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Q3 FY26 quarterly results (October-December 2025)
4,316 companies have declared Q3 FY26 results so far, the latest on 15 Sep 2026.
Across the 3,727 non-financial companies with a year-ago quarter to compare, sales grew +15.1% and net profit +14.8% year on year, and the combined operating margin narrowed 25 bps to 14.1%.
For the 146 banks and lenders, net interest income grew +8.0% and net profit +10.5%.
56% of companies grew net profit; 416 turned a loss into a profit; 37% beat their own profit trend and 48% fell short of it.
4316 declared
Latest results
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The next results season has started: 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 ₹2,325 Cr
P/E 0.5
PEG 0.01
Turnaround: profit against a loss a year ago Operating margin expanded 746 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹20.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.6% -31.1%
4,297 6,235 5,033 Operating profit
+38.2% -20.6%
838 1,055 606 OPM %
+746 bps +257 bps
19.5% 16.9% 12.0% Other income
from loss +802.1%
673 74.6 -2,974 Net profit?
from loss -99.4%
11.1 1,911 -3,186 PAT margin %
+6356 bps -3039 bps
0.3% 30.7% -63.3% EPS (₹)
from loss -99.4%
0.27 47.37 -83.26
Quality of profit
Pre-tax profit ₹307 Cr: core business −₹386 Cr, other income ₹673 Cr, exceptional & other items ₹20.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹3,657 Cr:
71% of FY25 net profit of ₹5,162 Cr.
Borrowings ₹6,361 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10,066 ₹4,297
-57.3% below
M Cap ₹2,320 Cr
P/E 14.3
PEG 0.51
Profit -22% below its own trend Operating margin contracted 710 bps YoY FY25 operating cash flow was only 6% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.3% -16.9%
182 219 156 Operating profit
-5.8% -5.1%
55.0 58.0 58.4 OPM %
-710 bps +375 bps
30.2% 26.5% 37.3% Other income
-43.3% -13.0%
2.0 2.3 3.5 Net profit?
-20.7% -7.8%
28.0 30.4 35.3 PAT margin %
-720 bps +152 bps
15.4% 13.9% 22.6% EPS (₹)
— -15.8%
1.30 adj. 1.549.96
EPS restated for the ₹10 to ₹2 split of Jan 2026: Sep 2025 ₹7.72 to ₹1.54. No EPS growth against Dec 2024: ₹10 to ₹2 split in Jan 2026.
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹40.0 Cr, other income ₹2.0 Cr.
Core profit YoY: -8.1%
· reported profit -20.7%
Cash & debt
FY25 cash from operations ₹8.0 Cr:
6% of FY25 net profit of ₹129 Cr.
Borrowings ₹676 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹182
+25.6% above Net profit ₹36.0 ₹28.0
-22.2% below
M Cap ₹2,316 Cr
P/E 16.3
PEG 0.71
37% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -18%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.3% +4.0%
943 907 840 Operating profit
+1.2% -52.2%
82.6 173 81.6 OPM %
-96 bps -1030 bps
8.8% 19.1% 9.7% Other income
+137.1% -4.5%
16.0 16.7 6.7 Net profit?
+10.1% +4.8%
33.5 32.0 30.5 PAT margin %
-7 bps +3 bps
3.6% 3.5% 3.6% EPS (₹)
+10.7% +4.2%
2.49 2.39 2.25
Quality of profit
Pre-tax profit ₹43.1 Cr: core business ₹27.1 Cr, other income ₹16.0 Cr.
Core profit YoY: -18.0%
· reported profit +10.1%
Cash & debt
FY25 cash from operations ₹256 Cr:
214% of FY25 net profit of ₹120 Cr.
Borrowings ₹812 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹958 ₹943
-1.5% in line Net profit ₹36.7 ₹33.5
-8.7% in line
M Cap ₹2,309 Cr
P/E 11.0
PEG 0.27
Profit +40% above its own trend Operating margin expanded 513 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.1% -1.1%
636 643 643 Operating profit
+55.2% -45.5%
90.0 165 58.0 OPM %
+513 bps -1151 bps
14.2% 25.7% 9.0% Other income
to loss to loss -4.0 12.0 3.0 Net profit
+180.0% -42.9%
28.0 49.0 10.0 PAT margin %
+285 bps -322 bps
4.4% 7.6% 1.6% EPS (₹)
+175.5% -43.5%
1.35 2.39 0.49
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹40.0 Cr, other income −₹4.0 Cr.
Core profit YoY: +185.7%
· reported profit +180.0%
Cash & debt
FY25 cash from operations ₹205 Cr:
225% of FY25 net profit of ₹91.0 Cr.
Borrowings ₹70.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹679 ₹636
-6.3% below Net profit ₹20.0 ₹28.0
+40.0% above
M Cap ₹2,306 Cr
P/E 29.0
PEG —
Profit +177% above its own trend Operating margin expanded 147 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+38.3% +2.5%
302 294 218 Operating profit
+55.3% +0.9%
40.4 40.0 26.0 OPM %
+147 bps -21 bps
13.4% 13.6% 11.9% Other income
— -63.2%
0.5 1.4 0.0 Net profit?
+129.9% +0.7%
20.7 20.6 9.0 PAT margin %
+273 bps -12 bps
6.9% 7.0% 4.1% EPS (₹)
+123.0% +0.7%
4.08 4.05 1.83
Quality of profit
Pre-tax profit ₹26.7 Cr: core business ₹26.2 Cr, other income ₹0.5 Cr.
Core profit YoY: +118.1%
· reported profit +129.9%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
98% of FY25 net profit of ₹58.3 Cr.
Borrowings ₹237 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹236 ₹302
+27.5% above Net profit ₹7.5 ₹20.7
+177.0% above
M Cap ₹2,303 Cr
P/E 17.4
PEG —
Profit +15% above its own trend Operating margin expanded 451 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.1% +7.9%
375 348 375 Operating profit
+32.3% -37.6%
69.4 111 52.4 OPM %
+451 bps -1347 bps
18.5% 32.0% 14.0% Other income
+57.1% -46.9%
0.9 1.6 0.6 Net profit?
+26.0% +3.1%
32.0 31.0 25.4 PAT margin %
+175 bps -40 bps
8.5% 8.9% 6.8% EPS (₹)
+25.9% +2.3%
7.44 7.27 5.91
Quality of profit
Pre-tax profit ₹47.4 Cr: core business ₹46.5 Cr, other income ₹0.9 Cr.
Core profit YoY: +35.8%
· reported profit +26.0%
Cash & debt
FY25 cash from operations ₹92.0 Cr:
86% of FY25 net profit of ₹107 Cr.
Borrowings ₹259 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹359 ₹375
+4.5% in line Net profit ₹27.9 ₹32.0
+14.6% above
M Cap ₹2,300 Cr
P/E 11.2
PEG 0.59
Operating margin expanded 177 bps YoY Core business grew faster than reported profit (core profit +42%) FY25 operating cash flow was only 19% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.5% +53.1%
538 352 482 Operating profit
+36.4% +404.9%
52.0 10.3 38.1 OPM %
+177 bps +674 bps
9.7% 2.9% 7.9% Other income
-2.0% -52.2%
13.0 27.2 13.3 Net profit?
+17.8% +66.7%
44.0 26.4 37.3 PAT margin %
+44 bps +67 bps
8.2% 7.5% 7.7% EPS (₹)
+13.7% +61.0%
24.99 15.52 21.97
Quality of profit
Pre-tax profit ₹56.0 Cr: core business ₹43.0 Cr, other income ₹13.0 Cr.
Core profit YoY: +42.1%
· reported profit +17.8%
Cash & debt
FY25 cash from operations ₹30.0 Cr:
19% of FY25 net profit of ₹154 Cr.
Borrowings ₹22.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹432 ₹538
+24.7% above Net profit ₹40.3 ₹44.0
+9.1% in line
Into loss: a profit a year ago Profit -126% below its own trend Operating margin contracted 1503 bps YoY FY25 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-34.1% +49.0%
182 122 276 Operating profit
-84.4% from loss 8.5 -16.0 54.4 OPM %
-1503 bps +1773 bps
4.7% -13.1% 19.7% Other income
-37.6% -83.2%
5.0 29.9 8.0 Net profit?
to loss loss widened -17.0 -6.2 40.5 PAT margin %
-2400 bps -425 bps
-9.3% -5.1% 14.7% EPS (₹)
to loss loss widened -0.47 -0.08 2.06
Quality of profit
Pre-tax profit −₹12.4 Cr: core business −₹17.4 Cr, other income ₹5.0 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹54.0 Cr:
40% of FY25 net profit of ₹136 Cr.
Borrowings ₹1,082 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹375 ₹182
-51.5% below Net profit ₹65.3 −₹17.0
-126.0% below
M Cap ₹2,272 Cr
P/E 90.5
PEG —
Profit -77% below its own trend Operating margin contracted 1435 bps YoY 54% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-48.6% -76.1%
75.4 315 147 Operating profit
-63.2% +19.8%
27.3 22.8 74.0 OPM %
-1435 bps +2894 bps
36.2% 7.2% 50.5% Other income
+1.4% +55.3%
3.7 2.4 3.7 Net profit?
-80.9% +192.4%
8.3 2.8 43.3 PAT margin %
-1859 bps +1008 bps
11.0% 0.9% 29.6% EPS (₹)
-80.8% +200.0%
0.63 0.21 3.28
Quality of profit
Pre-tax profit ₹6.9 Cr: core business ₹3.1 Cr, other income ₹3.7 Cr.
Core profit YoY: -93.6%
· reported profit -80.9%
Cash & debt
FY25 cash from operations ₹161 Cr:
109% of FY25 net profit of ₹147 Cr.
Borrowings ₹121 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹75.4
-26.3% below Net profit ₹35.8 ₹8.3
-76.9% below
M Cap ₹2,269 Cr
P/E 24.2
PEG 2.20
Profit -87% below its own trend Operating margin contracted 276 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+29.0% +3.0%
240 233 186 Operating profit
+12.5% +12.5%
45.0 40.0 40.0 OPM %
-276 bps +158 bps
18.8% 17.2% 21.5% Other income
to loss to loss -7.0 2.0 4.0 Net profit?
-86.7% -50.0%
4.0 8.0 30.0 PAT margin %
-1446 bps -177 bps
1.7% 3.4% 16.1% EPS (₹)
-86.6% -50.4%
0.56 1.13 4.19
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹16.0 Cr, other income −₹7.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -33.3%
· reported profit -86.7%
Cash & debt
FY25 cash from operations ₹138 Cr:
150% of FY25 net profit of ₹92.0 Cr.
Borrowings ₹204 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹211 ₹240
+13.8% above Net profit ₹30.9 ₹4.0
-87.0% below
M Cap ₹2,262 Cr
P/E 28.9
PEG 0.60
Profit -15% below its own trend Operating margin contracted 3360 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
-4.3% -57.9%
88.0 209 92.0 Operating profit
-93.9% -93.5%
2.0 31.0 33.0 OPM %
-3360 bps -1256 bps
2.3% 14.8% 35.9% Other income
+57.1% -20.0%
44.0 55.0 28.0 Net profit?
+70.7% +809.1%
23.0 2.5 13.5 PAT margin %
+1150 bps +2493 bps
26.1% 1.2% 14.6% EPS (₹)
-2.5% -7.1%
1.57 1.69 1.61
Quality of profit
Pre-tax profit ₹20.6 Cr: core business −₹22.0 Cr, other income ₹44.0 Cr, exceptional & other items −₹1.4 Cr.
Core profit YoY: loss widened
· reported profit +70.7%
Cash & debt
FY25 cash from operations −₹580 Cr:
-760% of FY25 net profit of ₹76.3 Cr.
Borrowings ₹793 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹169 ₹88.0
-47.9% below Net profit ₹26.9 ₹23.0
-14.6% below
M Cap ₹2,259 Cr
P/E 17.5
PEG 0.21
Profit +14% above its own trend Operating margin expanded 163 bps YoY FY25 operating cash flow was only 23% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+47.7% +15.1%
498 432 337 Operating profit
+75.7% +15.8%
50.9 44.0 29.0 OPM %
+163 bps +5 bps
10.2% 10.2% 8.6% Other income
+141.2% -7.9%
8.5 9.2 3.5 Net profit?
+82.2% +2.8%
36.0 35.0 19.7 PAT margin %
+137 bps -87 bps
7.2% 8.1% 5.9% EPS (₹)
+66.5% +2.7%
2.68 2.61 1.61
Quality of profit
Pre-tax profit ₹48.2 Cr: core business ₹39.7 Cr, other income ₹8.5 Cr.
Core profit YoY: +74.6%
· reported profit +82.2%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
23% of FY25 net profit of ₹87.9 Cr.
Borrowings ₹20.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹495 ₹498
+0.6% in line Net profit ₹31.4 ₹36.0
+14.4% above
Turnaround: profit against a loss a year ago Gross NPA down 132 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+9.5% +20.5%
1,163 965 1,062 Net interest income
— +16.1%
432 372 — Other income
— +85.5%
269 145 — Net profit
from loss from loss 7.0 -116 -211 EPS (₹)
from loss from loss 0.14 -2.25 -4.09 Gross NPA %
-132 bps -290 bps
5.6% 8.5% 7.0% Net NPA %
-24 bps -110 bps
2.7% 3.8% 3.0%
M Cap ₹2,254 Cr
P/E 13.0
PEG 0.52
Profit +390% above its own trend Operating margin expanded 400 bps YoY Core business grew faster than reported profit (core profit +256%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.8% +19.9%
960 801 882 Operating profit
+141.4% from loss 70.0 -31.0 29.0 OPM %
+400 bps +1116 bps
7.3% -3.9% 3.3% Other income
-16.7% +0.0%
10.0 10.0 12.0 Net profit
+145.0% from loss 49.0 -27.0 20.0 PAT margin %
+284 bps +847 bps
5.1% -3.4% 2.3% EPS (₹)
+138.3% from loss 34.48 -18.83 14.47
Quality of profit
Pre-tax profit ₹66.0 Cr: core business ₹57.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +256.2%
· reported profit +145.0%
Cash & debt
FY25 cash from operations ₹66.0 Cr:
57% of FY25 net profit of ₹116 Cr.
Borrowings ₹170 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹871 ₹960
+10.2% above Net profit ₹10.0 ₹49.0
+390.0% above
M Cap ₹2,240 Cr
P/E 50.7
PEG —
Profit -49% below its own trend Operating margin expanded 551 bps YoY Core business grew faster than reported profit (core profit +48%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+4.0% -23.2%
45.9 59.8 44.2 Operating profit
+64.6% -19.8%
6.9 8.6 4.2 OPM %
+551 bps +63 bps
15.0% 14.3% 9.4% Other income
-72.9% -30.9%
0.6 0.9 2.4 Net profit
+2.5% -29.5%
6.5 9.2 6.3 PAT margin %
-20 bps -126 bps
14.1% 15.4% 14.3%
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹5.8 Cr, other income ₹0.6 Cr.
Core profit YoY: +47.7%
· reported profit +2.5%
Against its own trend ?
Trend Actual Gap
Sales ₹88.3 ₹45.9
-48.0% below Net profit ₹12.6 ₹6.5
-48.7% below
M Cap ₹2,239 Cr
P/E 49.4
PEG 0.76
Profit -14% below its own trend Core business grew faster than reported profit (core profit +48%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.2% +8.5%
77.0 71.0 65.7 Operating profit
+20.3% +11.8%
19.0 17.0 15.8 OPM %
+64 bps +73 bps
24.7% 23.9% 24.0% Other income
-57.6% -60.0%
2.0 5.0 4.7 Net profit?
+6.7% -10.0%
9.0 10.0 8.4 PAT margin %
-115 bps -240 bps
11.7% 14.1% 12.8% EPS (₹)
+0.0% -10.8%
0.33 0.37 0.33
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹10.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +47.9%
· reported profit +6.7%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
84% of FY25 net profit of ₹33.4 Cr.
Borrowings ₹47.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.6 ₹77.0
-3.3% in line Net profit ₹10.5 ₹9.0
-13.9% below
M Cap ₹2,235 Cr
P/E 445.0
PEG 8.24
Profit -36% below its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-12.5% -24.9%
196 262 225 Operating profit
-11.5% -11.5%
54.0 61.0 61.0 OPM %
+33 bps +416 bps
27.5% 23.3% 27.2% Other income
-71.4% +100.0%
2.0 1.0 7.0 Net profit
-19.6% -9.9%
40.3 44.7 50.1 PAT margin %
-180 bps +342 bps
20.5% 17.1% 22.3% EPS (₹)
-19.6% -10.0%
2.17 2.41 2.70
Quality of profit
Pre-tax profit ₹53.3 Cr: core business ₹51.0 Cr, other income ₹2.0 Cr.
Core profit YoY: -15.0%
· reported profit -19.6%
Cash & debt
FY25 cash from operations −₹217 Cr:
-151% of FY25 net profit of ₹144 Cr.
Borrowings ₹115 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹263 ₹196
-25.4% below Net profit ₹62.6 ₹40.3
-35.7% below
M Cap ₹2,229 Cr
P/E 37.3
PEG 0.72
Profit +47% above its own trend Operating margin contracted 222 bps YoY Core business grew faster than reported profit (core profit +150%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+155.4% +130.4%
235 102 92.0 Operating profit
+115.4% +250.0%
28.0 8.0 13.0 OPM %
-222 bps +407 bps
11.9% 7.8% 14.1% Other income
+33.3% from loss 4.0 -4.0 3.0 Net profit?
+125.0% from loss 18.0 -4.0 8.0 PAT margin %
-104 bps +1158 bps
7.7% -3.9% 8.7% EPS (₹)
+112.0% from loss 3.90 -0.85 1.84
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹20.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +150.0%
· reported profit +125.0%
Cash & debt
FY25 cash from operations −₹33.0 Cr:
-79% of FY25 net profit of ₹42.0 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹131 ₹235
+79.4% above Net profit ₹12.3 ₹18.0
+46.7% above
M Cap ₹2,222 Cr
P/E 32.5
PEG 3.61
Profit -100% below its own trend Operating margin contracted 554 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.5% +2.0%
490 480 443 Operating profit
-50.6% -4.3%
22.0 23.0 44.5 OPM %
-554 bps -29 bps
4.5% 4.8% 10.0% Other income
+689.1% -24.7%
15.0 19.9 1.9 Net profit?
-100.0% -100.0%
0.0 6.0 5.4 PAT margin %
-122 bps -125 bps
0.0% 1.2% 1.2% EPS (₹)
-95.3% -95.7%
0.02 0.47 0.43
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹14.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit -100.0%
Cash & debt
FY25 cash from operations ₹114 Cr:
633% of FY25 net profit of ₹18.0 Cr.
Borrowings ₹911 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹502 ₹490
-2.5% in line Net profit ₹10.8 ₹0.0
-100.0% below
Gross NPA down 65 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
-56.9% +2.5%
246 239 569 Net interest income
-61.1% +14.4%
126 110 323 Other income
-36.4% +13.5%
11.3 9.9 17.7 Net profit?
loss narrowed loss narrowed -95.0 -249 -440 EPS (₹)
loss narrowed loss narrowed -10.71 -28.09 -49.63 Gross NPA %
-65 bps -140 bps
4.2% 5.6% 4.8% Net NPA %
-8 bps -30 bps
0.9% 1.2% 1.0%
Against its own trend ?
Trend Actual Gap
NII ₹180 ₹126
-30.3% below
M Cap ₹2,217 Cr
P/E 22.5
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-42.2%
270 467 Operating profit
-86.0%
13.0 93.0 OPM %
-1510 bps
4.8% 19.9% Other income
to loss -3.0 1.0 Net profit?
to loss -6.0 58.0 PAT margin %
-1464 bps
-2.2% 12.4% EPS (₹)
to loss -1.38 15.20
Quality of profit
Pre-tax profit −₹8.0 Cr: core business −₹5.0 Cr, other income −₹3.0 Cr.
M Cap ₹2,213 Cr
P/E 9.8
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+26.2%
510 404 Operating profit
+30.1%
95.0 73.0 OPM %
+56 bps
18.6% 18.1% Other income
+50.0%
3.0 2.0 Net profit?
+29.8%
61.0 47.0 PAT margin %
+33 bps
12.0% 11.6% EPS (₹)
+29.9%
3.00 2.31
Quality of profit
Pre-tax profit ₹86.0 Cr: core business ₹83.0 Cr, other income ₹3.0 Cr.
M Cap ₹2,212 Cr
P/E 34.7
PEG 3.16
Profit -36% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.7% +21.0%
200 165 177 Operating profit
+11.5% +40.7%
70.6 50.2 63.3 OPM %
-38 bps +495 bps
35.3% 30.4% 35.7% Other income
+35.5% +49.0%
1.5 1.0 1.1 Net profit?
-24.8% +51.2%
24.2 16.0 32.2 PAT margin %
-603 bps +242 bps
12.1% 9.7% 18.1% EPS (₹)
-25.2% +48.7%
1.13 0.76 1.51
Quality of profit
Pre-tax profit ₹41.2 Cr: core business ₹41.1 Cr, other income ₹1.5 Cr, exceptional & other items −₹1.4 Cr.
Core profit YoY: -7.2%
· reported profit -24.8%
Cash & debt
FY25 cash from operations ₹158 Cr:
188% of FY25 net profit of ₹83.8 Cr.
Borrowings ₹168 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹205 ₹200
-2.2% in line Net profit ₹37.7 ₹24.2
-35.9% below
M Cap ₹2,205 Cr
P/E 40.3
PEG —
Profit -44% below its own trend Operating margin contracted 645 bps YoY Exceptional items of ₹-2.7 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.7% +6.0%
162 153 136 Operating profit
-23.6% -12.3%
18.5 21.1 24.2 OPM %
-645 bps -237 bps
11.4% 13.8% 17.8% Other income
from loss -23.3%
1.7 2.2 -0.1 Net profit?
-39.4% -40.6%
8.4 14.1 13.8 PAT margin %
-504 bps -405 bps
5.2% 9.2% 10.2% EPS (₹)
-32.5% -41.1%
8.20 13.92 12.14
Quality of profit
Pre-tax profit ₹11.7 Cr: core business ₹12.8 Cr, other income ₹1.7 Cr, exceptional & other items −₹2.7 Cr.
Core profit YoY: -30.1%
· reported profit -39.4%
Against its own trend ?
Trend Actual Gap
Sales ₹144 ₹162
+12.6% above Net profit ₹15.0 ₹8.4
-44.0% below
₹ Cr
Dec 2025
Sales
96.0 Operating profit
-4.0 OPM %
-4.2% Other income
3.0 Net profit?
-7.0 PAT margin %
-7.3% EPS (₹)
-1.80
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 −₹12.0 Cr: core business −₹15.0 Cr, other income ₹3.0 Cr.
Cash & debt
FY25 cash from operations ₹33.0 Cr.
Borrowings ₹94.0 Cr at Mar 2025.
M Cap ₹2,161 Cr
P/E 13.8
PEG —
Profit -37% below its own trend Operating margin contracted 140 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% -2.2%
899 919 701 Operating profit
+8.3% -34.0%
68.0 103 62.8 OPM %
-140 bps -364 bps
7.6% 11.2% 9.0% Other income
+52.5% +41.5%
35.4 25.0 23.2 Net profit?
-0.2% -37.2%
29.5 47.0 29.6 PAT margin %
-94 bps -183 bps
3.3% 5.1% 4.2% EPS (₹)
+0.2% -35.9%
11.40 17.79 11.38
Quality of profit
Pre-tax profit ₹31.0 Cr: core business −₹4.3 Cr, other income ₹35.4 Cr.
Core profit YoY: to loss
· reported profit -0.2%
Cash & debt
FY25 cash from operations ₹166 Cr:
125% of FY25 net profit of ₹133 Cr.
Borrowings ₹1,438 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹814 ₹899
+10.5% above Net profit ₹46.5 ₹29.5
-36.5% below
M Cap ₹2,155 Cr
P/E 25.6
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+39.8%
144 103 Operating profit
+78.9%
34.0 19.0 OPM %
+516 bps
23.6% 18.4% Other income
—
0.0 0.0 Net profit
+76.9%
23.0 13.0 PAT margin %
+335 bps
16.0% 12.6% EPS (₹)
+82.2%
10.57 5.80
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹31.0 Cr, other income ₹0.0 Cr.
M Cap ₹2,150 Cr
P/E 25.2
PEG —
Profit -66% below its own trend Operating margin contracted 148 bps YoY 30% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 20% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-17.5% -12.3%
160 183 194 Operating profit
-24.9% -39.2%
24.1 39.6 32.1 OPM %
-148 bps -665 bps
15.0% 21.7% 16.5% Other income
-41.5% -6.6%
7.4 7.9 12.7 Net profit?
-60.0% -43.1%
14.3 25.1 35.7 PAT margin %
-948 bps -482 bps
8.9% 13.7% 18.4% EPS (₹)
-60.2% -43.6%
0.53 0.94 1.33
Quality of profit
Pre-tax profit ₹18.7 Cr: core business ₹13.0 Cr, other income ₹7.4 Cr, exceptional & other items −₹1.7 Cr.
Core profit YoY: -21.9%
· reported profit -60.0%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
20% of FY25 net profit of ₹249 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹186 ₹160
-13.8% below Net profit ₹42.5 ₹14.3
-66.4% below
Operating margin expanded 612 bps YoY 78% of pre-tax profit came from other income and one-off items Exceptional items of ₹2.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.0% +17.0%
165 141 163 Operating profit
+629.2% from loss 11.7 -17.8 1.6 OPM %
+612 bps +1971 bps
7.1% -12.6% 1.0% Other income
-64.3% -64.4%
2.3 6.4 6.4 Net profit?
-12.4% from loss 3.9 -14.0 4.4 PAT margin %
-36 bps +1228 bps
2.4% -9.9% 2.7% EPS (₹)
-12.2% from loss 0.65 -2.27 0.74
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹1.4 Cr, other income ₹2.3 Cr, exceptional & other items ₹2.8 Cr.
Core profit YoY: from loss
· reported profit -12.4%
Cash & debt
FY25 cash from operations −₹27.0 Cr.
Borrowings ₹22.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹168 ₹165
-1.8% in line
M Cap ₹2,130 Cr
P/E 16.7
PEG 2.09
Into loss: a profit a year ago Profit -999% below its own trend Operating margin contracted 355 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.7% +9.7%
1,535 1,399 1,241 Operating profit
-46.2% -56.7%
42.0 97.0 78.0 OPM %
-355 bps -420 bps
2.7% 6.9% 6.3% Other income
-69.2% -81.0%
4.0 21.0 13.0 Net profit?
to loss to loss -40.0 31.0 4.0 PAT margin %
-293 bps -482 bps
-2.6% 2.2% 0.3% EPS (₹)
to loss to loss -35.41 16.45 2.27
Quality of profit
Pre-tax profit −₹25.0 Cr: core business −₹29.0 Cr, other income ₹4.0 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹513 Cr:
232% of FY25 net profit of ₹221 Cr.
Borrowings ₹1,060 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,928 ₹1,535
-20.4% below Net profit ₹2.0 −₹40.0
-999.0% 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 14 Oct 2026, 03:10 IST
