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
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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 ₹2,127 Cr
P/E 28.8
PEG —
Profit -39% below its own trend Operating margin contracted 1288 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.0% -5.9%
160 170 172 Operating profit
-39.7% -2.6%
38.0 39.0 63.0 OPM %
-1288 bps +81 bps
23.8% 22.9% 36.6% Other income
— to loss -9.0 3.0 0.0 Net profit?
-62.2% -39.1%
14.0 23.0 37.0 PAT margin %
-1276 bps -478 bps
8.8% 13.5% 21.5% EPS (₹)
-64.3% -42.5%
0.46 0.80 1.29
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹26.0 Cr, other income −₹9.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -44.7%
· reported profit -62.2%
Cash & debt
FY25 cash from operations ₹167 Cr:
97% of FY25 net profit of ₹172 Cr.
Borrowings ₹156 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹146 ₹160
+9.7% above Net profit ₹23.0 ₹14.0
-39.3% below
M Cap ₹2,125 Cr
P/E 52.2
PEG —
Profit +33% above its own trend Operating margin expanded 2857 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.7% -84.1%
7.0 44.0 6.0 Operating profit
— -92.6%
2.0 27.0 0.0 OPM %
+2857 bps -3279 bps
28.6% 61.4% 0.0% Other income
-100.0% —
0.0 0.0 5.0 Net profit?
-33.3% -89.5%
2.0 19.0 3.0 PAT margin %
-2143 bps -1461 bps
28.6% 43.2% 50.0% EPS (₹)
-47.0% -91.0%
3.92 43.36 7.40
Quality of profit
Pre-tax profit ₹2.0 Cr: core business ₹2.0 Cr, other income ₹0.0 Cr.
Core profit YoY: —
· reported profit -33.3%
Cash & debt
FY25 cash from operations −₹16.0 Cr:
-23% of FY25 net profit of ₹71.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹6.8 ₹7.0
+3.7% in line Net profit ₹1.5 ₹2.0
+33.3% above
M Cap ₹2,122 Cr
P/E 6.8
PEG 0.32
Operating margin expanded 202 bps YoY FY25 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-13.7% +10.5%
799 723 926 Operating profit
-0.8% +14.8%
124 108 125 OPM %
+202 bps +58 bps
15.5% 14.9% 13.5% Other income
+71.4% +100.0%
12.0 6.0 7.0 Net profit
+3.6% +40.3%
87.0 62.0 84.0 PAT margin %
+182 bps +231 bps
10.9% 8.6% 9.1% EPS (₹)
+3.6% +41.0%
4.85 3.44 4.68
Quality of profit
Pre-tax profit ₹84.0 Cr: core business ₹73.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -5.2%
· reported profit +3.6%
Cash & debt
FY25 cash from operations ₹142 Cr:
40% of FY25 net profit of ₹355 Cr.
Borrowings ₹423 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹851 ₹799
-6.1% below Net profit ₹85.4 ₹87.0
+1.9% in line
M Cap ₹2,122 Cr
P/E 18.2
PEG 0.32
Profit -35% below its own trend Operating margin expanded 1043 bps YoY Core business grew faster than reported profit (core profit +139%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.9% -6.5%
180 193 177 Operating profit
+104.4% +21.2%
37.5 31.0 18.4 OPM %
+1043 bps +475 bps
20.8% 16.1% 10.4% Other income
+24.1% +47.4%
2.5 1.7 2.0 Net profit?
+30.5% +27.1%
25.6 20.1 19.6 PAT margin %
+311 bps +375 bps
14.2% 10.4% 11.1% EPS (₹)
+30.6% +27.1%
19.14 15.06 14.66
Quality of profit
Pre-tax profit ₹33.5 Cr: core business ₹31.0 Cr, other income ₹2.5 Cr.
Core profit YoY: +139.2%
· reported profit +30.5%
Cash & debt
FY25 cash from operations ₹86.0 Cr:
190% of FY25 net profit of ₹45.3 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹209 ₹180
-13.8% below Net profit ₹39.2 ₹25.6
-34.7% below
M Cap ₹2,112 Cr
P/E 634.2
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 6001 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.6% -18.0%
20.6 25.1 21.2 Operating profit
from loss +44.1%
10.4 7.2 -2.0 OPM %
+6001 bps +2169 bps
50.3% 28.7% -9.7% Other income
-5.4% -60.1%
0.5 1.3 0.5 Net profit
from loss +38.3%
4.3 3.1 -7.5 PAT margin %
+5649 bps +859 bps
21.1% 12.5% -35.4% EPS (₹)
from loss +38.4%
7.24 5.23 -12.48
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹5.4 Cr, other income ₹0.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹170 Cr.
Borrowings ₹145 Cr at Sep 2025, against ₹186 Cr at Mar 2025 (-22% ).
Against its own trend ?
Trend Actual Gap
Sales ₹19.3 ₹20.6
+6.8% above
M Cap ₹2,104 Cr
P/E 22.3
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+11.4%
120 108 Net profit
+147.3%
18.7 7.5 PAT margin %
+852 bps
15.5% 7.0%
Operating margin expanded 130 bps YoY Exceptional items of ₹-4.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+55.7% +22.3%
132 108 84.6 Operating profit
loss widened loss narrowed -6.1 -13.7 -5.0 OPM %
+130 bps +808 bps
-4.6% -12.7% -5.9% Other income
+373.8% -25.6%
2.6 3.5 0.5 Net profit?
loss narrowed to loss -12.0 0.9 -660 PAT margin %
— -995 bps
-9.1% 0.9% — EPS (₹)
loss narrowed to loss -0.52 0.04 -91.87
Quality of profit
Pre-tax profit −₹12.0 Cr: core business −₹10.6 Cr, other income ₹2.6 Cr, exceptional & other items −₹4.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹148 Cr.
Borrowings ₹291 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹124 ₹132
+6.1% above
M Cap ₹2,095 Cr
P/E 22.0
PEG 3.14
Profit -75% below its own trend Operating margin contracted 452 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-39.6% +13.9%
135 118 224 Operating profit
-47.5% +71.2%
40.7 23.8 77.6 OPM %
-452 bps +1009 bps
30.2% 20.1% 34.7% Other income
-31.5% -0.2%
7.4 7.4 10.8 Net profit?
-59.7% +221.7%
20.4 6.3 50.6 PAT margin %
-753 bps +975 bps
15.1% 5.3% 22.6% EPS (₹)
-59.7% +222.1%
6.57 2.04 16.32
Quality of profit
Pre-tax profit ₹27.8 Cr: core business ₹20.5 Cr, other income ₹7.4 Cr.
Core profit YoY: -65.0%
· reported profit -59.7%
Cash & debt
FY25 cash from operations ₹191 Cr:
102% of FY25 net profit of ₹188 Cr.
Borrowings ₹370 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹251 ₹135
-46.2% below Net profit ₹81.9 ₹20.4
-75.1% below
Profit -80% below its own trend Operating margin contracted 2892 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% +28.2%
152 118 151 Operating profit
-91.1% +7.8%
4.3 4.0 47.8 OPM %
-2892 bps -53 bps
2.8% 3.3% 31.7% Other income
+197.0% +18.7%
9.6 8.1 3.2 Net profit?
-90.0% from loss 3.4 -36.0 34.0 PAT margin %
-2035 bps +3271 bps
2.3% -30.5% 22.6% EPS (₹)
-77.8% from loss 0.02 -0.09 0.09
Quality of profit
Pre-tax profit ₹8.4 Cr: core business −₹1.6 Cr, other income ₹9.6 Cr.
Core profit YoY: to loss
· reported profit -90.0%
Cash & debt
FY25 cash from operations ₹112 Cr:
103% of FY25 net profit of ₹109 Cr.
Borrowings ₹38.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹125 ₹152
+20.9% above Net profit ₹17.0 ₹3.4
-79.9% below
M Cap ₹2,095 Cr
P/E 33.6
PEG —
Operating margin contracted 361 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+114.4% +34.5%
211 157 98.4 Operating profit
+63.0% +39.5%
24.2 17.3 14.8 OPM %
-361 bps +41 bps
11.4% 11.0% 15.1% Other income
+124.0% +119.7%
4.6 2.1 2.0 Net profit?
+77.6% +56.5%
17.4 11.1 9.8 PAT margin %
-171 bps +116 bps
8.2% 7.1% 9.9% EPS (₹)
+64.6% +56.0%
15.19 9.74 9.23
Quality of profit
Pre-tax profit ₹23.6 Cr: core business ₹19.0 Cr, other income ₹4.6 Cr.
Core profit YoY: +65.8%
· reported profit +77.6%
Against its own trend ?
Trend Actual Gap
Sales ₹197 ₹211
+7.2% above Net profit ₹16.9 ₹17.4
+3.0% in line
M Cap ₹2,092 Cr
P/E 1.2
PEG 0.02
Profit -27% below its own trend Operating margin expanded 670 bps YoY FY25 operating cash flow was only 47% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-10.0% -99.1%
115 12,172 128 Operating profit
+41.4% -98.8%
21.2 1,840 15.0 OPM %
+670 bps +330 bps
18.4% 15.1% 11.7% Other income
+37.5% -99.0%
5.5 525 4.0 Net profit?
+45.4% -98.9%
18.9 1,660 13.0 PAT margin %
+627 bps +278 bps
16.4% 13.6% 10.2% EPS (₹)
+64.3% +27.8%
0.23 0.18 0.14
Quality of profit
Pre-tax profit ₹25.1 Cr: core business ₹19.6 Cr, other income ₹5.5 Cr.
Core profit YoY: +39.9%
· reported profit +45.4%
Cash & debt
FY25 cash from operations ₹23.0 Cr:
47% of FY25 net profit of ₹49.3 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹240 ₹115
-52.0% below Net profit ₹26.0 ₹18.9
-27.3% below
M Cap ₹2,089 Cr
P/E 57.9
PEG 1.70
Profit +17% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+62.0% +22.2%
70.3 57.6 43.4 Operating profit
+58.1% +63.8%
18.6 11.4 11.8 OPM %
-65 bps +671 bps
26.4% 19.7% 27.1% Other income
+70.5% -58.2%
0.5 1.2 0.3 Net profit
+126.1% +125.8%
10.2 4.5 4.5 PAT margin %
+413 bps +668 bps
14.6% 7.9% 10.4% EPS (₹)
+120.7% +126.1%
4.59 2.03 2.08
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹10.4 Cr, other income ₹0.5 Cr.
Core profit YoY: +99.7%
· reported profit +126.1%
Cash & debt
FY25 cash from operations ₹34.0 Cr:
192% of FY25 net profit of ₹17.7 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹53.1 ₹70.3
+32.4% above Net profit ₹8.7 ₹10.2
+17.2% above
M Cap ₹2,088 Cr
P/E 646.5
PEG —
Operating margin expanded 426 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.4% -8.2%
445 485 411 Operating profit
+166.0% -25.7%
32.0 43.0 12.0 OPM %
+426 bps -169 bps
7.2% 8.9% 2.9% Other income
to loss to loss -5.0 0.8 0.8 Net profit?
loss widened loss widened -29.0 -9.2 -28.4 PAT margin %
+40 bps -462 bps
-6.5% -1.9% -6.9% EPS (₹)
loss widened loss widened -3.23 -1.00 -3.08
Quality of profit
Pre-tax profit −₹31.0 Cr: core business −₹26.0 Cr, other income −₹5.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹95.0 Cr.
Borrowings ₹994 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹392 ₹445
+13.6% above
M Cap ₹2,080 Cr
P/E 50.3
PEG 1.57
Turnaround: profit against a loss a year ago Operating margin expanded 1618 bps YoY Exceptional items of ₹21.5 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.0% +0.8%
178 177 157 Operating profit
+219.2% +15.2%
44.9 39.0 14.1 OPM %
+1618 bps +314 bps
25.2% 22.0% 9.0% Other income
+57.2% +51.9%
1.5 1.0 1.0 Net profit?
from loss -74.5%
3.2 12.6 -10.1 PAT margin %
+825 bps -531 bps
1.8% 7.1% -6.4% EPS (₹)
from loss -74.2%
0.87 3.37 -2.79
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹20.8 Cr, other income ₹1.5 Cr, exceptional & other items −₹21.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹113 Cr.
Borrowings ₹54.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹189 ₹178
-5.6% below
M Cap ₹2,073 Cr
P/E 4.3
PEG 0.29
Gross NPA down 94 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+2.7% +3.4%
457 442 445 Net interest income
+5.6% +5.6%
208 197 197 Other income
— -100.0%
0.0 1.0 0.0 Net profit?
+1.8% +4.5%
115 110 113 EPS (₹)
+2.0% +5.2%
18.45 17.53 18.09 Gross NPA %
-94 bps -24 bps
2.9% 3.2% 3.9% Net NPA %
-12 bps -12 bps
1.4% 1.5% 1.5%
Against its own trend ?
Trend Actual Gap
NII ₹221 ₹208
-5.7% below Net profit ₹117 ₹115
-2.1% in line
₹ Cr
Dec 2025
Sales
278 Operating profit
-39.0 OPM %
-14.0% Other income
-19.0 Net profit?
-62.0 PAT margin %
-22.3% EPS (₹)
-11.66
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 −₹62.0 Cr: core business −₹43.0 Cr, other income −₹19.0 Cr.
M Cap ₹2,057 Cr
P/E 84.0
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1711 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+760.5% +17.1%
101 86.3 11.7 Operating profit
— +32.7%
21.6 16.3 0.5 OPM %
+1711 bps +250 bps
21.3% 18.8% 4.2% Other income
+172.6% -58.5%
1.0 2.5 0.4 Net profit?
from loss +38.4%
19.2 13.9 -0.3 PAT margin %
+2153 bps +293 bps
19.0% 16.1% -2.5% EPS (₹)
from loss -86.0%
0.30 2.15 adj. -0.01
EPS restated for the ₹10 to ₹1 split of Sep 2025: Dec 2024 ₹-0.05 to ₹-0.01.
Quality of profit
Pre-tax profit ₹21.2 Cr: core business ₹20.2 Cr, other income ₹1.0 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹23.5 ₹101
+330.2% above
M Cap ₹2,056 Cr
P/E 10.3
PEG 0.04
Profit +17% above its own trend Operating margin contracted 579 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+244.7% +23.9%
648 523 188 Operating profit
+143.2% +15.4%
90.0 78.0 37.0 OPM %
-579 bps -103 bps
13.9% 14.9% 19.7% Other income
-100.0% -100.0%
0.0 2.0 1.0 Net profit?
+134.8% +1.9%
54.0 53.0 23.0 PAT margin %
-390 bps -180 bps
8.3% 10.1% 12.2% EPS (₹)
+122.3% +3.1%
21.25 20.62 9.56
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹77.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +140.6%
· reported profit +134.8%
Cash & debt
FY25 cash from operations ₹69.0 Cr:
83% of FY25 net profit of ₹83.0 Cr.
Borrowings ₹79.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹376 ₹648
+72.3% above Net profit ₹46.0 ₹54.0
+17.4% above
Exceptional items of ₹-5.0 Cr in the quarter
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+45.2%
335 231 Operating profit
+254.3%
22.8 6.4 OPM %
+402 bps
6.8% 2.8% Other income
+113.0%
2.5 1.1 Net profit?
loss narrowed -10.5 -19.3 PAT margin %
+522 bps
-3.1% -8.4% EPS (₹)
loss narrowed -0.22 -0.39
Quality of profit
Pre-tax profit −₹11.6 Cr: core business −₹9.0 Cr, other income ₹2.5 Cr, exceptional & other items −₹5.0 Cr.
Into loss: a profit a year ago Operating margin contracted 2330 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-15.8% -1.9%
277 282 329 Operating profit
to loss loss narrowed -32.3 -33.0 38.2 OPM %
-2330 bps +3 bps
-11.7% -11.7% 11.6% Other income
-49.1% +146.9%
7.4 3.0 14.5 Net profit?
to loss loss narrowed -67.9 -69.0 31.7 PAT margin %
-3417 bps -6 bps
-24.5% -24.5% 9.7% EPS (₹)
to loss loss widened -5.12 -4.95 2.62
Quality of profit
Pre-tax profit −₹67.5 Cr: core business −₹73.2 Cr, other income ₹7.4 Cr, exceptional & other items −₹1.8 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹169 Cr.
Borrowings ₹707 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹351 ₹277
-21.1% below
M Cap ₹2,051 Cr
P/E 30.7
PEG 0.73
Profit +26% above its own trend Operating margin expanded 448 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+20.1% +92.9%
175 90.5 145 Operating profit
+54.3% +15.6%
35.3 30.5 22.9 OPM %
+448 bps -1352 bps
20.2% 33.7% 15.7% Other income
+194.1% —
0.5 0.0 0.2 Net profit
+69.5% +21.0%
25.9 21.4 15.3 PAT margin %
+433 bps -883 bps
14.9% 23.7% 10.5% EPS (₹)
+62.5% +18.2%
0.26 0.22 0.16
Quality of profit
Pre-tax profit ₹34.1 Cr: core business ₹33.6 Cr, other income ₹0.5 Cr.
Core profit YoY: +64.2%
· reported profit +69.5%
Cash & debt
FY25 cash from operations −₹23.0 Cr:
-53% of FY25 net profit of ₹43.2 Cr.
Borrowings ₹72.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹175
+20.2% above Net profit ₹20.6 ₹25.9
+26.2% above
M Cap ₹2,036 Cr
P/E 22.3
PEG 0.56
Profit -12% below its own trend Operating margin expanded 130 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.8% +5.9%
299 282 252 Operating profit
+34.0% +10.4%
34.2 31.0 25.6 OPM %
+130 bps +47 bps
11.5% 11.0% 10.2% Other income
-9.8% +87.3%
1.9 1.0 2.1 Net profit
+41.9% +12.1%
22.4 20.0 15.8 PAT margin %
+122 bps +41 bps
7.5% 7.1% 6.3% EPS (₹)
+42.0% +14.3%
4.63 4.05 adj. 3.26
EPS restated for the 1:1 bonus of Jul 2025: Dec 2024 ₹6.52 to ₹3.26.
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹28.2 Cr, other income ₹1.9 Cr.
Core profit YoY: +48.6%
· reported profit +41.9%
Cash & debt
FY25 cash from operations ₹56.0 Cr:
85% of FY25 net profit of ₹65.8 Cr.
Borrowings ₹59.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹322 ₹299
-7.2% below Net profit ₹25.5 ₹22.4
-12.2% below
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.1% +2.7%
202 196 213 Operating profit
-11.3% —
17.9 1.4 20.2 OPM %
-61 bps +818 bps
8.9% 0.7% 9.5% Other income
-41.2% +18.1%
2.9 2.5 5.0 Net profit
-4.1% —
13.7 0.6 14.3 PAT margin %
+7 bps +645 bps
6.8% 0.3% 6.7% EPS (₹)
-3.8% —
0.75 0.03 0.78
Quality of profit
Pre-tax profit ₹17.9 Cr: core business ₹14.9 Cr, other income ₹2.9 Cr.
Core profit YoY: -9.5%
· reported profit -4.1%
Against its own trend ?
Trend Actual Gap
Sales ₹167 ₹202
+21.1% above
M Cap ₹2,006 Cr
P/E 20.9
PEG 1.61
Operating margin expanded 347 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.6% +50.3%
264 176 223 Operating profit
+31.3% +126.0%
95.2 42.1 72.5 OPM %
+347 bps +1206 bps
36.0% 23.9% 32.5% Other income
+7.9% +44.6%
2.2 1.5 2.1 Net profit
+31.1% +567.6%
45.1 6.8 34.4 PAT margin %
+163 bps +1321 bps
17.1% 3.8% 15.4% EPS (₹)
+31.1% +565.4%
5.39 0.81 4.11
Quality of profit
Pre-tax profit ₹60.0 Cr: core business ₹57.8 Cr, other income ₹2.2 Cr.
Core profit YoY: +33.9%
· reported profit +31.1%
Cash & debt
FY25 cash from operations ₹150 Cr:
199% of FY25 net profit of ₹75.3 Cr.
Borrowings ₹411 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹268 ₹264
-1.4% in line Net profit ₹44.2 ₹45.1
+2.1% in line
M Cap ₹2,002 Cr
P/E 99.2
PEG 3.67
Into loss: a profit a year ago Profit -128% below its own trend Operating margin contracted 1231 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-21.9% -10.6%
324 363 415 Operating profit
to loss loss widened -27.5 -12.7 15.9 OPM %
-1231 bps -498 bps
-8.5% -3.5% 3.8% Other income
-31.5% -10.3%
26.6 29.7 38.8 Net profit?
to loss to loss -9.8 1.9 70.1 PAT margin %
-1993 bps -357 bps
-3.0% 0.5% 16.9% EPS (₹)
to loss to loss -0.48 0.09 3.39
Quality of profit
Pre-tax profit −₹12.6 Cr: core business −₹38.4 Cr, other income ₹26.6 Cr, exceptional & other items −₹0.8 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹17.0 Cr:
-3% of FY25 net profit of ₹490 Cr.
Borrowings ₹3.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹393 ₹324
-17.6% below Net profit ₹35.0 −₹9.8
-128.1% below
M Cap ₹1,998 Cr
P/E 30.2
PEG —
Profit +198% above its own trend Operating margin expanded 279 bps YoY Core business grew faster than reported profit (core profit +211%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.4% -4.5%
638 668 617 Operating profit
+52.8% +205.6%
55.0 18.0 36.0 OPM %
+279 bps +593 bps
8.6% 2.7% 5.8% Other income
to loss to loss -2.0 2.0 2.0 Net profit
+142.9% from loss 17.0 -7.0 7.0 PAT margin %
+153 bps +371 bps
2.7% -1.0% 1.1% EPS (₹)
+147.5% from loss 8.34 -3.29 3.37
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹28.0 Cr, other income −₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +211.1%
· reported profit +142.9%
Cash & debt
FY25 cash from operations ₹154 Cr:
173% of FY25 net profit of ₹89.0 Cr.
Borrowings ₹1,371 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹647 ₹638
-1.3% in line Net profit ₹5.7 ₹17.0
+198.5% above
M Cap ₹1,997 Cr
P/E 4.9
PEG 0.27
Profit -28% below its own trend Operating margin contracted 815 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.4% +27.4%
136 107 127 Operating profit
-15.0% +24.1%
42.2 34.0 49.6 OPM %
-815 bps -84 bps
30.9% 31.8% 39.1% Other income
+13.4% -32.1%
1.9 2.9 1.7 Net profit?
-10.2% +32.1%
37.0 28.0 41.2 PAT margin %
-531 bps +96 bps
27.1% 26.2% 32.4% EPS (₹)
-10.2% +34.4%
5.90 4.39 6.57
Quality of profit
Pre-tax profit ₹39.8 Cr: core business ₹37.9 Cr, other income ₹1.9 Cr.
Core profit YoY: -14.2%
· reported profit -10.2%
Cash & debt
FY25 cash from operations ₹116 Cr:
99% of FY25 net profit of ₹117 Cr.
Borrowings ₹44.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹141 ₹136
-3.1% in line Net profit ₹51.3 ₹37.0
-28.0% below
M Cap ₹1,988 Cr
P/E 31.7
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+17.6%
448 381 Operating profit
+51.4%
23.6 15.6 OPM %
+117 bps
5.3% 4.1% Other income
-75.2%
0.7 2.6 Net profit?
+47.5%
15.4 10.5 PAT margin %
+70 bps
3.4% 2.7% EPS (₹)
+10.8%
0.72 0.65
Quality of profit
Pre-tax profit ₹20.6 Cr: core business ₹20.0 Cr, other income ₹0.7 Cr.
M Cap ₹1,987 Cr
P/E 11.5
PEG —
Profit +92% above its own trend Operating margin expanded 817 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.7% +11.6%
202 181 166 Operating profit
+76.7% +17.8%
53.0 45.0 30.0 OPM %
+817 bps +138 bps
26.2% 24.9% 18.1% Other income
+400.0% +66.7%
5.0 3.0 1.0 Net profit
+90.9% +20.0%
42.0 35.0 22.0 PAT margin %
+754 bps +146 bps
20.8% 19.3% 13.3% EPS (₹)
+91.2% +20.4%
18.39 15.27 9.62
Quality of profit
Pre-tax profit ₹56.0 Cr: core business ₹52.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +85.7%
· reported profit +90.9%
Cash & debt
FY25 cash from operations ₹162 Cr:
126% of FY25 net profit of ₹129 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹177 ₹202
+14.3% above Net profit ₹21.9 ₹42.0
+91.8% above
Operating margin contracted 254 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.4% +11.6%
1,598 1,432 1,361 Operating profit
-5.7% -16.2%
166 198 176 OPM %
-254 bps -344 bps
10.4% 13.8% 12.9% Other income
to loss to loss -34.0 7.6 2.0 Net profit?
loss widened to loss -47.0 15.0 -1.0 PAT margin %
-287 bps -399 bps
-2.9% 1.0% -0.1% EPS (₹)
to loss to loss -0.59 0.21 0.01
Quality of profit
Pre-tax profit −₹49.0 Cr: core business −₹15.0 Cr, other income −₹34.0 Cr.
Cash & debt
FY25 cash from operations ₹843 Cr:
3283% of FY25 net profit of ₹25.7 Cr.
Borrowings ₹4,008 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,401 ₹1,598
+14.1% above
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
