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: 45 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
Latest Q3 FY26 results 4316
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M Cap ₹5,295 Cr
P/E 171.4
PEG —
Into loss: a profit a year ago Profit -160% below its own trend Operating margin contracted 290 bps YoY Exceptional items of ₹-34.4 Cr in the quarter FY25 operating cash flow was only 20% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.4% -0.0%
841 842 853 Operating profit
-34.9% -15.3%
47.3 55.8 72.7 OPM %
-290 bps -101 bps
5.6% 6.6% 8.5% Other income
-57.3% +8.1%
5.9 5.4 13.8 Net profit?
to loss to loss -12.4 19.3 41.1 PAT margin %
-629 bps -376 bps
-1.5% 2.3% 4.8% EPS (₹)
to loss to loss -0.67 1.05 2.23
Quality of profit
Pre-tax profit −₹12.8 Cr: core business ₹15.7 Cr, other income ₹5.9 Cr, exceptional & other items −₹34.4 Cr.
Core profit YoY: -65.1%
Cash & debt
FY25 cash from operations ₹43.0 Cr:
20% of FY25 net profit of ₹219 Cr.
Borrowings ₹195 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹830 ₹841
+1.4% in line Net profit ₹20.6 −₹12.4
-160.3% below
M Cap ₹5,285 Cr
P/E 13.9
PEG 1.74
Profit -87% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+19.6% +4.3%
1,619 1,552 1,354 Net interest income
+12.3% +7.4%
665 619 592 Other income
+38.4% -0.8%
245 247 177 Net profit
-91.0% -86.7%
10.0 75.0 111 EPS (₹)
-91.3% -87.1%
0.92 7.13 10.56 Gross NPA %
-21 bps -28 bps
2.6% 2.9% 2.8% Net NPA %
+0 bps +0 bps
0.9% 0.9% 0.9%
Against its own trend ?
Trend Actual Gap
NII ₹599 ₹665
+10.9% above Net profit ₹76.0 ₹10.0
-86.8% below
M Cap ₹5,240 Cr
P/E 26.2
PEG 2.38
Operating margin expanded 214 bps YoY 44% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.4% -5.7%
768 814 608 Operating profit
+74.0% -18.4%
60.2 73.7 34.6 OPM %
+214 bps -122 bps
7.8% 9.1% 5.7% Other income
+29.3% +48.6%
14.8 10.0 11.5 Net profit?
+71.8% -43.0%
27.2 47.7 15.8 PAT margin %
+94 bps -231 bps
3.5% 5.9% 2.6% EPS (₹)
+71.9% -42.9%
7.84 13.74 4.56
Quality of profit
Pre-tax profit ₹33.6 Cr: core business ₹18.7 Cr, other income ₹14.8 Cr.
Core profit YoY: —
· reported profit +71.8%
Cash & debt
FY25 cash from operations ₹176 Cr:
197% of FY25 net profit of ₹89.4 Cr.
Borrowings ₹849 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹761 ₹768
+0.9% in line Net profit ₹28.7 ₹27.2
-5.2% in line
M Cap ₹5,238 Cr
P/E 25.8
PEG 0.22
Profit -73% below its own trend Operating margin contracted 1303 bps YoY FY25 operating cash flow was only 5% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.4% -15.6%
559 662 653 Operating profit
-61.7% -56.2%
59.0 135 154 OPM %
-1303 bps -979 bps
10.6% 20.4% 23.6% Other income
+100.0% +33.3%
8.0 6.0 4.0 Net profit?
-69.2% -64.5%
32.0 90.2 104 PAT margin %
-1021 bps -790 bps
5.7% 13.6% 15.9% EPS (₹)
-70.3% -65.0%
2.57 7.35 8.66
Quality of profit
Pre-tax profit ₹41.8 Cr: core business ₹33.9 Cr, other income ₹8.0 Cr.
Core profit YoY: -75.3%
· reported profit -69.2%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
5% of FY25 net profit of ₹408 Cr.
Borrowings ₹170 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹714 ₹559
-21.8% below Net profit ₹118 ₹32.0
-72.9% below
M Cap ₹5,229 Cr
P/E 14.1
PEG 0.88
Profit -29% below its own trend Exceptional items of ₹22.8 Cr in the quarter Core business grew faster than reported profit (core profit +6%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.6% +5.3%
1,018 967 920 Operating profit
+8.2% +12.9%
133 117 123 OPM %
-28 bps +88 bps
13.0% 12.1% 13.3% Other income
-28.4% -4.5%
24.4 25.5 34.0 Net profit?
-21.8% -9.3%
76.1 84.0 97.3 PAT margin %
-309 bps -120 bps
7.5% 8.7% 10.6% EPS (₹)
-22.1% -10.7%
15.50 17.35 19.89
Quality of profit
Pre-tax profit ₹102 Cr: core business ₹101 Cr, other income ₹24.4 Cr, exceptional & other items −₹22.9 Cr.
Core profit YoY: +6.3%
· reported profit -21.8%
Cash & debt
FY25 cash from operations ₹395 Cr:
111% of FY25 net profit of ₹357 Cr.
Borrowings ₹467 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,033 ₹1,018
-1.5% in line Net profit ₹107 ₹76.1
-28.8% below
M Cap ₹5,222 Cr
P/E 8.2
PEG 1.65
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+25.7% -1.9%
1,430 1,458 1,138 Net interest income
+20.8% +7.1%
453 423 375 Other income
+26.0% -20.9%
276 349 219 Net profit
+0.7% -4.4%
153 160 152 EPS (₹)
+0.7% -4.8%
8.80 9.24 8.74 Gross NPA %
+38 bps +15 bps
2.0% 1.8% 1.6% Net NPA %
+3 bps +15 bps
0.7% 0.5% 0.6%
Against its own trend ?
Trend Actual Gap
NII ₹380 ₹453
+19.2% above Net profit ₹168 ₹153
-9.0% in line
M Cap ₹5,218 Cr
P/E 12.6
PEG —
Profit +133% above its own trend Operating margin expanded 145 bps YoY 40% 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
+13.6% -0.2%
1,074 1,076 945 Operating profit
+84.8% -21.3%
40.4 51.4 21.9 OPM %
+145 bps -101 bps
3.8% 4.8% 2.3% Other income
+204.7% +35.0%
19.5 14.5 6.4 Net profit?
+204.1% -6.5%
37.9 40.6 12.5 PAT margin %
+221 bps -24 bps
3.5% 3.8% 1.3% EPS (₹)
+203.8% -6.6%
5.53 5.92 1.82
Quality of profit
Pre-tax profit ₹48.6 Cr: core business ₹29.0 Cr, other income ₹19.5 Cr.
Core profit YoY: +234.2%
· reported profit +204.1%
Against its own trend ?
Trend Actual Gap
Sales ₹966 ₹1,074
+11.1% above Net profit ₹16.3 ₹37.9
+132.6% above
M Cap ₹5,209 Cr
P/E 14.6
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-0.4%
1,106 1,110 Operating profit
-12.8%
205 235 OPM %
-265 bps
18.5% 21.2% Other income
+27.2%
20.2 15.9 Net profit?
-23.6%
98.1 128 PAT margin %
-270 bps
8.9% 11.6% EPS (₹)
-29.2%
2.71 3.83
Quality of profit
Pre-tax profit ₹143 Cr: core business ₹128 Cr, other income ₹20.2 Cr, exceptional & other items −₹5.6 Cr.
M Cap ₹5,197 Cr
P/E 23.7
PEG 1.48
Into loss: a profit a year ago Profit -102% below its own trend Operating margin contracted 827 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.7% -30.3%
238 341 204 Operating profit
-59.1% -79.2%
10.6 51.3 26.0 OPM %
-827 bps -1055 bps
4.5% 15.0% 12.7% Other income
+25.8% -31.3%
5.0 7.3 4.0 Net profit?
to loss to loss -0.1 33.4 12.0 PAT margin %
-595 bps -985 bps
-0.1% 9.8% 5.9% EPS (₹)
to loss to loss -0.22 46.50 16.60
Quality of profit
Pre-tax profit −₹0.1 Cr: core business −₹5.1 Cr, other income ₹5.0 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹130 Cr:
88% of FY25 net profit of ₹147 Cr.
Borrowings ₹218 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹230 ₹238
+3.7% in line Net profit ₹9.3 −₹0.1
-101.6% below
M Cap ₹5,192 Cr
P/E 1030.2
PEG —
Operating margin contracted 252 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.2% +17.5%
476 405 432 Operating profit
to loss loss narrowed -1.0 -35.7 10.0 OPM %
-252 bps +861 bps
-0.2% -8.8% 2.3% Other income
to loss to loss -6.0 11.2 4.0 Net profit
loss widened loss narrowed -19.0 -40.0 -3.0 PAT margin %
-330 bps +587 bps
-4.0% -9.9% -0.7% EPS (₹)
loss widened loss narrowed -7.00 -14.70 -1.23
Quality of profit
Pre-tax profit −₹25.0 Cr: core business −₹20.0 Cr, other income −₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
M Cap ₹5,166 Cr
P/E 21.2
PEG 0.66
Turnaround: profit against a loss a year ago Operating margin expanded 1027 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
-8.1% -3.7%
925 961 1,007 Operating profit
from loss -54.7%
67.0 148 -30.5 OPM %
+1027 bps -814 bps
7.2% 15.4% -3.0% Other income
+28.1% +274.8%
76.0 20.3 59.4 Net profit?
from loss +79.8%
85.9 47.8 -38.9 PAT margin %
+1315 bps +432 bps
9.3% 5.0% -3.9% EPS (₹)
from loss +57.7%
0.41 0.26 -0.23
Quality of profit
Pre-tax profit ₹15.0 Cr: core business −₹61.0 Cr, other income ₹76.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹134 Cr:
51% of FY25 net profit of ₹262 Cr.
Borrowings ₹1,679 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹688 ₹925
+34.5% above
M Cap ₹5,154 Cr
P/E 15.5
PEG 0.86
Profit +11% above its own trend Operating margin contracted 162 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+27.8% +12.0%
882 787 690 Operating profit
+12.6% +6.4%
106 100 94.5 OPM %
-162 bps -63 bps
12.1% 12.7% 13.7% Other income
+5.6% +22.5%
22.1 18.0 20.9 Net profit?
+7.8% +8.5%
81.4 75.0 75.4 PAT margin %
-171 bps -30 bps
9.2% 9.5% 10.9% EPS (₹)
+10.6% +8.9%
14.17 13.01 adj. 12.81
EPS restated for the 1:1 bonus of Jul 2025: Dec 2024 ₹25.63 to ₹12.81.
Quality of profit
Pre-tax profit ₹107 Cr: core business ₹88.4 Cr, other income ₹22.1 Cr, exceptional & other items −₹3.2 Cr.
Core profit YoY: +11.7%
· reported profit +7.8%
Cash & debt
FY25 cash from operations ₹271 Cr:
86% of FY25 net profit of ₹315 Cr.
Borrowings ₹52.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹749 ₹882
+17.7% above Net profit ₹73.5 ₹81.4
+10.7% above
M Cap ₹5,117 Cr
P/E 44.2
PEG 0.98
Turnaround: profit against a loss a year ago Operating margin expanded 692 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.5% +19.3%
1,380 1,157 1,476 Operating profit
from loss from loss 73.0 -53.9 -24.0 OPM %
+692 bps +995 bps
5.3% -4.7% -1.6% Other income
— -48.1%
2.7 5.1 0.0 Net profit?
from loss from loss 14.7 -105 -102 PAT margin %
+798 bps +1016 bps
1.1% -9.1% -6.9% EPS (₹)
from loss from loss 0.12 -0.83 -0.80
Quality of profit
Pre-tax profit ₹14.5 Cr: core business ₹11.9 Cr, other income ₹2.7 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹280 Cr.
Borrowings ₹3,575 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,291 ₹1,380
+7.0% above
M Cap ₹5,069 Cr
P/E 18.9
PEG —
Profit -45% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.2% +3.8%
827 797 825 Operating profit
+2.4% +12.6%
170 151 166 OPM %
+44 bps +161 bps
20.6% 18.9% 20.1% Other income
-33.3% -42.9%
4.0 7.0 6.0 Net profit
+10.2% +30.0%
65.0 50.0 59.0 PAT margin %
+71 bps +159 bps
7.9% 6.3% 7.2% EPS (₹)
+8.8% +29.8%
3.70 2.85 3.40
Quality of profit
Pre-tax profit ₹84.0 Cr: core business ₹80.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +3.9%
· reported profit +10.2%
Cash & debt
FY25 cash from operations ₹558 Cr:
307% of FY25 net profit of ₹182 Cr.
Borrowings ₹1,226 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹857 ₹827
-3.5% in line Net profit ₹118 ₹65.0
-44.9% below
M Cap ₹5,067 Cr
P/E 17.9
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+37.3%
1,257 916 Operating profit
-13.4%
153 177 OPM %
-714 bps
12.2% 19.3% Other income
+185.5%
11.4 4.0 Net profit?
-16.9%
98.7 119 PAT margin %
-512 bps
7.9% 13.0% EPS (₹)
-20.7%
8.41 10.60
Quality of profit
Pre-tax profit ₹127 Cr: core business ₹116 Cr, other income ₹11.4 Cr.
M Cap ₹5,020 Cr
P/E 36.2
PEG 3.29
Profit -50% below its own trend Operating margin contracted 780 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-18.2% -17.7%
93.7 114 115 Operating profit
-35.8% -4.8%
26.8 28.1 41.6 OPM %
-780 bps +385 bps
28.6% 24.7% 36.4% Other income
+12.1% +0.8%
10.5 10.4 9.4 Net profit?
-42.0% +1.3%
18.8 18.5 32.3 PAT margin %
-819 bps +375 bps
20.0% 16.3% 28.2% EPS (₹)
-42.4% +3.3%
3.43 3.32 5.96
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹18.7 Cr, other income ₹10.5 Cr, exceptional & other items −₹2.2 Cr.
Core profit YoY: -46.9%
· reported profit -42.0%
Cash & debt
FY25 cash from operations ₹113 Cr:
77% of FY25 net profit of ₹148 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹93.7
-33.0% below Net profit ₹37.5 ₹18.8
-49.9% below
M Cap ₹5,019 Cr
P/E 33.4
PEG 11.14
Turnaround: profit against a loss a year ago Operating margin expanded 1545 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+236.2% +66.0%
1,069 644 318 Operating profit
— +110.6%
219 104 16.0 OPM %
+1545 bps +434 bps
20.5% 16.1% 5.0% Other income
+105.9% +84.2%
35.0 19.0 17.0 Net profit?
from loss from loss 58.0 -43.0 -93.0 PAT margin %
+3467 bps +1210 bps
5.4% -6.7% -29.2% EPS (₹)
from loss from loss 2.53 -1.76 -3.90
Quality of profit
Pre-tax profit ₹79.0 Cr: core business ₹43.0 Cr, other income ₹35.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹531 Cr.
Borrowings ₹4,332 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹220 ₹1,069
+385.3% above
M Cap ₹4,982 Cr
P/E 33.1
PEG 2.36
Profit +15% above its own trend Operating margin expanded 235 bps YoY Exceptional items of ₹-7.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.7% +0.8%
328 325 279 Operating profit
+34.9% +12.9%
60.5 53.6 44.8 OPM %
+235 bps +197 bps
18.4% 16.5% 16.1% Other income
-41.9% -74.6%
3.6 14.3 6.3 Net profit?
+32.7% -29.2%
29.3 41.4 22.1 PAT margin %
+101 bps -379 bps
8.9% 12.7% 7.9% EPS (₹)
+34.1% -29.6%
2.95 4.19 2.20
Quality of profit
Pre-tax profit ₹41.0 Cr: core business ₹44.4 Cr, other income ₹3.6 Cr, exceptional & other items −₹7.0 Cr.
Core profit YoY: +48.6%
· reported profit +32.7%
Cash & debt
FY25 cash from operations ₹84.0 Cr:
102% of FY25 net profit of ₹82.7 Cr.
Borrowings ₹187 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹300 ₹328
+9.2% above Net profit ₹25.5 ₹29.3
+15.1% above
M Cap ₹4,982 Cr
P/E 9.4
PEG 0.23
Profit +691% above its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.3% -2.5%
1,029 1,055 925 Operating profit
+18.0% -45.2%
85.0 155 72.0 OPM %
+47 bps -644 bps
8.3% 14.7% 7.8% Other income
-100.0% -100.0%
0.0 0.9 1.1 Net profit?
+938.2% —
433 38.0 41.7 PAT margin %
+3754 bps +3845 bps
42.1% 3.6% 4.5% EPS (₹)
+3.8% +12.7%
2.76 2.45 2.66
Quality of profit
Pre-tax profit ₹56.0 Cr: core business ₹55.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -3.5%
· reported profit +938.2%
Cash & debt
FY25 cash from operations −₹151 Cr:
-103% of FY25 net profit of ₹146 Cr.
Borrowings ₹608 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,204 ₹1,029
-14.6% below Net profit ₹54.7 ₹433
+690.6% above
M Cap ₹4,971 Cr
P/E 165.6
PEG 4.14
Operating margin expanded 472 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-109 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.3% -0.6%
1,844 1,855 1,821 Operating profit
+168.6% -25.0%
140 186 52.0 OPM %
+472 bps -246 bps
7.6% 10.0% 2.9% Other income
-92.9% -37.9%
6.4 10.4 91.0 Net profit?
+8.5% —
49.9 1.6 46.0 PAT margin %
+18 bps +262 bps
2.7% 0.1% 2.5% EPS (₹)
+26.0% —
1.21 0.06 0.96
Quality of profit
Pre-tax profit ₹78.5 Cr: core business −₹39.6 Cr, other income ₹6.4 Cr, exceptional & other items ₹112 Cr.
Core profit YoY: loss narrowed
· reported profit +8.5%
Cash & debt
FY25 cash from operations ₹737 Cr:
1635% of FY25 net profit of ₹45.1 Cr.
Borrowings ₹1,978 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,952 ₹1,844
-5.5% below
M Cap ₹4,962 Cr
P/E 48.2
PEG —
Profit -79% below its own trend Operating margin contracted 266 bps YoY 75% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-0.9% -0.6%
979 984 988 Operating profit
-26.0% +19.0%
76.9 64.6 104 OPM %
-266 bps +130 bps
7.9% 6.6% 10.5% Other income
+50.0% +2.9%
19.5 19.0 13.0 Net profit?
-71.0% +80.8%
14.6 8.1 50.3 PAT margin %
-360 bps +67 bps
1.5% 0.8% 5.1% EPS (₹)
-71.6% +81.8%
2.00 1.10 7.04
Quality of profit
Pre-tax profit ₹26.1 Cr: core business ₹6.6 Cr, other income ₹19.5 Cr.
Core profit YoY: -87.8%
· reported profit -71.0%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
36% of FY25 net profit of ₹159 Cr.
Borrowings ₹845 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,141 ₹979
-14.2% below Net profit ₹68.5 ₹14.6
-78.7% below
₹ Cr
Dec 2025
Sales
2,202 Operating profit
97.0 OPM %
4.4% Other income
12.0 Net profit?
48.0 PAT margin %
2.2% EPS (₹)
2.03
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 ₹64.0 Cr: core business ₹52.0 Cr, other income ₹12.0 Cr.
Cash & debt
FY25 cash from operations −₹92.0 Cr.
Borrowings ₹925 Cr at Mar 2025.
M Cap ₹4,951 Cr
P/E 19.6
PEG 2.80
Profit +137% above its own trend Exceptional items of ₹-6.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.2% +2.6%
3,930 3,832 4,019 Operating profit
+28.4% +3.8%
79.6 76.7 62.0 OPM %
+48 bps +2 bps
2.0% 2.0% 1.5% Other income
from loss -61.7%
1.5 4.0 -1.0 Net profit?
+31.2% +6.4%
55.1 51.8 42.0 PAT margin %
+36 bps +5 bps
1.4% 1.4% 1.0% EPS (₹)
+31.8% +6.6%
3.69 3.46 2.80
Quality of profit
Pre-tax profit ₹51.1 Cr: core business ₹56.4 Cr, other income ₹1.5 Cr, exceptional & other items −₹6.8 Cr.
Core profit YoY: +31.0%
· reported profit +31.2%
Cash & debt
FY25 cash from operations ₹380 Cr:
250% of FY25 net profit of ₹152 Cr.
Borrowings ₹113 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,983 ₹3,930
+31.7% above Net profit ₹23.2 ₹55.1
+137.2% above
M Cap ₹4,949 Cr
P/E 24.9
PEG 2.77
26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.0% +7.9%
278 258 228 Operating profit
+23.5% +10.7%
62.1 56.1 50.3 OPM %
+27 bps +56 bps
22.4% 21.8% 22.1% Other income
+19.9% -5.3%
17.6 18.6 14.7 Net profit?
+19.1% +11.0%
50.8 45.7 42.6 PAT margin %
-44 bps +51 bps
18.3% 17.8% 18.7% EPS (₹)
+19.7% +13.0%
2.43 2.15 2.03
Quality of profit
Pre-tax profit ₹66.8 Cr: core business ₹49.2 Cr, other income ₹17.6 Cr.
Core profit YoY: +18.7%
· reported profit +19.1%
Cash & debt
FY25 cash from operations ₹130 Cr:
75% of FY25 net profit of ₹173 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹304 ₹278
-8.7% below Net profit ₹48.1 ₹50.8
+5.6% in line
M Cap ₹4,946 Cr
P/E 40.6
PEG 0.83
Profit +150% above its own trend Operating margin contracted 187 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+27.9% -9.3%
78.0 86.0 61.0 Operating profit
+18.8% +111.1%
19.0 9.0 16.0 OPM %
-187 bps +1389 bps
24.4% 10.5% 26.2% Other income
+91.7% -47.7%
23.0 44.0 12.0 Net profit?
+400.0% -10.7%
25.0 28.0 5.0 PAT margin %
+2385 bps -51 bps
32.1% 32.6% 8.2% EPS (₹)
+500.0% -13.2%
0.66 0.76 0.11
Quality of profit
Pre-tax profit ₹39.0 Cr: core business ₹17.0 Cr, other income ₹23.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +400.0%
Cash & debt
FY25 cash from operations ₹60.0 Cr:
230% of FY25 net profit of ₹26.1 Cr.
Borrowings ₹181 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.6 ₹78.0
+8.9% above Net profit ₹10.0 ₹25.0
+150.0% above
M Cap ₹4,928 Cr
P/E 22.0
PEG 0.35
Profit -12% below its own trend Operating margin expanded 213 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+43.1% +0.2%
221 221 155 Operating profit
+50.1% +9.4%
100 91.6 66.7 OPM %
+213 bps +378 bps
45.2% 41.4% 43.1% Other income
+16.2% -53.4%
9.9 21.3 8.5 Net profit?
+49.8% +0.2%
71.3 71.2 47.6 PAT margin %
+146 bps -2 bps
32.2% 32.2% 30.8% EPS (₹)
+56.1% +0.9%
10.63 10.53 6.81
Quality of profit
Pre-tax profit ₹90.1 Cr: core business ₹80.2 Cr, other income ₹9.9 Cr.
Core profit YoY: +51.1%
· reported profit +49.8%
Cash & debt
FY25 cash from operations ₹210 Cr.
Borrowings ₹205 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹240 ₹221
-7.5% below Net profit ₹81.2 ₹71.3
-12.1% below
M Cap ₹4,923 Cr
P/E 26.2
PEG 1.25
Profit +11% above its own trend Operating margin expanded 262 bps YoY Exceptional items of ₹15.9 Cr in the quarter Core business grew faster than reported profit (core profit +129%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.7% +4.3%
1,053 1,009 887 Operating profit
+58.2% +24.3%
111 89.0 69.9 OPM %
+262 bps +169 bps
10.5% 8.8% 7.9% Other income
+0.2% -91.9%
1.1 14.0 1.1 Net profit?
+39.0% +29.3%
46.5 36.0 33.5 PAT margin %
+65 bps +85 bps
4.4% 3.6% 3.8% EPS (₹)
+39.0% +30.6%
49.79 38.13 35.82
Quality of profit
Pre-tax profit ₹54.8 Cr: core business ₹53.6 Cr, other income ₹1.1 Cr.
Core profit YoY: +128.8%
· reported profit +39.0%
Cash & debt
FY25 cash from operations ₹212 Cr:
152% of FY25 net profit of ₹140 Cr.
Borrowings ₹888 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,103 ₹1,053
-4.5% in line Net profit ₹41.9 ₹46.5
+11.0% above
M Cap ₹4,917 Cr
P/E 50.6
PEG —
Profit -43% below its own trend Operating margin contracted 193 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.6% -4.6%
85.9 90.0 93.0 Operating profit
-14.0% -6.8%
22.4 24.0 26.0 OPM %
-193 bps -64 bps
26.0% 26.7% 28.0% Other income
-20.5% -2.8%
8.8 9.0 11.0 Net profit
-35.6% -33.0%
16.1 24.0 25.0 PAT margin %
-815 bps -794 bps
18.7% 26.7% 26.9% EPS (₹)
-36.8% -33.5%
6.52 9.81 10.31
Quality of profit
Pre-tax profit ₹29.6 Cr: core business ₹20.9 Cr, other income ₹8.8 Cr.
Core profit YoY: -16.4%
· reported profit -35.6%
Cash & debt
FY25 cash from operations ₹75.0 Cr:
75% of FY25 net profit of ₹100 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹96.3 ₹85.9
-10.8% below Net profit ₹28.5 ₹16.1
-43.5% below
M Cap ₹4,914 Cr
P/E 13.6
PEG —
Profit -38% below its own trend Operating margin contracted 196 bps YoY Exceptional items of ₹-5.1 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.8% +5.3%
634 602 658 Operating profit
-11.1% +0.5%
150 150 169 OPM %
-196 bps -113 bps
23.7% 24.9% 25.7% Other income
-76.7% -23.4%
3.6 4.7 15.5 Net profit?
-21.1% -6.0%
71.5 76.0 90.5 PAT margin %
-247 bps -135 bps
11.3% 12.6% 13.7% EPS (₹)
-21.1% -6.0%
11.04 11.75 13.99
Quality of profit
Pre-tax profit ₹94.5 Cr: core business ₹95.9 Cr, other income ₹3.6 Cr, exceptional & other items −₹5.1 Cr.
Core profit YoY: -8.7%
· reported profit -21.1%
Cash & debt
FY25 cash from operations ₹429 Cr.
Borrowings ₹553 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹702 ₹634
-9.7% below Net profit ₹116 ₹71.5
-38.2% below
M Cap ₹4,899 Cr
P/E 12.3
PEG 0.54
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+22.4% +4.4%
503 482 411 Net interest income
+28.4% +7.8%
276 256 215 Other income
to loss to loss -4.0 2.0 1.0 Net profit?
+16.2% +2.2%
93.0 91.0 80.0 EPS (₹)
+16.0% +2.0%
5.08 4.98 4.38 Gross NPA %
+15 bps +3 bps
2.6% 2.5% 2.4% Net NPA %
+10 bps +3 bps
1.7% 1.7% 1.6%
Against its own trend ?
Trend Actual Gap
NII ₹287 ₹276
-3.7% in line Net profit ₹95.1 ₹93.0
-2.2% 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, 22:42 IST
