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 ₹6,253 Cr
P/E 33.4
PEG 4.77
Profit +999% above its own trend Operating margin expanded 303 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
+12.9% +9.1%
941 863 834 Operating profit
+58.1% +21.8%
99.6 81.7 63.0 OPM %
+303 bps +111 bps
10.6% 9.5% 7.6% Other income
+178.1% -11.0%
34.7 39.0 12.5 Net profit?
— +6.0%
50.9 48.1 0.5 PAT margin %
+536 bps -16 bps
5.4% 5.6% 0.1% EPS (₹)
— +5.7%
3.71 3.51 0.03
Quality of profit
Pre-tax profit ₹81.2 Cr: core business ₹46.5 Cr, other income ₹34.7 Cr.
Core profit YoY: +190.9%
Cash & debt
FY25 cash from operations ₹185 Cr:
165% of FY25 net profit of ₹112 Cr.
Borrowings ₹817 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹969 ₹941
-2.9% in line Net profit ₹0.3 ₹50.9
+999.0% above
M Cap ₹6,231 Cr
P/E 8.1
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
-39.8%
323 536 Operating profit
-81.0%
67.9 357 OPM %
-4555 bps
21.1% 66.6% Other income
+795.5%
278 31.0 Net profit?
-12.4%
206 235 PAT margin %
+1999 bps
63.8% 43.8% EPS (₹)
-12.5%
3.35 3.83
Quality of profit
Pre-tax profit ₹188 Cr: core business −₹89.8 Cr, other income ₹278 Cr.
M Cap ₹6,205 Cr
P/E 108.4
PEG 1.46
Profit -55% below its own trend Operating margin expanded 202 bps YoY 25% 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
-25.5% +34.8%
118 87.5 158 Operating profit
-11.4% +25.0%
15.0 12.0 16.9 OPM %
+202 bps -100 bps
12.7% 13.7% 10.7% Other income
-49.4% +0.0%
2.0 2.0 4.0 Net profit?
-12.3% +42.1%
8.0 5.6 9.1 PAT margin %
+102 bps +35 bps
6.8% 6.4% 5.8% EPS (₹)
-15.6% +35.1%
4.93 3.65 5.84
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹9.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +3.6%
· reported profit -12.3%
Cash & debt
FY25 cash from operations −₹26.0 Cr:
-92% of FY25 net profit of ₹28.1 Cr.
Borrowings ₹185 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹118
-26.8% below Net profit ₹17.9 ₹8.0
-55.3% below
M Cap ₹6,191 Cr
P/E 12.5
PEG 0.44
Profit -29% below its own trend Operating margin contracted 195 bps YoY 74% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -52%) FY25 operating cash flow was only 50% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+19.4% +8.1%
380 352 318 Operating profit
+4.6% -0.2%
52.0 52.1 49.7 OPM %
-195 bps -114 bps
13.7% 14.8% 15.6% Other income
-5.4% -53.2%
2.1 4.5 2.2 Net profit?
-14.3% -3.3%
30.0 31.0 35.0 PAT margin %
-311 bps -93 bps
7.9% 8.8% 11.0% EPS (₹)
-15.4% -4.4%
5.18 5.42 6.12
Quality of profit
Pre-tax profit ₹81.9 Cr: core business ₹21.4 Cr, other income ₹2.1 Cr, exceptional & other items ₹58.5 Cr.
Core profit YoY: -52.1%
· reported profit -14.3%
Cash & debt
FY25 cash from operations ₹64.0 Cr:
50% of FY25 net profit of ₹128 Cr.
Borrowings ₹338 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹369 ₹380
+3.0% in line Net profit ₹42.2 ₹30.0
-29.0% below
M Cap ₹5,984 Cr
P/E 72.4
PEG 0.62
Turnaround: profit against a loss a year ago Operating margin contracted 165 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
+11.8% +6.3%
291 273 260 Operating profit
-11.8% -21.2%
17.9 22.7 20.3 OPM %
-165 bps -215 bps
6.2% 8.3% 7.8% Other income
+628.6% +263.3%
10.7 2.9 1.5 Net profit?
from loss -5.5%
4.2 4.5 -0.3 PAT margin %
+158 bps -18 bps
1.5% 1.6% -0.1% EPS (₹)
from loss -25.1%
2.96 3.95 -0.26
Quality of profit
Pre-tax profit ₹8.8 Cr: core business −₹1.9 Cr, other income ₹10.7 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹29.0 Cr.
Borrowings ₹187 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹306 ₹291
-5.0% in line
M Cap ₹5,981 Cr
P/E 41.3
PEG —
Profit -65% below its own trend Operating margin contracted 934 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-13.1% -0.3%
1,353 1,357 1,557 Operating profit
-68.5% -43.4%
71.9 127 228 OPM %
-934 bps -404 bps
5.3% 9.4% 14.7% Other income
-38.5% -15.4%
13.5 15.9 21.9 Net profit
-82.7% -62.5%
26.5 70.5 153 PAT margin %
-788 bps -324 bps
2.0% 5.2% 9.8% EPS (₹)
-82.8% -62.3%
0.29 0.77 adj. 1.68
EPS restated for the ₹10 to ₹2 split of Jan 2025: Sep 2024 ₹8.42 to ₹1.68.
Quality of profit
Pre-tax profit ₹39.8 Cr: core business ₹26.3 Cr, other income ₹13.5 Cr.
Core profit YoY: -86.2%
· reported profit -82.7%
Cash & debt
FY25 cash from operations ₹311 Cr:
56% of FY25 net profit of ₹557 Cr.
Borrowings ₹559 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,422 ₹1,353
-4.8% in line Net profit ₹76.6 ₹26.5
-65.4% below
M Cap ₹5,913 Cr
P/E 8.5
PEG —
Profit -20% below its own trend 34% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 14% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+21.0% +45.9%
3,187 2,184 2,635 Operating profit
+18.7% +74.5%
337 193 284 OPM %
-20 bps +173 bps
10.6% 8.8% 10.8% Other income
-6.2% +242.4%
143 41.8 152 Net profit?
+8.7% +133.8%
324 139 298 PAT margin %
-115 bps +382 bps
10.2% 6.3% 11.3% EPS (₹)
+8.5% +133.6%
8.13 3.48 7.49
Quality of profit
Pre-tax profit ₹428 Cr: core business ₹284 Cr, other income ₹143 Cr, exceptional & other items ₹1.2 Cr.
Core profit YoY: +21.7%
· reported profit +8.7%
Cash & debt
FY25 cash from operations ₹83.0 Cr:
14% of FY25 net profit of ₹591 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,620 ₹3,187
+21.7% above Net profit ₹406 ₹324
-20.1% below
M Cap ₹5,752 Cr
P/E 13.4
PEG —
Profit -33% below its own trend 36% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+23.4% +57.0%
5,293 3,371 4,290 Operating profit
+6.4% +35.9%
214 158 202 OPM %
-65 bps -63 bps
4.0% 4.7% 4.7% Other income
+20.1% +31.1%
51.1 39.0 42.6 Net profit?
+33.4% +93.6%
105 54.4 79.0 PAT margin %
+15 bps +38 bps
2.0% 1.6% 1.8% EPS (₹)
+33.6% +92.9%
1.91 0.99 1.43
Quality of profit
Pre-tax profit ₹141 Cr: core business ₹89.8 Cr, other income ₹51.1 Cr.
Core profit YoY: +41.6%
· reported profit +33.4%
Cash & debt
FY25 cash from operations ₹2,364 Cr:
976% of FY25 net profit of ₹242 Cr.
Borrowings ₹2,762 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4,038 ₹5,293
+31.1% above Net profit ₹158 ₹105
-33.3% below
M Cap ₹5,699 Cr
P/E 69.7
PEG 4.65
Profit -43% below its own trend Operating margin expanded 242 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-18.8% +35.0%
118 87.7 146 Operating profit
-4.5% +112.8%
19.1 9.0 20.0 OPM %
+242 bps +589 bps
16.1% 10.2% 13.7% Other income
+10.2% +17.0%
6.6 5.7 6.0 Net profit?
-31.9% +67.7%
16.3 9.7 24.0 PAT margin %
-264 bps +269 bps
13.8% 11.1% 16.4% EPS (₹)
-31.3% +67.5%
1.91 1.14 2.78
Quality of profit
Pre-tax profit ₹23.6 Cr: core business ₹17.0 Cr, other income ₹6.6 Cr.
Core profit YoY: -5.5%
· reported profit -31.9%
Cash & debt
FY25 cash from operations ₹53.0 Cr:
65% of FY25 net profit of ₹81.2 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹162 ₹118
-26.9% below Net profit ₹28.8 ₹16.3
-43.3% below
M Cap ₹5,570 Cr
P/E 11.1
PEG 0.09
Profit -45% below its own trend 50% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +9%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.3% +1.7%
303 298 285 Operating profit
+6.1% +1.2%
87.0 86.0 82.0 OPM %
-6 bps -15 bps
28.7% 28.9% 28.8% Other income
-36.0% -42.5%
73.0 127 114 Net profit
-22.7% -25.6%
119 160 154 PAT margin %
-1476 bps -1442 bps
39.3% 53.7% 54.0% EPS (₹)
-22.5% -25.2%
14.04 18.77 18.12
Quality of profit
Pre-tax profit ₹147 Cr: core business ₹74.0 Cr, other income ₹73.0 Cr.
Core profit YoY: +8.8%
· reported profit -22.7%
Cash & debt
FY25 cash from operations ₹311 Cr:
53% of FY25 net profit of ₹584 Cr.
Borrowings ₹100 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹307 ₹303
-1.2% in line Net profit ₹215 ₹119
-44.5% below
M Cap ₹5,558 Cr
P/E 19.1
PEG 1.19
Profit -57% below its own trend Operating margin contracted 647 bps YoY 53% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.9% -27.0%
473 648 514 Operating profit
-51.5% -75.7%
34.0 140 70.2 OPM %
-647 bps -1442 bps
7.2% 21.6% 13.7% Other income
-39.5% -41.7%
21.0 36.0 34.7 Net profit?
-61.1% -76.9%
28.0 121 72.0 PAT margin %
-810 bps -1275 bps
5.9% 18.7% 14.0% EPS (₹)
-60.7% -76.6%
1.74 7.45 4.43
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹18.0 Cr, other income ₹21.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -67.4%
· reported profit -61.1%
Cash & debt
FY25 cash from operations ₹318 Cr:
119% of FY25 net profit of ₹267 Cr.
Borrowings ₹21.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹532 ₹473
-11.2% below Net profit ₹65.8 ₹28.0
-57.4% below
M Cap ₹5,554 Cr
P/E 82.1
PEG 1.16
48% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.0% +2.7%
2,663 2,592 2,513 Operating profit
+7.8% +2.7%
182 177 169 OPM %
+12 bps -0 bps
6.8% 6.8% 6.7% Other income
-58.1% -93.5%
12.0 186 28.6 Net profit?
+50.8% -77.5%
16.0 71.2 10.6 PAT margin %
+18 bps -214 bps
0.6% 2.7% 0.4% EPS (₹)
+66.7% -78.1%
0.35 1.60 0.21
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹12.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +50.8%
Cash & debt
FY25 cash from operations ₹672 Cr.
Borrowings ₹2,088 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,677 ₹2,663
-0.5% in line
M Cap ₹5,529 Cr
P/E 19.6
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 299 bps YoY 72% 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
+16.5% +7.1%
2,014 1,882 1,728 Operating profit
— +24.5%
66.0 53.0 5.0 OPM %
+299 bps +46 bps
3.3% 2.8% 0.3% Other income
+50.0% -8.7%
21.0 23.0 14.0 Net profit?
from loss —
21.4 0.5 -14.2 PAT margin %
+188 bps +104 bps
1.1% 0.0% -0.8% EPS (₹)
from loss +490.0%
1.18 0.20 -0.88
Quality of profit
Pre-tax profit ₹29.1 Cr: core business ₹8.0 Cr, other income ₹21.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹106 Cr:
-43% of FY25 net profit of ₹249 Cr.
Borrowings ₹1,980 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,954 ₹2,014
+3.1% in line
M Cap ₹5,455 Cr
P/E 9.6
PEG 0.18
Profit +178% above its own trend Operating margin expanded 350 bps YoY 29% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+2.4% -15.9%
1,536 1,826 1,500 Operating profit
+105.8% -41.8%
107 184 52.0 OPM %
+350 bps -311 bps
7.0% 10.1% 3.5% Other income
-10.3% -5.3%
18.0 19.0 20.1 Net profit?
+308.3% -53.3%
49.0 105 12.0 PAT margin %
+239 bps -256 bps
3.2% 5.8% 0.8% EPS (₹)
+282.1% -53.4%
2.98 6.39 0.78
Quality of profit
Pre-tax profit ₹59.0 Cr: core business ₹42.0 Cr, other income ₹18.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +308.3%
Cash & debt
FY25 cash from operations −₹221 Cr:
-139% of FY25 net profit of ₹159 Cr.
Borrowings ₹2,059 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,930 ₹1,536
-20.4% below Net profit ₹17.6 ₹49.0
+178.0% above
M Cap ₹5,382 Cr
P/E 26.9
PEG 2.45
Profit +102% above its own trend Operating margin expanded 167 bps YoY 39% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+27.6% +35.7%
814 600 638 Operating profit
+56.5% +27.6%
73.7 57.8 47.1 OPM %
+167 bps -58 bps
9.1% 9.6% 7.4% Other income
+14.0% -50.9%
10.0 20.3 8.8 Net profit?
+160.9% +44.9%
47.7 32.9 18.3 PAT margin %
+299 bps +37 bps
5.9% 5.5% 2.9% EPS (₹)
+160.7% +44.8%
13.74 9.49 5.27
Quality of profit
Pre-tax profit ₹61.8 Cr: core business ₹37.5 Cr, other income ₹10.0 Cr, exceptional & other items ₹14.3 Cr.
Core profit YoY: +160.4%
· reported profit +160.9%
Cash & debt
FY25 cash from operations ₹176 Cr:
197% of FY25 net profit of ₹89.4 Cr.
Borrowings ₹849 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹804 ₹814
+1.3% in line Net profit ₹23.6 ₹47.7
+102.1% above
M Cap ₹5,355 Cr
P/E 12.9
PEG —
Profit +98% above its own trend 26% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +102%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+18.6% +8.8%
1,076 989 907 Operating profit
+49.5% -14.1%
51.4 59.8 34.4 OPM %
+99 bps -127 bps
4.8% 6.0% 3.8% Other income
-44.4% -41.0%
14.5 24.5 26.0 Net profit?
+30.7% -27.5%
40.6 56.0 31.1 PAT margin %
+35 bps -188 bps
3.8% 5.7% 3.4% EPS (₹)
+31.6% -27.5%
5.92 8.16 4.50
Quality of profit
Pre-tax profit ₹55.5 Cr: core business ₹41.0 Cr, other income ₹14.5 Cr.
Core profit YoY: +102.3%
· reported profit +30.7%
Against its own trend ?
Trend Actual Gap
Sales ₹920 ₹1,076
+16.9% above Net profit ₹20.5 ₹40.6
+97.8% above
M Cap ₹5,311 Cr
P/E 51.7
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+79.1%
794 443 Operating profit
from loss 6.7 -27.3 OPM %
+701 bps
0.8% -6.2% Other income
+61.2%
21.9 13.6 Net profit?
from loss 5.0 -51.8 PAT margin %
+1232 bps
0.6% -11.7% EPS (₹)
from loss 0.26 -2.92
Quality of profit
Pre-tax profit ₹4.8 Cr: core business −₹16.4 Cr, other income ₹21.9 Cr, exceptional & other items −₹0.7 Cr.
M Cap ₹5,081 Cr
P/E 33.7
PEG 2.41
Profit -10% below its own trend 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.9% +4.9%
325 310 302 Operating profit
+3.3% +4.2%
53.6 51.4 51.8 OPM %
-72 bps -11 bps
16.5% 16.6% 17.2% Other income
+37.9% +52.1%
14.3 9.4 10.4 Net profit?
+15.2% +26.2%
41.4 32.8 35.9 PAT margin %
+81 bps +215 bps
12.7% 10.6% 11.9% EPS (₹)
+15.1% +26.6%
4.19 3.31 3.64
Quality of profit
Pre-tax profit ₹52.4 Cr: core business ₹38.1 Cr, other income ₹14.3 Cr.
Core profit YoY: +2.2%
· reported profit +15.2%
Cash & debt
FY25 cash from operations ₹84.0 Cr:
102% of FY25 net profit of ₹82.7 Cr.
Borrowings ₹187 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹325 ₹325
-0.1% in line Net profit ₹46.0 ₹41.4
-10.0% below
M Cap ₹5,032 Cr
P/E 20.6
PEG 0.64
Profit -52% below its own trend Operating margin contracted 182 bps YoY 48% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -61%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-31.7% -12.0%
961 1,091 1,407 Operating profit
-38.9% -17.7%
148 179 242 OPM %
-182 bps -107 bps
15.4% 16.4% 17.2% Other income
-55.9% -25.8%
20.3 27.3 46.0 Net profit?
-4.8% -5.8%
47.8 50.7 50.2 PAT margin %
+141 bps +32 bps
5.0% 4.6% 3.6% EPS (₹)
-13.3% -7.1%
0.26 0.28 0.30
Quality of profit
Pre-tax profit ₹42.3 Cr: core business ₹22.0 Cr, other income ₹20.3 Cr.
Core profit YoY: -61.4%
· reported profit -4.8%
Cash & debt
FY25 cash from operations ₹134 Cr:
51% of FY25 net profit of ₹262 Cr.
Borrowings ₹1,679 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,021 ₹961
-5.9% below Net profit ₹100 ₹47.8
-52.4% below
M Cap ₹4,971 Cr
P/E 51.2
PEG —
Profit +20% above its own trend Operating margin expanded 598 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.4% +2.3%
90.0 88.0 87.0 Operating profit
+33.3% -11.1%
24.0 27.0 18.0 OPM %
+598 bps -402 bps
26.7% 30.7% 20.7% Other income
-10.0% -18.2%
9.0 11.0 10.0 Net profit
+20.0% -14.3%
24.0 28.0 20.0 PAT margin %
+368 bps -515 bps
26.7% 31.8% 23.0% EPS (₹)
+18.6% -12.3%
9.81 11.19 8.27
Quality of profit
Pre-tax profit ₹33.0 Cr: core business ₹23.0 Cr, other income ₹9.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +35.3%
· reported profit +20.0%
Cash & debt
FY25 cash from operations ₹75.0 Cr:
75% of FY25 net profit of ₹100 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹92.7 ₹90.0
-2.9% in line Net profit ₹20.0 ₹24.0
+19.8% above
M Cap ₹4,967 Cr
P/E 35.8
PEG 3.26
Profit -47% below its own trend Operating margin contracted 1142 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+9.7% -6.4%
114 122 104 Operating profit
-24.9% -49.7%
28.1 55.9 37.5 OPM %
-1142 bps -2123 bps
24.7% 45.9% 36.1% Other income
+5.3% -23.6%
10.4 13.7 9.9 Net profit?
-39.0% -59.6%
18.5 45.8 30.4 PAT margin %
-1300 bps -2139 bps
16.3% 37.7% 29.3% EPS (₹)
-40.5% -60.8%
3.32 8.48 5.58
Quality of profit
Pre-tax profit ₹28.5 Cr: core business ₹19.8 Cr, other income ₹10.4 Cr, exceptional & other items −₹1.8 Cr.
Core profit YoY: -36.5%
· reported profit -39.0%
Cash & debt
FY25 cash from operations ₹113 Cr:
77% of FY25 net profit of ₹148 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹114
-10.2% below Net profit ₹35.2 ₹18.5
-47.4% below
M Cap ₹4,953 Cr
P/E 40.9
PEG —
32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-6.3% +6.0%
89.0 84.0 95.0 Operating profit
-8.3% +6.5%
33.0 31.0 36.0 OPM %
-82 bps +17 bps
37.1% 36.9% 37.9% Other income
+85.7% +85.7%
13.0 7.0 7.0 Net profit
+23.3% +94.7%
37.0 19.0 30.0 PAT margin %
+999 bps +1895 bps
41.6% 22.6% 31.6% EPS (₹)
+15.5% +96.2%
2.61 1.33 2.26
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹27.0 Cr, other income ₹13.0 Cr.
Core profit YoY: +0.0%
· reported profit +23.3%
M Cap ₹4,946 Cr
P/E 26.4
PEG 1.26
Profit +12% above its own trend Operating margin expanded 143 bps YoY 30% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +120%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+24.3% +9.4%
1,009 923 812 Operating profit
+48.3% +8.8%
89.0 81.8 60.0 OPM %
+143 bps -5 bps
8.8% 8.9% 7.4% Other income
-36.4% +412.8%
14.0 2.7 22.0 Net profit?
+28.6% -0.5%
36.0 36.2 28.0 PAT margin %
+12 bps -36 bps
3.6% 3.9% 3.4% EPS (₹)
+26.0% -1.5%
38.13 38.71 30.25
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹33.0 Cr, other income ₹14.0 Cr.
Core profit YoY: +120.0%
· reported profit +28.6%
Cash & debt
FY25 cash from operations ₹212 Cr:
152% of FY25 net profit of ₹140 Cr.
Borrowings ₹888 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,017 ₹1,009
-0.8% in line Net profit ₹32.1 ₹36.0
+12.0% above
M Cap ₹4,944 Cr
P/E 48.0
PEG —
Profit -79% below its own trend All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.0% +3.0%
984 956 929 Operating profit
-7.1% -33.6%
64.6 97.3 69.6 OPM %
-92 bps -362 bps
6.6% 10.2% 7.5% Other income
+48.0% -11.3%
19.0 21.4 12.8 Net profit?
-71.3% -80.5%
8.1 41.5 28.2 PAT margin %
-221 bps -352 bps
0.8% 4.3% 3.0% EPS (₹)
-72.1% -80.8%
1.10 5.73 3.94
Quality of profit
Pre-tax profit ₹18.7 Cr: core business −₹0.2 Cr, other income ₹19.0 Cr.
Core profit YoY: to loss
· reported profit -71.3%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
36% of FY25 net profit of ₹159 Cr.
Borrowings ₹845 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,412 ₹984
-30.3% below Net profit ₹38.3 ₹8.1
-78.9% below
M Cap ₹4,921 Cr
P/E 164.0
PEG 4.10
Turnaround: profit against a loss a year ago Operating margin expanded 730 bps YoY 86% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+10.1% -3.5%
1,855 1,922 1,685 Operating profit
+303.6% +10.5%
186 168 46.1 OPM %
+730 bps +127 bps
10.0% 8.8% 2.7% Other income
-43.2% -10.1%
10.4 11.5 18.3 Net profit?
from loss from loss 1.6 -5.6 -104 PAT margin %
+624 bps +38 bps
0.1% -0.3% -6.2% EPS (₹)
from loss +20.0%
0.06 0.05 -1.78
Quality of profit
Pre-tax profit ₹16.2 Cr: core business ₹2.3 Cr, other income ₹10.4 Cr, exceptional & other items ₹3.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹737 Cr:
1635% of FY25 net profit of ₹45.1 Cr.
Borrowings ₹1,978 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,740 ₹1,855
+6.6% above
M Cap ₹4,884 Cr
P/E 237.1
PEG 23.71
Turnaround: profit against a loss a year ago Operating margin expanded 316 bps YoY 25% of pre-tax profit came from other income and one-off items Exceptional items of ₹-3.6 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.4% +9.4%
815 745 719 Operating profit
+125.3% -8.9%
51.9 56.9 23.0 OPM %
+316 bps -128 bps
6.4% 7.6% 3.2% Other income
+10.0% -42.2%
10.4 18.0 9.5 Net profit?
from loss -69.7%
6.3 20.9 -14.3 PAT margin %
+277 bps -202 bps
0.8% 2.8% -2.0% EPS (₹)
+700.0% -21.1%
1.12 1.42 0.14
Quality of profit
Pre-tax profit ₹26.9 Cr: core business ₹20.1 Cr, other income ₹10.4 Cr, exceptional & other items −₹3.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹23.0 Cr.
Borrowings ₹81.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹822 ₹815
-0.8% in line
M Cap ₹4,844 Cr
P/E 39.8
PEG 0.81
Operating margin contracted 2408 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
+56.4% +53.6%
86.0 56.0 55.0 Operating profit
-52.6% +50.0%
9.0 6.0 19.0 OPM %
-2408 bps -25 bps
10.5% 10.7% 34.5% Other income
+388.9% +4.8%
44.0 42.0 9.0 Net profit?
+113.3% +27.3%
28.0 22.0 13.1 PAT margin %
+869 bps -673 bps
32.6% 39.3% 23.9% EPS (₹)
+85.4% +26.7%
0.76 0.60 0.41
Quality of profit
Pre-tax profit ₹41.0 Cr: core business −₹2.0 Cr, other income ₹44.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit +113.3%
Cash & debt
FY25 cash from operations ₹60.0 Cr:
230% of FY25 net profit of ₹26.1 Cr.
Borrowings ₹181 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹62.4 ₹86.0
+37.9% above Net profit ₹26.3 ₹28.0
+6.6% in line
M Cap ₹4,800 Cr
P/E 24.2
PEG 2.68
30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+23.3% +9.1%
258 236 209 Operating profit
+24.0% +12.3%
56.1 50.0 45.3 OPM %
+13 bps +61 bps
21.8% 21.2% 21.7% Other income
-17.7% -19.2%
18.6 23.0 22.6 Net profit?
+12.3% -10.3%
45.7 51.0 40.7 PAT margin %
-172 bps -385 bps
17.8% 21.6% 19.5% EPS (₹)
+10.8% -12.6%
2.15 2.46 1.94
Quality of profit
Pre-tax profit ₹61.7 Cr: core business ₹43.1 Cr, other income ₹18.6 Cr.
Core profit YoY: +20.8%
· reported profit +12.3%
Cash & debt
FY25 cash from operations ₹130 Cr:
75% of FY25 net profit of ₹173 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹282 ₹258
-8.5% below Net profit ₹47.4 ₹45.7
-3.5% in line
M Cap ₹4,773 Cr
P/E 20.4
PEG —
Profit -35% below its own trend Operating margin expanded 466 bps YoY 27% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +31%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+18.1% +10.4%
85.0 77.0 72.0 Operating profit
+28.2% +13.6%
50.0 44.0 39.0 OPM %
+466 bps +168 bps
58.8% 57.1% 54.2% Other income
-10.5% +6.2%
17.0 16.0 19.0 Net profit?
-15.8% +12.2%
47.5 42.3 56.4 PAT margin %
-2243 bps +89 bps
55.9% 55.0% 78.3% EPS (₹)
-15.7% +12.3%
6.75 6.01 8.01
Quality of profit
Pre-tax profit ₹64.5 Cr: core business ₹47.0 Cr, other income ₹17.0 Cr, exceptional & other items ₹0.5 Cr.
Core profit YoY: +30.6%
· reported profit -15.8%
Cash & debt
FY25 cash from operations ₹260 Cr:
58% of FY25 net profit of ₹445 Cr.
Borrowings ₹145 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹36.0 ₹85.0
+136.1% above Net profit ₹72.7 ₹47.5
-34.6% below
M Cap ₹4,736 Cr
P/E 39.5
PEG —
Profit +697% above its own trend Operating margin contracted 532 bps YoY 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -17%) FY25 operating cash flow was only 43% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.8% +7.7%
182 169 172 Operating profit
-15.2% +10.0%
39.0 35.5 46.0 OPM %
-532 bps +43 bps
21.4% 21.0% 26.7% Other income
from loss +205.9%
16.0 5.2 -25.0 Net profit
+825.0% +40.7%
37.0 26.3 4.0 PAT margin %
+1800 bps +477 bps
20.3% 15.6% 2.3% EPS (₹)
+777.2% +40.1%
22.28 15.90 2.54
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹34.0 Cr, other income ₹16.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -17.1%
· reported profit +825.0%
Cash & debt
FY25 cash from operations ₹78.0 Cr:
43% of FY25 net profit of ₹183 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹193 ₹182
-5.5% below Net profit ₹4.6 ₹37.0
+697.5% above
How to read this page
The numbers. Each card is one company's Q2 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 17:17 IST
