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: 43 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q3 FY26 scoreboard
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
Latest Q3 FY26 results 4316
Page 17 of 144
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M Cap ₹13,984 Cr
P/E 34.9
PEG 2.18
Profit -20% below its own trend Operating margin contracted 137 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+30.8% +17.1%
942 804 720 Operating profit
+21.0% +13.4%
160 141 132 OPM %
-137 bps -55 bps
16.9% 17.5% 18.3% Other income
-48.5% -1.5%
19.4 19.7 37.7 Net profit?
-6.2% +0.8%
103 102 110 PAT margin %
-431 bps -177 bps
10.9% 12.7% 15.2% EPS (₹)
-6.5% +0.7%
4.29 4.26 4.59
Quality of profit
Pre-tax profit ₹135 Cr: core business ₹115 Cr, other income ₹19.4 Cr.
Core profit YoY: +6.2%
· reported profit -6.2%
Cash & debt
FY25 cash from operations ₹442 Cr:
108% of FY25 net profit of ₹407 Cr.
Borrowings ₹102 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹810 ₹942
+16.3% above Net profit ₹129 ₹103
-20.4% below
M Cap ₹13,983 Cr
P/E —
PEG —
₹ Cr
Dec 2025
Sales
267 Operating profit
51.0 OPM %
19.1% Other income
3.0 Net profit
24.0 PAT margin %
9.0% EPS (₹)
5.56
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹33.0 Cr: core business ₹31.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹13,964 Cr
P/E 7.1
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+7.1%
894 835 Operating profit
+22.5%
136 111 OPM %
+192 bps
15.2% 13.3% Other income
to loss -13.0 1,882 Net profit
-95.6%
74.0 1,683 PAT margin %
—
8.3% — EPS (₹)
-95.6%
16.27 369.50
Quality of profit
Pre-tax profit ₹101 Cr: core business ₹114 Cr, other income −₹13.0 Cr.
M Cap ₹13,917 Cr
P/E 149.7
PEG 4.83
Operating margin expanded 2796 bps YoY Exceptional items of ₹-8.5 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.4% -0.2%
1,114 1,117 903 Operating profit
from loss -2.6%
79.1 81.1 -188 OPM %
+2796 bps -17 bps
7.1% 7.3% -20.9% Other income
+123.2% -18.3%
23.7 29.0 10.6 Net profit?
loss narrowed to loss -2.7 8.8 -429 PAT margin %
+4724 bps -103 bps
-0.2% 0.8% -47.5% EPS (₹)
to loss to loss -0.09 0.28 144.64
Quality of profit
Pre-tax profit −₹4.5 Cr: core business −₹19.8 Cr, other income ₹23.7 Cr, exceptional & other items −₹8.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹256 Cr.
Borrowings ₹1,165 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹878 ₹1,114
+27.0% above
M Cap ₹13,845 Cr
P/E 9.6
PEG 1.06
Gross NPA down 41 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+9.5% +2.7%
1,665 1,621 1,520 Net interest income
+13.3% +8.2%
646 597 570 Other income
+3.7% -5.8%
196 208 189 Net profit
+14.0% +7.5%
342 318 300 EPS (₹)
+13.8% +7.6%
21.57 20.05 18.96 Gross NPA %
-41 bps -10 bps
0.9% 1.0% 1.3% Net NPA %
-21 bps -6 bps
0.2% 0.3% 0.4%
Against its own trend ?
Trend Actual Gap
NII ₹577 ₹646
+11.9% above Net profit ₹318 ₹342
+7.6% in line
M Cap ₹13,829 Cr
P/E 17.9
PEG 0.23
Profit +16% above its own trend Operating margin expanded 549 bps YoY Core business grew faster than reported profit (core profit +59%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+36.9% +6.1%
875 825 639 Operating profit
+79.7% +13.3%
202 178 112 OPM %
+549 bps +147 bps
23.0% 21.5% 17.5% Other income
-42.9% -63.9%
25.1 69.7 44.0 Net profit?
+28.5% -9.3%
190 210 148 PAT margin %
-142 bps -367 bps
21.7% 25.4% 23.1% EPS (₹)
-10.3% -13.3%
0.26 0.30 0.29
Quality of profit
Pre-tax profit ₹190 Cr: core business ₹166 Cr, other income ₹25.1 Cr, exceptional & other items −₹0.7 Cr.
Core profit YoY: +59.4%
· reported profit +28.5%
Cash & debt
FY25 cash from operations −₹633 Cr:
-110% of FY25 net profit of ₹578 Cr.
Borrowings ₹2,151 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,279 ₹875
-31.6% below Net profit ₹163 ₹190
+16.3% above
M Cap ₹13,725 Cr
P/E 22.5
PEG 0.75
Profit -10% below its own trend Operating margin expanded 1996 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.8% -18.7%
247 304 265 Operating profit
+25.7% +8.4%
191 176 152 OPM %
+1996 bps +1931 bps
77.3% 58.0% 57.4% Other income
-8.3% -11.8%
11.0 12.5 12.0 Net profit?
+18.4% +4.0%
135 130 114 PAT margin %
+1163 bps +1191 bps
54.6% 42.7% 43.0% EPS (₹)
+18.3% +3.7%
3.11 3.00 2.63
Quality of profit
Pre-tax profit ₹188 Cr: core business ₹177 Cr, other income ₹11.0 Cr.
Core profit YoY: +25.5%
· reported profit +18.4%
Cash & debt
Borrowings ₹143 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹299 ₹247
-17.3% below Net profit ₹151 ₹135
-10.3% below
M Cap ₹13,619 Cr
P/E —
PEG —
Profit -14% below its own trend Exceptional items of ₹-20.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.3% -0.9%
1,898 1,916 1,769 Operating profit
+3.9% +23.3%
195 158 188 OPM %
-34 bps +202 bps
10.3% 8.3% 10.6% Other income
+10.1% -4.6%
12.8 13.4 11.6 Net profit?
-9.8% +33.9%
101 75.4 112 PAT margin %
-101 bps +138 bps
5.3% 3.9% 6.3% EPS (₹)
-10.5% +37.8%
1.53 1.11 1.71
Quality of profit
Pre-tax profit ₹136 Cr: core business ₹143 Cr, other income ₹12.8 Cr, exceptional & other items −₹20.0 Cr.
Core profit YoY: +2.7%
· reported profit -9.8%
Cash & debt
FY25 cash from operations ₹737 Cr:
131% of FY25 net profit of ₹564 Cr.
Borrowings ₹479 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,818 ₹1,898
+4.4% in line Net profit ₹118 ₹101
-14.1% below
M Cap ₹13,607 Cr
P/E 36.1
PEG 1.81
Operating margin contracted 179 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.4% +8.6%
1,116 1,028 1,144 Operating profit
-14.5% +31.5%
142 108 166 OPM %
-179 bps +222 bps
12.7% 10.5% 14.5% Other income
-63.6% -77.8%
4.0 18.0 11.0 Net profit?
+5.9% +73.6%
125 72.0 118 PAT margin %
+89 bps +420 bps
11.2% 7.0% 10.3% EPS (₹)
+15.1% +78.6%
8.45 4.73 7.34
Quality of profit
Pre-tax profit ₹112 Cr: core business ₹108 Cr, other income ₹4.0 Cr.
Core profit YoY: -20.6%
· reported profit +5.9%
Cash & debt
FY25 cash from operations ₹386 Cr:
92% of FY25 net profit of ₹418 Cr.
Borrowings ₹182 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,166 ₹1,116
-4.3% in line Net profit ₹114 ₹125
+9.3% in line
M Cap ₹13,582 Cr
P/E 14.7
PEG —
Profit -50% below its own trend Operating margin contracted 145 bps YoY Exceptional items of ₹-47.6 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+4.2% -1.6%
3,410 3,467 3,272 Operating profit
-7.9% -0.1%
374 374 406 OPM %
-145 bps +16 bps
11.0% 10.8% 12.4% Other income
-77.5% +16.9%
32.8 28.1 146 Net profit?
-53.0% -49.3%
140 276 298 PAT margin %
-500 bps -387 bps
4.1% 8.0% 9.1% EPS (₹)
-53.0% -49.3%
7.66 15.11 16.30
Quality of profit
Pre-tax profit ₹192 Cr: core business ₹207 Cr, other income ₹32.8 Cr, exceptional & other items −₹47.6 Cr.
Core profit YoY: -21.3%
· reported profit -53.0%
Cash & debt
FY25 cash from operations ₹1,351 Cr:
143% of FY25 net profit of ₹945 Cr.
Borrowings ₹261 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,466 ₹3,410
-1.6% in line Net profit ₹279 ₹140
-49.8% below
M Cap ₹13,552 Cr
P/E 55.0
PEG 3.24
Operating margin expanded 308 bps YoY Core business grew faster than reported profit (core profit +35%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.0% +20.6%
784 650 726 Operating profit
+32.7% +52.9%
130 85.0 98.0 OPM %
+308 bps +350 bps
16.6% 13.1% 13.5% Other income
to loss to loss -5.0 22.0 14.0 Net profit?
+11.0% +19.1%
81.0 68.0 73.0 PAT margin %
+28 bps -13 bps
10.3% 10.5% 10.1% EPS (₹)
+10.7% +19.8%
4.65 3.88 4.20
Quality of profit
Pre-tax profit ₹108 Cr: core business ₹113 Cr, other income −₹5.0 Cr.
Core profit YoY: +34.5%
· reported profit +11.0%
Cash & debt
Borrowings ₹5.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹780 ₹784
+0.5% in line Net profit ₹82.2 ₹81.0
-1.5% in line
M Cap ₹13,494 Cr
P/E 16.7
PEG —
Profit +12% above its own trend Operating margin expanded 313 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-12.2% -12.9%
1,139 1,308 1,298 Operating profit
+3.9% -11.6%
230 260 221 OPM %
+313 bps +29 bps
20.2% 19.9% 17.0% Other income
+32.6% +17.2%
26.9 23.0 20.3 Net profit?
-1.1% -11.5%
143 162 145 PAT margin %
+141 bps +20 bps
12.6% 12.4% 11.2% EPS (₹)
-1.3% -3.3%
2.33 2.41 2.36
Quality of profit
Pre-tax profit ₹188 Cr: core business ₹173 Cr, other income ₹26.9 Cr, exceptional & other items −₹11.9 Cr.
Core profit YoY: +0.6%
· reported profit -1.1%
Cash & debt
FY25 cash from operations ₹895 Cr:
110% of FY25 net profit of ₹813 Cr.
Borrowings ₹309 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,283 ₹1,139
-11.2% below Net profit ₹128 ₹143
+12.0% above
M Cap ₹13,437 Cr
P/E 84.3
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+22.0%
198 162 Operating profit
+6.2%
56.4 53.1 OPM %
-426 bps
28.5% 32.7% Other income
+125.0%
8.7 3.9 Net profit?
-24.0%
32.5 42.7 PAT margin %
-992 bps
16.4% 26.3% EPS (₹)
-28.4%
1.99 2.78
Quality of profit
Pre-tax profit ₹54.4 Cr: core business ₹45.7 Cr, other income ₹8.7 Cr.
M Cap ₹13,420 Cr
P/E —
PEG —
Into loss: a profit a year ago Profit -213% below its own trend Exceptional items of ₹-169 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+83.2% +56.5%
623 398 340 Operating profit
+83.3% +82.7%
110 60.2 60.0 OPM %
+1 bps +253 bps
17.7% 15.1% 17.6% Other income
+216.7% +488.9%
12.7 2.2 4.0 Net profit?
to loss to loss -105 52.7 54.0 PAT margin %
-3280 bps -3016 bps
-16.9% 13.2% 15.9% EPS (₹)
to loss to loss -4.67 2.71 2.79
Quality of profit
Pre-tax profit −₹106 Cr: core business ₹51.2 Cr, other income ₹12.7 Cr, exceptional & other items −₹169 Cr.
Core profit YoY: +2.4%
Cash & debt
FY25 cash from operations ₹178 Cr:
78% of FY25 net profit of ₹229 Cr.
Borrowings ₹44.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹265 ₹623
+135.0% above Net profit ₹93.1 −₹105
-213.3% below
M Cap ₹13,312 Cr
P/E 22.6
PEG 0.43
Profit +88% above its own trend Operating margin expanded 321 bps YoY Core business grew faster than reported profit (core profit +116%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.0% +10.2%
4,157 3,773 3,300 Operating profit
+65.1% +11.9%
563 503 341 OPM %
+321 bps +21 bps
13.5% 13.3% 10.3% Other income
to loss to loss -52.0 4.0 3.0 Net profit?
+59.8% -16.7%
155 186 97.0 PAT margin %
+79 bps -120 bps
3.7% 4.9% 2.9% EPS (₹)
+60.4% -16.2%
38.51 45.97 24.01
Quality of profit
Pre-tax profit ₹218 Cr: core business ₹270 Cr, other income −₹52.0 Cr.
Core profit YoY: +116.0%
· reported profit +59.8%
Cash & debt
FY25 cash from operations ₹1,092 Cr:
232% of FY25 net profit of ₹471 Cr.
Borrowings ₹2,136 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,721 ₹4,157
+11.7% above Net profit ₹82.3 ₹155
+88.2% above
M Cap ₹13,263 Cr
P/E 59.0
PEG —
Profit -43% below its own trend Operating margin contracted 692 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+31.4% -29.9%
512 731 390 Operating profit
+2.8% -6.1%
127 136 124 OPM %
-692 bps +631 bps
24.9% 18.6% 31.8% Other income
from loss -73.0%
2.1 7.8 -4.0 Net profit?
+12.2% +6.0%
60.6 57.2 54.0 PAT margin %
-202 bps +401 bps
11.8% 7.8% 13.8% EPS (₹)
+68.4% +9.7%
4.31 3.93 2.56
Quality of profit
Pre-tax profit ₹60.0 Cr: core business ₹57.8 Cr, other income ₹2.1 Cr.
Core profit YoY: -8.2%
· reported profit +12.2%
Cash & debt
FY25 cash from operations −₹30.0 Cr:
-19% of FY25 net profit of ₹160 Cr.
Borrowings ₹1,373 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹630 ₹512
-18.7% below Net profit ₹106 ₹60.6
-43.1% below
M Cap ₹13,238 Cr
P/E 38.7
PEG 0.27
Profit -12% below its own trend Operating margin expanded 205 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.2% -11.0%
605 679 491 Operating profit
+34.1% -16.8%
151 182 113 OPM %
+205 bps -177 bps
25.0% 26.8% 23.0% Other income
+197.5% +966.4%
6.5 0.6 2.2 Net profit?
+68.3% -16.8%
74.9 90.0 44.5 PAT margin %
+332 bps -87 bps
12.4% 13.3% 9.1% EPS (₹)
+75.5% -16.9%
19.97 24.02 11.38
Quality of profit
Pre-tax profit ₹104 Cr: core business ₹97.3 Cr, other income ₹6.5 Cr.
Core profit YoY: +65.6%
· reported profit +68.3%
Cash & debt
FY25 cash from operations ₹281 Cr:
152% of FY25 net profit of ₹185 Cr.
Borrowings ₹1,143 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹610 ₹605
-0.8% in line Net profit ₹85.2 ₹74.9
-12.1% below
M Cap ₹13,211 Cr
P/E 29.8
PEG 0.76
Operating margin expanded 238 bps YoY Exceptional items of ₹-44.6 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.5% +3.1%
1,880 1,823 1,717 Operating profit
+17.9% +1.7%
622 612 528 OPM %
+238 bps -45 bps
33.1% 33.6% 30.7% Other income
-4.8% +10.9%
39.8 35.9 41.8 Net profit?
+168.7% -9.6%
95.4 106 35.5 PAT margin %
+301 bps -71 bps
5.1% 5.8% 2.1% EPS (₹)
+166.4% -9.6%
9.75 10.78 3.66
Quality of profit
Pre-tax profit ₹119 Cr: core business ₹124 Cr, other income ₹39.8 Cr, exceptional & other items −₹44.7 Cr.
Core profit YoY: —
· reported profit +168.7%
Cash & debt
FY25 cash from operations ₹1,967 Cr.
Borrowings ₹7,775 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,919 ₹1,880
-2.0% in line
M Cap ₹13,150 Cr
P/E 53.5
PEG 2.23
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+20.4% +7.2%
343 320 285 Operating profit
+18.2% +8.3%
78.0 72.0 66.0 OPM %
-42 bps +24 bps
22.7% 22.5% 23.2% Other income
+42.9% +25.0%
10.0 8.0 7.0 Net profit?
+20.8% +7.4%
58.0 54.0 48.0 PAT margin %
+7 bps +3 bps
16.9% 16.9% 16.8% EPS (₹)
+19.6% +7.7%
13.92 12.93 11.64
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹68.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +17.2%
· reported profit +20.8%
Cash & debt
FY25 cash from operations ₹161 Cr:
82% of FY25 net profit of ₹196 Cr.
Borrowings ₹31.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹336 ₹343
+2.0% in line Net profit ₹56.1 ₹58.0
+3.4% in line
M Cap ₹13,094 Cr
P/E 9.7
PEG 0.60
Profit +755% above its own trend Operating margin expanded 1491 bps YoY Core business grew faster than reported profit (core profit +836%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.5% +20.4%
1,612 1,339 1,316 Operating profit
+89.8% +67.0%
678 406 357 OPM %
+1491 bps +1176 bps
42.1% 30.3% 27.2% Other income
+50.8% -38.3%
68.5 111 45.4 Net profit?
+436.2% +114.3%
405 189 75.5 PAT margin %
+1939 bps +1101 bps
25.1% 14.1% 5.7% EPS (₹)
+436.4% +114.0%
8.69 4.06 1.62
Quality of profit
Pre-tax profit ₹427 Cr: core business ₹358 Cr, other income ₹68.5 Cr.
Core profit YoY: +836.0%
· reported profit +436.2%
Cash & debt
FY25 cash from operations ₹850 Cr:
101% of FY25 net profit of ₹842 Cr.
Borrowings ₹2,228 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,224 ₹1,612
+31.6% above Net profit ₹47.3 ₹405
+755.4% above
M Cap ₹12,981 Cr
P/E 48.5
PEG 3.73
Profit -10% below its own trend Operating margin contracted 165 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.1% +41.3%
455 322 382 Operating profit
+11.8% +50.0%
114 76.0 102 OPM %
-165 bps +145 bps
25.1% 23.6% 26.7% Other income
to loss to loss -15.0 9.0 8.0 Net profit
-7.7% +20.0%
72.0 60.0 78.0 PAT margin %
-459 bps -281 bps
15.8% 18.6% 20.4% EPS (₹)
-7.4% +19.1%
22.77 19.12 24.60
Quality of profit
Pre-tax profit ₹95.0 Cr: core business ₹110 Cr, other income −₹15.0 Cr.
Core profit YoY: +12.2%
· reported profit -7.7%
Cash & debt
FY25 cash from operations ₹265 Cr:
99% of FY25 net profit of ₹268 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹397 ₹455
+14.7% above Net profit ₹80.4 ₹72.0
-10.5% below
M Cap ₹12,970 Cr
P/E 22.1
PEG —
Profit +176% above its own trend Profit grew faster than the core business (core profit +210%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+28.5% +40.3%
686 489 534 Operating profit
+26.9% +63.7%
311 190 245 OPM %
-55 bps +648 bps
45.3% 38.9% 45.9% Other income
+5.0% -47.7%
34.0 65.0 32.4 Net profit?
+303.3% +118.8%
140 64.0 34.7 PAT margin %
+1391 bps +732 bps
20.4% 13.1% 6.5% EPS (₹)
+370.8% +121.8%
4.99 2.25 1.06
Quality of profit
Pre-tax profit ₹200 Cr: core business ₹167 Cr, other income ₹34.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +210.2%
· reported profit +303.3%
Cash & debt
FY25 cash from operations ₹677 Cr:
411% of FY25 net profit of ₹165 Cr.
Borrowings ₹2,744 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,068 ₹686
-35.8% below Net profit ₹50.7 ₹140
+175.9% above
M Cap ₹12,951 Cr
P/E 9.0
PEG 2.25
Profit +15% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
-0.5% +0.0%
2,522 2,522 2,535 Net interest income
-0.1% +8.8%
792 728 793 Other income
+3.4% -12.0%
302 343 292 Net profit
+2.5% -8.8%
291 319 284 EPS (₹)
+2.5% -8.9%
7.69 8.44 7.50 Gross NPA %
+21 bps -1 bps
3.3% 3.3% 3.1% Net NPA %
-8 bps -4 bps
1.3% 1.4% 1.4%
Against its own trend ?
Trend Actual Gap
NII ₹717 ₹792
+10.4% above Net profit ₹252 ₹291
+15.3% above
M Cap ₹12,940 Cr
P/E 120.5
PEG —
Profit -88% below its own trend Operating margin contracted 682 bps YoY FY25 operating cash flow was only 6% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.3% +21.1%
1,099 908 1,074 Operating profit
-30.0% +32.2%
162 123 232 OPM %
-682 bps +124 bps
14.7% 13.5% 21.6% Other income
to loss to loss -9.0 5.8 3.6 Net profit?
-85.9% from loss 14.0 -9.5 99.6 PAT margin %
-800 bps +232 bps
1.3% -1.0% 9.3% EPS (₹)
-35.3% from loss 0.75 -0.52 1.16
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹27.0 Cr, other income −₹9.0 Cr.
Core profit YoY: -78.5%
· reported profit -85.9%
Cash & debt
FY25 cash from operations ₹33.0 Cr:
6% of FY25 net profit of ₹570 Cr.
Borrowings ₹2,126 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,039 ₹1,099
+5.7% above Net profit ₹114 ₹14.0
-87.7% below
M Cap ₹12,911 Cr
P/E 97.7
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+79.0%
4,202 2,348 Operating profit
to loss -70.0 16.0 OPM %
-235 bps
-1.7% 0.7% Other income
+236.7%
101 30.0 Net profit
-31.7%
28.0 41.0 PAT margin %
-108 bps
0.7% 1.7% EPS (₹)
-32.6%
0.29 0.43
Quality of profit
Pre-tax profit ₹31.0 Cr: core business −₹70.0 Cr, other income ₹101 Cr.
M Cap ₹12,870 Cr
P/E 8.5
PEG 0.37
Gross NPA down 163 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+8.1% +2.8%
3,004 2,923 2,780 Net interest income
+1.3% +8.9%
881 809 870 Other income
+18.8% -5.8%
486 516 409 Net profit
+9.4% +6.6%
374 351 342 EPS (₹)
+9.2% +6.7%
1.43 1.34 1.31 Gross NPA %
-163 bps -26 bps
2.7% 2.9% 4.3% Net NPA %
-80 bps -11 bps
0.5% 0.6% 1.2%
Against its own trend ?
Trend Actual Gap
NII ₹850 ₹881
+3.7% in line Net profit ₹379 ₹374
-1.3% in line
M Cap ₹12,817 Cr
P/E 52.6
PEG 2.39
Operating margin contracted 130 bps YoY 27% of pre-tax profit came from other income and one-off items Exceptional items of ₹-9.6 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.6% +18.0%
1,614 1,368 1,396 Operating profit
+3.1% +11.1%
173 156 168 OPM %
-130 bps -67 bps
10.7% 11.4% 12.0% Other income
+65.4% -23.2%
29.8 38.8 18.0 Net profit?
+7.1% +8.6%
60.0 55.2 56.0 PAT margin %
-29 bps -32 bps
3.7% 4.0% 4.0% EPS (₹)
+4.5% +4.5%
2.33 2.23 2.23
Quality of profit
Pre-tax profit ₹77.5 Cr: core business ₹56.9 Cr, other income ₹29.8 Cr, exceptional & other items −₹9.2 Cr.
Core profit YoY: +2.5%
· reported profit +7.1%
Cash & debt
FY25 cash from operations ₹394 Cr:
184% of FY25 net profit of ₹215 Cr.
Borrowings ₹2,630 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,508 ₹1,614
+7.1% above Net profit ₹62.4 ₹60.0
-3.8% in line
M Cap ₹12,743 Cr
P/E 14.1
PEG —
Profit +241% above its own trend Gross NPA down 30 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+16.1% +5.6%
2,047 1,938 1,763 Net interest income
+12.9% +8.7%
1,001 921 887 Other income
+71.5% +15.2%
295 256 172 Net profit
+70.6% +52.5%
186 122 109 EPS (₹)
+71.4% +52.4%
0.96 0.63 0.56 Gross NPA %
-30 bps -7 bps
2.4% 2.5% 2.7% Net NPA %
+1 bps -10 bps
0.6% 0.7% 0.6%
Against its own trend ?
Trend Actual Gap
NII ₹843 ₹1,001
+18.7% above Net profit ₹54.5 ₹186
+241.3% above
M Cap ₹12,716 Cr
P/E 17.9
PEG 0.85
Profit +56% above its own trend Operating margin contracted 1123 bps YoY 28% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +589%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+131.8% +136.4%
4,400 1,861 1,898 Operating profit
+64.1% +97.7%
1,198 606 730 OPM %
-1123 bps -534 bps
27.2% 32.6% 38.5% Other income
+123.2% +466.7%
221 39.0 99.0 Net profit?
+74.2% +54.3%
270 175 155 PAT margin %
-203 bps -327 bps
6.1% 9.4% 8.2% EPS (₹)
+111.4% +105.1%
2.79 1.36 1.32
Quality of profit
Pre-tax profit ₹792 Cr: core business ₹572 Cr, other income ₹221 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +589.2%
· reported profit +74.2%
Cash & debt
FY25 cash from operations ₹2,052 Cr:
384% of FY25 net profit of ₹535 Cr.
Borrowings ₹18,004 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,491 ₹4,400
+195.2% above Net profit ₹173 ₹270
+56.1% above
M Cap ₹12,692 Cr
P/E 34.8
PEG 1.66
Exceptional items of ₹-22.1 Cr in the quarter Core business grew faster than reported profit (core profit +28%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.6% +4.7%
1,404 1,341 1,269 Operating profit
+18.3% +12.7%
123 109 104 OPM %
+57 bps +63 bps
8.8% 8.1% 8.2% Other income
+5.5% +16.7%
5.7 4.9 5.4 Net profit?
-5.2% -12.6%
57.1 65.3 60.2 PAT margin %
-68 bps -80 bps
4.1% 4.9% 4.7% EPS (₹)
-5.8% -12.8%
1.30 1.49 1.38
Quality of profit
Pre-tax profit ₹77.3 Cr: core business ₹93.7 Cr, other income ₹5.7 Cr, exceptional & other items −₹22.1 Cr.
Core profit YoY: +27.8%
· reported profit -5.2%
Cash & debt
FY25 cash from operations ₹477 Cr:
152% of FY25 net profit of ₹314 Cr.
Borrowings ₹134 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,348 ₹1,404
+4.1% in line Net profit ₹62.1 ₹57.1
-8.2% in line
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, 19:24 IST
