Home › Quarterly results › Q3 FY26
Q3 FY26 quarterly results (October-December 2025)
4,316 companies have declared Q3 FY26 results so far, the latest on 15 Sep 2026.
Across the 3,727 non-financial companies with a year-ago quarter to compare, sales grew +15.1% and net profit +14.8% year on year, and the combined operating margin narrowed 25 bps to 14.1%.
For the 146 banks and lenders, net interest income grew +8.0% and net profit +10.5%.
56% of companies grew net profit; 416 turned a loss into a profit; 37% beat their own profit trend and 48% fell short of it.
4316 declared
Latest results
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The next results season has started: 42 companies have filed results for the quarter ended 30 Sep 2026.
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Sales growth
+15.1%
YoY, 3727 companies combined; median +8.3%
Net profit growth
+14.8%
YoY combined; median +8.9%
Operating margin
14.1%
-25 bps YoY
Grew profit
56%
416 turnarounds, 346 into loss
Vs own profit trend
37% / 48%
above / below, 15% in line
Banks: NII growth
+8.0%
146 lenders; profit +10.5%
Price since results
-9.5%
median; 0% of 1 stocks up
Other-income heavy
1051
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1051 matching results 1051
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M Cap ₹583 Cr
P/E 45.5
PEG —
Into loss: a profit a year ago Profit -275% below its own trend Operating margin expanded 120 bps YoY 64% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+115.3% +6.2%
383 360 178 Operating profit
+145.9% -6.7%
36.9 39.5 15.0 OPM %
+120 bps -134 bps
9.6% 11.0% 8.4% Other income
-63.2% +15.8%
2.5 2.2 6.9 Net profit?
to loss to loss -0.7 7.7 0.8 PAT margin %
-66 bps -233 bps
-0.2% 2.1% 0.5% EPS (₹)
to loss to loss -0.68 7.01 0.76
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹1.4 Cr, other income ₹2.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹99.0 Cr.
Borrowings ₹579 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹339 ₹383
+13.0% above Net profit ₹0.4 −₹0.7
-274.6% below
Turnaround: profit against a loss a year ago Operating margin expanded 5838 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+44.7% +12.2%
74.1 66.1 51.2 Operating profit
from loss from loss 0.9 -3.9 -29.3 OPM %
+5838 bps +713 bps
1.3% -5.9% -57.1% Other income
-85.2% -28.8%
5.7 8.1 38.9 Net profit
from loss from loss 3.5 -0.4 -9.3 PAT margin %
+2294 bps +539 bps
4.7% -0.6% -18.2% EPS (₹)
from loss from loss 0.08 -0.01 -0.22
Quality of profit
Pre-tax profit ₹3.9 Cr: core business −₹1.9 Cr, other income ₹5.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹154 Cr:
306% of FY25 net profit of ₹50.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.5 ₹74.1
+6.6% above
M Cap ₹574 Cr
P/E 6.4
PEG 0.08
Profit -98% below its own trend Operating margin contracted 137 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-16.1 Cr in the quarter FY25 operating cash flow was only 49% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.5% +7.8%
212 197 197 Operating profit
to loss loss narrowed -0.8 -10.0 2.0 OPM %
-137 bps +472 bps
-0.4% -5.1% 1.0% Other income
to loss to loss -10.0 28.1 23.9 Net profit?
-95.1% -91.1%
0.9 10.0 18.0 PAT margin %
-870 bps -466 bps
0.4% 5.1% 9.1% EPS (₹)
-95.1% -91.2%
0.12 1.37 2.44
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹6.8 Cr, other income −₹10.0 Cr, exceptional & other items ₹17.9 Cr.
Core profit YoY: loss widened
· reported profit -95.1%
Cash & debt
FY25 cash from operations ₹38.0 Cr:
49% of FY25 net profit of ₹77.4 Cr.
Borrowings ₹40.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹218 ₹212
-2.7% in line Net profit ₹36.0 ₹0.9
-97.5% below
M Cap ₹571 Cr
P/E 29.1
PEG —
Profit -50% below its own trend Operating margin contracted 301 bps YoY 28% 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
Dec 2025 Sep 2025 Dec 2024
Sales
-3.8% -12.6%
82.0 93.8 85.3 Operating profit
-22.4% -14.3%
10.3 12.0 13.3 OPM %
-301 bps -25 bps
12.6% 12.8% 15.6% Other income
-26.7% +201.5%
1.2 0.4 1.6 Net profit?
-47.1% -14.9%
3.7 4.3 6.9 PAT margin %
-366 bps -12 bps
4.5% 4.6% 8.1% EPS (₹)
-49.6% -11.9%
1.71 1.94 3.39
Quality of profit
Pre-tax profit ₹4.1 Cr: core business ₹3.0 Cr, other income ₹1.2 Cr.
Core profit YoY: -52.5%
· reported profit -47.1%
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-44% of FY25 net profit of ₹20.4 Cr.
Borrowings ₹94.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹99.6 ₹82.0
-17.6% below Net profit ₹7.3 ₹3.7
-49.7% below
Profit +35% above its own trend Operating margin expanded 105 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-20.8% -0.0%
340 340 430 Operating profit
+3.3% from loss 15.2 -4.1 14.8 OPM %
+105 bps +568 bps
4.5% -1.2% 3.4% Other income
+7.1% -62.1%
17.5 46.3 16.4 Net profit?
+25.0% -64.9%
5.8 16.5 4.6 PAT margin %
+62 bps -314 bps
1.7% 4.8% 1.1% EPS (₹)
+25.2% -64.9%
1.34 3.82 1.07
Quality of profit
Pre-tax profit ₹9.7 Cr: core business −₹8.4 Cr, other income ₹17.5 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: loss narrowed
· reported profit +25.0%
Cash & debt
FY25 cash from operations ₹78.0 Cr:
425% of FY25 net profit of ₹18.4 Cr.
Borrowings ₹622 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹460 ₹340
-26.1% below Net profit ₹4.3 ₹5.8
+34.8% above
M Cap ₹562 Cr
P/E 12.5
PEG 0.13
Profit -13% below its own trend Operating margin contracted 176 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.4% +16.3%
192 165 161 Operating profit
-3.2% -6.2%
14.5 15.5 15.0 OPM %
-176 bps -181 bps
7.6% 9.4% 9.3% Other income
+63.3% +273.7%
4.9 1.3 3.0 Net profit?
+34.2% +38.9%
10.7 7.7 8.0 PAT margin %
+62 bps +91 bps
5.6% 4.7% 5.0% EPS (₹)
+31.0% +36.9%
4.56 3.33 3.48
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹9.1 Cr, other income ₹4.9 Cr.
Core profit YoY: +50.9%
· reported profit +34.2%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
308% of FY25 net profit of ₹12.0 Cr.
Borrowings ₹145 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹192
-2.7% in line Net profit ₹12.3 ₹10.7
-12.9% below
M Cap ₹560 Cr
P/E 13.6
PEG —
Profit -86% below its own trend Operating margin contracted 473 bps YoY 98% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-24.6% +66.8%
408 245 542 Operating profit
-61.1% -26.3%
20.6 28.0 53.0 OPM %
-473 bps -639 bps
5.1% 11.4% 9.8% Other income
+126.8% -9.3%
4.5 5.0 2.0 Net profit?
-90.0% -76.7%
2.8 12.0 28.0 PAT margin %
-448 bps -421 bps
0.7% 4.9% 5.2% EPS (₹)
-89.9% -76.7%
1.87 8.02 18.52
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹0.1 Cr, other income ₹4.5 Cr.
Core profit YoY: -99.6%
· reported profit -90.0%
Cash & debt
FY25 cash from operations ₹100 Cr:
87% of FY25 net profit of ₹116 Cr.
Borrowings ₹435 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹515 ₹408
-20.7% below Net profit ₹20.6 ₹2.8
-86.4% below
M Cap ₹547 Cr
P/E 7.6
PEG 0.35
Profit +29% above its own trend Operating margin expanded 344 bps YoY 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +132%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.2% -2.8%
167 172 173 Operating profit
+35.0% -26.6%
20.4 27.8 15.1 OPM %
+344 bps -395 bps
12.2% 16.1% 8.7% Other income
+182.0% +111.6%
11.6 5.5 4.1 Net profit?
+157.2% -7.0%
19.3 20.8 7.5 PAT margin %
+719 bps -52 bps
11.5% 12.1% 4.3% EPS (₹)
+156.9% -7.0%
7.86 8.45 3.06
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹10.3 Cr, other income ₹11.6 Cr.
Core profit YoY: +132.5%
· reported profit +157.2%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
121% of FY25 net profit of ₹47.1 Cr.
Borrowings ₹96.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹186 ₹167
-9.9% below Net profit ₹15.0 ₹19.3
+28.6% above
M Cap ₹545 Cr
P/E 54.2
PEG 0.46
Profit +129% above its own trend Operating margin expanded 490 bps YoY 35% 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
Dec 2025 Sep 2025 Dec 2024
Sales
-11.4% -13.0%
60.1 69.1 67.9 Operating profit
+42.3% +7.1%
7.8 7.3 5.5 OPM %
+490 bps +243 bps
13.0% 10.5% 8.1% Other income
+95.0% -1.9%
1.5 1.5 0.8 Net profit?
+201.1% +4.0%
3.2 3.0 1.0 PAT margin %
+370 bps +86 bps
5.2% 4.4% 1.5% EPS (₹)
+200.0% +0.0%
0.03 0.03 0.01
Quality of profit
Pre-tax profit ₹4.2 Cr: core business ₹2.7 Cr, other income ₹1.5 Cr.
Core profit YoY: +219.1%
· reported profit +201.1%
Cash & debt
FY25 cash from operations −₹21.0 Cr:
-329% of FY25 net profit of ₹6.4 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.6 ₹60.1
-24.5% below Net profit ₹1.4 ₹3.2
+128.5% above
M Cap ₹532 Cr
P/E 11.3
PEG 0.28
Profit -17% below its own trend 57% 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
Dec 2025 Sep 2025 Dec 2024
Sales
+50.6% +7.1%
756 706 502 Operating profit
+14.6% +16.4%
12.8 11.0 11.2 OPM %
-53 bps +14 bps
1.7% 1.6% 2.2% Other income
-13.1% +12.1%
5.6 5.0 6.4 Net profit?
+34.4% -52.7%
8.5 18.0 6.3 PAT margin %
-14 bps -142 bps
1.1% 2.5% 1.3% EPS (₹)
+36.8% -51.9%
0.26 0.54 adj. 0.19
EPS restated for the ₹2 to ₹1 split of Mar 2025: Dec 2024 ₹0.38 to ₹0.19.
Quality of profit
Pre-tax profit ₹9.8 Cr: core business ₹4.3 Cr, other income ₹5.6 Cr.
Core profit YoY: +39.3%
· reported profit +34.4%
Cash & debt
FY25 cash from operations −₹39.0 Cr:
-167% of FY25 net profit of ₹23.3 Cr.
Borrowings ₹224 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹564 ₹756
+34.2% above Net profit ₹10.3 ₹8.5
-17.4% below
M Cap ₹511 Cr
P/E 3.8
PEG 0.11
Operating margin expanded 1374 bps YoY 93% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 16% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+35.5% -22.0%
35.3 45.3 26.1 Operating profit
— -50.3%
5.4 10.8 0.4 OPM %
+1374 bps -867 bps
15.2% 23.9% 1.5% Other income
+22.0% from loss 35.6 -32.3 29.2 Net profit?
+48.4% from loss 29.7 -17.4 20.0 PAT margin %
+733 bps +12231 bps
84.0% -38.3% 76.7% EPS (₹)
+48.1% from loss 4.68 -2.74 3.16
Quality of profit
Pre-tax profit ₹38.5 Cr: core business ₹2.9 Cr, other income ₹35.6 Cr.
Core profit YoY: from loss
· reported profit +48.4%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
16% of FY25 net profit of ₹91.7 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹30.7 ₹35.3
+15.3% above Net profit ₹32.7 ₹29.7
-9.2% in line
M Cap ₹508 Cr
P/E 14.0
PEG —
35% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-33.1%
144 215 Operating profit
-77.9%
4.0 18.0 OPM %
-560 bps
2.8% 8.4% Other income
—
1.4 0.0 Net profit
-77.5%
2.7 12.0 PAT margin %
-370 bps
1.9% 5.6% EPS (₹)
-81.2%
0.29 1.54
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹2.5 Cr, other income ₹1.4 Cr.
M Cap ₹508 Cr
P/E 48.2
PEG 1.79
Operating margin expanded 127 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-1.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.2% +14.4%
62.4 54.5 67.9 Operating profit
loss narrowed loss narrowed -3.1 -8.8 -4.3 OPM %
+127 bps +1114 bps
-5.0% -16.2% -6.3% Other income
+16.7% -9.1%
8.9 9.8 7.7 Net profit?
+19.5% from loss 1.8 -1.3 1.5 PAT margin %
+66 bps +517 bps
2.9% -2.3% 2.2% EPS (₹)
+27.3% from loss 0.14 -0.10 0.11
Quality of profit
Pre-tax profit ₹1.7 Cr: core business −₹5.5 Cr, other income ₹8.9 Cr, exceptional & other items −₹1.7 Cr.
Core profit YoY: loss narrowed
· reported profit +19.5%
Cash & debt
FY25 cash from operations −₹49.0 Cr.
Borrowings ₹2,672 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.0 ₹62.4
-9.6% below
M Cap ₹490 Cr
P/E 19.8
PEG 9.88
Profit +99% above its own trend Operating margin expanded 109 bps YoY 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +105%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.6% +5.1%
350 333 319 Operating profit
+58.7% +292.3%
12.3 3.1 7.7 OPM %
+109 bps +257 bps
3.5% 0.9% 2.4% Other income
+53.0% +49.4%
5.0 3.4 3.3 Net profit
+82.4% +299.6%
10.9 2.7 6.0 PAT margin %
+125 bps +230 bps
3.1% 0.8% 1.9% EPS (₹)
+82.0% +301.5%
2.73 0.68 1.50
Quality of profit
Pre-tax profit ₹14.8 Cr: core business ₹9.8 Cr, other income ₹5.0 Cr.
Core profit YoY: +105.3%
· reported profit +82.4%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
128% of FY25 net profit of ₹28.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹331 ₹350
+5.6% above Net profit ₹5.5 ₹10.9
+98.8% above
Profit +521% above its own trend Operating margin contracted 6000 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-66.7% -70.6%
5.0 17.0 15.0 Operating profit
loss narrowed to loss -5.0 2.0 -6.0 OPM %
-6000 bps -11176 bps
-100.0% 11.8% -40.0% Other income
+114.3% +114.3%
15.0 7.0 7.0 Net profit
+800.0% +50.0%
9.0 6.0 1.0 EPS (₹)
— +57.1%
0.33 0.21 0.02
Quality of profit
Pre-tax profit ₹9.0 Cr: core business −₹6.0 Cr, other income ₹15.0 Cr.
Core profit YoY: loss narrowed
· reported profit +800.0%
Cash & debt
FY25 cash from operations ₹110 Cr:
1222% of FY25 net profit of ₹9.0 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.9 ₹5.0
-72.0% below Net profit ₹1.4 ₹9.0
+520.7% above
39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -28%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.8% -3.5%
186 193 184 Operating profit
-15.5% -11.0%
9.7 10.9 11.4 OPM %
-100 bps -44 bps
5.2% 5.6% 6.2% Other income
+69.2% -4.5%
3.4 3.5 2.0 Net profit?
-3.7% -13.0%
6.5 7.4 6.7 PAT margin %
-16 bps -38 bps
3.5% 3.9% 3.6% EPS (₹)
-3.5% —
2.49 — 2.58
Quality of profit
Pre-tax profit ₹8.6 Cr: core business ₹5.2 Cr, other income ₹3.4 Cr.
Core profit YoY: -27.8%
· reported profit -3.7%
Against its own trend ?
Trend Actual Gap
Sales ₹174 ₹186
+6.8% above Net profit ₹6.8 ₹6.5
-5.2% in line
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+28.1% +8.2%
72.8 67.3 56.8 Operating profit
+31.8% +324.9%
8.1 1.9 6.1 OPM %
+31 bps +825 bps
11.1% 2.8% 10.8% Other income
+8.6% -42.6%
1.3 2.2 1.2 Net profit?
+53.9% from loss 0.4 -3.2 0.3 PAT margin %
+10 bps +529 bps
0.6% -4.7% 0.5% EPS (₹)
-13.3% from loss 0.13 -0.08 0.15
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹0.3 Cr, other income ₹1.3 Cr.
Core profit YoY: loss narrowed
· reported profit +53.9%
Cash & debt
FY25 cash from operations ₹13.0 Cr:
406% of FY25 net profit of ₹3.2 Cr.
Borrowings ₹188 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹58.1 ₹72.8
+25.4% above
M Cap ₹474 Cr
P/E 24.0
PEG 0.20
Operating margin contracted 1279 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+74.7% +35.0%
37.2 27.6 21.3 Operating profit
-6.7% +35.1%
5.5 4.0 5.8 OPM %
-1279 bps +2 bps
14.7% 14.7% 27.5% Other income
-41.5% -28.1%
1.5 2.1 2.6 Net profit?
+100.9% +30.1%
4.2 3.3 2.1 PAT margin %
+149 bps -43 bps
11.4% 11.8% 9.9% EPS (₹)
+100.8% +29.9%
2.43 1.87 1.21
Quality of profit
Pre-tax profit ₹5.7 Cr: core business ₹4.2 Cr, other income ₹1.5 Cr.
Core profit YoY: —
· reported profit +100.9%
Cash & debt
FY25 cash from operations −₹16.0 Cr.
Borrowings ₹101 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.6 ₹37.2
+14.3% above Net profit ₹4.2 ₹4.2
+0.5% in line
M Cap ₹467 Cr
P/E 320.9
PEG —
Profit -74% below its own trend 56% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +35%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-27.7% -5.7%
14.6 15.5 20.2 Operating profit
+10.9% -44.5%
0.4 0.7 0.3 OPM %
+88 bps -177 bps
2.5% 4.3% 1.7% Other income
-68.9% +356.0%
0.1 0.0 0.4 Net profit?
-48.6% -39.8%
0.2 0.4 0.5 PAT margin %
-70 bps -97 bps
1.7% 2.7% 2.4% EPS (₹)
+11.1% +28.2%
0.01 0.01 0.01
Quality of profit
Pre-tax profit ₹0.2 Cr: core business ₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: +34.6%
· reported profit -48.6%
Cash & debt
FY25 cash from operations −₹6.5 Cr:
-255% of FY25 net profit of ₹2.6 Cr.
Borrowings ₹8.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹31.8 ₹14.6
-54.1% below Net profit ₹1.0 ₹0.2
-74.3% below
M Cap ₹467 Cr
P/E 12.7
PEG 0.34
Profit +159% above its own trend Operating margin contracted 877 bps YoY 64% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -54%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.8% +4.0%
82.3 79.1 77.0 Operating profit
-22.4% +15.5%
19.1 16.6 24.6 OPM %
-877 bps +231 bps
23.2% 20.9% 32.0% Other income
from loss +90.2%
10.9 5.7 -0.6 Net profit?
+123.0% +128.2%
12.8 5.6 5.7 PAT margin %
+810 bps +846 bps
15.6% 7.1% 7.5% EPS (₹)
+194.8% +305.4%
2.27 0.56 0.77
Quality of profit
Pre-tax profit ₹17.1 Cr: core business ₹6.2 Cr, other income ₹10.9 Cr.
Core profit YoY: -54.5%
· reported profit +123.0%
Cash & debt
FY25 cash from operations ₹125 Cr:
272% of FY25 net profit of ₹45.9 Cr.
Borrowings ₹378 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.9 ₹82.3
+2.9% in line Net profit ₹4.9 ₹12.8
+159.2% above
M Cap ₹467 Cr
P/E 13.3
PEG 0.10
Operating margin contracted 1252 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.1% -1.6%
172 175 181 Operating profit
-98.4% from loss 0.4 -5.3 23.1 OPM %
-1252 bps +325 bps
0.2% -3.0% 12.7% Other income
+86.0% -78.8%
7.6 35.8 4.1 Net profit?
-87.9% -88.5%
2.1 18.2 17.3 PAT margin %
-830 bps -919 bps
1.2% 10.4% 9.5% EPS (₹)
-88.0% -88.8%
0.10 0.89 0.83
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹5.8 Cr, other income ₹7.6 Cr.
Core profit YoY: to loss
· reported profit -87.9%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
110% of FY25 net profit of ₹25.3 Cr.
Borrowings ₹64.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹172 ₹172
-0.0% in line
M Cap ₹463 Cr
P/E 19.9
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1083 bps YoY 62% 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
Dec 2025 Sep 2025 Dec 2024
Sales
+8.3% +3.4%
89.9 87.0 83.0 Operating profit
+982.4% +260.8%
10.8 3.0 1.0 OPM %
+1083 bps +859 bps
12.0% 3.4% 1.2% Other income
from loss from loss 12.4 -2.0 -9.0 Net profit
from loss from loss 15.3 -3.0 -9.0 PAT margin %
+2786 bps +2047 bps
17.0% -3.4% -10.8% EPS (₹)
from loss from loss 26.81 -5.78 -16.45
Quality of profit
Pre-tax profit ₹19.9 Cr: core business ₹7.5 Cr, other income ₹12.4 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹28.0 Cr:
-1% of FY25 net profit of ₹1,884 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.7 ₹89.9
+25.5% above
M Cap ₹459 Cr
P/E 13.1
PEG —
Profit -42% below its own trend Operating margin contracted 196 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.5% +9.2%
349 319 377 Operating profit
-31.0% +11.1%
20.0 18.0 29.0 OPM %
-196 bps +10 bps
5.7% 5.6% 7.7% Other income
+0.0% -60.0%
2.0 5.0 2.0 Net profit?
-71.0% -27.2%
3.1 4.3 10.8 PAT margin %
-196 bps -45 bps
0.9% 1.3% 2.9% EPS (₹)
-71.0% -27.5%
1.00 1.38 3.45
Quality of profit
Pre-tax profit ₹4.2 Cr: core business ₹3.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹0.8 Cr.
Core profit YoY: -75.0%
· reported profit -71.0%
Cash & debt
FY25 cash from operations ₹68.0 Cr:
169% of FY25 net profit of ₹40.1 Cr.
Borrowings ₹299 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹360 ₹349
-3.2% in line Net profit ₹5.4 ₹3.1
-41.9% below
M Cap ₹456 Cr
P/E 11.5
PEG 0.21
Operating margin expanded 278 bps YoY 62% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+32.6% +38.6%
122 88.0 92.0 Operating profit
+75.0% +180.0%
14.0 5.0 8.0 OPM %
+278 bps +579 bps
11.5% 5.7% 8.7% Other income
+100.0% +42.9%
10.0 7.0 5.0 Net profit
+300.0% —
12.0 0.0 3.0 PAT margin %
+658 bps +984 bps
9.8% 0.0% 3.3% EPS (₹)
+326.1% —
5.71 0.15 1.34
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹6.0 Cr, other income ₹10.0 Cr.
Core profit YoY: from loss
· reported profit +300.0%
Cash & debt
FY25 cash from operations ₹34.0 Cr:
155% of FY25 net profit of ₹22.0 Cr.
Borrowings ₹77.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹122
+20.0% above
Profit +26% above its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.4% -11.9%
130 148 126 Operating profit
+0.7% -54.8%
10.4 23.1 10.4 OPM %
-22 bps -759 bps
8.0% 15.6% 8.2% Other income
+144.7% +9.5%
1.1 1.1 0.5 Net profit?
-37.0% -91.3%
0.8 8.6 1.2 PAT margin %
-37 bps -526 bps
0.6% 5.8% 0.9% EPS (₹)
-36.1% -90.4%
0.53 5.53 0.83
Quality of profit
Pre-tax profit ₹0.8 Cr: core business −₹0.4 Cr, other income ₹1.1 Cr.
Core profit YoY: to loss
· reported profit -37.0%
Cash & debt
FY25 cash from operations ₹50.0 Cr.
Borrowings ₹99.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹130
-2.6% in line Net profit ₹0.6 ₹0.8
+26.1% above
M Cap ₹444 Cr
P/E 3.5
PEG 0.07
Profit +12% above its own trend Operating margin contracted 156 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -4%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.4% +24.6%
35.6 28.6 32.8 Operating profit
-2.3% from loss 5.1 -0.0 5.2 OPM %
-156 bps +1440 bps
14.3% -0.1% 15.8% Other income
+474.1% +10.7%
2.8 2.5 0.5 Net profit?
+47.9% -95.5%
5.3 117 3.6 PAT margin %
+399 bps —
14.9% — 10.9% EPS (₹)
+41.0% -95.5%
2.58 56.84 1.83
Quality of profit
Pre-tax profit ₹7.1 Cr: core business ₹4.3 Cr, other income ₹2.8 Cr.
Core profit YoY: -3.6%
· reported profit +47.9%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
211% of FY25 net profit of ₹13.3 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹36.5 ₹35.6
-2.4% in line Net profit ₹4.8 ₹5.3
+11.8% above
M Cap ₹440 Cr
P/E 13.9
PEG 0.13
Profit +21% above its own trend Operating margin expanded 695 bps YoY 28% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +177%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+58.1% +23.8%
52.2 42.2 33.0 Operating profit
+98.0% +82.3%
18.0 9.9 9.1 OPM %
+695 bps +1108 bps
34.5% 23.4% 27.5% Other income
+61.5% -27.3%
3.3 4.5 2.0 Net profit?
+118.2% +53.2%
8.2 5.3 3.7 PAT margin %
+432 bps +301 bps
15.7% 12.7% 11.4% EPS (₹)
+100.0% +42.9%
0.20 0.14 0.10
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹8.7 Cr, other income ₹3.3 Cr.
Core profit YoY: +176.8%
· reported profit +118.2%
Cash & debt
FY25 cash from operations −₹40.0 Cr:
-273% of FY25 net profit of ₹14.7 Cr.
Borrowings ₹22.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹42.0 ₹52.2
+24.3% above Net profit ₹6.8 ₹8.2
+21.1% above
M Cap ₹433 Cr
P/E 88.0
PEG —
Profit -81% below its own trend Operating margin expanded 626 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
Dec 2025 Sep 2025 Dec 2024
Sales
+159.5% +25.5%
16.2 12.9 6.2 Operating profit
loss widened loss widened -3.9 -2.3 -1.9 OPM %
+626 bps -610 bps
-24.3% -18.2% -30.5% Other income
+3.5% -13.5%
6.7 7.7 6.5 Net profit?
-90.4% -88.4%
0.2 1.9 2.3 PAT margin %
-3534 bps -1334 bps
1.4% 14.7% 36.7% EPS (₹)
-74.2% -74.2%
0.51 1.98 1.98
Quality of profit
Pre-tax profit ₹0.3 Cr: core business −₹6.4 Cr, other income ₹6.7 Cr.
Core profit YoY: loss widened
· reported profit -90.4%
Cash & debt
FY25 cash from operations −₹15.6 Cr:
-873% of FY25 net profit of ₹1.8 Cr.
Borrowings ₹50.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.1 ₹16.2
+99.4% above Net profit ₹1.1 ₹0.2
-80.7% below
M Cap ₹420 Cr
P/E 30.1
PEG 0.34
Profit -37% below its own trend Operating margin contracted 278 bps YoY 44% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -43%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+30.4% +52.2%
77.2 50.7 59.2 Operating profit
+6.1% -16.3%
9.4 11.3 8.9 OPM %
-278 bps -1000 bps
12.2% 22.2% 15.0% Other income
— —
2.0 0.0 0.2 Net profit?
-19.7% -9.6%
3.3 3.6 4.1 PAT margin %
-264 bps -290 bps
4.2% 7.1% 6.9% EPS (₹)
-61.1% -7.2%
1.54 1.66 3.96
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹2.6 Cr, other income ₹2.0 Cr.
Core profit YoY: -43.1%
· reported profit -19.7%
Cash & debt
FY25 cash from operations −₹16.0 Cr:
-128% of FY25 net profit of ₹12.5 Cr.
Borrowings ₹166 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹52.9 ₹77.2
+46.1% above Net profit ₹5.2 ₹3.3
-37.2% below
Profit +999% above its own trend Operating margin contracted 553 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
Dec 2025 Sep 2025 Dec 2024
Sales
— -0.6%
4,691 4,717 45.1 Operating profit
— -15.1%
438 516 6.7 OPM %
-553 bps -160 bps
9.3% 10.9% 14.9% Other income
— +43.5%
53.5 37.3 0.1 Net profit?
— -22.7%
163 211 2.9 PAT margin %
-299 bps -100 bps
3.5% 4.5% 6.5% EPS (₹)
-30.0% +3.2%
1.61 1.56 2.30
Quality of profit
Pre-tax profit ₹211 Cr: core business ₹158 Cr, other income ₹53.5 Cr.
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-72% of FY25 net profit of ₹11.2 Cr.
Borrowings ₹34.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹44.5 ₹4,691
+999.0% above Net profit ₹5.8 ₹163
+999.0% above
How to read this page
The numbers. Each card is one company's Q3 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, 19:16 IST
