85.9%+16.9% 7.906.764.25

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹961 Cr: core business ₹881 Cr, other income ₹80.4 Cr, exceptional & other items −₹0.5 Cr.

Core profit YoY: +75.6% · reported profit +86.7%

Cash & debt

FY25 cash from operations ₹1,566 Cr: 57% of FY25 net profit of ₹2,767 Cr.

Borrowings ₹7,094 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,440₹3,798 +10.4% above
Net profit₹696₹790 +13.5% above
📊 Investor presentation (24 Jul) Detailed financials →

Meesho Limited

MEESHO · E-Commerce & Internet Retail · Q2 FY26 · Consolidated
M Cap
₹1,06,819 Cr
P/E
—
PEG
—
₹ CrQoQ Sep 2025Jun 2025
Sales +22.8% 3,0742,504
Operating profit loss widened -456-264
OPM % -429 bps -14.8%-10.5%
Other income +300.0% 13634.0
Net profit? loss widened -411-289
PAT margin % -183 bps -13.4%-11.5%
EPS (₹) loss widened -2.11-1.49

Quality of profit

Pre-tax profit −₹330 Cr: core business −₹466 Cr, other income ₹136 Cr.

Detailed financials →

Cipla Limited

CIPLA · Pharmaceuticals · Q2 FY26 · Consolidated
M Cap
₹1,05,934 Cr
P/E
31.6
PEG
3.16
  • Profit -15% below its own trend
  • Operating margin contracted 178 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +7.6%+9.1% 7,5896,9577,051
Operating profit +0.5%+6.6% 1,8951,7781,886
OPM % -178 bps-59 bps 25.0%25.6%26.7%
Other income +41.1%+4.0% 269259191
Net profit? +3.7%+4.8% 1,3531,2921,305
PAT margin % -68 bps-73 bps 17.8%18.6%18.5%
EPS (₹) +3.7%+4.1% 16.7316.0716.13

Quality of profit

Core 86%Other income & one-offs 14%

Pre-tax profit ₹1,854 Cr: core business ₹1,585 Cr, other income ₹269 Cr.

Core profit YoY: -0.9% · reported profit +3.7%

Cash & debt

FY25 cash from operations ₹5,005 Cr: 95% of FY25 net profit of ₹5,269 Cr.

Borrowings ₹438 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹7,498₹7,589 +1.2% in line
Net profit₹1,587₹1,353 -14.7% below
📊 Investor presentation (23 Jul) Detailed financials →

Muthoot Finance Limited

MUTHOOTFIN · NBFC & Finance Companies · Q2 FY26 · Consolidated
M Cap
₹1,05,751 Cr
P/E
10.0
PEG
0.23
  • Profit +50% above its own trend
  • Gross NPA down 205 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Total income +47.9%+13.1% 7,3336,4854,958
Net interest income —+14.9% 4,5203,933—
Other income —+22.5% 241197—
Operating profit (pre-provision) —+18.6% 3,5402,984—
Provisions —-10.6% 295331—
Net profit? +82.6%+22.2% 2,4121,9741,321
EPS (₹) +90.4%+20.1% 60.2950.2231.67
Cost-to-income % —-208 bps 25.7%27.7%—
Gross NPA % -205 bps-33 bps 2.2%2.6%4.3%
Net NPA % -182 bps-24 bps 1.9%2.1%3.7%

Where profit came from

Pre-provision profit ₹3,540 Cr; provisions ₹295 Cr.

Net profit +82.6% YoY.

Against its own trend ?

TrendActualGap
Net profit₹1,610₹2,412 +49.8% above
📊 Investor presentation (01 Aug) Detailed financials →

Tata Motors Passenger Vehicles Limited

TMPV · Passenger Cars & Utility Vehicles · Q2 FY26 · Standalone
M Cap
₹1,04,760 Cr
P/E
1.3
PEG
—
  • Profit +999% above its own trend
  • Operating margin contracted 669 bps YoY
  • All of pre-tax profit came from other income or one-off items
  • Exceptional items of ₹82,318 Cr in the quarter
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -16.5%-17.4% 12,95515,68215,518
Operating profit -69.2%-74.0% 5071,9521,645
OPM % -669 bps-853 bps 3.9%12.4%10.6%
Other income +12.9%-93.6% 3325,159294
Net profit —— 82,0815,350477
EPS (₹) +889.9%-6.0% 13.6614.531.38

Quality of profit

Pre-tax profit ₹82,456 Cr: core business −₹194 Cr, other income ₹332 Cr, exceptional & other items ₹82,318 Cr.

Core profit YoY: to loss

Against its own trend ?

TrendActualGap
Sales₹13,576₹12,955 -4.6% in line
Net profit₹268₹82,081 +999.0% above
📊 Investor presentation (13 Aug) Detailed financials →

Aditya Birla Capital Limited

ABCAPITAL · NBFC & Finance Companies · Q2 FY26 · Consolidated
M Cap
₹1,04,111 Cr
P/E
24.9
PEG
—
  • Profit -14% below its own trend
  • Gross NPA down 82 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Total income +2.4%+11.3% 10,6099,53110,362
Net interest income +24.1%+7.8% 2,1992,0391,772
Other income -9.9%+17.9% 5,6074,7566,221
Operating profit (pre-provision) -8.5%+2.8% 1,5411,4991,685
Provisions +14.1%-4.9% 407428357
Net profit? -11.8%+3.7% 8828511,001
EPS (₹) -14.8%+2.2% 3.273.203.84
Cost-to-income % +134 bps+232 bps 80.3%77.9%78.9%
Gross NPA % -82 bps-59 bps 1.7%2.3%2.5%
Net NPA % -41 bps-40 bps 0.9%1.4%1.4%

Where profit came from

Pre-provision profit ₹1,541 Cr (-8.5% YoY); provisions ₹407 Cr (+14.1% YoY).

Net profit -11.8% YoY.

Against its own trend ?

TrendActualGap
NII₹1,942₹2,199 +13.2% above
Net profit₹1,023₹882 -13.8% below
📊 Investor presentation (31 Jul) Detailed financials →

Vedanta Limited

VEDL · Mining & Minerals · Q2 FY26 · Consolidated
M Cap
₹1,03,438 Cr
P/E
3.6
PEG
—
  • Profit -63% below its own trend
  • Operating margin expanded 247 bps YoY
  • Core business grew faster than reported profit (core profit +44%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +5.9%+5.4% 39,86837,82437,634
Operating profit +16.0%+14.9% 11,3969,9189,828
OPM % +247 bps+236 bps 28.6%26.2%26.1%
Other income to lossto loss -1,4719851,300
Net profit? -37.9%-21.9% 3,4794,4575,603
PAT margin % -616 bps-306 bps 8.7%11.8%14.9%
EPS (₹) -59.1%-43.6% 4.608.1511.26

Quality of profit

Pre-tax profit ₹4,947 Cr: core business ₹6,418 Cr, other income −₹1,471 Cr.

Core profit YoY: +43.7% · reported profit -37.9%

Cash & debt

FY25 cash from operations ₹39,562 Cr: 193% of FY25 net profit of ₹20,535 Cr.

Borrowings ₹91,479 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹40,907₹39,868 -2.5% in line
Net profit₹9,526₹3,479 -63.5% below
📊 Investor presentation (30 Jul) Detailed financials →

JINDAL STEEL LIMITED

JINDALSTEL · Iron & Steel · Q2 FY26 · Consolidated
M Cap
₹1,03,021 Cr
P/E
38.0
PEG
38.03
  • Profit +19% above its own trend
  • Operating margin contracted 166 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +4.4%-5.0% 11,70812,32511,213
Operating profit -4.4%-29.5% 2,1032,9842,200
OPM % -166 bps-625 bps 18.0%24.2%19.6%
Other income -37.1%-58.5% 22.053.035.0
Net profit? -26.2%-57.6% 6351,496860
PAT margin % -225 bps-671 bps 5.4%12.1%7.7%
EPS (₹) -25.8%-57.3% 6.2614.658.44

Quality of profit

Core 100%Other income & one-offs 0%

Pre-tax profit ₹982 Cr: core business ₹982 Cr, other income ₹22.0 Cr, exceptional & other items −₹22.0 Cr.

Core profit YoY: -16.6% · reported profit -26.2%

Cash & debt

FY25 cash from operations ₹10,824 Cr: 380% of FY25 net profit of ₹2,845 Cr.

Borrowings ₹18,406 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹10,554₹11,708 +10.9% above
Net profit₹532₹635 +19.3% above
📊 Investor presentation (24 Jul) Detailed financials →

The Indian Hotels Company Limited

INDHOTEL · Hotels & Resorts · Q2 FY26 · Consolidated
M Cap
₹1,02,926 Cr
P/E
44.6
PEG
2.03
  • Profit -58% below its own trend
  • Core business grew faster than reported profit (core profit +14%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +11.8%-0.0% 2,0412,0411,826
Operating profit +13.8%-1.0% 570576501
OPM % +50 bps-29 bps 27.9%28.2%27.4%
Other income -77.5%+36.5% 83.461.1371
Net profit? -45.4%-3.4% 318329583
PAT margin % -1633 bps-54 bps 15.6%16.1%31.9%
EPS (₹) -48.7%-3.8% 2.002.083.90

Quality of profit

Core 82%Other income & one-offs 18%

Pre-tax profit ₹453 Cr: core business ₹369 Cr, other income ₹83.4 Cr.

Core profit YoY: +14.0% · reported profit -45.4%

Cash & debt

FY25 cash from operations ₹2,194 Cr: 108% of FY25 net profit of ₹2,038 Cr.

Borrowings ₹3,084 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,341₹2,041 -12.8% below
Net profit₹761₹318 -58.2% below
📊 Investor presentation (24 Aug) Detailed financials →

Dr. Reddy's Laboratories Limited

DRREDDY · Pharmaceuticals · Q2 FY26 · Consolidated
M Cap
₹1,02,408 Cr
P/E
31.3
PEG
—
  • Operating margin contracted 601 bps YoY
  • 37% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -28%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +9.8%+3.0% 8,8058,5458,016
Operating profit -15.6%+0.2% 1,7511,7482,076
OPM % -601 bps-56 bps 19.9%20.5%25.9%
Other income -44.5%-27.4% 174240314
Net profit? +6.3%+1.2% 1,4271,4101,342
PAT margin % -54 bps-29 bps 16.2%16.5%16.7%
EPS (₹) +14.7%+1.3% 17.2617.0415.05

Quality of profit

Core 63%Other income & one-offs 37%

Pre-tax profit ₹1,835 Cr: core business ₹1,156 Cr, other income ₹174 Cr, exceptional & other items ₹505 Cr.

Core profit YoY: -27.9% · reported profit +6.3%

Cash & debt

FY25 cash from operations ₹4,643 Cr: 81% of FY25 net profit of ₹5,725 Cr.

Borrowings ₹4,677 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹9,313₹8,805 -5.5% below
Net profit₹1,363₹1,427 +4.7% in line
📊 Investor presentation (22 Jul) Detailed financials →

Lloyds Metals And Energy Limited

LLOYDSME · Mining & Minerals · Q2 FY26 · Consolidated
M Cap
₹1,01,761 Cr
P/E
20.7
PEG
0.34
  • Profit +62% above its own trend
  • Operating margin expanded 369 bps YoY
  • Core business grew faster than reported profit (core profit +120%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +167.6%+53.2% 3,6512,3841,364
Operating profit +207.3%+31.3% 1,043794339
OPM % +369 bps-475 bps 28.6%33.3%24.9%
Other income -47.8%+95.1% 55.028.2105
Net profit? +88.2%-11.6% 567642301
PAT margin % -655 bps-1139 bps 15.5%26.9%22.1%
EPS (₹) +84.9%-10.3% 10.8712.125.88

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹756 Cr: core business ₹700 Cr, other income ₹55.0 Cr, exceptional & other items ₹1.0 Cr.

Core profit YoY: +120.0% · reported profit +88.2%

Cash & debt

FY25 cash from operations ₹1,207 Cr: 83% of FY25 net profit of ₹1,450 Cr.

Borrowings ₹1,073 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,271₹3,651 +187.3% above
Net profit₹350₹567 +61.8% above
📊 Investor presentation (10 Aug) Detailed financials →

Marico Limited

MARICO · Edible Oils · Q2 FY26 · Consolidated
M Cap
₹1,01,554 Cr
P/E
56.0
PEG
5.09
  • Profit -13% below its own trend
  • Operating margin contracted 351 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +30.7%+6.8% 3,4823,2592,664
Operating profit +7.3%-14.5% 560655522
OPM % -351 bps-402 bps 16.1%20.1%19.6%
Other income -40.2%-12.5% 49.056.082.0
Net profit? -0.2%-15.8% 432513433
PAT margin % -385 bps-333 bps 12.4%15.7%16.3%
EPS (₹) -0.6%-16.9% 3.243.903.26

Quality of profit

Core 91%Other income & one-offs 9%

Pre-tax profit ₹550 Cr: core business ₹501 Cr, other income ₹49.0 Cr.

Core profit YoY: +6.6% · reported profit -0.2%

Cash & debt

FY25 cash from operations ₹1,363 Cr: 91% of FY25 net profit of ₹1,495 Cr.

Borrowings ₹554 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,133₹3,482 +11.1% above
Net profit₹494₹432 -12.5% below
📊 Investor presentation (13 Feb) Detailed financials →

Indian Railway Finance Corporation Limited

IRFC · NBFC & Finance Companies · Q2 FY26 · Standalone
M Cap
₹1,01,281 Cr
P/E
14.1
PEG
4.70
  • Provisions up 755% YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Total income -7.7%-7.9% 6,3726,9186,900
Net interest income +10.7%+2.9% 1,8271,7771,651
Other income -97.7%-99.9% 0.017.20.9
Operating profit (pre-provision) +10.4%+1.7% 1,7811,7521,613
Provisions +755.3%-34.1% 4.06.10.5
Net profit +10.2%+1.8% 1,7771,7461,613
EPS (₹) +10.6%+1.5% 1.361.341.23
Cost-to-income % +22 bps+20 bps 2.5%2.3%2.3%

Where profit came from

Pre-provision profit ₹1,781 Cr (+10.4% YoY); provisions ₹4.0 Cr (+755.3% YoY).

Net profit +10.2% YoY.

Against its own trend ?

TrendActualGap
NII₹1,682₹1,827 +8.7% above
Net profit₹1,659₹1,777 +7.1% in line
Detailed financials →

Mankind Pharma Limited

MANKIND · Pharmaceuticals · Q2 FY26 · Consolidated
M Cap
₹99,131 Cr
P/E
48.0
PEG
2.82
  • Operating margin contracted 271 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +20.2%+3.6% 3,6973,5703,077
Operating profit +8.4%+8.8% 921847850
OPM % -271 bps+120 bps 24.9%23.7%27.6%
Other income -16.0%+15.0% 91.979.9109
Net profit? -21.1%+17.0% 520445659
PAT margin % -735 bps+162 bps 14.1%12.5%21.4%
EPS (₹) -24.0%+16.7% 12.3910.6216.31

Quality of profit

Core 85%Other income & one-offs 15%

Pre-tax profit ₹624 Cr: core business ₹530 Cr, other income ₹91.9 Cr, exceptional & other items ₹2.3 Cr.

Core profit YoY: -28.1% · reported profit -21.1%

Cash & debt

FY25 cash from operations ₹2,413 Cr: 120% of FY25 net profit of ₹2,011 Cr.

Borrowings ₹8,511 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,804₹3,697 -2.8% in line
Net profit₹569₹520 -8.6% in line
📊 Investor presentation (30 Jul) Detailed financials →

Indus Towers Limited

INDUSTOWER · Electrical Equipment · Q2 FY26 · Consolidated
M Cap
₹99,067 Cr
P/E
13.9
PEG
0.28
  • Profit -38% below its own trend
  • Operating margin contracted 882 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +9.7%+1.6% 8,1888,0587,465
Operating profit -5.2%+6.1% 4,6134,3504,864
OPM % -882 bps+235 bps 56.3%54.0%65.2%
Other income +13.1%-21.1% 129163114
Net profit? -17.3%+5.9% 1,8391,7372,224
PAT margin % -733 bps+91 bps 22.5%21.6%29.8%
EPS (₹) -17.3%+5.8% 6.976.598.43

Quality of profit

Core 95%Other income & one-offs 5%

Pre-tax profit ₹2,478 Cr: core business ₹2,350 Cr, other income ₹129 Cr.

Core profit YoY: -18.0% · reported profit -17.3%

Cash & debt

FY25 cash from operations ₹19,645 Cr: 198% of FY25 net profit of ₹9,932 Cr.

Borrowings ₹21,156 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹7,923₹8,188 +3.4% in line
Net profit₹2,977₹1,839 -38.2% below
Detailed financials →

Hero MotoCorp Limited

HEROMOTOCO · Two & Three Wheelers · Q2 FY26 · Consolidated
M Cap
₹98,810 Cr
P/E
17.1
PEG
0.59
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +16.6%+25.6% 12,2189,72810,483
Operating profit +21.3%+31.9% 1,8641,4131,536
OPM % +60 bps+73 bps 15.3%14.5%14.7%
Other income +0.7%-22.4% 240310239
Net profit? +23.9%-22.6% 1,3211,7061,066
PAT margin % +64 bps-672 bps 10.8%17.5%10.2%
EPS (₹) +23.0%-23.3% 65.4185.2653.19

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹1,777 Cr: core business ₹1,635 Cr, other income ₹240 Cr, exceptional & other items −₹98.0 Cr.

Core profit YoY: +24.6% · reported profit +23.9%

Cash & debt

FY25 cash from operations ₹4,297 Cr: 98% of FY25 net profit of ₹4,376 Cr.

Borrowings ₹700 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹10,928₹12,218 +11.8% above
Net profit₹1,225₹1,321 +7.8% in line
📊 Investor presentation (07 Aug) Detailed financials →

Aurobindo Pharma Limited

AUROPHARMA · Pharmaceuticals · Q2 FY26 · Consolidated
M Cap
₹98,211 Cr
P/E
26.5
PEG
1.15
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +6.3%+5.3% 8,2867,8687,796
Operating profit +7.1%+4.7% 1,6781,6031,566
OPM % +16 bps-12 bps 20.3%20.4%20.1%
Other income -11.3%+14.5% 121105136
Net profit? +3.8%+2.9% 848824817
PAT margin % -24 bps-24 bps 10.2%10.5%10.5%
EPS (₹) +4.4%+2.9% 14.6114.2014.00

Quality of profit

Core 90%Other income & one-offs 10%

Pre-tax profit ₹1,276 Cr: core business ₹1,154 Cr, other income ₹121 Cr, exceptional & other items ₹1.7 Cr.

Core profit YoY: +7.7% · reported profit +3.8%

Cash & debt

FY25 cash from operations ₹3,925 Cr: 113% of FY25 net profit of ₹3,484 Cr.

Borrowings ₹8,263 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹8,440₹8,286 -1.8% in line
Net profit₹774₹848 +9.6% in line
📊 Investor presentation (05 Aug) Detailed financials →

FSN E-Commerce Ventures Limited

NYKAA · Trading & Distribution · Q2 FY26 · Consolidated
M Cap
₹97,419 Cr
P/E
375.0
PEG
3.07
  • Profit +50% above its own trend
  • Operating margin contracted 237 bps YoY
  • All of pre-tax profit came from other income or one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +25.1%+8.9% 2,3462,1551,875
Operating profit -28.3%+23.1% 74.660.6104
OPM % -237 bps+37 bps 3.2%2.8%5.5%
Other income —-21.1% 2.83.60.0
Net profit? +153.8%+37.5% 33.024.013.0
PAT margin % +71 bps+29 bps 1.4%1.1%0.7%
EPS (₹) +200.0%+50.0% 0.120.080.04

Quality of profit

Pre-tax profit ₹55.4 Cr: core business −₹25.4 Cr, other income ₹2.8 Cr, exceptional & other items ₹78.0 Cr.

Core profit YoY: to loss · reported profit +153.8%

Cash & debt

FY25 cash from operations ₹467 Cr: 649% of FY25 net profit of ₹72.0 Cr.

Borrowings ₹1,321 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,325₹2,346 +0.9% in line
Net profit₹22.0₹33.0 +50.2% above
📊 Investor presentation (04 Aug) Detailed financials →

United Spirits Limited

UNITDSPR · Breweries & Distilleries · Q2 FY26 · Consolidated
M Cap
₹95,836 Cr
P/E
50.9
PEG
2.21
  • Profit +39% above its own trend
  • Operating margin expanded 315 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +11.6%+5.0% 3,1733,0212,844
Operating profit +31.5%+2.5% 660644502
OPM % +315 bps-52 bps 20.8%21.3%17.7%
Other income +50.0%+12.5% 81.072.054.0
Net profit? +36.1%+11.3% 464417341
PAT margin % +263 bps+82 bps 14.6%13.8%12.0%
EPS (₹) +36.0%+11.2% 6.535.874.80

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹624 Cr: core business ₹574 Cr, other income ₹81.0 Cr, exceptional & other items −₹31.0 Cr.

Core profit YoY: +40.7% · reported profit +36.1%

Cash & debt

FY25 cash from operations ₹1,947 Cr: 123% of FY25 net profit of ₹1,582 Cr.

Borrowings ₹480 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,177₹3,173 +45.8% above
Net profit₹334₹464 +38.7% above
📊 Investor presentation (15 May) Detailed financials →

Indiamart Intermesh Limited

INDIAMART · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹95,759 Cr
P/E
194.2
PEG
10.22
  • Profit -64% below its own trend
  • Operating margin contracted 189 bps YoY
  • Core business grew faster than reported profit (core profit +9%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +12.4%+5.1% 391372348
Operating profit +6.3%-2.8% 130134122
OPM % -189 bps-271 bps 33.2%35.9%35.1%
Other income -84.5%-89.0% 10.292.466.0
Net profit? -38.7%-46.1% 82.7154135
PAT margin % -1764 bps-2010 bps 21.2%41.3%38.8%
EPS (₹) -38.9%-46.2% 13.7725.5922.52

Quality of profit

Pre-tax profit ₹119 Cr: core business ₹122 Cr, other income ₹10.2 Cr, exceptional & other items −₹13.4 Cr.

Core profit YoY: +8.7% · reported profit -38.7%

Cash & debt

FY25 cash from operations ₹623 Cr: 68% of FY25 net profit of ₹921 Cr.

Borrowings ₹33.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹407₹391 -4.0% in line
Net profit₹231₹82.7 -64.2% below
📊 Investor presentation (21 Jul) Detailed financials →

TATA CONSUMER PRODUCTS LIMITED

TATACONSUM · Tea & Coffee · Q2 FY26 · Consolidated
M Cap
₹94,891 Cr
P/E
57.1
PEG
4.39
  • Profit -26% below its own trend
  • Operating margin contracted 313 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +17.8%+40.7% 4,9663,5294,214
Operating profit -7.0%+66.9% 582349626
OPM % -313 bps+184 bps 11.7%9.9%14.9%
Other income +81.3%-16.0% 34.541.019.0
Net profit? +10.9%-43.0% 407714367
PAT margin % -51 bps-1204 bps 8.2%20.2%8.7%
EPS (₹) +11.1%+21.0% 4.093.383.68

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹523 Cr: core business ₹489 Cr, other income ₹34.5 Cr.

Core profit YoY: +29.3% · reported profit +10.9%

Cash & debt

FY25 cash from operations ₹2,057 Cr: 173% of FY25 net profit of ₹1,186 Cr.

Borrowings ₹2,393 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹5,016₹4,966 -1.0% in line
Net profit₹554₹407 -26.5% below
📊 Investor presentation (24 Jul) Detailed financials →

GMR AIRPORTS LIMITED

GMRAIRPORT · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹94,503 Cr
P/E
200.2
PEG
4.66
  • Turnaround: profit against a loss a year ago
  • Operating margin expanded 500 bps YoY
  • All of pre-tax profit came from other income or one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +47.1%+14.5% 3,6703,2052,495
Operating profit +68.5%+24.2% 1,4471,165859
OPM % +500 bps+308 bps 39.4%36.3%34.4%
Other income -50.0%-37.5% 130208260
Net profit? from lossfrom loss 35.0-137-429
PAT margin % +1815 bps+523 bps 1.0%-4.3%-17.2%
EPS (₹) loss narrowedloss narrowed -0.04-0.20-0.27

Quality of profit

Pre-tax profit ₹103 Cr: core business −₹27.0 Cr, other income ₹130 Cr.

Core profit YoY: loss narrowed

Cash & debt

FY25 cash from operations ₹3,443 Cr.

Borrowings ₹38,218 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,994₹3,670 +22.6% above
📊 Investor presentation (12 Aug) Detailed financials →

Persistent Systems Limited

PERSISTENT · IT Services & Software · Q2 FY26 · Consolidated
M Cap
₹90,411 Cr
P/E
47.0
PEG
1.68
  • Profit +13% above its own trend
  • Operating margin expanded 248 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +23.6%+7.4% 3,5813,3342,897
Operating profit +42.1%+31.9% 683518481
OPM % +248 bps+354 bps 19.1%15.5%16.6%
Other income +11.3%-5.3% 51.854.746.5
Net profit? +45.1%+10.9% 471425325
PAT margin % +195 bps+42 bps 13.2%12.7%11.2%
EPS (₹) +43.0%+11.6% 30.3127.1721.19

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹617 Cr: core business ₹565 Cr, other income ₹51.8 Cr.

Core profit YoY: +45.6% · reported profit +45.1%

Cash & debt

FY25 cash from operations ₹1,157 Cr: 83% of FY25 net profit of ₹1,400 Cr.

Borrowings ₹311 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,540₹3,581 +1.2% in line
Net profit₹416₹471 +13.4% above
📊 Investor presentation (19 Sep) Detailed financials →

Oracle Financial Services Software Limited

OFSS · IT Services & Software · Q2 FY26 · Consolidated
M Cap
₹90,218 Cr
P/E
26.4
PEG
2.03
  • Profit -14% below its own trend
  • Operating margin contracted 262 bps YoY
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +6.9%-3.4% 1,7891,8521,674
Operating profit +0.6%-10.7% 755846751
OPM % -262 bps-346 bps 42.2%45.7%44.8%
Other income -36.6%-6.9% 66.371.2105
Net profit? -5.5%-14.9% 546642578
PAT margin % -398 bps-414 bps 30.5%34.7%34.5%
EPS (₹) -5.7%-14.9% 62.8473.8766.61

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹797 Cr: core business ₹731 Cr, other income ₹66.3 Cr.

Core profit YoY: +0.9% · reported profit -5.5%

Cash & debt

FY25 cash from operations ₹2,199 Cr: 92% of FY25 net profit of ₹2,380 Cr.

Borrowings ₹46.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,765₹1,789 +1.4% in line
Net profit₹633₹546 -13.7% below
Detailed financials →

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.

Results calendarWho reports results today, tomorrow and this week. Strong quarterly resultsCompanies whose latest quarter showed profit up 30% or more. Live announcementsEvery NSE/BSE filing with an AI read, as it arrives. Company fundamentalsTen years of quarterly and annual financials.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI