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 ₹1,974 Cr
P/E 26.0
PEG 2.89
Profit +88% above its own trend Operating margin contracted 191 bps YoY 89% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.1% +0.1%
537 537 511 Operating profit
-7.3% -4.8%
77.0 80.9 83.1 OPM %
-191 bps -73 bps
14.3% 15.1% 16.3% Other income
+19.2% +33.1%
25.0 18.8 21.0 Net profit?
+61.3% +20.5%
22.0 18.2 13.6 PAT margin %
+143 bps +70 bps
4.1% 3.4% 2.7% EPS (₹)
+50.0% +20.0%
0.12 0.10 0.08
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹3.0 Cr, other income ₹25.0 Cr.
Core profit YoY: from loss
· reported profit +61.3%
Cash & debt
FY25 cash from operations ₹290 Cr:
313% of FY25 net profit of ₹92.5 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹533 ₹537
+0.7% in line Net profit ₹11.7 ₹22.0
+88.1% above
M Cap ₹1,968 Cr
P/E 42.1
PEG 1.50
Turnaround: profit against a loss a year ago Operating margin expanded 245 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
+7.8% -0.1%
248 248 230 Operating profit
+171.2% -37.1%
10.1 16.0 3.7 OPM %
+245 bps -239 bps
4.1% 6.5% 1.6% Other income
+989.2% +80.8%
18.1 10.0 1.7 Net profit?
from loss -10.1%
8.1 9.0 -11.1 PAT margin %
+809 bps -36 bps
3.3% 3.6% -4.8% EPS (₹)
from loss -7.4%
1.00 1.08 -1.97
Quality of profit
Pre-tax profit ₹15.5 Cr: core business −₹2.6 Cr, other income ₹18.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹208 Cr:
1857% of FY25 net profit of ₹11.2 Cr.
Borrowings ₹2,174 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹184 ₹248
+34.6% above
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.7% -6.4%
77.7 83.0 66.0 Operating profit
loss narrowed loss widened -187 -56.0 -192 Other income
— +80.8%
21.7 12.0 1.3 Net profit?
loss narrowed loss widened -193 -63.0 -336 EPS (₹)
loss narrowed loss widened -26.72 -8.63 -46.58
Quality of profit
Pre-tax profit −₹193 Cr: core business −₹214 Cr, other income ₹21.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹1,857 Cr.
Borrowings ₹3,471 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹42.1 ₹77.7
+84.6% above
Operating margin contracted 167 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.5% -6.4%
73.2 78.3 79.1 Operating profit
-53.8% —
1.2 0.1 2.6 OPM %
-167 bps +156 bps
1.7% 0.1% 3.3% Other income
-34.1% -20.4%
2.5 3.2 3.8 Net profit?
loss widened loss narrowed -6.8 -7.7 -3.7 PAT margin %
-468 bps +52 bps
-9.4% -9.9% -4.7% EPS (₹)
loss widened loss widened -1.03 -0.99 -0.56
Quality of profit
Pre-tax profit −₹9.4 Cr: core business −₹11.9 Cr, other income ₹2.5 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹131 Cr:
-4580% of FY25 net profit of ₹2.9 Cr.
Borrowings ₹284 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹73.2
-53.7% below
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-28.1% -19.2%
21.0 26.0 29.2 Operating profit
loss widened loss narrowed -23.0 -37.0 -16.8 Other income
+32.5% -6.2%
15.0 16.0 11.3 Net profit?
loss narrowed loss narrowed -27.0 -39.0 -51.3 EPS (₹)
loss narrowed loss narrowed -0.77 -1.10 -1.44
Quality of profit
Pre-tax profit −₹27.0 Cr: core business −₹43.0 Cr, other income ₹15.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹46.0 Cr.
Borrowings ₹1,029 Cr at Sep 2025, against ₹1,029 Cr at Mar 2025 (+0% ).
Against its own trend ?
Trend Actual Gap
Sales ₹21.6 ₹21.0
-2.6% in line
M Cap ₹1,945 Cr
P/E 50.2
PEG 1.32
Profit +110% above its own trend Operating margin expanded 557 bps YoY FY25 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+43.3% +0.5%
86.1 85.7 60.1 Operating profit
+107.1% +10.0%
15.6 14.2 7.5 OPM %
+557 bps +157 bps
18.1% 16.5% 12.5% Other income
-91.1% -82.7%
0.0 0.2 0.3 Net profit
+119.0% +4.5%
9.8 9.4 4.5 PAT margin %
+393 bps +43 bps
11.4% 10.9% 7.4% EPS (₹)
+119.0% +4.5%
9.79 9.37 4.47
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹13.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +129.3%
· reported profit +119.0%
Cash & debt
FY25 cash from operations ₹7.0 Cr:
28% of FY25 net profit of ₹25.4 Cr.
Borrowings ₹3.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹70.1 ₹86.1
+22.9% above Net profit ₹4.7 ₹9.8
+110.2% above
M Cap ₹1,945 Cr
P/E 503.8
PEG —
Into loss: a profit a year ago Profit -148% below its own trend Operating margin contracted 510 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.0% +5.3%
78.3 74.3 80.7 Operating profit
-35.8% +4.7%
7.8 7.5 12.2 OPM %
-510 bps -6 bps
10.0% 10.0% 15.1% Other income
to loss to loss -3.1 1.3 1.6 Net profit?
to loss to loss -1.2 1.6 5.0 PAT margin %
-765 bps -370 bps
-1.5% 2.2% 6.1% EPS (₹)
to loss to loss -0.52 0.71 2.17
Quality of profit
Pre-tax profit −₹1.7 Cr: core business ₹1.4 Cr, other income −₹3.1 Cr.
Core profit YoY: -74.9%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
210% of FY25 net profit of ₹9.5 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹75.5 ₹78.3
+3.7% in line Net profit ₹2.5 −₹1.2
-148.1% below
M Cap ₹1,942 Cr
P/E 8.0
PEG 0.11
Profit -19% below its own trend Operating margin contracted 291 bps YoY 74% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -75%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.2% +2.1%
614 602 601 Operating profit
-34.4% -61.0%
32.0 82.1 48.8 OPM %
-291 bps -844 bps
5.2% 13.7% 8.1% Other income
+8.9% +35.5%
15.0 11.1 13.8 Net profit?
-44.7% -65.1%
17.0 48.8 30.7 PAT margin %
-235 bps -534 bps
2.8% 8.1% 5.1% EPS (₹)
-3.2% -53.1%
1.20 2.56 1.24
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹5.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -75.5%
· reported profit -44.7%
Cash & debt
FY25 cash from operations ₹160 Cr:
63% of FY25 net profit of ₹253 Cr.
Borrowings ₹542 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹594 ₹614
+3.4% in line Net profit ₹21.0 ₹17.0
-19.0% below
M Cap ₹1,930 Cr
P/E 29.0
PEG 1.71
Profit -11% below its own trend Operating margin contracted 217 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.5% +4.8%
233 222 195 Operating profit
-1.0% -14.6%
24.4 28.6 24.6 OPM %
-217 bps -238 bps
10.5% 12.8% 12.6% Other income
+11.3% +25.4%
4.6 3.6 4.1 Net profit?
-3.7% -15.7%
15.0 17.8 15.6 PAT margin %
-155 bps -157 bps
6.4% 8.0% 8.0% EPS (₹)
-4.4% -16.0%
7.12 8.48 7.45
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹15.4 Cr, other income ₹4.6 Cr.
Core profit YoY: -5.1%
· reported profit -3.7%
Cash & debt
FY25 cash from operations ₹68.0 Cr:
111% of FY25 net profit of ₹61.0 Cr.
Borrowings ₹33.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹233 ₹233
+0.1% in line Net profit ₹16.9 ₹15.0
-11.2% below
Turnaround: profit against a loss a year ago Operating margin expanded 2001 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
+7.2% +6.9%
289 270 269 Operating profit
from loss from loss 6.7 -15.5 -47.7 OPM %
+2001 bps +805 bps
2.3% -5.7% -17.7% Other income
+65.7% from loss 8.3 -2.7 5.0 Net profit?
from loss from loss 4.0 -28.6 -55.3 PAT margin %
+2192 bps +1199 bps
1.4% -10.6% -20.5% EPS (₹)
from loss from loss 0.51 -3.64 -7.12
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹4.2 Cr, other income ₹8.3 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹68.0 Cr.
Borrowings ₹292 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹261 ₹289
+10.5% above
M Cap ₹1,902 Cr
P/E 21.4
PEG —
Profit +242% above its own trend Operating margin contracted 240 bps YoY 70% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -46%) FY25 operating cash flow was only 22% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.5% +5.4%
584 554 543 Operating profit
-14.3% +5.1%
55.3 52.7 64.5 OPM %
-240 bps -3 bps
9.5% 9.5% 11.9% Other income
— —
34.2 0.3 0.9 Net profit?
+86.4% +255.8%
32.6 9.2 17.5 PAT margin %
+237 bps +393 bps
5.6% 1.7% 3.2% EPS (₹)
+85.8% +257.6%
2.36 0.66 1.27
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹14.9 Cr, other income ₹34.2 Cr.
Core profit YoY: -45.7%
· reported profit +86.4%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
22% of FY25 net profit of ₹73.2 Cr.
Borrowings ₹832 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹602 ₹584
-3.0% in line Net profit ₹9.5 ₹32.6
+241.9% above
M Cap ₹1,894 Cr
P/E 41.6
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+2.0%
52.0 51.0 Operating profit
+10.0%
11.0 10.0 OPM %
+155 bps
21.2% 19.6% Other income
—
0.0 0.0 Net profit
+0.0%
6.0 6.0 PAT margin %
-23 bps
11.5% 11.8% EPS (₹)
-8.7%
0.21 0.23
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹9.0 Cr, other income ₹0.0 Cr.
Into loss: a profit a year ago Operating margin contracted 4489 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-30.4% -3.3%
33.3 34.4 47.8 Operating profit
to loss loss narrowed -10.1 -10.4 7.0 OPM %
-4489 bps +12 bps
-30.2% -30.4% 14.6% Other income
+27.5% -79.2%
0.5 2.5 0.4 Net profit
to loss loss narrowed -14.7 -15.9 4.8 PAT margin %
-5415 bps +197 bps
-44.1% -46.1% 10.0% EPS (₹)
to loss loss narrowed -3.67 -3.96 1.05
Quality of profit
Pre-tax profit −₹15.5 Cr: core business −₹15.5 Cr, other income ₹0.5 Cr, exceptional & other items −₹0.5 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹72.0 Cr.
Borrowings ₹85.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹54.1 ₹33.3
-38.5% below
M Cap ₹1,888 Cr
P/E 24.5
PEG 4.08
Profit +39% above its own trend Operating margin expanded 111 bps YoY 38% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +101%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+30.0% +33.4%
483 362 371 Operating profit
+73.6% +42.8%
21.4 15.0 12.3 OPM %
+111 bps +29 bps
4.4% 4.1% 3.3% Other income
-11.0% -2.4%
9.8 10.0 11.0 Net profit?
+41.4% +27.6%
19.1 15.0 13.5 PAT margin %
+32 bps -18 bps
4.0% 4.1% 3.6% EPS (₹)
+39.4% +31.2%
1.05 0.80 adj. 0.75
EPS restated for the 2:1 bonus of Dec 2025: Dec 2024 ₹2.26 to ₹0.75.
Quality of profit
Pre-tax profit ₹25.5 Cr: core business ₹15.7 Cr, other income ₹9.8 Cr.
Core profit YoY: +101.0%
· reported profit +41.4%
Cash & debt
FY25 cash from operations ₹62.0 Cr:
101% of FY25 net profit of ₹61.2 Cr.
Borrowings ₹364 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹344 ₹483
+40.3% above Net profit ₹13.7 ₹19.1
+39.5% above
M Cap ₹1,886 Cr
P/E 41.4
PEG —
Profit -13% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.6% +11.1%
1,345 1,211 1,195 Operating profit
+12.1% +37.0%
74.0 54.0 66.0 OPM %
-2 bps +104 bps
5.5% 4.5% 5.5% Other income
+0.0% -40.0%
3.0 5.0 3.0 Net profit?
+16.7% +600.0%
14.0 2.0 12.0 PAT margin %
+4 bps +88 bps
1.0% 0.2% 1.0% EPS (₹)
+24.4% —
3.42 0.29 2.75
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹16.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +33.3%
· reported profit +16.7%
Cash & debt
FY25 cash from operations ₹152 Cr:
855% of FY25 net profit of ₹17.8 Cr.
Borrowings ₹870 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,517 ₹1,345
-11.3% below Net profit ₹16.1 ₹14.0
-12.9% below
M Cap ₹1,884 Cr
P/E 28.5
PEG —
Operating margin expanded 156 bps YoY Core business grew faster than reported profit (core profit +62%) FY25 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+32.4% +53.4%
270 176 204 Operating profit
+52.4% +190.9%
32.0 11.0 21.0 OPM %
+156 bps +560 bps
11.9% 6.2% 10.3% Other income
to loss to loss -3.0 9.0 10.0 Net profit
-10.5% +54.5%
17.0 11.0 19.0 PAT margin %
-302 bps +5 bps
6.3% 6.2% 9.3% EPS (₹)
-12.7% +49.2%
16.43 11.01 18.82
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹26.0 Cr, other income −₹3.0 Cr.
Core profit YoY: +62.5%
· reported profit -10.5%
Cash & debt
FY25 cash from operations ₹22.0 Cr:
28% of FY25 net profit of ₹80.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹211 ₹270
+27.8% above Net profit ₹18.1 ₹17.0
-5.9% in line
Into loss: a profit a year ago Profit -999% below its own trend Operating margin contracted 2175 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-60.3% -19.6%
59.0 73.4 149 Operating profit
to loss loss widened -10.0 -4.5 7.1 OPM %
-2175 bps -1086 bps
-16.9% -6.1% 4.8% Other income
-38.1% +95.5%
1.0 0.5 1.6 Net profit?
to loss loss widened -19.0 -9.7 1.9 PAT margin %
-3351 bps -1900 bps
-32.2% -13.2% 1.3% EPS (₹)
to loss loss widened -11.76 -6.69 1.35
Quality of profit
Pre-tax profit −₹22.0 Cr: core business −₹22.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹25.0 Cr:
91% of FY25 net profit of ₹27.4 Cr.
Borrowings ₹77.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹111 ₹59.0
-46.7% below Net profit ₹1.0 −₹19.0
-999.0% below
M Cap ₹1,862 Cr
P/E 7.6
PEG 0.17
Profit +20% above its own trend Operating margin contracted 398 bps YoY 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -15%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.5% +3.7%
489 472 459 Operating profit
-15.2% -8.1%
76.0 82.7 89.6 OPM %
-398 bps -199 bps
15.5% 17.5% 19.5% Other income
+56.2% +8.5%
62.0 57.2 39.7 Net profit?
+30.4% +3.1%
78.0 75.6 59.8 PAT margin %
+293 bps -8 bps
16.0% 16.0% 13.0% EPS (₹)
+39.3% +4.4%
11.35 10.87 8.15
Quality of profit
Pre-tax profit ₹105 Cr: core business ₹43.0 Cr, other income ₹62.0 Cr.
Core profit YoY: -15.2%
· reported profit +30.4%
Cash & debt
FY25 cash from operations ₹373 Cr:
177% of FY25 net profit of ₹210 Cr.
Borrowings ₹570 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹398 ₹489
+22.8% above Net profit ₹64.9 ₹78.0
+20.2% above
Operating margin contracted 755 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+4.5% -5.9%
302 321 289 Operating profit
loss widened loss narrowed -155 -169 -127 OPM %
-755 bps +127 bps
-51.4% -52.7% -43.9% Other income
+50.3% -32.6%
17.2 25.5 11.4 Net profit?
loss widened loss narrowed -153 -166 -150 PAT margin %
+125 bps +111 bps
-50.8% -51.9% -52.0% EPS (₹)
loss widened loss narrowed -8.38 -9.11 -8.23
Quality of profit
Pre-tax profit −₹201 Cr: core business −₹218 Cr, other income ₹17.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹1,007 Cr.
Borrowings ₹796 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹225 ₹302
+34.2% above
M Cap ₹1,845 Cr
P/E 274.6
PEG —
Profit +86% above its own trend Operating margin expanded 498 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
+15.8% +5.1%
416 396 359 Operating profit
+135.4% +64.9%
40.8 24.8 17.4 OPM %
+498 bps +356 bps
9.8% 6.3% 4.8% Other income
-47.7% +11.7%
3.4 3.1 6.6 Net profit
+20.5% from loss 10.2 -6.1 8.5 PAT margin %
+10 bps +401 bps
2.5% -1.5% 2.4% EPS (₹)
+21.7% from loss 0.84 -0.50 0.69
Quality of profit
Pre-tax profit ₹11.4 Cr: core business ₹8.0 Cr, other income ₹3.4 Cr.
Core profit YoY: from loss
· reported profit +20.5%
Cash & debt
FY25 cash from operations ₹78.0 Cr:
108% of FY25 net profit of ₹72.1 Cr.
Borrowings ₹413 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹337 ₹416
+23.4% above Net profit ₹5.5 ₹10.2
+86.3% above
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+4.7% -1.9%
591 602 564 Operating profit
+0.1% -26.6%
37.7 51.3 37.6 OPM %
-30 bps -215 bps
6.4% 8.5% 6.7% Other income
-62.0% -57.8%
1.8 4.3 4.8 Net profit?
loss widened loss widened -64.1 -44.2 -54.5 PAT margin %
-120 bps -352 bps
-10.9% -7.3% -9.7% EPS (₹)
loss widened loss widened -4.90 -3.38 -4.17
Quality of profit
Pre-tax profit −₹73.8 Cr: core business −₹75.7 Cr, other income ₹1.8 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹234 Cr.
Borrowings ₹1,446 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹599 ₹591
-1.4% in line
M Cap ₹1,829 Cr
P/E 22.2
PEG —
Profit +55% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.9% +1.8%
314 309 296 Operating profit
+12.3% -3.1%
32.5 33.5 28.9 OPM %
+59 bps -52 bps
10.3% 10.9% 9.8% Other income
+35.8% -17.7%
3.5 4.2 2.6 Net profit?
+14.8% -7.9%
22.0 23.9 19.2 PAT margin %
+54 bps -73 bps
7.0% 7.7% 6.5% EPS (₹)
+14.8% -7.9%
5.74 6.23 5.00
Quality of profit
Pre-tax profit ₹29.6 Cr: core business ₹26.1 Cr, other income ₹3.5 Cr.
Core profit YoY: +11.9%
· reported profit +14.8%
Cash & debt
FY25 cash from operations ₹118 Cr:
138% of FY25 net profit of ₹85.8 Cr.
Borrowings ₹10.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹289 ₹314
+8.8% above Net profit ₹14.3 ₹22.0
+54.5% above
M Cap ₹1,828 Cr
P/E 30.4
PEG 3.79
Profit -52% below its own trend Operating margin contracted 531 bps YoY 47% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.7% +7.7%
461 428 392 Operating profit
-55.1% +143.7%
15.1 6.2 33.6 OPM %
-531 bps +183 bps
3.3% 1.4% 8.6% Other income
+30.0% -75.5%
4.8 19.6 3.7 Net profit?
-66.9% -43.5%
7.5 13.2 22.6 PAT margin %
-415 bps -147 bps
1.6% 3.1% 5.8% EPS (₹)
-66.2% -41.9%
0.25 0.43 0.74
Quality of profit
Pre-tax profit ₹10.4 Cr: core business ₹5.5 Cr, other income ₹4.8 Cr.
Core profit YoY: -79.4%
· reported profit -66.9%
Cash & debt
FY25 cash from operations ₹104 Cr:
120% of FY25 net profit of ₹87.0 Cr.
Borrowings ₹33.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹545 ₹461
-15.4% below Net profit ₹15.6 ₹7.5
-52.1% below
M Cap ₹1,827 Cr
P/E 99.0
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+46.9%
188 128 Operating profit
+48.6%
13.9 9.3 OPM %
+8 bps
7.4% 7.3% Other income
-68.0%
0.2 0.5 Net profit?
+107.4%
5.1 2.5 PAT margin %
+79 bps
2.7% 1.9% EPS (₹)
+100.0%
0.30 0.15
Quality of profit
Pre-tax profit ₹7.8 Cr: core business ₹7.6 Cr, other income ₹0.2 Cr.
M Cap ₹1,823 Cr
P/E 1.8
PEG —
Operating margin contracted 190 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+33.3% +35.8%
2,232 1,644 1,674 Operating profit
+23.4% +25.0%
527 422 427 OPM %
-190 bps -204 bps
23.6% 25.7% 25.5% Other income
— loss narrowed 0.0 -0.1 — Net profit?
+27.5% +33.3%
311 233 244 PAT margin %
-63 bps -26 bps
13.9% 14.2% 14.5% EPS (₹)
+27.3% +33.4%
1.54 1.15 1.21
Quality of profit
Pre-tax profit ₹447 Cr: core business ₹446 Cr, other income ₹0.0 Cr, exceptional & other items ₹0.9 Cr.
Core profit YoY: +27.2%
· reported profit +27.5%
Against its own trend ?
Trend Actual Gap
Sales ₹3,348 ₹2,232
-33.3% below
M Cap ₹1,814 Cr
P/E 1814.3
PEG 100.79
Turnaround: profit against a loss a year ago Operating margin expanded 565 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
+72.3% +36.6%
112 82.0 65.0 Operating profit
+125.0% +28.6%
27.0 21.0 12.0 OPM %
+565 bps -150 bps
24.1% 25.6% 18.5% Other income
+66.7% +233.3%
10.0 3.0 6.0 Net profit?
from loss from loss 3.0 -8.0 -9.0 PAT margin %
+1652 bps +1243 bps
2.7% -9.8% -13.8% EPS (₹)
from loss from loss 0.45 -1.19 -2.26
Quality of profit
Pre-tax profit ₹3.0 Cr: core business −₹7.0 Cr, other income ₹10.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹28.0 Cr.
Borrowings ₹273 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹73.8 ₹112
+51.7% above
M Cap ₹1,810 Cr
P/E 67.9
PEG —
Profit +125% above its own trend Operating margin expanded 248 bps YoY Exceptional items of ₹7.7 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-9.6% -8.4%
562 614 622 Operating profit
+85.6% +19.0%
27.2 22.8 14.6 OPM %
+248 bps +111 bps
4.8% 3.7% 2.4% Other income
-34.6% -30.2%
4.9 7.0 7.4 Net profit?
+36.0% -66.6%
2.0 5.9 1.5 PAT margin %
+12 bps -62 bps
0.4% 1.0% 0.2% EPS (₹)
+30.8% -66.7%
0.17 0.51 0.13
Quality of profit
Pre-tax profit ₹2.9 Cr: core business ₹5.7 Cr, other income ₹4.9 Cr, exceptional & other items −₹7.7 Cr.
Core profit YoY: from loss
· reported profit +36.0%
Cash & debt
FY25 cash from operations ₹69.0 Cr:
428% of FY25 net profit of ₹16.1 Cr.
Borrowings ₹140 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹879 ₹562
-36.0% below Net profit ₹0.9 ₹2.0
+125.2% above
M Cap ₹1,809 Cr
P/E 13.2
PEG 0.51
Profit -59% below its own trend Operating margin expanded 1415 bps YoY 27% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +113%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.7% -0.9%
70.4 71.0 63.0 Operating profit
+210.8% -34.1%
15.5 23.6 5.0 OPM %
+1415 bps -1116 bps
22.1% 33.2% 7.9% Other income
-77.8% -83.3%
2.0 12.0 9.0 Net profit?
-18.2% -37.2%
9.0 14.3 11.0 PAT margin %
-467 bps -740 bps
12.8% 20.2% 17.5% EPS (₹)
-24.8% -38.8%
10.31 16.85 13.71
Quality of profit
Pre-tax profit ₹14.6 Cr: core business ₹10.6 Cr, other income ₹2.0 Cr, exceptional & other items ₹2.0 Cr.
Core profit YoY: +112.8%
· reported profit -18.2%
Cash & debt
FY25 cash from operations ₹65.0 Cr:
229% of FY25 net profit of ₹28.4 Cr.
Borrowings ₹213 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹61.8 ₹70.4
+13.8% above Net profit ₹22.0 ₹9.0
-59.1% below
M Cap ₹1,808 Cr
P/E 13.9
PEG 0.73
Profit -16% below its own trend Operating margin expanded 119 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.6% -2.7%
251 258 227 Operating profit
+18.4% -11.8%
45.0 51.0 38.0 OPM %
+119 bps -184 bps
17.9% 19.8% 16.7% Other income
to loss to loss -2.0 6.0 4.0 Net profit?
+7.4% -19.4%
29.0 36.0 27.0 PAT margin %
-34 bps -240 bps
11.6% 14.0% 11.9% EPS (₹)
+7.4% -19.2%
2.19 2.71 2.04
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹40.0 Cr, other income −₹2.0 Cr.
Core profit YoY: +25.0%
· reported profit +7.4%
Cash & debt
FY25 cash from operations ₹111 Cr:
102% of FY25 net profit of ₹109 Cr.
Borrowings ₹75.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹276 ₹251
-9.0% below Net profit ₹34.4 ₹29.0
-15.7% below
M Cap ₹1,804 Cr
P/E 26.3
PEG —
Profit -62% below its own trend Operating margin contracted 1363 bps YoY FY25 operating cash flow was only 18% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-18.3% +15.5%
200 173 245 Operating profit
-56.7% -17.3%
30.8 37.2 71.1 OPM %
-1363 bps -608 bps
15.3% 21.4% 29.0% Other income
-4.2% -42.5%
2.5 4.4 2.6 Net profit?
-61.9% -31.4%
19.3 28.1 50.6 PAT margin %
-1100 bps -659 bps
9.6% 16.2% 20.6% EPS (₹)
-62.7% -33.4%
3.39 5.09 9.09
Quality of profit
Pre-tax profit ₹27.2 Cr: core business ₹24.6 Cr, other income ₹2.5 Cr.
Core profit YoY: -63.3%
· reported profit -61.9%
Cash & debt
FY25 cash from operations ₹34.0 Cr:
18% of FY25 net profit of ₹184 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹277 ₹200
-27.7% below Net profit ₹51.0 ₹19.3
-62.2% 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, 04:03 IST
