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
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The next results season has started: 43 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 ₹235 Cr
P/E 11.2
PEG 0.36
Turnaround: profit against a loss a year ago Operating margin expanded 729 bps YoY 67% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.2% -1.2%
247 250 250 Operating profit
— +111.1%
19.0 9.0 1.0 OPM %
+729 bps +409 bps
7.7% 3.6% 0.4% Other income
-20.0% -20.0%
4.0 5.0 5.0 Net profit
from loss from loss 5.0 -3.0 -11.0 PAT margin %
+642 bps +322 bps
2.0% -1.2% -4.4% EPS (₹)
from loss from loss 1.28 -0.67 -2.54
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹2.0 Cr, other income ₹4.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹76.0 Cr.
Borrowings ₹449 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹248 ₹247
-0.2% in line
M Cap ₹233 Cr
P/E 35.3
PEG —
Profit -39% below its own trend Operating margin expanded 1911 bps YoY 50% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-61.6% -10.7%
11.4 12.8 29.8 Operating profit
-15.2% +148.1%
4.0 1.6 4.7 OPM %
+1911 bps +2235 bps
34.9% 12.6% 15.8% Other income
-10.0% +44.1%
1.0 0.7 1.1 Net profit?
-47.6% +438.6%
1.1 0.2 2.0 PAT margin %
+247 bps +772 bps
9.2% 1.5% 6.8% EPS (₹)
-60.3% +316.7%
0.25 0.06 0.63
Quality of profit
Pre-tax profit ₹2.0 Cr: core business ₹1.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -62.0%
· reported profit -47.6%
Cash & debt
FY25 cash from operations ₹23.3 Cr:
213% of FY25 net profit of ₹10.9 Cr.
Borrowings ₹63.9 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.9 ₹11.4
-36.0% below Net profit ₹1.7 ₹1.1
-39.5% below
M Cap ₹225 Cr
P/E 9.4
PEG 0.16
Operating margin contracted 641 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.3% +18.6%
131 111 139 Operating profit
-32.9% -3.9%
20.5 21.3 30.5 OPM %
-641 bps -363 bps
15.6% 19.2% 22.0% Other income
+17.7% +0.3%
2.9 2.9 2.5 Net profit?
-58.2% -15.0%
6.4 7.5 15.3 PAT margin %
-616 bps -192 bps
4.9% 6.8% 11.0% EPS (₹)
-58.3% -14.9%
1.65 1.94 3.96
Quality of profit
Pre-tax profit ₹9.6 Cr: core business ₹6.7 Cr, other income ₹2.9 Cr.
Core profit YoY: -61.7%
· reported profit -58.2%
Cash & debt
FY25 cash from operations ₹50.0 Cr:
523% of FY25 net profit of ₹9.6 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹131
-16.9% below
M Cap ₹218 Cr
P/E 33.1
PEG —
Operating margin contracted 1271 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
-15.3% +3.0%
70.1 68.0 82.8 Operating profit
to loss loss widened -6.0 -5.3 3.4 OPM %
-1271 bps -85 bps
-8.6% -7.8% 4.1% Other income
+144.5% +243.9%
22.4 6.5 9.2 Net profit
+121.5% from loss 12.0 -7.2 5.4 PAT margin %
+1054 bps +2769 bps
17.1% -10.6% 6.5% EPS (₹)
+121.5% from loss 1.44 -0.87 0.65
Quality of profit
Pre-tax profit ₹12.1 Cr: core business −₹10.2 Cr, other income ₹22.4 Cr.
Core profit YoY: loss widened
· reported profit +121.5%
Cash & debt
FY25 cash from operations ₹52.0 Cr:
499% of FY25 net profit of ₹10.4 Cr.
Borrowings ₹50.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹53.6 ₹70.1
+30.8% above
M Cap ₹218 Cr
P/E 13.2
PEG 0.13
Profit -45% below its own trend 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
+16.7% -10.8%
62.7 70.3 53.7 Operating profit
+87.8% -28.8%
1.1 1.6 0.6 OPM %
+67 bps -45 bps
1.8% 2.2% 1.1% Other income
+14.7% +34.0%
3.1 2.3 2.7 Net profit?
-12.0% +20.2%
2.2 1.9 2.5 PAT margin %
-116 bps +92 bps
3.6% 2.7% 4.7% EPS (₹)
-12.2% +19.8%
2.24 1.87 2.55
Quality of profit
Pre-tax profit ₹2.8 Cr: core business −₹0.3 Cr, other income ₹3.1 Cr.
Core profit YoY: loss narrowed
· reported profit -12.0%
Cash & debt
FY25 cash from operations −₹6.0 Cr:
-91% of FY25 net profit of ₹6.6 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹55.5 ₹62.7
+13.0% above Net profit ₹4.1 ₹2.2
-45.3% below
M Cap ₹218 Cr
P/E 12.5
PEG 0.48
Operating margin expanded 171 bps YoY 54% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +22%) FY25 operating cash flow was only 30% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-16.3% -19.2%
107 132 128 Operating profit
+7.2% -57.3%
8.3 19.5 7.8 OPM %
+171 bps -696 bps
7.8% 14.8% 6.1% Other income
+139.2% +8.5%
2.9 2.6 1.2 Net profit?
-65.1% -68.1%
4.5 14.3 13.0 PAT margin %
-596 bps -653 bps
4.3% 10.8% 10.2% EPS (₹)
-65.1% -68.1%
2.13 6.68 6.11
Quality of profit
Pre-tax profit ₹5.3 Cr: core business ₹2.5 Cr, other income ₹2.9 Cr.
Core profit YoY: +21.6%
· reported profit -65.1%
Cash & debt
FY25 cash from operations ₹8.0 Cr:
30% of FY25 net profit of ₹26.7 Cr.
Borrowings ₹139 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹153 ₹107
-30.2% below
M Cap ₹217 Cr
P/E 90.4
PEG —
Profit -97% below its own trend Operating margin contracted 1610 bps YoY 65% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-69.5% -31.0%
11.3 16.4 37.1 Operating profit
-88.4% -59.0%
1.1 2.7 9.6 OPM %
-1610 bps -672 bps
9.8% 16.5% 25.9% Other income
+277.8% -15.0%
0.3 0.4 0.1 Net profit
-94.0% -76.1%
0.4 1.6 6.5 PAT margin %
-1411 bps -650 bps
3.4% 9.9% 17.6% EPS (₹)
-94.0% -76.1%
0.38 1.59 6.35
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.2 Cr, other income ₹0.3 Cr.
Core profit YoY: -97.9%
· reported profit -94.0%
Cash & debt
FY25 cash from operations ₹14.2 Cr:
295% of FY25 net profit of ₹4.8 Cr.
Borrowings ₹0.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹58.1 ₹11.3
-80.5% below Net profit ₹13.0 ₹0.4
-97.0% below
M Cap ₹210 Cr
P/E 8.4
PEG 0.06
Profit +686% above its own trend 83% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 41% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— -54.4%
54.3 119 0.2 Operating profit
from loss from loss 0.6 -0.1 -0.6 OPM %
— +119 bps
1.1% -0.1% — Other income
+101.2% -40.9%
1.8 3.1 0.9 Net profit?
— +14.1%
2.1 1.8 0.2 PAT margin %
-7775 bps +228 bps
3.8% 1.5% 81.5% EPS (₹)
— +13.5%
1.51 1.33 0.12
Quality of profit
Pre-tax profit ₹3.1 Cr: core business ₹0.5 Cr, other income ₹1.8 Cr, exceptional & other items ₹0.8 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹8.0 Cr:
41% of FY25 net profit of ₹19.6 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.3 ₹54.3
+999.0% above Net profit ₹0.3 ₹2.1
+685.5% above
Profit +12% above its own trend Operating margin contracted 226 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
-0.7% -3.3%
19.2 19.8 19.3 Operating profit
-49.6% -8.3%
0.4 0.5 0.9 OPM %
-226 bps -13 bps
2.3% 2.5% 4.6% Other income
+229.2% +181.2%
0.6 0.2 0.2 Net profit?
-44.2% from loss 0.2 -0.2 0.3 PAT margin %
-71 bps +186 bps
0.9% -0.9% 1.6% EPS (₹)
-37.5% from loss 0.04 -0.04 0.06
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.5 Cr, other income ₹0.6 Cr.
Core profit YoY: to loss
· reported profit -44.2%
Cash & debt
FY25 cash from operations ₹8.9 Cr:
66% of FY25 net profit of ₹13.5 Cr.
Borrowings ₹29.8 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.9 ₹19.2
-8.1% below Net profit ₹0.2 ₹0.2
+11.6% above
M Cap ₹209 Cr
P/E 33.5
PEG —
Profit -54% below its own trend 65% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -60%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.0% +24.2%
429 345 390 Operating profit
+15.0% from loss 23.0 -9.4 20.0 OPM %
+23 bps +809 bps
5.4% -2.7% 5.1% Other income
+11.1% +179.3%
10.0 3.6 9.0 Net profit
-7.1% from loss 13.0 -14.1 14.0 PAT margin %
-56 bps +712 bps
3.0% -4.1% 3.6% EPS (₹)
-9.8% from loss 0.83 -0.92 0.92
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹6.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -60.0%
· reported profit -7.1%
Cash & debt
FY25 cash from operations ₹55.0 Cr:
134% of FY25 net profit of ₹41.1 Cr.
Borrowings ₹435 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹447 ₹429
-4.1% in line Net profit ₹28.0 ₹13.0
-53.6% below
M Cap ₹208 Cr
P/E 6.9
PEG 0.02
Profit +671% above its own trend Operating margin contracted 4423 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 17% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+522.0% +150.0%
23.4 9.4 3.8 Operating profit
to loss to loss -0.0 0.2 1.7 OPM %
-4423 bps -272 bps
-0.1% 2.7% 44.2% Other income
+451.4% +236.2%
6.8 2.0 1.2 Net profit?
+648.0% —
3.7 0.2 0.5 PAT margin %
+266 bps +1402 bps
15.8% 1.8% 13.1% EPS (₹)
+575.0% —
0.27 0.01 0.04
Quality of profit
Pre-tax profit ₹4.6 Cr: core business −₹2.3 Cr, other income ₹6.8 Cr.
Core profit YoY: loss widened
· reported profit +648.0%
Cash & debt
FY25 cash from operations ₹4.0 Cr:
17% of FY25 net profit of ₹23.4 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.1 ₹23.4
+644.9% above Net profit ₹0.5 ₹3.7
+671.0% above
M Cap ₹208 Cr
P/E 26.8
PEG 2.43
Profit +184% above its own trend Operating margin expanded 263 bps YoY 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +17%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.2% +1.7%
72.0 70.8 81.1 Operating profit
+24.4% +133.0%
6.6 2.8 5.3 OPM %
+263 bps +518 bps
9.2% 4.0% 6.6% Other income
— -52.0%
1.4 2.9 0.0 Net profit
+77.6% +89.7%
3.5 1.8 1.9 PAT margin %
+240 bps +222 bps
4.8% 2.6% 2.4% EPS (₹)
+70.0% +88.9%
0.34 0.18 0.20
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹3.4 Cr, other income ₹1.4 Cr.
Core profit YoY: +16.7%
· reported profit +77.6%
Cash & debt
FY25 cash from operations −₹21.0 Cr:
-205% of FY25 net profit of ₹10.2 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹74.5 ₹72.0
-3.3% in line Net profit ₹1.2 ₹3.5
+184.2% above
M Cap ₹203 Cr
P/E 10.0
PEG 0.40
Operating margin expanded 296 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.6% +12.4%
23.8 21.1 22.9 Operating profit
+19.7% +16.0%
5.2 4.5 4.4 OPM %
+296 bps +67 bps
22.0% 21.3% 19.0% Other income
+16.1% -1.8%
2.2 2.3 1.9 Net profit
+17.7% +7.7%
5.3 4.9 4.5 PAT margin %
+269 bps -99 bps
22.4% 23.4% 19.7% EPS (₹)
+17.7% +7.7%
10.65 9.89 9.05
Quality of profit
Pre-tax profit ₹6.6 Cr: core business ₹4.3 Cr, other income ₹2.2 Cr.
Core profit YoY: +24.1%
· reported profit +17.7%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
113% of FY25 net profit of ₹18.5 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹21.0 ₹23.8
+13.3% above Net profit ₹5.2 ₹5.3
+1.8% 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
-29.2% +21.1%
46.0 38.0 65.0 Operating profit
-27.3% from loss 8.0 -5.0 11.0 OPM %
+47 bps +3055 bps
17.4% -13.2% 16.9% Other income
+14.3% +14.3%
8.0 7.0 7.0 Net profit
+0.0% from loss 4.0 -7.0 4.0 PAT margin %
+254 bps +2712 bps
8.7% -18.4% 6.2% EPS (₹)
+10.0% from loss 0.11 -0.20 0.10
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹2.0 Cr, other income ₹8.0 Cr.
Core profit YoY: loss widened
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹17.0 Cr.
Borrowings ₹126 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹54.9 ₹46.0
-16.2% below
Profit +92% above its own trend Operating margin contracted 106 bps YoY 75% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -50%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.5% -10.5%
71.7 80.1 72.8 Operating profit
-12.9% +69.3%
5.8 3.4 6.6 OPM %
-106 bps +379 bps
8.1% 4.3% 9.1% Other income
+117.1% -24.1%
4.2 5.6 2.0 Net profit?
+54.5% +78.9%
8.0 4.5 5.2 PAT margin %
+406 bps +560 bps
11.2% 5.6% 7.1% EPS (₹)
+47.4% +75.0%
0.28 0.16 0.19
Quality of profit
Pre-tax profit ₹5.7 Cr: core business ₹1.4 Cr, other income ₹4.2 Cr.
Core profit YoY: -50.0%
· reported profit +54.5%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
226% of FY25 net profit of ₹21.7 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹95.6 ₹71.7
-25.0% below Net profit ₹4.2 ₹8.0
+92.4% above
M Cap ₹193 Cr
P/E 4.3
PEG 0.12
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.6% +7.3%
79.7 74.3 74.7 Operating profit
+2.4% -28.1%
8.7 12.2 8.5 OPM %
-45 bps -541 bps
11.0% 16.4% 11.4% Other income
-44.3% -27.8%
3.9 5.3 6.9 Net profit?
loss narrowed loss narrowed -2.6 -6.1 -3.8 PAT margin %
+170 bps +495 bps
-3.3% -8.3% -5.0% EPS (₹)
loss narrowed loss narrowed -0.08 -0.19 -0.12
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹3.1 Cr, other income ₹3.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹83.0 Cr:
652% of FY25 net profit of ₹12.7 Cr.
Borrowings ₹399 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹98.1 ₹79.7
-18.8% below
M Cap ₹191 Cr
P/E 14.4
PEG 0.31
Turnaround: profit against a loss a year ago 97% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-56.9% -29.4%
16.6 23.5 38.4 Operating profit
-60.6% -71.0%
0.7 2.5 1.9 OPM %
-41 bps -634 bps
4.4% 10.8% 4.8% Other income
from loss -13.2%
5.3 6.1 -5.2 Net profit?
from loss -31.1%
5.5 8.0 -4.6 PAT margin %
+4508 bps -82 bps
33.2% 34.0% -11.9% EPS (₹)
from loss -31.0%
1.87 2.71 -1.75
Quality of profit
Pre-tax profit ₹5.5 Cr: core business ₹0.2 Cr, other income ₹5.3 Cr.
Core profit YoY: -71.6%
Cash & debt
FY25 cash from operations ₹3.0 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹52.6 ₹16.6
-68.5% below
Profit -50% below 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
+21.9% +7.0%
302 282 247 Operating profit
-7.5% -1.5%
8.9 9.0 9.6 OPM %
-94 bps -26 bps
3.0% 3.2% 3.9% Other income
— +569.5%
2.5 0.4 0.2 Net profit
-51.6% +16.9%
1.7 1.4 3.4 PAT margin %
-84 bps +5 bps
0.6% 0.5% 1.4% EPS (₹)
-51.9% +16.0%
0.87 0.75 1.81
Quality of profit
Pre-tax profit ₹2.2 Cr: core business −₹0.3 Cr, other income ₹2.5 Cr.
Core profit YoY: to loss
· reported profit -51.6%
Cash & debt
FY25 cash from operations ₹36.0 Cr:
306% of FY25 net profit of ₹11.8 Cr.
Borrowings ₹171 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹249 ₹302
+20.9% above Net profit ₹3.3 ₹1.7
-50.3% below
M Cap ₹187 Cr
P/E 23.4
PEG 0.32
Profit +999% above its own trend Operating margin expanded 427 bps YoY 63% 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
+119.6% +86.4%
10.1 5.4 4.6 Operating profit
+195.5% +450.6%
1.7 0.3 0.6 OPM %
+427 bps +1101 bps
16.6% 5.6% 12.4% Other income
+368.9% -47.1%
2.7 5.1 0.6 Net profit
— -12.6%
3.4 3.9 0.2 PAT margin %
+3003 bps -3807 bps
33.6% 71.7% 3.6% EPS (₹)
— -12.6%
3.62 4.14 0.17
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹1.6 Cr, other income ₹2.7 Cr.
Core profit YoY: +247.0%
Cash & debt
FY25 cash from operations −₹1.0 Cr:
-20% of FY25 net profit of ₹4.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.9 ₹10.1
+106.2% above Net profit ₹0.2 ₹3.4
+999.0% above
M Cap ₹185 Cr
P/E 7.0
PEG 0.09
Profit +68% above its own trend Operating margin expanded 188 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +47%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.7% -99.0%
47.6 4,842 38.8 Operating profit
+76.4% -98.9%
2.9 278 1.7 OPM %
+188 bps +44 bps
6.2% 5.7% 4.3% Other income
— -99.6%
1.3 294 0.0 Net profit?
+146.8% -37.8%
3.1 5.0 1.3 PAT margin %
+329 bps +644 bps
6.5% 0.1% 3.3% EPS (₹)
+150.0% -44.4%
0.05 0.09 0.02
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹2.0 Cr, other income ₹1.3 Cr.
Core profit YoY: +46.8%
· reported profit +146.8%
Cash & debt
FY25 cash from operations ₹17.0 Cr:
140% of FY25 net profit of ₹12.2 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹55.6 ₹47.6
-14.4% below Net profit ₹1.9 ₹3.1
+68.4% above
M Cap ₹184 Cr
P/E 23.2
PEG 0.32
Profit -45% below its own trend 70% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -63%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-22.1% -11.7%
131 148 168 Operating profit
+10.4% -8.9%
3.3 3.7 3.0 OPM %
+75 bps +8 bps
2.6% 2.5% 1.8% Other income
+540.6% +363.5%
1.8 0.4 0.3 Net profit?
+10.1% -34.1%
2.0 3.0 1.8 PAT margin %
+44 bps -51 bps
1.5% 2.0% 1.1% EPS (₹)
+9.7% -34.3%
1.13 1.72 1.03
Quality of profit
Pre-tax profit ₹2.5 Cr: core business ₹0.8 Cr, other income ₹1.8 Cr.
Core profit YoY: -63.3%
· reported profit +10.1%
Cash & debt
FY25 cash from operations −₹43.0 Cr:
-573% of FY25 net profit of ₹7.5 Cr.
Borrowings ₹62.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹337 ₹131
-61.1% below Net profit ₹3.5 ₹2.0
-44.9% below
Profit +11% above its own trend 29% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 12% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.1% -0.5%
33.3 33.5 33.3 Operating profit
-2.5% -5.5%
3.4 3.6 3.5 OPM %
-27 bps -53 bps
10.2% 10.7% 10.4% Other income
-50.0% -63.5%
0.7 1.9 1.4 Net profit?
-24.9% -26.9%
2.3 3.2 3.1 PAT margin %
-232 bps -251 bps
7.0% 9.5% 9.3% EPS (₹)
-22.9% -24.6%
1.01 1.34 1.31
Quality of profit
Pre-tax profit ₹2.4 Cr: core business ₹1.7 Cr, other income ₹0.7 Cr.
Core profit YoY: -20.8%
· reported profit -24.9%
Cash & debt
FY25 cash from operations ₹2.0 Cr:
12% of FY25 net profit of ₹16.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.2 ₹33.3
+3.5% in line Net profit ₹2.1 ₹2.3
+11.2% above
M Cap ₹182 Cr
P/E 18.7
PEG —
Profit -91% below its own trend Operating margin contracted 809 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
+19.8% +19.8%
171 143 143 Operating profit
-63.7% -2.4%
6.0 6.2 16.6 OPM %
-809 bps -80 bps
3.5% 4.3% 11.6% Other income
+50.5% -32.8%
2.4 3.6 1.6 Net profit?
-93.2% -67.5%
0.6 1.7 8.1 PAT margin %
-539 bps -87 bps
0.3% 1.2% 5.7% EPS (₹)
-97.2% -92.3%
0.02 0.26 0.72
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹1.3 Cr, other income ₹2.4 Cr.
Core profit YoY: to loss
· reported profit -93.2%
Cash & debt
FY25 cash from operations −₹40.0 Cr:
-125% of FY25 net profit of ₹32.1 Cr.
Borrowings ₹202 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹171
+34.5% above Net profit ₹5.8 ₹0.6
-90.6% below
M Cap ₹181 Cr
P/E 19.1
PEG 0.26
Profit -77% below its own trend 38% 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
-18.9% -23.1%
50.8 66.1 62.6 Operating profit
-21.7% -40.2%
3.7 6.1 4.7 OPM %
-26 bps -207 bps
7.2% 9.3% 7.5% Other income
+116.7% +188.9%
0.5 0.2 0.2 Net profit
-53.5% -58.5%
0.9 2.2 2.0 PAT margin %
-136 bps -156 bps
1.8% 3.4% 3.2% EPS (₹)
-54.5% -60.0%
0.10 0.25 0.22
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹0.8 Cr, other income ₹0.5 Cr.
Core profit YoY: -61.4%
· reported profit -53.5%
Cash & debt
FY25 cash from operations −₹37.0 Cr:
-678% of FY25 net profit of ₹5.5 Cr.
Borrowings ₹82.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹84.6 ₹50.8
-40.0% below Net profit ₹4.0 ₹0.9
-76.8% below
M Cap ₹181 Cr
P/E 177.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 215 bps YoY 39% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-4.5% -10.5%
30.9 34.5 32.3 Operating profit
+42.9% +181.7%
2.0 0.7 1.4 OPM %
+215 bps +442 bps
6.5% 2.1% 4.3% Other income
+371.3% -75.3%
0.4 1.7 0.1 Net profit?
from loss -30.8%
0.7 1.1 -0.0 PAT margin %
+240 bps -70 bps
2.4% 3.1% -0.0% EPS (₹)
— -27.5%
0.29 0.40 —
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.6 Cr, other income ₹0.4 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹36.4 ₹30.9
-15.3% below
M Cap ₹180 Cr
P/E 11.5
PEG 1.64
Profit +681% above its own trend Operating margin contracted 1168 bps YoY 86% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -67%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.3% +11.5%
29.3 26.3 26.8 Operating profit
-51.8% +3.4%
2.7 2.6 5.6 OPM %
-1168 bps -72 bps
9.2% 9.9% 20.9% Other income
from loss from loss 8.3 -0.2 -2.9 Net profit?
+290.5% +909.1%
7.8 0.8 2.0 PAT margin %
+1909 bps +2359 bps
26.5% 2.9% 7.4% EPS (₹)
+313.3% +933.3%
0.62 0.06 0.15
Quality of profit
Pre-tax profit ₹9.6 Cr: core business ₹1.4 Cr, other income ₹8.3 Cr.
Core profit YoY: -66.8%
· reported profit +290.5%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
112% of FY25 net profit of ₹18.8 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.6 ₹29.3
+10.2% above Net profit ₹1.0 ₹7.8
+680.9% above
M Cap ₹176 Cr
P/E 13.8
PEG 0.51
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— loss narrowed 0.0 -0.0 0.0 Operating profit
loss narrowed loss widened -0.3 -0.3 -0.8 Other income
-24.3% from loss 1.5 -0.0 1.9 Net profit
+18.1% from loss 1.1 -0.6 0.9 EPS (₹)
+33.3% from loss 0.08 -0.04 0.06
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹0.4 Cr, other income ₹1.5 Cr.
Core profit YoY: loss narrowed
· reported profit +18.1%
Cash & debt
FY25 cash from operations −₹19.5 Cr.
Borrowings nil at Mar 2025.
M Cap ₹174 Cr
P/E 46.8
PEG —
Profit -76% below its own trend Operating margin contracted 1257 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.5% -28.3%
14.8 20.6 12.1 Operating profit
-12.7% -58.8%
4.7 11.5 5.4 OPM %
-1257 bps -2374 bps
32.1% 55.9% 44.7% Other income
-46.6% -64.2%
0.5 1.4 0.9 Net profit?
-51.2% -84.9%
1.0 6.7 2.1 PAT margin %
-1020 bps -2574 bps
6.9% 32.6% 17.1% EPS (₹)
-51.4% -85.0%
0.54 3.59 1.11
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹1.0 Cr, other income ₹0.5 Cr.
Core profit YoY: -45.3%
· reported profit -51.2%
Against its own trend ?
Trend Actual Gap
Sales ₹14.3 ₹14.8
+3.2% in line Net profit ₹4.1 ₹1.0
-75.6% below
Profit -43% below its own trend 77% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +361%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.4% +16.1%
140 121 125 Operating profit
+38.9% -3.3%
2.3 2.4 1.7 OPM %
+31 bps -33 bps
1.6% 2.0% 1.3% Other income
-10.2% +79.6%
1.6 0.9 1.8 Net profit?
+0.2% +13.8%
1.2 1.1 1.2 PAT margin %
-11 bps -2 bps
0.9% 0.9% 1.0% EPS (₹)
+0.0% +0.0%
0.01 0.01 0.01
Quality of profit
Pre-tax profit ₹2.1 Cr: core business ₹0.5 Cr, other income ₹1.6 Cr.
Core profit YoY: +361.0%
· reported profit +0.2%
Cash & debt
FY25 cash from operations −₹91.0 Cr:
-2319% of FY25 net profit of ₹3.9 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹124 ₹140
+12.9% above Net profit ₹2.2 ₹1.2
-42.5% below
M Cap ₹172 Cr
P/E 59.7
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 934 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
+408.1% +28.7%
63.9 49.7 12.6 Operating profit
from loss -1.8%
2.7 2.7 -0.7 OPM %
+934 bps -130 bps
4.2% 5.5% -5.2% Other income
from loss +798.8%
7.3 0.8 -7.7 Net profit?
from loss from loss 0.4 -0.2 -5.8 PAT margin %
+4697 bps +95 bps
0.6% -0.3% -46.3% EPS (₹)
from loss —
0.01 0.07 -0.24
No EPS growth against Sep 2025: ₹10 to ₹2 split in Feb 2026 and 2:1 bonus in Feb 2026.
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹6.9 Cr, other income ₹7.3 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹27.0 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
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, 20:15 IST
