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: 45 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 24 of 144
Tap ☆ on any company to add it to My companies. Your list stays in this browser.
M Cap ₹6,866 Cr
P/E 20.7
PEG —
Profit -16% below its own trend Exceptional items of ₹-14.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.2% -1.8%
1,717 1,749 1,632 Operating profit
+5.1% -21.4%
176 224 168 OPM %
-1 bps -256 bps
10.3% 12.8% 10.3% Other income
-86.5% -84.7%
3.0 19.6 22.3 Net profit?
-57.8% -64.7%
27.5 77.9 65.3 PAT margin %
-240 bps -285 bps
1.6% 4.5% 4.0% EPS (₹)
-58.3% -63.6%
1.61 4.42 3.86
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹32.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -47.4%
· reported profit -57.8%
Cash & debt
FY25 cash from operations ₹613 Cr:
152% of FY25 net profit of ₹402 Cr.
Borrowings ₹1,885 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,593 ₹1,717
+7.8% above Net profit ₹32.6 ₹27.5
-15.7% below
M Cap ₹6,860 Cr
P/E 24.1
PEG 1.61
Operating margin contracted 147 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.0% +0.5%
740 736 704 Operating profit
-4.4% -6.4%
111 118 116 OPM %
-147 bps -110 bps
15.0% 16.1% 16.4% Other income
+10.8% -9.6%
15.3 17.0 13.8 Net profit?
-7.2% -7.6%
81.1 87.8 87.4 PAT margin %
-144 bps -95 bps
11.0% 11.9% 12.4% EPS (₹)
-7.1% -7.5%
2.21 2.39 2.38
Quality of profit
Pre-tax profit ₹109 Cr: core business ₹94.1 Cr, other income ₹15.3 Cr.
Core profit YoY: -5.9%
· reported profit -7.2%
Cash & debt
FY25 cash from operations ₹311 Cr:
84% of FY25 net profit of ₹370 Cr.
Borrowings ₹61.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹713 ₹740
+3.8% in line Net profit ₹83.6 ₹81.1
-3.0% in line
M Cap ₹6,858 Cr
P/E 14.8
PEG 3.70
Exceptional items of ₹-31.3 Cr in the quarter Core business grew faster than reported profit (core profit +26%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.4% +45.4%
3,081 2,119 2,843 Operating profit
+14.8% +22.3%
212 173 184 OPM %
+38 bps -130 bps
6.9% 8.2% 6.5% Other income
to loss to loss -20.0 31.0 0.7 Net profit?
-1.0% -13.3%
104 120 105 PAT margin %
-32 bps -229 bps
3.4% 5.7% 3.7% EPS (₹)
-0.5% -13.3%
3.72 4.29 3.74
Quality of profit
Pre-tax profit ₹141 Cr: core business ₹172 Cr, other income −₹20.0 Cr, exceptional & other items −₹11.3 Cr.
Core profit YoY: +26.4%
· reported profit -1.0%
Cash & debt
FY25 cash from operations ₹644 Cr:
152% of FY25 net profit of ₹425 Cr.
Borrowings ₹516 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,288 ₹3,081
-6.3% below Net profit ₹108 ₹104
-3.7% in line
M Cap ₹6,856 Cr
P/E 13.6
PEG 0.28
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+28.3% +5.7%
390 369 304 Net interest income
+30.2% +6.6%
276 259 212 Other income
— —
0.0 0.0 0.0 Net profit
+29.2% +1.6%
124 122 96.0 EPS (₹)
+28.1% +1.5%
11.41 11.24 8.91 Gross NPA %
+29 bps +29 bps
1.5% 1.2% 1.2% Net NPA %
+22 bps +22 bps
1.2% 0.9% 0.9%
Against its own trend ?
Trend Actual Gap
Net profit ₹135 ₹124
-8.3% in line
M Cap ₹6,808 Cr
P/E 21.0
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-11.6%
420 475 Operating profit
-32.8%
90.0 134 OPM %
-678 bps
21.4% 28.2% Other income
from loss 3.0 -22.0 Net profit
-18.4%
62.0 76.0 PAT margin %
-124 bps
14.8% 16.0% EPS (₹)
-18.8%
26.83 33.04
Quality of profit
Pre-tax profit ₹83.0 Cr: core business ₹79.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹6,796 Cr
P/E 18.6
PEG 1.03
Profit +309% above its own trend Operating margin expanded 845 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.4% +8.5%
880 811 719 Operating profit
+93.8% +6.2%
202 190 104 OPM %
+845 bps -49 bps
23.0% 23.4% 14.5% Other income
to loss to loss -1.0 3.5 2.5 Net profit?
+718.1% +4.1%
74.0 71.1 9.0 PAT margin %
+715 bps -35 bps
8.4% 8.8% 1.3% EPS (₹)
+740.9% +3.9%
1.85 1.78 0.22
Quality of profit
Pre-tax profit ₹99.0 Cr: core business ₹99.0 Cr, other income −₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: —
· reported profit +718.1%
Cash & debt
FY25 cash from operations ₹296 Cr:
175% of FY25 net profit of ₹169 Cr.
Borrowings ₹403 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹850 ₹880
+3.5% in line Net profit ₹18.1 ₹74.0
+309.1% above
M Cap ₹6,776 Cr
P/E 8.6
PEG 0.54
Gross NPA down 39 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+12.2% +3.6%
2,082 2,009 1,855 Net interest income
+15.1% +4.9%
625 596 543 Other income
+20.1% +18.8%
221 186 184 Net profit
+22.5% +0.5%
185 184 151 EPS (₹)
+18.8% -1.7%
5.74 5.84 4.83 Gross NPA %
-39 bps -19 bps
2.7% 2.9% 3.1% Net NPA %
-8 bps -11 bps
1.1% 1.2% 1.2%
Against its own trend ?
Trend Actual Gap
NII ₹629 ₹625
-0.6% in line Net profit ₹179 ₹185
+3.1% in line
M Cap ₹6,752 Cr
P/E 32.0
PEG —
Profit +46% above its own trend Operating margin expanded 249 bps YoY Core business grew faster than reported profit (core profit +24%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.9% -2.7%
331 341 313 Operating profit
+24.0% -5.2%
56.7 59.8 45.7 OPM %
+249 bps -46 bps
17.1% 17.6% 14.6% Other income
-36.5% -29.2%
5.0 7.1 7.9 Net profit?
-1.2% -17.1%
30.8 37.1 31.1 PAT margin %
-67 bps -161 bps
9.3% 10.9% 10.0% EPS (₹)
-7.3% -11.1%
9.49 10.67 10.24
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹41.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +24.1%
· reported profit -1.2%
Cash & debt
FY25 cash from operations ₹255 Cr:
160% of FY25 net profit of ₹159 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹279 ₹331
+18.8% above Net profit ₹21.1 ₹30.8
+45.7% above
M Cap ₹6,709 Cr
P/E 23.6
PEG —
Profit +314% above its own trend Operating margin expanded 324 bps YoY Exceptional items of ₹16.5 Cr in the quarter FY25 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.2% +2.8%
1,739 1,691 1,497 Operating profit
+63.8% +31.4%
194 147 118 OPM %
+324 bps +242 bps
11.1% 8.7% 7.9% Other income
+310.9% -48.3%
17.8 34.4 4.3 Net profit?
+265.5% +50.0%
84.4 56.3 23.1 PAT margin %
+331 bps +153 bps
4.9% 3.3% 1.5% EPS (₹)
+247.6% +58.7%
9.49 5.98 2.73
Quality of profit
Pre-tax profit ₹123 Cr: core business ₹149 Cr, other income ₹17.8 Cr, exceptional & other items −₹44.2 Cr.
Core profit YoY: +211.6%
· reported profit +265.5%
Cash & debt
FY25 cash from operations ₹116 Cr:
44% of FY25 net profit of ₹264 Cr.
Borrowings ₹861 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,415 ₹1,739
+22.9% above Net profit ₹20.4 ₹84.4
+314.1% above
M Cap ₹6,698 Cr
P/E 31.7
PEG 0.83
Profit +26% above its own trend Operating margin expanded 374 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+36.6% +0.8%
244 242 179 Operating profit
+56.8% +4.4%
71.0 68.0 45.3 OPM %
+374 bps +100 bps
29.1% 28.1% 25.4% Other income
+36.8% +0.0%
4.0 4.0 2.9 Net profit?
+62.4% +4.7%
45.0 43.0 27.7 PAT margin %
+292 bps +67 bps
18.4% 17.8% 15.5% EPS (₹)
+58.1% +1.8%
13.96 13.71 8.83
Quality of profit
Pre-tax profit ₹60.0 Cr: core business ₹56.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +70.0%
· reported profit +62.4%
Cash & debt
FY25 cash from operations ₹163 Cr:
137% of FY25 net profit of ₹119 Cr.
Borrowings ₹37.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹199 ₹244
+22.8% above Net profit ₹35.6 ₹45.0
+26.4% above
M Cap ₹6,697 Cr
P/E 47.4
PEG 1.97
Profit +36% above its own trend Operating margin expanded 152 bps YoY FY25 operating cash flow was only 27% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.9% +17.6%
484 412 453 Operating profit
+27.3% +49.9%
46.0 30.7 36.1 OPM %
+152 bps +205 bps
9.5% 7.5% 8.0% Other income
-25.1% -13.7%
4.0 4.6 5.3 Net profit?
+4.9% -31.8%
28.0 41.0 26.7 PAT margin %
-11 bps -419 bps
5.8% 10.0% 5.9% EPS (₹)
+2.0% -33.3%
0.50 0.75 0.49
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹32.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +7.1%
· reported profit +4.9%
Cash & debt
FY25 cash from operations ₹32.0 Cr:
27% of FY25 net profit of ₹118 Cr.
Borrowings ₹105 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹443 ₹484
+9.1% above Net profit ₹20.6 ₹28.0
+36.2% above
M Cap ₹6,694 Cr
P/E 21.3
PEG 0.89
Profit -36% below its own trend Operating margin contracted 180 bps YoY Exceptional items of ₹-35.1 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.1% -0.2%
400 401 381 Operating profit
-1.6% +4.2%
106 102 108 OPM %
-180 bps +111 bps
26.5% 25.4% 28.3% Other income
+150.6% +54.2%
20.0 13.0 8.0 Net profit?
-29.4% -23.4%
62.8 82.0 89.0 PAT margin %
-767 bps -476 bps
15.7% 20.4% 23.4% EPS (₹)
-29.7% -22.7%
4.46 5.77 6.34
Quality of profit
Pre-tax profit ₹80.1 Cr: core business ₹95.1 Cr, other income ₹20.0 Cr, exceptional & other items −₹35.1 Cr.
Core profit YoY: -3.0%
· reported profit -29.4%
Cash & debt
FY25 cash from operations ₹215 Cr:
68% of FY25 net profit of ₹315 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹430 ₹400
-6.9% below Net profit ₹98.4 ₹62.8
-36.2% below
M Cap ₹6,682 Cr
P/E 20.8
PEG 0.87
Profit +33% above its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.3% +22.8%
991 807 831 Operating profit
+13.0% +21.9%
139 114 123 OPM %
-78 bps -10 bps
14.0% 14.1% 14.8% Other income
+0.0% -35.3%
11.0 17.0 11.0 Net profit?
+1.4% +28.6%
72.0 56.0 71.0 PAT margin %
-128 bps +33 bps
7.3% 6.9% 8.5% EPS (₹)
+1.2% +27.6%
4.25 3.33 4.20
Quality of profit
Pre-tax profit ₹97.0 Cr: core business ₹86.0 Cr, other income ₹11.0 Cr.
Core profit YoY: +2.4%
· reported profit +1.4%
Cash & debt
FY25 cash from operations −₹520 Cr:
-182% of FY25 net profit of ₹286 Cr.
Borrowings ₹1,397 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹880 ₹991
+12.7% above Net profit ₹54.0 ₹72.0
+33.3% above
M Cap ₹6,680 Cr
P/E 32.7
PEG 0.76
Profit +24% above its own trend Operating margin expanded 461 bps YoY FY25 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.4% -0.4%
830 834 732 Operating profit
+62.1% +5.4%
128 121 78.7 OPM %
+461 bps +85 bps
15.4% 14.5% 10.8% Other income
+50.5% from loss 8.3 -19.3 5.5 Net profit?
+61.3% +48.8%
55.0 37.0 34.1 PAT margin %
+197 bps +219 bps
6.6% 4.4% 4.7% EPS (₹)
+42.5% +58.2%
7.64 4.83 5.36
Quality of profit
Pre-tax profit ₹76.3 Cr: core business ₹68.0 Cr, other income ₹8.3 Cr.
Core profit YoY: +64.4%
· reported profit +61.3%
Cash & debt
FY25 cash from operations ₹68.0 Cr:
44% of FY25 net profit of ₹153 Cr.
Borrowings ₹476 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹741 ₹830
+12.0% above Net profit ₹44.5 ₹55.0
+23.6% above
₹ Cr
Dec 2025
Sales
591 Operating profit
175 OPM %
29.6% Other income
10.0 Net profit?
77.0 PAT margin %
13.0% EPS (₹)
14.25
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 ₹104 Cr: core business ₹95.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Cash & debt
FY25 cash from operations −₹661 Cr.
Borrowings ₹1,562 Cr at Mar 2025.
M Cap ₹6,641 Cr
P/E 101.4
PEG 1.95
Profit +101% above its own trend Operating margin expanded 360 bps YoY 25% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +234%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.4% -5.4%
210 222 194 Operating profit
+74.1% -23.1%
20.0 26.0 11.5 OPM %
+360 bps -219 bps
9.5% 11.7% 5.9% Other income
-10.1% +0.0%
4.0 4.0 4.4 Net profit?
+150.7% -29.4%
12.0 17.0 4.8 PAT margin %
+324 bps -194 bps
5.7% 7.7% 2.5% EPS (₹)
+117.9% -29.2%
0.85 1.20 0.39
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹12.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +234.2%
· reported profit +150.7%
Cash & debt
FY25 cash from operations ₹55.0 Cr:
143% of FY25 net profit of ₹38.6 Cr.
Borrowings ₹55.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹234 ₹210
-10.3% below Net profit ₹6.0 ₹12.0
+100.7% above
M Cap ₹6,639 Cr
P/E 29.8
PEG 2.71
Profit +94% above its own trend Operating margin expanded 714 bps YoY Core business grew faster than reported profit (core profit +117%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+30.6% +15.5%
306 265 234 Operating profit
+113.9% +16.8%
56.1 48.0 26.2 OPM %
+714 bps +21 bps
18.3% 18.1% 11.2% Other income
-30.4% -33.9%
5.3 8.0 7.6 Net profit?
+83.2% +10.4%
46.4 42.0 25.3 PAT margin %
+435 bps -70 bps
15.1% 15.8% 10.8% EPS (₹)
+89.0% +6.2%
3.44 3.24 1.82
Quality of profit
Pre-tax profit ₹56.4 Cr: core business ₹51.1 Cr, other income ₹5.3 Cr.
Core profit YoY: +117.4%
· reported profit +83.2%
Cash & debt
FY25 cash from operations ₹65.0 Cr:
52% of FY25 net profit of ₹125 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹249 ₹306
+22.8% above Net profit ₹24.0 ₹46.4
+93.6% above
M Cap ₹6,606 Cr
P/E 36.5
PEG 0.56
Profit -80% below its own trend Exceptional items of ₹-40.4 Cr in the quarter Core business grew faster than reported profit (core profit +14%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.0% -16.4%
645 772 598 Operating profit
+16.0% -29.8%
68.6 97.7 59.1 OPM %
+73 bps -202 bps
10.6% 12.6% 9.9% Other income
+22.1% -9.3%
5.4 6.0 4.4 Net profit?
-71.5% -84.1%
10.0 62.9 35.0 PAT margin %
-431 bps -660 bps
1.5% 8.1% 5.9% EPS (₹)
-71.3% -83.9%
0.52 3.23 1.81
Quality of profit
Pre-tax profit ₹13.7 Cr: core business ₹48.7 Cr, other income ₹5.4 Cr, exceptional & other items −₹40.4 Cr.
Core profit YoY: +13.6%
· reported profit -71.5%
Cash & debt
FY25 cash from operations ₹246 Cr:
150% of FY25 net profit of ₹164 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹662 ₹645
-2.5% in line Net profit ₹49.8 ₹10.0
-79.9% below
M Cap ₹6,604 Cr
P/E 30.5
PEG —
Profit +444% above its own trend Operating margin contracted 2535 bps YoY Profit grew faster than the core business (core profit -82%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.1% +22.8%
1,074 875 967 Operating profit
-67.1% +31.3%
114 87.1 348 OPM %
-2535 bps +69 bps
10.6% 10.0% 36.0% Other income
+95.8% +48.7%
15.7 10.5 8.0 Net profit?
+171.8% +427.8%
52.6 10.0 19.3 PAT margin %
+289 bps +375 bps
4.9% 1.1% 2.0% EPS (₹)
+175.7% +442.0%
4.77 0.88 1.73
Quality of profit
Pre-tax profit ₹65.7 Cr: core business ₹50.0 Cr, other income ₹15.7 Cr.
Core profit YoY: -81.8%
· reported profit +171.8%
Cash & debt
FY25 cash from operations ₹252 Cr:
254% of FY25 net profit of ₹99.3 Cr.
Borrowings ₹1,462 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,011 ₹1,074
+6.3% above Net profit ₹9.7 ₹52.6
+443.6% above
M Cap ₹6,600 Cr
P/E 173.7
PEG 24.81
Operating margin expanded 1448 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.7% +2.8%
294 286 333 Operating profit
+16.7% +25.0%
175 140 150 OPM %
+1448 bps +1057 bps
59.5% 49.0% 45.0% Other income
to loss to loss -2.0 2.0 1.0 Net profit
loss narrowed loss narrowed -150 -321 -315 PAT margin %
+4357 bps —
-51.0% — -94.6% EPS (₹)
loss narrowed loss narrowed -0.77 -1.64 -1.61
Quality of profit
Pre-tax profit −₹150 Cr: core business −₹149 Cr, other income −₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹505 Cr.
Borrowings ₹20,416 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹305 ₹294
-3.5% in line
M Cap ₹6,584 Cr
P/E 44.4
PEG 6.35
Profit +31% above its own trend Operating margin contracted 827 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+45.9% +33.4%
184 138 126 Operating profit
+1.6% +12.3%
34.8 31.0 34.3 OPM %
-827 bps -357 bps
19.0% 22.5% 27.2% Other income
+35.4% -12.6%
6.7 7.7 5.0 Net profit?
+8.2% +15.5%
30.1 26.1 27.8 PAT margin %
-571 bps -254 bps
16.4% 18.9% 22.1% EPS (₹)
+7.0% +14.5%
0.26 adj. 0.23adj. 0.24
EPS restated for the 4:1 bonus of Oct 2025 and the ₹2 to ₹1 split of Oct 2025: Sep 2025 ₹2.27 to ₹0.23; Dec 2024 ₹2.43 to ₹0.24.
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹31.3 Cr, other income ₹6.7 Cr.
Core profit YoY: -0.7%
· reported profit +8.2%
Cash & debt
FY25 cash from operations ₹69.0 Cr:
63% of FY25 net profit of ₹109 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹117 ₹184
+57.1% above Net profit ₹23.1 ₹30.1
+30.6% above
M Cap ₹6,556 Cr
P/E 28.8
PEG —
Operating margin contracted 592 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-20.8% -2.5%
434 445 548 Operating profit
-50.0% -2.2%
44.0 45.0 88.0 OPM %
-592 bps +3 bps
10.1% 10.1% 16.1% Other income
+42.9% +0.0%
10.0 10.0 7.0 Net profit
-44.1% -2.6%
38.0 39.0 68.0 PAT margin %
-365 bps -1 bps
8.8% 8.8% 12.4% EPS (₹)
-44.0% -2.3%
3.34 3.42 5.96
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹41.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -51.2%
· reported profit -44.1%
Profit -49% below its own trend Operating margin contracted 347 bps YoY Exceptional items of ₹-18.5 Cr in the quarter FY25 operating cash flow was only 49% of profit
₹ Cr YoY
Dec 2025 Dec 2024
Sales
+10.3%
499 452 Operating profit
-17.7%
51.1 62.0 OPM %
-347 bps
10.2% 13.7% Other income
-4.9%
11.4 12.0 Net profit?
-49.0%
23.7 46.4 PAT margin %
-551 bps
4.7% 10.3% EPS (₹)
-48.3%
18.35 35.52
Quality of profit
Pre-tax profit ₹32.2 Cr: core business ₹39.3 Cr, other income ₹11.4 Cr, exceptional & other items −₹18.5 Cr.
Core profit YoY: -21.4%
· reported profit -49.0%
Cash & debt
FY25 cash from operations ₹122 Cr:
49% of FY25 net profit of ₹249 Cr.
Borrowings ₹67.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹477 ₹499
+4.7% in line Net profit ₹46.0 ₹23.7
-48.5% below
M Cap ₹6,507 Cr
P/E 10.4
PEG 0.38
Profit +166% above its own trend Operating margin expanded 636 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+38.7% +38.7%
1,289 929 929 Operating profit
+110.2% +81.4%
241 133 115 OPM %
+636 bps +440 bps
18.7% 14.3% 12.3% Other income
— -27.7%
21.2 29.4 0.6 Net profit?
+366.0% +95.2%
145 74.4 31.1 PAT margin %
+791 bps +326 bps
11.3% 8.0% 3.4% EPS (₹)
+366.4% +95.3%
16.09 8.24 3.45
Quality of profit
Pre-tax profit ₹179 Cr: core business ₹157 Cr, other income ₹21.2 Cr.
Core profit YoY: +247.1%
· reported profit +366.0%
Cash & debt
FY25 cash from operations ₹604 Cr:
198% of FY25 net profit of ₹304 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,230 ₹1,289
+4.7% in line Net profit ₹54.6 ₹145
+165.8% above
M Cap ₹6,503 Cr
P/E 30.2
PEG —
Profit +12% above its own trend Operating margin contracted 130 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.9% +10.0%
1,321 1,201 1,075 Operating profit
+8.3% +15.2%
128 111 118 OPM %
-130 bps +44 bps
9.7% 9.2% 11.0% Other income
— +141.0%
2.4 1.0 0.0 Net profit?
+2.4% +36.6%
49.2 36.0 48.0 PAT margin %
-74 bps +73 bps
3.7% 3.0% 4.5% EPS (₹)
+3.0% +38.5%
3.13 2.26 3.04
Quality of profit
Pre-tax profit ₹65.9 Cr: core business ₹63.5 Cr, other income ₹2.4 Cr.
Core profit YoY: -2.3%
· reported profit +2.4%
Cash & debt
FY25 cash from operations ₹517 Cr:
264% of FY25 net profit of ₹196 Cr.
Borrowings ₹828 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,210 ₹1,321
+9.1% above Net profit ₹43.8 ₹49.2
+12.3% above
M Cap ₹6,497 Cr
P/E 47.4
PEG 0.33
Profit -39% below its own trend Operating margin expanded 200 bps YoY Core business grew faster than reported profit (core profit +68%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.6% +39.5%
1,126 807 1,027 Operating profit
+22.8% +191.7%
210 72.0 171 OPM %
+200 bps +973 bps
18.7% 8.9% 16.7% Other income
-33.3% -33.3%
2.0 3.0 3.0 Net profit
+22.2% from loss 88.0 -9.0 72.0 PAT margin %
+80 bps +893 bps
7.8% -1.1% 7.0% EPS (₹)
+22.6% from loss 11.08 -1.12 9.04
Quality of profit
Pre-tax profit ₹113 Cr: core business ₹111 Cr, other income ₹2.0 Cr.
Core profit YoY: +68.2%
· reported profit +22.2%
Cash & debt
FY25 cash from operations ₹349 Cr:
759% of FY25 net profit of ₹46.0 Cr.
Borrowings ₹783 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,192 ₹1,126
-5.5% below Net profit ₹144 ₹88.0
-38.9% below
M Cap ₹6,493 Cr
P/E 14.1
PEG 1.18
28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.9% +3.6%
1,249 1,205 1,147 Operating profit
+7.2% +0.2%
127 127 118 OPM %
-16 bps -35 bps
10.2% 10.5% 10.3% Other income
+408.8% +176.8%
34.6 12.5 6.8 Net profit?
+13.4% +2.0%
116 114 102 PAT margin %
+37 bps -15 bps
9.3% 9.4% 8.9% EPS (₹)
+14.7% +1.8%
14.96 14.69 13.04
Quality of profit
Pre-tax profit ₹124 Cr: core business ₹89.1 Cr, other income ₹34.6 Cr.
Core profit YoY: +8.5%
· reported profit +13.4%
Cash & debt
FY25 cash from operations ₹359 Cr:
86% of FY25 net profit of ₹416 Cr.
Borrowings ₹242 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,252 ₹1,249
-0.2% in line Net profit ₹117 ₹116
-0.8% in line
M Cap ₹6,488 Cr
P/E 25.4
PEG 0.91
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.6% +3.8%
407 392 355 Operating profit
+12.7% +8.4%
116 107 103 OPM %
-49 bps +119 bps
28.5% 27.3% 29.0% Other income
+19.9% +12.5%
7.2 6.4 6.0 Net profit
+12.5% +10.5%
65.0 58.9 57.8 PAT margin %
-31 bps +96 bps
16.0% 15.0% 16.3% EPS (₹)
+12.5% +10.5%
59.42 53.79 52.83
Quality of profit
Pre-tax profit ₹87.1 Cr: core business ₹79.9 Cr, other income ₹7.2 Cr.
Core profit YoY: +15.6%
· reported profit +12.5%
Cash & debt
FY25 cash from operations ₹353 Cr:
169% of FY25 net profit of ₹209 Cr.
Borrowings ₹415 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹400 ₹407
+1.8% in line Net profit ₹65.0 ₹65.0
-0.0% in line
M Cap ₹6,461 Cr
P/E 12.3
PEG 0.56
Profit +76% above its own trend Operating margin expanded 345 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.3% -2.2%
703 719 643 Operating profit
+28.2% +19.1%
164 138 128 OPM %
+345 bps +418 bps
23.4% 19.2% 19.9% Other income
+26.3% +35.9%
21.7 16.0 17.2 Net profit?
+40.8% +34.1%
131 98.0 93.4 PAT margin %
+419 bps +507 bps
18.7% 13.6% 14.5% EPS (₹)
+40.6% +34.6%
24.33 18.07 17.30
Quality of profit
Pre-tax profit ₹161 Cr: core business ₹140 Cr, other income ₹21.7 Cr.
Core profit YoY: +31.5%
· reported profit +40.8%
Cash & debt
FY25 cash from operations ₹585 Cr:
154% of FY25 net profit of ₹379 Cr.
Borrowings ₹389 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹613 ₹703
+14.6% above Net profit ₹74.7 ₹131
+76.1% above
M Cap ₹6,459 Cr
P/E 13.1
PEG 0.21
Profit -12% below its own trend Operating margin expanded 565 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+44.7% +4.5%
663 634 458 Operating profit
+72.1% +4.5%
236 226 137 OPM %
+565 bps +0 bps
35.6% 35.6% 29.9% Other income
+64.9% +92.7%
13.2 6.8 8.0 Net profit?
+48.0% +7.9%
126 117 85.0 PAT margin %
+42 bps +59 bps
19.0% 18.4% 18.6% EPS (₹)
+39.2% +8.0%
5.97 5.53 4.29
Quality of profit
Pre-tax profit ₹170 Cr: core business ₹154 Cr, other income ₹13.2 Cr, exceptional & other items ₹2.6 Cr.
Core profit YoY: +44.1%
· reported profit +48.0%
Cash & debt
FY25 cash from operations ₹208 Cr:
64% of FY25 net profit of ₹325 Cr.
Borrowings ₹1,475 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹808 ₹663
-18.0% below Net profit ₹143 ₹126
-12.1% 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, 21:52 IST
