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: 44 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 ₹61.0 Cr
P/E 20.6
PEG 1.14
Profit +39% above its own trend Operating margin contracted 900 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
+13.0% -7.1%
25.6 27.5 22.6 Operating profit
to loss to loss -1.7 0.5 0.5 OPM %
-900 bps -828 bps
-6.6% 1.7% 2.4% Other income
+174.8% +180.7%
3.9 1.4 1.4 Net profit?
+51.4% +75.8%
1.1 0.6 0.7 PAT margin %
+108 bps +201 bps
4.3% 2.3% 3.2% EPS (₹)
+37.5% +83.3%
0.11 0.06 0.08
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹2.7 Cr, other income ₹3.9 Cr.
Core profit YoY: loss widened
· reported profit +51.4%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-180% of FY25 net profit of ₹1.7 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.8 ₹25.6
-4.5% in line Net profit ₹0.8 ₹1.1
+39.5% above
M Cap ₹57.0 Cr
P/E 1.6
PEG —
Profit +25% above its own trend Operating margin contracted 2853 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
-92.1% +134.2%
16.8 7.2 212 Operating profit
to loss loss widened -3.4 -0.5 18.0 OPM %
-2853 bps -1333 bps
-20.0% -6.7% 8.5% Other income
— —
33.0 0.0 0.0 Net profit
+132.0% from loss 30.2 -0.6 13.0 EPS (₹)
+134.1% from loss 1.92 -0.04 0.82
Quality of profit
Pre-tax profit ₹29.4 Cr: core business −₹3.6 Cr, other income ₹33.0 Cr.
Core profit YoY: to loss
· reported profit +132.0%
Cash & debt
FY25 cash from operations −₹20.0 Cr.
Borrowings ₹203 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹120 ₹16.8
-86.0% below Net profit ₹24.0 ₹30.2
+25.5% above
M Cap ₹56.0 Cr
P/E 86.2
PEG 2.05
Turnaround: profit against a loss a year ago Operating margin expanded 1424 bps YoY 73% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.8% +7.5%
0.6 0.5 0.5 Operating profit
+62.5% +188.9%
0.3 0.1 0.2 OPM %
+1424 bps +2863 bps
45.6% 17.0% 31.4% Other income
-2.6% from loss 0.4 -0.2 0.4 Net profit?
from loss from loss 0.5 -0.3 -0.8 PAT margin %
— +14108 bps
80.7% -60.4% — EPS (₹)
from loss from loss 0.35 -0.25 -0.59
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.1 Cr, other income ₹0.4 Cr.
Core profit YoY: +180.0%
Cash & debt
FY25 cash from operations ₹1.1 Cr:
75% of FY25 net profit of ₹1.4 Cr.
Borrowings ₹0.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.6 ₹0.6
-10.6% below
M Cap ₹55.0 Cr
P/E 9.4
PEG —
Profit +999% above its own trend Operating margin expanded 1495 bps YoY 64% 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
-9.7% -65.0%
17.9 51.0 19.8 Operating profit
from loss +753.3%
2.6 0.3 -0.1 OPM %
+1495 bps +1375 bps
14.3% 0.6% -0.6% Other income
+492.0% +844.7%
4.4 0.5 0.8 Net profit
+989.4% +903.9%
5.1 0.5 0.5 PAT margin %
+2630 bps +2768 bps
28.7% 1.0% 2.4% EPS (₹)
— —
0.05 0.00 0.00
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹2.5 Cr, other income ₹4.4 Cr.
Core profit YoY: from loss
· reported profit +989.4%
Cash & debt
FY25 cash from operations −₹23.0 Cr:
-644% of FY25 net profit of ₹3.6 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.1 ₹17.9
-19.1% below Net profit ₹0.2 ₹5.1
+999.0% above
M Cap ₹54.0 Cr
P/E 6.7
PEG 0.25
Profit -40% below its own trend Operating margin expanded 573 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 5% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.7% -0.1%
24.3 24.3 26.1 Operating profit
+5.9% +29.5%
11.7 9.1 11.1 OPM %
+573 bps +1101 bps
48.2% 37.2% 42.5% Other income
-3.9% -54.0%
2.7 5.8 2.8 Net profit?
-70.2% -24.9%
1.8 2.4 6.1 PAT margin %
-1584 bps -246 bps
7.4% 9.9% 23.3% EPS (₹)
-69.8% -27.3%
0.32 0.44 1.06
Quality of profit
Pre-tax profit ₹1.9 Cr: core business −₹0.8 Cr, other income ₹2.7 Cr.
Core profit YoY: to loss
· reported profit -70.2%
Cash & debt
FY25 cash from operations ₹3.1 Cr:
5% of FY25 net profit of ₹64.6 Cr.
Borrowings ₹179 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.6 ₹24.3
-8.7% below Net profit ₹3.0 ₹1.8
-40.4% below
M Cap ₹52.0 Cr
P/E 13.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1227 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
+22.1% +0.2%
26.1 26.0 21.4 Operating profit
from loss +20.0%
2.1 1.8 -0.9 OPM %
+1227 bps +133 bps
8.1% 6.7% -4.2% Other income
+930.0% —
1.0 0.0 0.1 Net profit
from loss +95.2%
1.6 0.8 -2.7 PAT margin %
+1881 bps +303 bps
6.2% 3.2% -12.6% EPS (₹)
from loss +50.0%
0.03 0.02 -0.06
Quality of profit
Pre-tax profit ₹1.6 Cr: core business ₹0.6 Cr, other income ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹7.0 Cr.
Borrowings ₹27.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.9 ₹26.1
+25.0% above
52% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.3% +25.0%
8.8 7.0 7.6 Operating profit
+17.2% +28.7%
1.8 1.4 1.6 OPM %
+34 bps +60 bps
21.0% 20.4% 20.7% Other income
+16.7% -6.7%
0.1 0.1 0.1 Net profit
+53.3% from loss 0.2 -0.1 0.1 PAT margin %
+65 bps +377 bps
2.6% -1.1% 2.0% EPS (₹)
+0.0% from loss 0.01 -0.01 0.01
Quality of profit
Pre-tax profit ₹0.3 Cr: core business ₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: +62.5%
· reported profit +53.3%
Cash & debt
FY25 cash from operations ₹4.8 Cr.
Borrowings ₹18.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.1 ₹8.8
+8.4% above
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
-23.9% +7.4%
8.9 8.3 11.7 Operating profit
-18.4% from loss 0.4 -2.3 0.5 OPM %
+31 bps +3280 bps
4.5% -28.3% 4.2% Other income
-61.3% —
0.1 0.0 0.3 Net profit
-85.2% from loss 0.0 -2.9 0.3 PAT margin %
-186 bps +3600 bps
0.5% -35.6% 2.3% EPS (₹)
-100.0% loss narrowed 0.00 -0.22 0.02
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: —
· reported profit -85.2%
Cash & debt
FY25 cash from operations −₹4.1 Cr:
-596% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹16.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.9 ₹8.9
-25.3% below
M Cap ₹49.0 Cr
P/E 13.1
PEG 0.11
Turnaround: profit against a loss a year ago Operating margin expanded 1654 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% -11.9%
10.5 12.0 10.6 Operating profit
from loss +14.3%
0.7 0.6 -1.0 OPM %
+1654 bps +157 bps
6.8% 5.3% -9.7% Other income
-34.7% -27.9%
0.6 0.9 0.9 Net profit?
from loss +19.6%
0.6 0.5 -0.5 PAT margin %
+1050 bps +153 bps
5.8% 4.3% -4.7% EPS (₹)
from loss +33.3%
0.04 0.03 -0.06
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.1 Cr, other income ₹0.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹8.6 Cr.
Borrowings ₹15.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.2 ₹10.5
+28.8% above
M Cap ₹49.0 Cr
P/E 102.5
PEG 1.44
Profit -75% below its own trend Operating margin expanded 828 bps YoY 80% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -90%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-93.9% -93.6%
0.9 13.5 14.2 Operating profit
-71.0% -25.0%
0.1 0.1 0.3 OPM %
+828 bps +958 bps
10.5% 0.9% 2.2% Other income
+300.0% +33.3%
0.1 0.1 0.0 Net profit
-50.0% +0.0%
0.1 0.1 0.2 PAT margin %
+818 bps +871 bps
9.3% 0.6% 1.1% EPS (₹)
-50.0% +0.0%
0.05 0.05 0.10
Quality of profit
Pre-tax profit ₹0.1 Cr: core business ₹0.0 Cr, other income ₹0.1 Cr.
Core profit YoY: -90.0%
· reported profit -50.0%
Cash & debt
FY25 cash from operations −₹1.9 Cr:
-349% of FY25 net profit of ₹0.6 Cr.
Borrowings ₹0.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹25.5 ₹0.9
-96.6% below Net profit ₹0.3 ₹0.1
-75.0% below
M Cap ₹48.0 Cr
P/E 7.6
PEG 0.85
Profit +85% above its own trend Operating margin expanded 172 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
+106.4% +637.4%
66.7 9.0 32.3 Operating profit
from loss from loss 0.3 -0.3 -0.4 OPM %
+172 bps +394 bps
0.5% -3.4% -1.2% Other income
+2.4% -10.1%
2.9 3.3 2.9 Net profit?
+59.5% +18.8%
1.8 1.5 1.1 PAT margin %
-78 bps -1383 bps
2.7% 16.5% 3.4% EPS (₹)
+61.8% +19.6%
0.55 0.46 0.34
Quality of profit
Pre-tax profit ₹2.4 Cr: core business −₹0.5 Cr, other income ₹2.9 Cr.
Core profit YoY: loss narrowed
· reported profit +59.5%
Cash & debt
FY25 cash from operations −₹19.8 Cr:
-346% of FY25 net profit of ₹5.7 Cr.
Borrowings ₹52.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹16.1 ₹66.7
+312.8% above Net profit ₹1.0 ₹1.8
+85.4% above
Profit -51% below its own trend Operating margin expanded 675 bps YoY 84% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -96%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-72.6% +5.2%
32.6 31.0 119 Operating profit
-59.6% +4.9%
6.9 6.5 17.0 OPM %
+675 bps -7 bps
21.0% 21.1% 14.3% Other income
+300.0% +32.5%
2.0 1.5 0.5 Net profit
-73.1% +0.0%
1.7 1.7 6.3 PAT margin %
-10 bps -27 bps
5.2% 5.5% 5.3% EPS (₹)
-75.1% +0.0%
0.66 0.66 2.65
Quality of profit
Pre-tax profit ₹2.4 Cr: core business ₹0.4 Cr, other income ₹2.0 Cr.
Core profit YoY: -95.6%
· reported profit -73.1%
Cash & debt
FY25 cash from operations ₹11.0 Cr:
55% of FY25 net profit of ₹20.0 Cr.
Borrowings ₹190 Cr at Sep 2025, against ₹212 Cr at Mar 2025 (-10% ).
Against its own trend ?
Trend Actual Gap
Sales ₹104 ₹32.6
-68.5% below Net profit ₹3.5 ₹1.7
-50.6% below
M Cap ₹44.0 Cr
P/E 14.3
PEG 0.37
Profit -35% below its own trend 80% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+43.2% +16.7%
39.2 33.6 27.4 Operating profit
+67.9% +213.3%
0.5 0.1 0.3 OPM %
+18 bps +75 bps
1.2% 0.4% 1.0% Other income
-29.1% -44.3%
0.4 0.7 0.6 Net profit?
+10.3% -20.0%
0.3 0.4 0.3 PAT margin %
-24 bps -37 bps
0.8% 1.2% 1.1% EPS (₹)
+11.8% -17.4%
0.19 0.23 0.17
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.1 Cr, other income ₹0.4 Cr.
Core profit YoY: from loss
· reported profit +10.3%
Cash & debt
FY25 cash from operations ₹4.0 Cr:
208% of FY25 net profit of ₹1.9 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹29.5 ₹39.2
+32.7% above Net profit ₹0.5 ₹0.3
-35.3% below
M Cap ₹43.0 Cr
P/E 9.4
PEG 0.11
84% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +600%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.9% +1.9%
59.2 58.1 50.2 Operating profit
+25.9% -42.0%
1.0 1.8 0.8 OPM %
+11 bps -131 bps
1.7% 3.0% 1.6% Other income
-28.3% -19.1%
0.4 0.5 0.5 Net profit?
-47.8% -84.0%
0.2 1.5 0.5 PAT margin %
-51 bps -218 bps
0.4% 2.6% 0.9% EPS (₹)
-47.1% -83.8%
0.18 1.11 0.34
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.1 Cr, other income ₹0.4 Cr.
Core profit YoY: +600.0%
· reported profit -47.8%
Cash & debt
FY25 cash from operations −₹2.0 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹63.0 ₹59.2
-6.0% below
M Cap ₹41.0 Cr
P/E 62.7
PEG —
Profit +999% above its own trend Operating margin expanded 807 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
-21.6% -9.8%
10.9 12.1 13.9 Operating profit
+54.8% +559.3%
1.8 0.3 1.1 OPM %
+807 bps +1412 bps
16.4% 2.2% 8.3% Other income
+63.6% +80.0%
0.4 0.2 0.2 Net profit?
— from loss 0.9 -1.1 0.1 PAT margin %
+793 bps +1740 bps
8.4% -9.0% 0.4% EPS (₹)
— from loss 0.54 -0.65 0.04
Quality of profit
Pre-tax profit ₹0.9 Cr: core business ₹0.6 Cr, other income ₹0.4 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹9.6 Cr:
1061% of FY25 net profit of ₹0.9 Cr.
Borrowings ₹86.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹19.2 ₹10.9
-43.4% below Net profit ₹0.0 ₹0.9
+999.0% above
M Cap ₹41.0 Cr
P/E 54.5
PEG —
Profit -75% below its own trend Operating margin contracted 1012 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
-77.7% -37.6%
4.8 7.7 21.7 Operating profit
to loss loss widened -0.2 -0.1 1.3 OPM %
-1012 bps -264 bps
-3.9% -1.3% 6.2% Other income
-26.9% -8.1%
0.6 0.6 0.8 Net profit
-87.6% -37.9%
0.2 0.3 1.4 PAT margin %
-297 bps -2 bps
3.7% 3.7% 6.7% EPS (₹)
-88.1% -40.9%
0.13 0.22 1.09
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.3 Cr, other income ₹0.6 Cr.
Core profit YoY: to loss
· reported profit -87.6%
Cash & debt
FY25 cash from operations −₹6.2 Cr:
-130% of FY25 net profit of ₹4.8 Cr.
Borrowings ₹0.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.8 ₹4.8
-55.4% below Net profit ₹0.7 ₹0.2
-75.2% below
M Cap ₹41.0 Cr
P/E 12.1
PEG 1.10
Profit +46% 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
+49.9% +56.0%
54.0 34.6 36.0 Operating profit
+39.6% +79.2%
3.3 1.8 2.4 OPM %
-45 bps +79 bps
6.1% 5.3% 6.5% Other income
-21.2% -44.4%
1.2 2.1 1.5 Net profit
+47.4% -39.8%
0.6 0.9 0.4 PAT margin %
-2 bps -165 bps
1.0% 2.7% 1.1% EPS (₹)
+50.0% -38.9%
0.33 0.54 0.22
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹0.3 Cr, other income ₹1.2 Cr.
Core profit YoY: loss narrowed
· reported profit +47.4%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
204% of FY25 net profit of ₹0.5 Cr.
Borrowings ₹82.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹46.1 ₹54.0
+17.3% above Net profit ₹0.4 ₹0.6
+46.1% above
Into loss: a profit a year ago Operating margin expanded 813 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
-23.2% -25.4%
13.7 18.4 17.8 Operating profit
+286.1% -30.5%
1.4 2.0 0.4 OPM %
+813 bps -74 bps
10.2% 10.9% 2.0% Other income
-70.5% +66.0%
0.9 0.5 3.0 Net profit
to loss loss narrowed -0.1 -0.2 0.0 PAT margin %
-68 bps +85 bps
-0.5% -1.4% 0.2% EPS (₹)
to loss loss narrowed -0.02 -0.07 0.01
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.8 Cr, other income ₹0.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹7.7 Cr.
Borrowings ₹48.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹15.7 ₹13.7
-12.6% below
M Cap ₹40.0 Cr
P/E 47.6
PEG —
Profit -97% below its own trend Operating margin expanded 150 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
+5.5% -11.7%
29.1 33.0 27.6 Operating profit
+43.1% +53.7%
1.7 1.1 1.2 OPM %
+150 bps +243 bps
5.7% 3.3% 4.2% Other income
-87.2% -9.7%
0.7 0.7 5.1 Net profit
-94.1% —
0.2 0.0 3.6 PAT margin %
-1225 bps +69 bps
0.7% 0.0% 13.0% EPS (₹)
-100.0% —
0.00 0.00 0.08
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.3 Cr, other income ₹0.7 Cr.
Core profit YoY: to loss
· reported profit -94.1%
Cash & debt
FY25 cash from operations −₹15.0 Cr:
-291% of FY25 net profit of ₹5.2 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹28.6 ₹29.1
+2.0% in line Net profit ₹6.3 ₹0.2
-96.6% below
Profit +300% above its own trend Operating margin contracted 121 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
-12.3% -20.0%
10.5 13.2 12.0 Operating profit
-29.3% -7.0%
0.5 0.6 0.8 OPM %
-121 bps +70 bps
5.0% 4.3% 6.2% Other income
+0.0% -38.8%
0.3 0.5 0.3 Net profit
+100.0% -85.7%
0.0 0.1 0.0 PAT margin %
+11 bps -87 bps
0.2% 1.1% 0.1% EPS (₹)
+100.0% -84.0%
0.04 0.25 0.02
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.3 Cr, other income ₹0.3 Cr.
Core profit YoY: loss widened
· reported profit +100.0%
Cash & debt
FY25 cash from operations ₹2.1 Cr:
4220% of FY25 net profit of ₹0.1 Cr.
Borrowings ₹22.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.3 ₹10.5
-6.8% below Net profit ₹0.0 ₹0.0
+300.0% above
M Cap ₹39.0 Cr
P/E 219.1
PEG 4.98
Profit +33% above its own trend Operating margin contracted 128 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
-51.9% +10.0%
4.8 4.4 10.1 Operating profit
loss narrowed loss narrowed -0.4 -0.7 -0.6 OPM %
-128 bps +870 bps
-7.4% -16.1% -6.2% Other income
-35.1% -41.9%
0.5 0.9 0.8 Net profit
+0.0% -50.0%
0.0 0.0 0.0 PAT margin %
+21 bps -50 bps
0.4% 0.9% 0.2% EPS (₹)
+0.0% -50.0%
0.01 0.02 0.01
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.5 Cr, other income ₹0.5 Cr.
Core profit YoY: loss narrowed
· reported profit +0.0%
Cash & debt
FY25 cash from operations −₹0.4 Cr:
-338% of FY25 net profit of ₹0.1 Cr.
Borrowings ₹40.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.7 ₹4.8
-58.8% below Net profit ₹0.0 ₹0.0
+33.3% above
Operating margin contracted 506 bps YoY 60% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +12%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.0% -0.6%
1.6 1.6 1.6 Operating profit
-6.6% +0.0%
1.1 1.1 1.2 OPM %
-506 bps +45 bps
71.5% 71.1% 76.6% Other income
from loss from loss 0.8 -0.0 -0.3 Net profit
+927.3% +334.6%
1.1 0.3 0.1 PAT margin %
+6456 bps +5517 bps
71.5% 16.4% 7.0% EPS (₹)
+950.0% +320.0%
0.21 0.05 0.02
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹0.6 Cr, other income ₹0.8 Cr.
Core profit YoY: +12.0%
· reported profit +927.3%
Cash & debt
FY25 cash from operations ₹2.1 Cr.
Borrowings ₹21.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1.5 ₹1.6
+2.0% in line
M Cap ₹36.0 Cr
P/E 2.8
PEG 0.06
Profit +215% above its own trend Operating margin expanded 493 bps YoY 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +29%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.8% +28.4%
6.7 5.2 6.9 Operating profit
+12.4% +117.9%
2.4 1.1 2.2 OPM %
+493 bps +1498 bps
36.5% 21.5% 31.5% Other income
+487.0% +25.3%
3.2 2.5 0.5 Net profit?
+150.8% +51.7%
4.5 3.0 1.8 PAT margin %
+4110 bps +1030 bps
67.1% 56.8% 26.0% EPS (₹)
+150.0% +52.5%
1.80 1.18 0.72
Quality of profit
Pre-tax profit ₹5.1 Cr: core business ₹2.0 Cr, other income ₹3.2 Cr.
Core profit YoY: +29.1%
· reported profit +150.8%
Cash & debt
FY25 cash from operations −₹6.0 Cr:
-82% of FY25 net profit of ₹7.3 Cr.
Borrowings ₹15.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.4 ₹6.7
+94.5% above Net profit ₹1.4 ₹4.5
+214.7% above
M Cap ₹31.0 Cr
P/E 83.6
PEG —
Profit +22% above its own trend Operating margin contracted 317 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
-38.6% -21.7%
18.2 23.2 29.6 Operating profit
to loss to loss -0.5 0.4 0.1 OPM %
-317 bps -437 bps
-2.7% 1.7% 0.5% Other income
+134.3% —
0.8 0.0 0.3 Net profit?
-33.3% -9.1%
0.1 0.1 0.1 PAT margin %
+4 bps +8 bps
0.5% 0.5% 0.5% EPS (₹)
-40.0% +0.0%
0.03 0.03 0.05
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.7 Cr, other income ₹0.8 Cr.
Core profit YoY: loss widened
· reported profit -33.3%
Cash & debt
FY25 cash from operations ₹1.2 Cr:
153% of FY25 net profit of ₹0.8 Cr.
Borrowings ₹11.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.0 ₹18.2
-9.0% below Net profit ₹0.1 ₹0.1
+21.5% above
M Cap ₹28.0 Cr
P/E 23.8
PEG 2.65
Profit +46% above its own trend Operating margin contracted 747 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
+291.8% -8.5%
23.9 26.1 6.1 Operating profit
-38.9% -53.5%
0.3 0.7 0.5 OPM %
-747 bps -134 bps
1.4% 2.7% 8.9% Other income
— —
0.3 0.0 0.0 Net profit
+37.5% -42.1%
0.1 0.2 0.1 PAT margin %
-85 bps -27 bps
0.5% 0.7% 1.3% EPS (₹)
+33.3% -42.9%
0.20 0.35 0.15
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.1 Cr, other income ₹0.3 Cr.
Core profit YoY: to loss
· reported profit +37.5%
Cash & debt
FY25 cash from operations ₹7.7 Cr:
1453% of FY25 net profit of ₹0.5 Cr.
Borrowings ₹2.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹6.8 ₹23.9
+253.8% above Net profit ₹0.1 ₹0.1
+46.2% above
M Cap ₹28.0 Cr
P/E 5.0
PEG 0.02
Turnaround: profit against a loss a year ago 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— +287.8%
8.9 2.3 0.0 Operating profit
from loss from loss 2.3 -0.1 -0.4 OPM %
— +3082 bps
26.0% -4.8% — Other income
— +110.8%
1.6 0.7 0.0 Net profit
from loss +593.0%
4.0 0.6 -0.4 PAT margin %
— +1959 bps
44.5% 24.9% — EPS (₹)
from loss +600.0%
0.21 0.03 -0.02
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹2.3 Cr, other income ₹1.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹1.2 Cr:
138% of FY25 net profit of ₹0.9 Cr.
Borrowings ₹11.1 Cr at Mar 2025.
M Cap ₹27.0 Cr
P/E 18.5
PEG 9.26
Operating margin contracted 309 bps YoY 41% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -32%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.3% +22.8%
10.6 8.6 10.2 Operating profit
-10.8% +34.6%
2.1 1.5 2.3 OPM %
-309 bps +172 bps
19.5% 17.8% 22.6% Other income
+125.0% -22.9%
0.3 0.3 0.1 Net profit
-2.9% +214.3%
0.7 0.2 0.7 PAT margin %
-40 bps +381 bps
6.2% 2.4% 6.6% EPS (₹)
+0.0% +228.6%
0.23 0.07 0.23
Quality of profit
Pre-tax profit ₹0.7 Cr: core business ₹0.4 Cr, other income ₹0.3 Cr.
Core profit YoY: -31.6%
· reported profit -2.9%
Cash & debt
FY25 cash from operations ₹10.5 Cr:
542% of FY25 net profit of ₹1.9 Cr.
Borrowings ₹16.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.5 ₹10.6
-8.3% below Net profit ₹0.7 ₹0.7
-5.8% in line
M Cap ₹26.0 Cr
P/E 11.5
PEG 1.91
Profit -73% below its own trend Operating margin contracted 173 bps YoY 81% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -80%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+36.4% -41.6%
28.5 48.7 20.9 Operating profit
-81.0% -84.3%
0.1 0.5 0.4 OPM %
-173 bps -77 bps
0.3% 1.0% 2.0% Other income
+3.0% -64.9%
0.3 1.0 0.3 Net profit?
-45.1% -71.3%
0.4 1.4 0.7 PAT margin %
-203 bps -142 bps
1.4% 2.8% 3.4% EPS (₹)
-50.0% -71.4%
0.02 0.07 0.04
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.1 Cr, other income ₹0.3 Cr.
Core profit YoY: -80.5%
· reported profit -45.1%
Cash & debt
FY25 cash from operations ₹6.0 Cr:
769% of FY25 net profit of ₹0.8 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.6 ₹28.5
+38.0% above Net profit ₹1.4 ₹0.4
-72.5% below
Operating margin contracted 3248 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
-28.3% -26.3%
13.7 18.6 19.1 Operating profit
to loss loss widened -2.4 -0.9 2.9 OPM %
-3248 bps -1248 bps
-17.2% -4.7% 15.3% Other income
— +47.0%
5.4 3.7 0.1 Net profit
+787.5% +91.9%
0.7 0.4 0.1 PAT margin %
+476 bps +319 bps
5.2% 2.0% 0.4% EPS (₹)
+775.0% +94.4%
0.35 0.18 0.04
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹4.8 Cr, other income ₹5.4 Cr.
Core profit YoY: loss widened
· reported profit +787.5%
Cash & debt
FY25 cash from operations −₹3.1 Cr.
Borrowings ₹65.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹16.9 ₹13.7
-19.0% below
M Cap ₹16.0 Cr
P/E 10.8
PEG —
Profit -41% below its own trend Operating margin expanded 253 bps YoY 70% 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
+0.0% -19.4%
0.8 1.0 0.8 Operating profit
+10.5% -22.2%
0.2 0.3 0.2 OPM %
+253 bps -97 bps
26.6% 27.6% 24.1% Other income
+32.1% +2.8%
0.4 0.4 0.3 Net profit
-2.4% -7.0%
0.4 0.4 0.4 PAT margin %
-127 bps +676 bps
50.6% 43.9% 51.9% EPS (₹)
-2.3% -7.0%
6.67 7.17 6.83
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.2 Cr, other income ₹0.4 Cr.
Core profit YoY: +6.7%
· reported profit -2.4%
Cash & debt
FY25 cash from operations −₹4.1 Cr:
-307% of FY25 net profit of ₹1.3 Cr.
Borrowings ₹4.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.9 ₹0.8
-11.2% below Net profit ₹0.7 ₹0.4
-40.7% below
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, 21:05 IST
