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
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
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 18 of 144
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M Cap ₹12,674 Cr
P/E 52.9
PEG 1.56
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.2% +4.3%
592 568 501 Operating profit
+17.5% +3.9%
103 99.5 88.0 OPM %
-10 bps -6 bps
17.5% 17.5% 17.6% Other income
-41.5% -45.4%
3.5 6.4 6.0 Net profit?
+13.7% +0.9%
61.4 60.9 54.0 PAT margin %
-41 bps -35 bps
10.4% 10.7% 10.8% EPS (₹)
+14.1% -0.6%
9.54 9.60 8.36
Quality of profit
Pre-tax profit ₹82.2 Cr: core business ₹78.7 Cr, other income ₹3.5 Cr.
Core profit YoY: +19.2%
· reported profit +13.7%
Cash & debt
FY25 cash from operations ₹183 Cr:
86% of FY25 net profit of ₹213 Cr.
Borrowings ₹212 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹632 ₹592
-6.3% below Net profit ₹59.8 ₹61.4
+2.7% in line
M Cap ₹12,672 Cr
P/E 54.9
PEG 2.39
Profit -66% below its own trend Operating margin contracted 134 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
-23.0% -33.0%
943 1,408 1,224 Operating profit
-41.8% -66.8%
39.0 118 67.0 OPM %
-134 bps -422 bps
4.1% 8.4% 5.5% Other income
+21.2% +194.1%
40.0 13.6 33.0 Net profit?
-31.8% -79.5%
15.0 73.0 22.0 PAT margin %
-21 bps -360 bps
1.6% 5.2% 1.8% EPS (₹)
-29.1% -78.8%
1.44 6.78 2.03
Quality of profit
Pre-tax profit ₹21.0 Cr: core business −₹19.0 Cr, other income ₹40.0 Cr.
Core profit YoY: loss widened
· reported profit -31.8%
Cash & debt
FY25 cash from operations ₹200 Cr:
211% of FY25 net profit of ₹95.0 Cr.
Borrowings ₹1,183 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,918 ₹943
-50.8% below Net profit ₹44.0 ₹15.0
-65.9% below
M Cap ₹12,640 Cr
P/E 51.3
PEG —
Operating margin expanded 222 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+73.5% +12.3%
363 323 209 Operating profit
+88.4% +16.0%
102 87.9 54.1 OPM %
+222 bps +91 bps
28.1% 27.2% 25.9% Other income
+207.0% —
12.0 0.1 3.9 Net profit?
+136.3% +35.2%
72.0 53.2 30.5 PAT margin %
+527 bps +337 bps
19.8% 16.5% 14.6% EPS (₹)
+136.8% +35.8%
12.10 8.91 5.11
Quality of profit
Pre-tax profit ₹96.0 Cr: core business ₹85.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +128.4%
· reported profit +136.3%
Cash & debt
FY25 cash from operations −₹57.0 Cr.
Borrowings ₹482 Cr at Mar 2025.
M Cap ₹12,579 Cr
P/E 10.2
PEG —
Profit -47% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.3% -11.3%
10,312 11,624 8,720 Operating profit
+20.3% -30.3%
835 1,198 694 OPM %
+14 bps -221 bps
8.1% 10.3% 8.0% Other income
-48.7% -60.3%
60.0 151 117 Net profit?
+5.0% -43.0%
437 766 416 PAT margin %
-53 bps -235 bps
4.2% 6.6% 4.8% EPS (₹)
+19.0% -45.3%
13.05 23.86 10.97
Quality of profit
Pre-tax profit ₹588 Cr: core business ₹528 Cr, other income ₹60.0 Cr.
Core profit YoY: +13.5%
· reported profit +5.0%
Cash & debt
FY25 cash from operations ₹1,936 Cr:
145% of FY25 net profit of ₹1,333 Cr.
Borrowings ₹2,704 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10,776 ₹10,312
-4.3% in line Net profit ₹832 ₹437
-47.5% below
M Cap ₹12,563 Cr
P/E —
PEG —
Profit +343% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+11.8% -70.5%
32.7 111 29.2 Operating profit (pre-provision)
+12.0% —
29.1 — 25.9 Net profit?
+131.3% -52.1%
32.1 67.0 13.9 EPS (₹)
+131.3% -52.2%
28.94 60.52 12.51
Where profit came from
Pre-provision profit ₹29.1 Cr (+12.0% YoY).
Net profit +131.3% YoY.
Against its own trend ?
Trend Actual Gap
Total income ₹31.8 ₹32.7
+2.8% in line Net profit ₹7.2 ₹32.1
+343.4% above
M Cap ₹12,552 Cr
P/E 63.0
PEG 1.97
Exceptional items of ₹-105 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.2% +3.6%
2,288 2,207 2,075 Operating profit
+12.9% +3.4%
210 203 186 OPM %
+21 bps -2 bps
9.2% 9.2% 9.0% Other income
from loss +43.2%
4.3 3.0 -88.0 Net profit?
loss narrowed to loss -11.3 63.0 -45.0 PAT margin %
+167 bps -335 bps
-0.5% 2.9% -2.2% EPS (₹)
loss narrowed to loss -0.67 3.99 -3.10
Quality of profit
Pre-tax profit −₹3.3 Cr: core business ₹96.4 Cr, other income ₹4.3 Cr, exceptional & other items −₹104 Cr.
Core profit YoY: +53.0%
Cash & debt
FY25 cash from operations ₹737 Cr:
1379% of FY25 net profit of ₹53.5 Cr.
Borrowings ₹1,118 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,245 ₹2,288
+1.9% in line
M Cap ₹12,435 Cr
P/E 51.6
PEG 1.17
Profit -51% below its own trend Operating margin contracted 118 bps YoY Exceptional items of ₹9.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.2% +4.4%
455 436 382 Operating profit
+5.1% +37.5%
39.9 29.0 38.0 OPM %
-118 bps +211 bps
8.8% 6.7% 9.9% Other income
-0.9% -51.0%
7.9 16.2 8.0 Net profit
-50.5% -42.2%
10.9 18.8 22.0 PAT margin %
-337 bps -193 bps
2.4% 4.3% 5.8% EPS (₹)
-50.8% -42.0%
1.60 2.76 3.25
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹15.1 Cr, other income ₹7.9 Cr, exceptional & other items −₹9.0 Cr.
Core profit YoY: -28.2%
· reported profit -50.5%
Cash & debt
FY25 cash from operations ₹111 Cr:
150% of FY25 net profit of ₹74.2 Cr.
Borrowings ₹407 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹416 ₹455
+9.4% above Net profit ₹22.1 ₹10.9
-50.8% below
M Cap ₹12,378 Cr
P/E 62.4
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-5.3%
342 361 Operating profit
+6.4%
83.0 78.0 OPM %
+266 bps
24.3% 21.6% Other income
to loss -17.0 2.0 Net profit
-21.2%
41.0 52.0 PAT margin %
-242 bps
12.0% 14.4% EPS (₹)
-21.0%
6.74 8.53
Quality of profit
Pre-tax profit ₹55.0 Cr: core business ₹72.0 Cr, other income −₹17.0 Cr.
M Cap ₹12,378 Cr
P/E —
PEG —
₹ Cr
Dec 2025
Sales
861 Operating profit
107 OPM %
12.4% Other income
-166 Net profit
-50.0 PAT margin %
-5.8% EPS (₹)
-10.13
First results we hold for this company (a recent listing or a first filing), so there is no earlier quarter to compare with.
Quality of profit
Pre-tax profit −₹67.0 Cr: core business ₹99.0 Cr, other income −₹166 Cr.
M Cap ₹12,348 Cr
P/E 38.4
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+7.0%
854 798 Operating profit
+46.7%
110 75.0 OPM %
+348 bps
12.9% 9.4% Other income
-87.5%
2.0 16.0 Net profit?
+203.0%
100 33.0 PAT margin %
+757 bps
11.7% 4.1% EPS (₹)
+197.6%
7.44 2.50
Quality of profit
Pre-tax profit ₹65.0 Cr: core business ₹63.0 Cr, other income ₹2.0 Cr.
M Cap ₹12,342 Cr
P/E 42.6
PEG 4.26
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.9% +0.1%
445 445 398 Operating profit
+9.4% -1.3%
147 149 134 OPM %
-76 bps -47 bps
33.0% 33.5% 33.8% Other income
-20.8% +28.3%
10.5 8.2 13.3 Net profit?
+7.2% -2.3%
73.9 75.6 68.9 PAT margin %
-73 bps -41 bps
16.6% 17.0% 17.3% EPS (₹)
+5.6% -3.6%
7.14 7.41 6.76
Quality of profit
Pre-tax profit ₹97.7 Cr: core business ₹87.2 Cr, other income ₹10.5 Cr.
Core profit YoY: +7.6%
· reported profit +7.2%
Cash & debt
FY25 cash from operations ₹396 Cr:
162% of FY25 net profit of ₹244 Cr.
Borrowings ₹764 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹429 ₹445
+3.9% in line Net profit ₹76.2 ₹73.9
-3.0% in line
M Cap ₹12,316 Cr
P/E 33.3
PEG 0.36
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.5% +15.2%
961 834 811 Operating profit
+21.0% +36.1%
122 89.3 100 OPM %
+26 bps +194 bps
12.6% 10.7% 12.4% Other income
+62.2% -42.3%
24.0 41.6 14.8 Net profit?
+30.1% +7.7%
91.3 84.8 70.2 PAT margin %
+84 bps -66 bps
9.5% 10.2% 8.7% EPS (₹)
+30.5% +8.1%
14.73 13.63 11.29
Quality of profit
Pre-tax profit ₹121 Cr: core business ₹102 Cr, other income ₹24.0 Cr, exceptional & other items −₹4.7 Cr.
Core profit YoY: +29.4%
· reported profit +30.1%
Cash & debt
FY25 cash from operations ₹355 Cr:
120% of FY25 net profit of ₹295 Cr.
Borrowings ₹362 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹958 ₹961
+0.3% in line Net profit ₹84.5 ₹91.3
+8.1% in line
M Cap ₹12,307 Cr
P/E —
PEG —
Operating margin contracted 305 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.7% +87.1%
492 263 511 Operating profit
-9.9% +96.4%
218 111 242 OPM %
-305 bps +210 bps
44.3% 42.2% 47.4% Other income
-4.5% +5.0%
21.0 20.0 22.0 Net profit
-14.6% +141.1%
135 56.0 158 PAT margin %
-348 bps +615 bps
27.4% 21.3% 30.9% EPS (₹)
-14.6% +140.3%
5.55 2.31 6.50
Quality of profit
Pre-tax profit ₹181 Cr: core business ₹160 Cr, other income ₹21.0 Cr.
Core profit YoY: -15.3%
· reported profit -14.6%
Cash & debt
FY25 cash from operations ₹389 Cr:
100% of FY25 net profit of ₹387 Cr.
Borrowings ₹483 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹534 ₹492
-7.8% below Net profit ₹148 ₹135
-8.7% in line
M Cap ₹12,284 Cr
P/E 41.3
PEG —
Profit -46% below its own trend Operating margin contracted 390 bps YoY Exceptional items of ₹12.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-36.6% -13.8%
1,274 1,478 2,010 Operating profit
-52.3% -15.6%
151 180 317 OPM %
-390 bps -26 bps
11.9% 12.1% 15.8% Other income
+63.5% +182.0%
18.1 6.4 11.1 Net profit?
-61.3% -39.5%
36.1 59.6 93.1 PAT margin %
-180 bps -120 bps
2.8% 4.0% 4.6% EPS (₹)
-62.3% -41.1%
0.93 1.58 2.47
Quality of profit
Pre-tax profit ₹50.7 Cr: core business ₹45.0 Cr, other income ₹18.1 Cr, exceptional & other items −₹12.5 Cr.
Core profit YoY: -60.1%
· reported profit -61.3%
Cash & debt
FY25 cash from operations ₹760 Cr:
173% of FY25 net profit of ₹438 Cr.
Borrowings ₹5,571 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,306 ₹1,274
-44.8% below Net profit ₹66.9 ₹36.1
-46.1% below
M Cap ₹12,235 Cr
P/E 29.5
PEG —
Profit -15% below its own trend Operating margin contracted 165 bps YoY Exceptional items of ₹-42.3 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-4.0% +3.8%
1,848 1,781 1,926 Operating profit
-15.0% +8.4%
237 219 279 OPM %
-165 bps +55 bps
12.8% 12.3% 14.5% Other income
from loss -38.2%
30.9 50.0 -16.6 Net profit?
-23.9% -32.0%
97.2 143 128 PAT margin %
-137 bps -277 bps
5.3% 8.0% 6.6% EPS (₹)
-25.1% -28.0%
8.32 11.55 11.11
Quality of profit
Pre-tax profit ₹139 Cr: core business ₹153 Cr, other income ₹30.9 Cr, exceptional & other items −₹44.6 Cr.
Core profit YoY: -19.9%
· reported profit -23.9%
Cash & debt
FY25 cash from operations ₹790 Cr:
122% of FY25 net profit of ₹649 Cr.
Borrowings ₹513 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,972 ₹1,848
-6.3% below Net profit ₹114 ₹97.2
-14.5% below
M Cap ₹12,232 Cr
P/E 120.0
PEG —
31% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+7.7%
404 375 Operating profit
from loss 31.0 -3.0 OPM %
+847 bps
7.7% -0.8% Other income
-26.7%
11.0 15.0 Net profit?
+933.3%
31.0 3.0 PAT margin %
+687 bps
7.7% 0.8% EPS (₹)
+119.2%
1.60 0.73
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹24.0 Cr, other income ₹11.0 Cr.
M Cap ₹12,194 Cr
P/E 28.8
PEG 1.11
Exceptional items of ₹-30.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.0% +5.9%
2,718 2,567 2,450 Operating profit
+9.8% +13.4%
242 213 220 OPM %
-10 bps +59 bps
8.9% 8.3% 9.0% Other income
-18.2% +1.9%
18.3 18.0 22.4 Net profit?
-0.1% +30.6%
110 84.0 110 PAT margin %
-45 bps +76 bps
4.0% 3.3% 4.5% EPS (₹)
+2.9% +24.1%
5.97 4.81 5.80
Quality of profit
Pre-tax profit ₹146 Cr: core business ₹151 Cr, other income ₹18.3 Cr, exceptional & other items −₹22.9 Cr.
Core profit YoY: +17.2%
· reported profit -0.1%
Cash & debt
FY25 cash from operations ₹969 Cr:
240% of FY25 net profit of ₹403 Cr.
Borrowings ₹1,396 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,563 ₹2,718
+6.0% above Net profit ₹118 ₹110
-6.7% in line
M Cap ₹12,087 Cr
P/E 28.9
PEG 0.76
Profit -42% below its own trend Core business grew faster than reported profit (core profit +46%) FY25 operating cash flow was only 32% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+32.5% +7.9%
1,207 1,119 911 Operating profit
+38.2% +23.7%
282 228 204 OPM %
+97 bps +299 bps
23.4% 20.4% 22.4% Other income
-54.4% -27.9%
31.0 43.0 68.0 Net profit?
+15.5% +5.0%
127 121 110 PAT margin %
-155 bps -29 bps
10.5% 10.8% 12.1% EPS (₹)
-19.0% +28.3%
0.68 0.53 0.84
Quality of profit
Pre-tax profit ₹209 Cr: core business ₹179 Cr, other income ₹31.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +45.5%
· reported profit +15.5%
Cash & debt
FY25 cash from operations ₹138 Cr:
32% of FY25 net profit of ₹426 Cr.
Borrowings ₹1,500 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,520 ₹1,207
-20.6% below Net profit ₹220 ₹127
-42.3% below
M Cap ₹11,899 Cr
P/E 37.6
PEG 1.10
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.5% +2.9%
1,084 1,054 915 Operating profit
+27.3% +2.8%
141 137 111 OPM %
+90 bps -1 bps
13.0% 13.0% 12.1% Other income
+12.3% -3.9%
4.7 4.8 4.2 Net profit?
+21.3% +0.2%
79.9 79.8 65.9 PAT margin %
+17 bps -20 bps
7.4% 7.6% 7.2% EPS (₹)
+21.3% +0.0%
4.05 4.05 3.34
Quality of profit
Pre-tax profit ₹105 Cr: core business ₹100 Cr, other income ₹4.7 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: +24.1%
· reported profit +21.3%
Cash & debt
FY25 cash from operations ₹360 Cr:
145% of FY25 net profit of ₹248 Cr.
Borrowings ₹412 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹992 ₹1,084
+9.3% above Net profit ₹78.6 ₹79.9
+1.7% in line
M Cap ₹11,894 Cr
P/E 39.2
PEG 1.51
Profit -18% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.4% -10.9%
1,170 1,313 1,023 Operating profit
+5.0% -20.7%
96.0 121 91.3 OPM %
-73 bps -102 bps
8.2% 9.2% 8.9% Other income
+26.5% -7.9%
7.5 8.1 5.9 Net profit?
+6.8% -28.4%
51.5 72.0 48.2 PAT margin %
-32 bps -108 bps
4.4% 5.5% 4.7% EPS (₹)
— -27.5%
11.57 15.95 12.52
No EPS growth against Dec 2024: 1:1 bonus in Sep 2026.
Quality of profit
Pre-tax profit ₹58.6 Cr: core business ₹51.5 Cr, other income ₹7.5 Cr.
Core profit YoY: +7.7%
· reported profit +6.8%
Cash & debt
FY25 cash from operations ₹176 Cr:
76% of FY25 net profit of ₹231 Cr.
Borrowings ₹773 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,313 ₹1,170
-10.8% below Net profit ₹63.2 ₹51.5
-18.5% below
M Cap ₹11,856 Cr
P/E 46.5
PEG 1.94
Profit +177% above its own trend Operating margin expanded 465 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.5% -4.9%
790 830 715 Operating profit
+76.7% -23.6%
98.0 128 55.5 OPM %
+465 bps -304 bps
12.4% 15.4% 7.8% Other income
+39.2% -10.6%
11.0 12.3 7.9 Net profit?
+123.2% -20.2%
62.0 77.7 27.8 PAT margin %
+396 bps -151 bps
7.8% 9.4% 3.9% EPS (₹)
+117.5% -22.0%
2.48 3.18 1.14
Quality of profit
Pre-tax profit ₹82.0 Cr: core business ₹70.0 Cr, other income ₹11.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +128.6%
· reported profit +123.2%
Cash & debt
FY25 cash from operations ₹193 Cr:
99% of FY25 net profit of ₹194 Cr.
Borrowings ₹231 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹817 ₹790
-3.3% in line Net profit ₹22.4 ₹62.0
+176.7% above
M Cap ₹11,791 Cr
P/E —
PEG —
Operating margin contracted 365 bps YoY Exceptional items of ₹-53.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-12.4% +756.7%
838 97.8 957 Operating profit
to loss loss narrowed -19.4 -70.1 12.8 OPM %
-365 bps +6933 bps
-2.3% -71.6% 1.3% Other income
+98.3% -40.5%
9.2 15.4 4.6 Net profit?
loss widened loss widened -75.3 -17.8 -42.4 PAT margin %
-456 bps +923 bps
-9.0% -18.2% -4.4% EPS (₹)
loss widened loss widened -6.59 -1.43 -3.64
Quality of profit
Pre-tax profit −₹101 Cr: core business −₹56.2 Cr, other income ₹9.2 Cr, exceptional & other items −₹53.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹1,293 Cr.
Borrowings ₹4,997 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹478 ₹838
+75.2% above
M Cap ₹11,780 Cr
P/E 26.3
PEG 13.13
Profit -10% below its own trend Operating margin expanded 221 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.7% -3.5%
531 550 522 Operating profit
+10.0% -6.4%
157 167 142 OPM %
+221 bps -92 bps
29.5% 30.4% 27.3% Other income
+32.8% -44.7%
8.9 16.0 6.7 Net profit?
+7.6% -12.2%
101 115 93.7 PAT margin %
+104 bps -188 bps
19.0% 20.9% 18.0% EPS (₹)
+7.6% -12.2%
9.73 11.08 9.04
Quality of profit
Pre-tax profit ₹136 Cr: core business ₹127 Cr, other income ₹8.9 Cr.
Core profit YoY: +6.1%
· reported profit +7.6%
Cash & debt
FY25 cash from operations ₹458 Cr:
113% of FY25 net profit of ₹405 Cr.
Borrowings ₹63.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹573 ₹531
-7.4% below Net profit ₹112 ₹101
-10.3% below
M Cap ₹11,778 Cr
P/E 40.2
PEG 1.39
Profit +60% above its own trend Exceptional items of ₹18.2 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.8% +14.0%
1,160 1,018 1,010 Operating profit
+21.0% +55.4%
147 94.5 121 OPM %
+65 bps +338 bps
12.7% 9.3% 12.0% Other income
+135.8% +6.1%
34.3 32.4 14.6 Net profit?
+2.1% +58.5%
67.7 42.7 66.3 PAT margin %
-73 bps +164 bps
5.8% 4.2% 6.6% EPS (₹)
+1.6% +62.8%
4.33 2.66 4.26
Quality of profit
Pre-tax profit ₹99.6 Cr: core business ₹83.5 Cr, other income ₹34.3 Cr, exceptional & other items −₹18.2 Cr.
Core profit YoY: +16.4%
· reported profit +2.1%
Cash & debt
FY25 cash from operations ₹465 Cr:
135% of FY25 net profit of ₹344 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,005 ₹1,160
+15.3% above Net profit ₹42.3 ₹67.7
+60.1% above
M Cap ₹11,772 Cr
P/E 218.4
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+45.8%
749 514 Operating profit
+295.1%
165 41.7 OPM %
+1388 bps
22.0% 8.1% Other income
+6.5%
10.8 10.1 Net profit?
from loss 68.8 -52.1 PAT margin %
+1934 bps
9.2% -10.1% EPS (₹)
from loss 4.57 -3.73
Quality of profit
Pre-tax profit ₹68.8 Cr: core business ₹58.1 Cr, other income ₹10.8 Cr.
M Cap ₹11,743 Cr
P/E 140.6
PEG —
Operating margin expanded 3420 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+41.9% -11.3%
3,008 3,390 2,120 Operating profit
from loss -52.7%
98.0 207 -656 OPM %
+3420 bps -285 bps
3.3% 6.1% -30.9% Other income
+5.6% -9.5%
19.0 21.0 18.0 Net profit
loss narrowed loss widened -244 -115 -758 PAT margin %
+2764 bps -472 bps
-8.1% -3.4% -35.8% EPS (₹)
loss narrowed loss widened -0.83 -0.39 -2.59
Quality of profit
Pre-tax profit −₹264 Cr: core business −₹282 Cr, other income ₹19.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹1,966 Cr.
Borrowings ₹5,909 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4,124 ₹3,008
-27.1% below
M Cap ₹11,708 Cr
P/E 60.0
PEG —
Operating margin expanded 382 bps YoY Core business grew faster than reported profit (core profit +372%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+291.3% +38.0%
284 206 72.6 Operating profit
+353.6% +118.0%
79.0 36.2 17.4 OPM %
+382 bps +1020 bps
27.8% 17.6% 24.0% Other income
-95.8% -97.7%
0.3 13.1 7.2 Net profit?
+220.7% +78.5%
62.8 35.2 19.6 PAT margin %
-486 bps +501 bps
22.1% 17.1% 27.0% EPS (₹)
+162.0% +60.2%
5.03 3.14 1.92
Quality of profit
Pre-tax profit ₹74.3 Cr: core business ₹74.0 Cr, other income ₹0.3 Cr.
Core profit YoY: +371.9%
· reported profit +220.7%
M Cap ₹11,519 Cr
P/E —
PEG —
₹ Cr YoY
Dec 2025 Dec 2024
Total income
+0.5%
1,126 1,121 Net interest income
-1.8%
132 135 Other income
+11.7%
746 668 Operating profit (pre-provision)
-1.2%
398 403 Provisions
to loss -23.4 116 Net profit?
+53.6%
318 207 EPS (₹)
+49.3%
3.27 2.19 Cost-to-income %
+486 bps
54.6% 49.8%
Where profit came from
Pre-provision profit ₹398 Cr (-1.2% YoY); provisions −₹23.4 Cr.
Net profit +53.6% YoY.
M Cap ₹11,438 Cr
P/E 19.7
PEG 0.60
Profit +10% above its own trend Gross NPA up 30 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+18.4% +0.8%
483 479 408 Net interest income
+35.2% +5.1%
288 274 213 Other income
-50.0% -50.0%
1.0 2.0 2.0 Net profit
+44.3% +6.1%
140 132 97.0 EPS (₹)
+24.2% +6.0%
13.49 12.73 10.86 Gross NPA %
+30 bps +10 bps
2.0% 1.9% 1.7% Net NPA %
+30 bps +10 bps
1.6% 1.5% 1.3%
Against its own trend ?
Trend Actual Gap
NII ₹292 ₹288
-1.2% in line Net profit ₹127 ₹140
+10.3% above
M Cap ₹11,433 Cr
P/E 62.0
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+5.7%
172 163 Operating profit
+8.2%
60.0 55.5 OPM %
+79 bps
34.9% 34.1% Other income
-31.1%
7.0 10.2 Net profit?
+2.6%
48.0 46.8 PAT margin %
-85 bps
27.9% 28.8% EPS (₹)
+0.0%
4.20 4.20
Quality of profit
Pre-tax profit ₹62.0 Cr: core business ₹55.0 Cr, other income ₹7.0 Cr.
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
