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 ₹3,180 Cr
P/E 37.9
PEG —
Profit +79% above its own trend Operating margin contracted 528 bps YoY 63% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -66%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-6.7% +16.8%
376 322 403 Operating profit
-48.9% +60.0%
24.0 15.0 47.0 OPM %
-528 bps +172 bps
6.4% 4.7% 11.7% Other income
— —
22.0 1.0 1.0 Net profit
-10.3% +766.7%
26.0 3.0 29.0 PAT margin %
-28 bps +598 bps
6.9% 0.9% 7.2% EPS (₹)
-11.2% +930.0%
2.06 0.20 2.32
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹13.0 Cr, other income ₹22.0 Cr.
Core profit YoY: -65.8%
· reported profit -10.3%
Cash & debt
FY25 cash from operations ₹68.0 Cr:
372% of FY25 net profit of ₹18.3 Cr.
Borrowings ₹67.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹399 ₹376
-5.7% below Net profit ₹14.5 ₹26.0
+79.3% above
M Cap ₹3,149 Cr
P/E 11.6
PEG —
Profit -90% below its own trend Operating margin contracted 526 bps YoY 97% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.2% +3.2%
1,794 1,739 1,739 Operating profit
-46.3% from loss 103 -0.6 191 OPM %
-526 bps +575 bps
5.7% -0.0% 11.0% Other income
-77.3% -23.6%
22.8 29.8 100 Net profit?
-79.6% from loss 33.5 -59.8 164 PAT margin %
-757 bps +531 bps
1.9% -3.4% 9.4% EPS (₹)
-71.9% from loss 7.87 -6.15 27.97
Quality of profit
Pre-tax profit ₹23.5 Cr: core business ₹0.7 Cr, other income ₹22.8 Cr.
Core profit YoY: -99.3%
· reported profit -79.6%
Cash & debt
FY25 cash from operations ₹438 Cr:
122% of FY25 net profit of ₹358 Cr.
Borrowings ₹882 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,863 ₹1,794
-3.7% in line Net profit ₹328 ₹33.5
-89.8% below
M Cap ₹3,140 Cr
P/E 54.9
PEG —
Operating margin expanded 10097 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
— +5.5%
153 145 12.0 Operating profit
from loss from loss 1.5 -13.5 -12.0 OPM %
+10097 bps +1027 bps
1.0% -9.3% -100.0% Other income
+37.4% +305.0%
17.9 4.4 13.0 Net profit?
— -96.3%
8.0 218 0.0 PAT margin %
+523 bps —
5.2% — 0.0% EPS (₹)
— -96.9%
1.00 32.34 0.07
Quality of profit
Pre-tax profit ₹10.3 Cr: core business −₹7.5 Cr, other income ₹17.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹25.0 Cr:
-11% of FY25 net profit of ₹228 Cr.
Borrowings ₹41.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹6.0 ₹153
+999.0% above
Profit +104% above its own trend Operating margin expanded 447 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
-4.0% -10.4%
337 376 351 Operating profit
+51.9% +5.1%
41.0 39.0 27.0 OPM %
+447 bps +179 bps
12.2% 10.4% 7.7% Other income
+233.3% +233.3%
10.0 3.0 3.0 Net profit
+127.3% +31.6%
25.0 19.0 11.0 PAT margin %
+428 bps +237 bps
7.4% 5.1% 3.1% EPS (₹)
+131.3% +31.9%
4.88 3.70 2.11
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹26.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +116.7%
· reported profit +127.3%
Cash & debt
FY25 cash from operations ₹85.0 Cr:
155% of FY25 net profit of ₹55.0 Cr.
Borrowings ₹189 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹418 ₹337
-19.3% below Net profit ₹12.2 ₹25.0
+104.4% above
M Cap ₹3,092 Cr
P/E 48.9
PEG —
Profit +114% above its own trend 33% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +100%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+53.7% +15.3%
83.0 72.0 54.0 Operating profit
+54.5% +21.4%
17.0 14.0 11.0 OPM %
+11 bps +104 bps
20.5% 19.4% 20.4% Other income
+0.0% +0.0%
5.0 5.0 5.0 Net profit
+37.5% +22.2%
11.0 9.0 8.0 PAT margin %
-156 bps +75 bps
13.3% 12.5% 14.8% EPS (₹)
+37.5% +20.5%
3.52 2.92 2.56
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹10.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +100.0%
· reported profit +37.5%
Cash & debt
FY25 cash from operations ₹35.0 Cr:
146% of FY25 net profit of ₹24.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹46.8 ₹83.0
+77.3% above Net profit ₹5.1 ₹11.0
+114.4% above
M Cap ₹3,056 Cr
P/E 79.9
PEG —
Profit +70% above its own trend Operating margin expanded 343 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
+28.4% +16.9%
84.7 72.5 66.0 Operating profit
+78.9% +89.2%
10.3 5.4 5.7 OPM %
+343 bps +463 bps
12.1% 7.5% 8.7% Other income
+94.5% —
3.9 0.4 2.0 Net profit?
+111.7% +227.8%
11.4 3.5 5.4 PAT margin %
+529 bps +864 bps
13.4% 4.8% 8.1% EPS (₹)
+118.2% +242.9%
0.24 0.07 0.11
Quality of profit
Pre-tax profit ₹11.4 Cr: core business ₹7.5 Cr, other income ₹3.9 Cr.
Core profit YoY: +122.0%
· reported profit +111.7%
Against its own trend ?
Trend Actual Gap
Sales ₹91.5 ₹84.7
-7.5% below Net profit ₹6.7 ₹11.4
+70.3% above
M Cap ₹3,027 Cr
P/E 450.2
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 112 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+130.0% +20.6%
137 113 59.4 Operating profit
+180.6% +6.6%
8.5 8.0 3.0 OPM %
+112 bps -82 bps
6.2% 7.0% 5.1% Other income
— —
3.4 0.1 0.0 Net profit?
from loss from loss 4.3 -10.5 -36.7 PAT margin %
+6487 bps +1244 bps
3.1% -9.3% -61.7% EPS (₹)
from loss from loss 0.51 -1.25 -5.65
Quality of profit
Pre-tax profit ₹6.1 Cr: core business ₹2.7 Cr, other income ₹3.4 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹41.0 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.6 ₹137
+96.4% above
M Cap ₹3,001 Cr
P/E 15.0
PEG —
Operating margin expanded 1270 bps YoY 54% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+104.7% —
63.1 0.5 30.8 Operating profit
+648.3% from loss 11.0 -2.8 1.5 OPM %
+1270 bps —
17.5% — 4.8% Other income
+123.9% -71.0%
5.8 19.8 2.6 Net profit?
— —
8.8 — 0.6 PAT margin %
+1203 bps —
13.9% — 1.9% EPS (₹)
+800.0% —
0.72 — 0.08
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹4.9 Cr, other income ₹5.8 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹15.4 ₹63.1
+309.4% above
M Cap ₹2,895 Cr
P/E 731.0
PEG 243.65
Operating margin expanded 141 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹1.9 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+23.2% -10.2%
2,668 2,971 2,166 Operating profit
+40.5% -49.1%
306 600 218 OPM %
+141 bps -874 bps
11.5% 20.2% 10.1% Other income
+11.8% -42.7%
8.4 14.7 7.5 Net profit?
loss narrowed to loss -41.1 251 -72.8 PAT margin %
+182 bps -999 bps
-1.5% 8.5% -3.4% EPS (₹)
loss narrowed to loss -15.72 25.11 -23.52
Quality of profit
Pre-tax profit ₹10.4 Cr: core business −₹27.7 Cr, other income ₹8.4 Cr, exceptional & other items ₹29.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹1,098 Cr:
505% of FY25 net profit of ₹218 Cr.
Borrowings ₹6,152 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,590 ₹2,668
+3.0% in line
M Cap ₹2,887 Cr
P/E 62.5
PEG 1.10
Turnaround: profit against a loss a year ago Operating margin expanded 525 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
+71.1% +40.8%
532 378 311 Operating profit
+187.5% +18.5%
69.0 58.2 24.0 OPM %
+525 bps -244 bps
13.0% 15.4% 7.7% Other income
— —
59.0 2.9 2.0 Net profit
from loss —
51.0 2.1 -9.0 PAT margin %
+1248 bps +904 bps
9.6% 0.5% -2.9% EPS (₹)
from loss —
6.90 0.28 -1.19
Quality of profit
Pre-tax profit ₹69.0 Cr: core business ₹10.0 Cr, other income ₹59.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹53.0 Cr:
363% of FY25 net profit of ₹14.6 Cr.
Borrowings ₹996 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹454 ₹532
+17.3% above
M Cap ₹2,797 Cr
P/E 20.2
PEG 4.05
Profit -19% below its own trend Operating margin contracted 207 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +20%) FY25 operating cash flow was only 11% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+31.8% -11.6%
983 1,112 746 Operating profit
+5.7% -0.4%
82.5 82.8 78.0 OPM %
-207 bps +94 bps
8.4% 7.4% 10.5% Other income
-7.7% +54.0%
10.2 6.6 11.0 Net profit?
-7.2% -0.2%
20.4 20.4 22.0 PAT margin %
-87 bps +24 bps
2.1% 1.8% 2.9% EPS (₹)
+17.0% +1.6%
0.62 0.61 0.53
Quality of profit
Pre-tax profit ₹27.4 Cr: core business ₹16.8 Cr, other income ₹10.2 Cr.
Core profit YoY: +20.1%
· reported profit -7.2%
Cash & debt
FY25 cash from operations ₹10.0 Cr:
11% of FY25 net profit of ₹91.1 Cr.
Borrowings ₹765 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,002 ₹983
-1.9% in line Net profit ₹25.1 ₹20.4
-18.8% below
Profit -25% below its own trend 78% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -51%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+24.3% +7.9%
286 265 230 Operating profit
+16.7% +3.7%
28.0 27.0 24.0 OPM %
-64 bps -40 bps
9.8% 10.2% 10.4% Other income
-16.4% —
0.8 0.0 1.0 Net profit
+25.0% +0.0%
15.0 15.0 12.0 PAT margin %
+3 bps -42 bps
5.2% 5.7% 5.2% EPS (₹)
+26.0% +3.2%
2.91 2.82 2.31
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹8.4 Cr, other income ₹0.8 Cr, exceptional & other items ₹28.8 Cr.
Core profit YoY: -50.6%
· reported profit +25.0%
Cash & debt
FY25 cash from operations ₹95.0 Cr:
202% of FY25 net profit of ₹47.0 Cr.
Borrowings ₹195 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹351 ₹286
-18.4% below Net profit ₹20.0 ₹15.0
-25.0% below
M Cap ₹2,711 Cr
P/E 23.9
PEG —
Profit -39% below its own trend Operating margin contracted 204 bps YoY 44% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-3.3% +6.7%
378 354 391 Operating profit
-14.4% +6.4%
59.4 55.9 69.4 OPM %
-204 bps -5 bps
15.7% 15.8% 17.8% Other income
-24.3% -27.2%
11.1 15.2 14.6 Net profit?
-48.1% -13.6%
16.6 19.2 31.9 PAT margin %
-378 bps -103 bps
4.4% 5.4% 8.2% EPS (₹)
-48.1% -13.6%
3.43 3.97 6.61
Quality of profit
Pre-tax profit ₹25.1 Cr: core business ₹14.0 Cr, other income ₹11.1 Cr.
Core profit YoY: -53.8%
· reported profit -48.1%
Cash & debt
FY25 cash from operations ₹182 Cr:
149% of FY25 net profit of ₹122 Cr.
Borrowings ₹1,185 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹366 ₹378
+3.4% in line Net profit ₹27.2 ₹16.6
-39.1% below
M Cap ₹2,705 Cr
P/E 41.0
PEG —
Profit -50% below its own trend Operating margin contracted 361 bps YoY 58% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-11.6% -4.5%
321 336 363 Operating profit
-42.1% -28.1%
22.0 30.6 38.0 OPM %
-361 bps -224 bps
6.9% 9.1% 10.5% Other income
+25.0% +51.5%
10.0 6.6 8.0 Net profit?
-71.4% -30.5%
12.0 17.3 42.0 PAT margin %
-783 bps -140 bps
3.7% 5.1% 11.6% EPS (₹)
-71.0% -29.1%
0.73 1.03 2.52
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹8.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -66.7%
· reported profit -71.4%
Against its own trend ?
Trend Actual Gap
Sales ₹343 ₹321
-6.4% below Net profit ₹23.9 ₹12.0
-49.8% below
M Cap ₹2,676 Cr
P/E 23.4
PEG 0.29
Profit +792% above its own trend Operating margin expanded 253 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+10.0% -12.6%
395 452 359 Operating profit
+43.3% -42.7%
43.0 75.0 30.0 OPM %
+253 bps -571 bps
10.9% 16.6% 8.4% Other income
+0.0% -9.1%
10.0 11.0 10.0 Net profit
+566.7% -37.5%
20.0 32.0 3.0 PAT margin %
+423 bps -202 bps
5.1% 7.1% 0.8% EPS (₹)
+514.3% -37.7%
7.31 11.73 1.19
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹7.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +566.7%
Cash & debt
FY25 cash from operations ₹188 Cr:
419% of FY25 net profit of ₹44.9 Cr.
Borrowings ₹627 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹386 ₹395
+2.4% in line Net profit ₹2.2 ₹20.0
+792.1% above
M Cap ₹2,651 Cr
P/E 47.1
PEG —
Into loss: a profit a year ago Profit -101% below its own trend Operating margin contracted 815 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-6.1% +7.8%
363 337 387 Operating profit
-59.6% -38.5%
22.3 36.3 55.3 OPM %
-815 bps -463 bps
6.1% 10.8% 14.3% Other income
+42.3% +57.2%
5.3 3.4 3.7 Net profit?
to loss to loss -0.5 10.8 27.1 PAT margin %
-715 bps -333 bps
-0.1% 3.2% 7.0% EPS (₹)
to loss to loss -0.19 4.22 10.71
Quality of profit
Pre-tax profit ₹0.6 Cr: core business −₹4.7 Cr, other income ₹5.3 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹41.0 Cr:
40% of FY25 net profit of ₹103 Cr.
Borrowings ₹556 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹487 ₹363
-25.3% below Net profit ₹46.5 −₹0.5
-101.1% below
M Cap ₹2,639 Cr
P/E 672.7
PEG 22.42
Profit -76% below its own trend Operating margin expanded 1425 bps YoY 59% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 31% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.2% +83.3%
4.9 2.6 4.7 Operating profit
from loss from loss 0.5 -3.2 -0.2 OPM %
+1425 bps —
10.8% — -3.4% Other income
-65.4% -91.6%
0.6 6.6 1.6 Net profit
-88.0% -96.2%
0.1 2.5 0.8 PAT margin %
-1501 bps -9188 bps
2.0% 93.9% 17.0% EPS (₹)
— —
0.01 0.22 0.07
No EPS growth against Jun 2025 and Sep 2024: 17:25 bonus in May 2025 and 2:1 bonus in Oct 2025.
Quality of profit
Pre-tax profit ₹0.9 Cr: core business ₹0.4 Cr, other income ₹0.6 Cr.
Core profit YoY: from loss
· reported profit -88.0%
Cash & debt
FY25 cash from operations ₹2.8 Cr:
31% of FY25 net profit of ₹8.8 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.3 ₹4.9
+13.3% above Net profit ₹0.4 ₹0.1
-76.1% below
M Cap ₹2,637 Cr
P/E 23.6
PEG 1.82
Profit +35% above its own trend Operating margin expanded 182 bps YoY 30% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +86%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.1% +1.7%
473 465 394 Operating profit
+59.1% +2.9%
35.0 34.0 22.0 OPM %
+182 bps +9 bps
7.4% 7.3% 5.6% Other income
+9.1% +20.0%
12.0 10.0 11.0 Net profit
+47.4% +0.0%
28.0 28.0 19.0 PAT margin %
+110 bps -10 bps
5.9% 6.0% 4.8% EPS (₹)
+50.3% +1.3%
24.98 24.67 16.62
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹26.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +85.7%
· reported profit +47.4%
Cash & debt
FY25 cash from operations ₹175 Cr:
131% of FY25 net profit of ₹134 Cr.
Borrowings ₹80.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹447 ₹473
+5.9% above Net profit ₹20.8 ₹28.0
+34.8% above
M Cap ₹2,597 Cr
P/E 5.2
PEG 0.18
Profit -44% below its own trend Operating margin expanded 407 bps YoY 45% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.4% -13.5%
321 372 276 Operating profit
+32.5% -4.4%
108 113 81.3 OPM %
+407 bps +320 bps
33.5% 30.3% 29.5% Other income
+19.7% +8.4%
20.9 19.3 17.5 Net profit
-38.7% -62.9%
21.3 57.5 34.7 PAT margin %
-595 bps -884 bps
6.6% 15.5% 12.6% EPS (₹)
-40.4% -63.0%
1.37 3.70 2.30
Quality of profit
Pre-tax profit ₹46.3 Cr: core business ₹25.4 Cr, other income ₹20.9 Cr.
Core profit YoY: -16.6%
· reported profit -38.7%
Cash & debt
FY25 cash from operations ₹1,127 Cr:
580% of FY25 net profit of ₹194 Cr.
Borrowings ₹2,027 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹262 ₹321
+22.8% above Net profit ₹38.1 ₹21.3
-44.2% below
M Cap ₹2,568 Cr
P/E 31.5
PEG —
Profit -31% below its own trend Operating margin contracted 295 bps YoY 47% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.6% +18.5%
250 211 220 Operating profit
-9.4% +81.2%
29.0 16.0 32.0 OPM %
-295 bps +402 bps
11.6% 7.6% 14.5% Other income
+7.1% -48.3%
15.0 29.0 14.0 Net profit?
-21.4% -9.4%
24.0 26.5 30.5 PAT margin %
-427 bps -296 bps
9.6% 12.6% 13.9% EPS (₹)
-15.0% +0.0%
5.88 5.88 6.92
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹17.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -32.0%
· reported profit -21.4%
Cash & debt
FY25 cash from operations ₹193 Cr:
203% of FY25 net profit of ₹95.2 Cr.
Borrowings ₹69.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹219 ₹250
+14.2% above Net profit ₹34.7 ₹24.0
-30.8% below
M Cap ₹2,557 Cr
P/E 9.0
PEG 0.53
Profit +85% above its own trend Operating margin expanded 462 bps YoY 77% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +22%) FY25 operating cash flow was only 38% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.6% +12.3%
55.9 49.8 52.9 Operating profit
+18.8% +18.8%
23.2 19.6 19.6 OPM %
+462 bps +227 bps
41.6% 39.3% 37.0% Other income
-1.0% —
64.9 3.6 65.6 Net profit?
+66.2% +108.5%
128 61.6 77.3 EPS (₹)
+6.2% +108.3%
5.00 2.40 4.71
Quality of profit
Pre-tax profit ₹84.8 Cr: core business ₹19.9 Cr, other income ₹64.9 Cr.
Core profit YoY: +22.4%
· reported profit +66.2%
Cash & debt
FY25 cash from operations ₹86.0 Cr:
38% of FY25 net profit of ₹228 Cr.
Borrowings ₹14.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.5 ₹55.9
-21.9% below Net profit ₹69.6 ₹128
+84.5% above
M Cap ₹2,502 Cr
P/E 217.5
PEG —
Profit +51% above its own trend 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-2.1% +5.1%
432 411 441 Operating profit
+19.6% +27.2%
22.9 18.0 19.1 OPM %
+96 bps +92 bps
5.3% 4.4% 4.3% Other income
-77.0% +8.7%
2.6 2.4 11.4 Net profit
-24.6% +572.5%
4.6 0.7 6.2 PAT margin %
-32 bps +91 bps
1.1% 0.2% 1.4% EPS (₹)
-24.8% +569.0%
1.94 0.29 2.58
Quality of profit
Pre-tax profit ₹7.2 Cr: core business ₹4.6 Cr, other income ₹2.6 Cr.
Core profit YoY: from loss
· reported profit -24.6%
Cash & debt
FY25 cash from operations ₹26.0 Cr.
Borrowings ₹76.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹452 ₹432
-4.4% in line Net profit ₹3.1 ₹4.6
+50.9% above
M Cap ₹2,494 Cr
P/E 22.2
PEG 0.93
Profit -12% below its own trend 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.2% +3.1%
213 207 199 Operating profit
+4.2% +2.4%
31.8 31.1 30.5 OPM %
-43 bps -10 bps
14.9% 15.0% 15.3% Other income
-64.2% -51.8%
3.8 7.8 10.5 Net profit?
-6.9% +4.1%
23.1 22.2 24.8 PAT margin %
-164 bps +10 bps
10.8% 10.7% 12.5% EPS (₹)
+83.3% +3.9%
3.74 3.60 2.04
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹20.4 Cr, other income ₹3.8 Cr, exceptional & other items ₹4.9 Cr.
Core profit YoY: -10.0%
· reported profit -6.9%
Cash & debt
FY25 cash from operations ₹80.0 Cr:
83% of FY25 net profit of ₹95.8 Cr.
Borrowings ₹94.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹213
+5.6% above Net profit ₹26.4 ₹23.1
-12.4% below
M Cap ₹2,488 Cr
P/E 88.7
PEG —
Operating margin contracted 187 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
+85.9% +2.9%
383 372 206 Operating profit
-33.3% -70.7%
4.0 13.7 6.0 OPM %
-187 bps -263 bps
1.0% 3.7% 2.9% Other income
— +8.7%
1.0 0.9 0.0 Net profit?
— to loss -2.0 4.3 0.0 PAT margin %
-52 bps -168 bps
-0.5% 1.2% 0.0% EPS (₹)
to loss to loss -0.55 1.15 0.02
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹13.3 Cr, other income ₹1.0 Cr, exceptional & other items ₹14.1 Cr.
Against its own trend ?
Trend Actual Gap
Sales ₹287 ₹383
+33.4% above
M Cap ₹2,485 Cr
P/E 35.3
PEG 3.92
25% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +16%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.0% +2.6%
110 108 103 Operating profit
+6.2% +2.7%
26.3 25.6 24.8 OPM %
-17 bps +1 bps
23.8% 23.8% 24.0% Other income
+900.0% —
4.8 0.3 0.5 Net profit?
-5.0% +20.1%
8.0 6.6 8.4 PAT margin %
-91 bps +105 bps
7.2% 6.2% 8.1% EPS (₹)
+40.6% +21.6%
0.45 0.37 0.32
Quality of profit
Pre-tax profit ₹18.9 Cr: core business ₹14.1 Cr, other income ₹4.8 Cr.
Core profit YoY: +16.5%
· reported profit -5.0%
Cash & debt
FY25 cash from operations ₹100 Cr:
242% of FY25 net profit of ₹41.4 Cr.
Borrowings ₹183 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹126 ₹110
-12.3% below Net profit ₹8.4 ₹8.0
-5.0% in line
M Cap ₹2,457 Cr
P/E 75.4
PEG —
Profit -28% below its own trend Operating margin contracted 373 bps YoY 61% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -71%) FY25 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-10.5% -17.2%
120 145 134 Operating profit
-44.4% from loss 7.3 -2.5 13.2 OPM %
-373 bps +785 bps
6.1% -1.7% 9.8% Other income
-14.9% +18.3%
4.1 3.4 4.8 Net profit?
-50.0% from loss 5.0 -5.5 9.9 PAT margin %
-327 bps +793 bps
4.1% -3.8% 7.4% EPS (₹)
-52.5% from loss 2.14 -2.46 4.51
Quality of profit
Pre-tax profit ₹6.7 Cr: core business ₹2.6 Cr, other income ₹4.1 Cr.
Core profit YoY: -70.5%
· reported profit -50.0%
Cash & debt
FY25 cash from operations ₹13.0 Cr:
34% of FY25 net profit of ₹38.0 Cr.
Borrowings ₹269 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹153 ₹120
-21.7% below Net profit ₹7.0 ₹5.0
-28.5% below
M Cap ₹2,416 Cr
P/E 37.1
PEG 3.09
Profit +236% above its own trend Operating margin contracted 220 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +45%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+71.8% +79.9%
178 99.2 104 Operating profit
+38.8% +390.1%
16.5 3.4 11.9 OPM %
-220 bps +586 bps
9.3% 3.4% 11.5% Other income
+64.3% +53.4%
5.8 3.8 3.5 Net profit?
+68.0% —
13.0 1.1 7.8 PAT margin %
-16 bps +616 bps
7.3% 1.1% 7.5% EPS (₹)
+70.4% —
2.42 0.20 1.42
Quality of profit
Pre-tax profit ₹17.8 Cr: core business ₹12.0 Cr, other income ₹5.8 Cr.
Core profit YoY: +44.7%
· reported profit +68.0%
Cash & debt
FY25 cash from operations −₹65.0 Cr:
-214% of FY25 net profit of ₹30.4 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹99.9 ₹178
+78.6% above Net profit ₹3.9 ₹13.0
+236.1% above
M Cap ₹2,411 Cr
P/E 10.1
PEG —
Profit +23% above its own trend 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.1% +81.2%
706 389 608 Operating profit
+20.6% +416.1%
107 20.8 89.0 OPM %
+57 bps +987 bps
15.2% 5.3% 14.6% Other income
+77.1% +211.0%
37.2 12.0 21.0 Net profit?
+27.5% —
86.7 4.6 68.0 PAT margin %
+110 bps +1110 bps
12.3% 1.2% 11.2% EPS (₹)
+27.1% —
19.11 1.02 15.03
Quality of profit
Pre-tax profit ₹115 Cr: core business ₹77.8 Cr, other income ₹37.2 Cr.
Core profit YoY: +12.7%
· reported profit +27.5%
Cash & debt
FY25 cash from operations ₹255 Cr:
129% of FY25 net profit of ₹197 Cr.
Borrowings ₹262 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹691 ₹706
+2.1% in line Net profit ₹70.2 ₹86.7
+23.4% above
M Cap ₹2,398 Cr
P/E 12.9
PEG 0.71
Profit -12% below its own trend Operating margin expanded 1450 bps YoY 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -8%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-57.1% -55.5%
62.7 141 146 Operating profit
-35.6% -11.7%
27.3 30.9 42.4 OPM %
+1450 bps +2161 bps
43.6% 22.0% 29.1% Other income
+117.9% -14.1%
43.0 50.1 19.7 Net profit?
+22.3% -1.7%
60.5 61.6 49.5 PAT margin %
+6263 bps +5278 bps
96.5% 43.7% 33.9% EPS (₹)
-5.2% -23.3%
8.97 11.69 9.46
Quality of profit
Pre-tax profit ₹69.4 Cr: core business ₹26.4 Cr, other income ₹43.0 Cr.
Core profit YoY: -8.2%
· reported profit +22.3%
Cash & debt
FY25 cash from operations −₹25.0 Cr:
-13% of FY25 net profit of ₹191 Cr.
Borrowings ₹560 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹133 ₹62.7
-52.9% below Net profit ₹68.6 ₹60.5
-11.8% below
M Cap ₹2,380 Cr
P/E 7.9
PEG 0.26
Profit -30% below its own trend 36% of pre-tax profit came from other income and one-off items Exceptional items of ₹-30.9 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+2.9% -2.0%
1,208 1,233 1,174 Operating profit
-2.1% -4.0%
159 165 162 OPM %
-67 bps -27 bps
13.1% 13.4% 13.8% Other income
+50.5% +64.1%
63.2 38.5 42.0 Net profit?
+0.0% -9.8%
73.0 80.9 73.0 PAT margin %
-17 bps -52 bps
6.0% 6.6% 6.2% EPS (₹)
+13.5% -8.7%
0.84 0.92 0.74
Quality of profit
Pre-tax profit ₹88.7 Cr: core business ₹56.4 Cr, other income ₹63.2 Cr, exceptional & other items −₹30.9 Cr.
Core profit YoY: -4.3%
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹363 Cr:
151% of FY25 net profit of ₹241 Cr.
Borrowings ₹1,615 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,342 ₹1,208
-9.9% below Net profit ₹104 ₹73.0
-29.6% below
How to read this page
The numbers. Each card is one company's Q2 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 17:42 IST
