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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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 ₹1,803 Cr
P/E 41.8
PEG —
Profit -53% below its own trend Operating margin contracted 816 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.0% -16.9%
49.0 59.0 49.0 Operating profit
-26.7% -26.7%
11.0 15.0 15.0 OPM %
-816 bps -297 bps
22.4% 25.4% 30.6% Other income
-83.3% +0.0%
1.0 1.0 6.0 Net profit
-60.0% -33.3%
6.0 9.0 15.0 PAT margin %
-1837 bps -301 bps
12.2% 15.3% 30.6% EPS (₹)
-59.7% -28.6%
2.50 3.50 6.20
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹6.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -45.5%
· reported profit -60.0%
Cash & debt
FY25 cash from operations ₹38.0 Cr:
78% of FY25 net profit of ₹49.0 Cr.
Borrowings ₹25.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹49.0 ₹49.0
+0.1% in line Net profit ₹12.9 ₹6.0
-53.3% below
M Cap ₹1,802 Cr
P/E 16.6
PEG 4.14
Profit +39% above its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+35.6% +76.4%
963 546 710 Operating profit
+19.1% +48.1%
60.7 41.0 51.0 OPM %
-87 bps -120 bps
6.3% 7.5% 7.2% Other income
+32.0% +17.2%
2.3 2.0 1.8 Net profit?
+36.5% +66.0%
33.2 20.0 24.3 PAT margin %
+2 bps -21 bps
3.4% 3.7% 3.4% EPS (₹)
+19.6% +66.1%
2.99 1.80 2.50
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹39.7 Cr, other income ₹2.3 Cr.
Core profit YoY: +31.4%
· reported profit +36.5%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-4% of FY25 net profit of ₹73.6 Cr.
Borrowings ₹661 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹808 ₹963
+19.2% above Net profit ₹23.9 ₹33.2
+38.9% above
M Cap ₹1,793 Cr
P/E 41.7
PEG 0.43
Operating margin expanded 1034 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.1% +33.3%
64.0 48.0 52.0 Operating profit
+133.3% +55.6%
14.0 9.0 6.0 OPM %
+1034 bps +312 bps
21.9% 18.8% 11.5% Other income
— +0.0%
1.0 1.0 0.0 Net profit?
+150.0% +11.1%
10.0 9.0 4.0 PAT margin %
+793 bps -312 bps
15.6% 18.8% 7.7% EPS (₹)
+137.9% +13.4%
6.78 5.98 2.85
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹13.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +160.0%
· reported profit +150.0%
Cash & debt
FY25 cash from operations −₹11.0 Cr.
Borrowings ₹9.0 Cr at Mar 2025.
M Cap ₹1,792 Cr
P/E 161.4
PEG —
Profit -87% below its own trend Operating margin contracted 176 bps YoY 94% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-88.7% +5.4%
108 102 957 Operating profit
-89.4% +14.9%
31.5 27.4 296 OPM %
-176 bps +240 bps
29.2% 26.8% 31.0% Other income
-16.7% +21.8%
7.1 5.8 8.5 Net profit?
-90.4% +51.7%
5.0 3.3 52.6 PAT margin %
-83 bps +143 bps
4.7% 3.2% 5.5% EPS (₹)
-4.0% +53.2%
0.95 0.62 0.99
Quality of profit
Pre-tax profit ₹7.5 Cr: core business ₹0.4 Cr, other income ₹7.1 Cr.
Core profit YoY: -99.4%
· reported profit -90.4%
Cash & debt
FY25 cash from operations ₹114 Cr:
148% of FY25 net profit of ₹77.1 Cr.
Borrowings ₹339 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,025 ₹108
-89.5% below Net profit ₹37.7 ₹5.0
-86.6% below
M Cap ₹1,792 Cr
P/E 27.8
PEG 0.52
Profit -95% below its own trend Operating margin contracted 3113 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
-81.0% -79.7%
60.0 296 316 Operating profit
-98.6% -98.8%
1.5 126 107 OPM %
-3113 bps -3999 bps
2.6% 42.6% 33.7% Other income
+126.2% -3.1%
31.0 32.0 13.7 Net profit
-89.4% -89.7%
1.5 15.0 14.5 PAT margin %
-202 bps -249 bps
2.6% 5.1% 4.6% EPS (₹)
+40.3% +37.6%
2.89 2.10 2.06
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹144 Cr, other income ₹31.0 Cr, exceptional & other items ₹115 Cr.
Core profit YoY: loss widened
· reported profit -89.4%
Cash & debt
FY25 cash from operations ₹362 Cr:
552% of FY25 net profit of ₹65.6 Cr.
Borrowings ₹1,413 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹433 ₹60.0
-86.1% below Net profit ₹29.1 ₹1.5
-94.7% below
M Cap ₹1,789 Cr
P/E 12.5
PEG 0.66
Profit +144% above its own trend Operating margin contracted 191 bps YoY 94% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -71%) FY25 operating cash flow was only 37% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-26.0% -22.7%
282 365 381 Operating profit
-40.5% -57.7%
22.0 52.0 37.0 OPM %
-191 bps -645 bps
7.8% 14.2% 9.7% Other income
— +525.0%
75.0 12.0 2.0 Net profit
+342.9% +77.1%
62.0 35.0 14.0 PAT margin %
+1831 bps +1240 bps
22.0% 9.6% 3.7% EPS (₹)
+327.8% +77.5%
11.68 6.58 2.73
Quality of profit
Pre-tax profit ₹80.0 Cr: core business ₹5.0 Cr, other income ₹75.0 Cr.
Core profit YoY: -70.6%
· reported profit +342.9%
Cash & debt
FY25 cash from operations ₹204 Cr:
37% of FY25 net profit of ₹557 Cr.
Borrowings ₹458 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹381 ₹282
-26.0% below Net profit ₹25.4 ₹62.0
+144.3% above
M Cap ₹1,780 Cr
P/E 18.5
PEG 1.54
Profit -27% below its own trend Operating margin contracted 160 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-4.3% +118.3%
127 58.3 133 Operating profit
-8.0% —
49.5 2.7 53.8 OPM %
-160 bps +3427 bps
38.9% 4.6% 40.5% Other income
+53.5% +40.6%
6.3 4.5 4.1 Net profit
-6.4% —
37.4 2.8 39.9 PAT margin %
-67 bps +2459 bps
29.3% 4.7% 30.0% EPS (₹)
+87.2% —
12.26 0.45 6.55
Quality of profit
Pre-tax profit ₹48.6 Cr: core business ₹42.3 Cr, other income ₹6.3 Cr.
Core profit YoY: -14.4%
· reported profit -6.4%
Cash & debt
FY25 cash from operations ₹109 Cr:
118% of FY25 net profit of ₹92.0 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹127
-9.2% below Net profit ₹51.4 ₹37.4
-27.3% below
M Cap ₹1,778 Cr
P/E 31.3
PEG 0.95
Profit +999% above its own trend Operating margin expanded 1178 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+43.1% +6.0%
128 120 89.1 Operating profit
+337.8% +30.1%
22.3 17.2 5.1 OPM %
+1178 bps +323 bps
17.5% 14.3% 5.7% Other income
from loss +124.6%
4.6 2.1 -0.1 Net profit?
— +63.0%
15.7 9.6 1.3 PAT margin %
+1087 bps +430 bps
12.3% 8.0% 1.4% EPS (₹)
— +63.0%
25.40 15.58 2.07
Quality of profit
Pre-tax profit ₹20.7 Cr: core business ₹16.1 Cr, other income ₹4.6 Cr.
Cash & debt
FY25 cash from operations ₹36.0 Cr:
169% of FY25 net profit of ₹21.3 Cr.
Borrowings ₹77.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹96.3 ₹128
+32.4% above Net profit ₹0.7 ₹15.7
+999.0% above
M Cap ₹1,770 Cr
P/E 35.9
PEG 3.59
Profit +97% above its own trend Operating margin expanded 159 bps YoY Profit grew faster than the core business (core profit +97%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.7% +14.1%
137 120 113 Operating profit
+30.9% +28.3%
31.3 24.4 23.9 OPM %
+159 bps +251 bps
22.8% 20.3% 21.2% Other income
— -30.6%
3.9 5.5 0.3 Net profit?
+149.1% +35.2%
16.3 12.1 6.5 PAT margin %
+606 bps +185 bps
11.9% 10.0% 5.8% EPS (₹)
+133.4% +35.2%
14.17 10.48 6.07
Quality of profit
Pre-tax profit ₹21.4 Cr: core business ₹17.5 Cr, other income ₹3.9 Cr.
Core profit YoY: +97.1%
· reported profit +149.1%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
236% of FY25 net profit of ₹24.2 Cr.
Borrowings ₹314 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹137
+26.6% above Net profit ₹8.3 ₹16.3
+96.6% above
M Cap ₹1,763 Cr
P/E 31.5
PEG —
Turnaround: profit against a loss a year ago Gross NPA down 67 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
-3.0% +0.6%
160 159 165 Net interest income
+0.9% +0.0%
109 109 108 Other income
— —
0.0 0.0 0.0 Net profit?
from loss +175.0%
22.0 8.0 -7.0 EPS (₹)
from loss +177.6%
21.10 7.60 -6.92 Gross NPA %
-67 bps -24 bps
3.5% 3.7% 4.1% Net NPA %
+12 bps +29 bps
0.8% 0.5% 0.7%
Against its own trend ?
Trend Actual Gap
NII ₹110 ₹109
-1.1% in line
M Cap ₹1,757 Cr
P/E 1.2
PEG 0.01
Profit +14% above its own trend All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 10% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-98.7% -9.1%
1.8 2.0 138 Operating profit
loss narrowed loss widened -10.0 -7.0 -42.2 Other income
+6.8% +361.3%
203 44.0 190 Net profit?
+127.6% —
210 14.0 92.4 EPS (₹)
+127.6% —
42.42 2.83 18.64
Quality of profit
Pre-tax profit ₹190 Cr: core business −₹17.3 Cr, other income ₹203 Cr, exceptional & other items ₹3.9 Cr.
Core profit YoY: loss narrowed
· reported profit +127.6%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
10% of FY25 net profit of ₹157 Cr.
Borrowings ₹1,115 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.1 ₹1.8
-97.4% below Net profit ₹185 ₹210
+13.8% above
Profit +14% above its own trend Operating margin expanded 339 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.9% +1.3%
235 232 210 Operating profit
+17.1% +1.2%
179 177 153 OPM %
+339 bps -5 bps
76.2% 76.3% 72.9% Other income
+23.3% +23.3%
8.6 7.0 7.0 Net profit?
+22.3% +4.9%
103 98.0 84.0 PAT margin %
+373 bps +149 bps
43.7% 42.2% 40.0% EPS (₹)
+20.1% -2.0%
11.05 11.27 9.20
Quality of profit
Pre-tax profit ₹149 Cr: core business ₹143 Cr, other income ₹8.6 Cr, exceptional & other items −₹2.2 Cr.
Core profit YoY: +33.5%
· reported profit +22.3%
Cash & debt
FY25 cash from operations ₹540 Cr:
160% of FY25 net profit of ₹338 Cr.
Borrowings ₹932 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹182 ₹235
+29.0% above Net profit ₹90.5 ₹103
+13.6% above
M Cap ₹1,752 Cr
P/E 12.8
PEG 0.38
Profit +205% above its own trend Operating margin expanded 447 bps YoY Core business grew faster than reported profit (core profit +256%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.6% -0.3%
623 625 619 Operating profit
+107.7% -1.8%
54.0 55.0 26.0 OPM %
+447 bps -13 bps
8.7% 8.8% 4.2% Other income
+33.3% -11.1%
8.0 9.0 6.0 Net profit
+150.0% -18.9%
30.0 37.0 12.0 PAT margin %
+288 bps -110 bps
4.8% 5.9% 1.9% EPS (₹)
+158.7% -17.7%
4.01 4.87 1.55
Quality of profit
Pre-tax profit ₹41.0 Cr: core business ₹32.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +255.6%
· reported profit +150.0%
Cash & debt
Borrowings ₹144 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹606 ₹623
+2.8% in line Net profit ₹9.8 ₹30.0
+204.7% above
M Cap ₹1,751 Cr
P/E 175.3
PEG 7.62
Profit -13% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.2% +18.8%
224 189 200 Operating profit
+44.2% +15.4%
5.9 5.1 4.1 OPM %
+58 bps -8 bps
2.6% 2.7% 2.0% Other income
— +149.9%
0.4 0.2 0.0 Net profit?
+74.5% +1.2%
1.9 1.9 1.1 PAT margin %
+30 bps -15 bps
0.9% 1.0% 0.5% EPS (₹)
+75.8% +0.9%
1.16 1.15 0.66
Quality of profit
Pre-tax profit ₹2.5 Cr: core business ₹2.1 Cr, other income ₹0.4 Cr.
Core profit YoY: +65.3%
· reported profit +74.5%
Cash & debt
FY25 cash from operations ₹9.0 Cr:
118% of FY25 net profit of ₹7.6 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹230 ₹224
-2.6% in line Net profit ₹2.2 ₹1.9
-12.7% below
M Cap ₹1,744 Cr
P/E 59.7
PEG —
Operating margin contracted 246 bps YoY 60% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.1% +0.0%
460 460 433 Operating profit
-17.2% +20.9%
40.4 33.4 48.8 OPM %
-246 bps +152 bps
8.8% 7.3% 11.3% Other income
+243.5% +0.0%
4.6 4.6 1.3 Net profit?
loss widened loss narrowed -8.2 -14.9 -7.5 PAT margin %
-6 bps +146 bps
-1.8% -3.3% -1.7% EPS (₹)
loss widened loss widened -1.57 -0.76 -0.24
Quality of profit
Pre-tax profit ₹6.6 Cr: core business ₹2.7 Cr, other income ₹4.6 Cr, exceptional & other items −₹0.6 Cr.
Cash & debt
FY25 cash from operations ₹27.0 Cr.
Borrowings ₹681 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹472 ₹460
-2.5% in line
M Cap ₹1,734 Cr
P/E 60.8
PEG —
Profit +64% above its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.0% -7.8%
5.7 6.1 6.0 Operating profit
loss narrowed loss narrowed -5.0 -14.9 -6.8 OPM %
— —
-88.3% — — Other income
-2.2% -2.4%
20.9 21.4 21.4 Net profit
+9.9% +165.6%
11.1 4.2 10.1 EPS (₹)
+9.1% +166.7%
0.24 0.09 0.22
Quality of profit
Pre-tax profit ₹15.4 Cr: core business −₹5.5 Cr, other income ₹20.9 Cr.
Core profit YoY: loss narrowed
· reported profit +9.9%
Cash & debt
FY25 cash from operations −₹49.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.3 ₹5.7
-32.0% below Net profit ₹6.8 ₹11.1
+64.2% above
M Cap ₹1,733 Cr
P/E 45.9
PEG 0.69
Profit -67% below its own trend Operating margin expanded 241 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-10.9% -5.6%
639 677 717 Operating profit
+69.4% +42.8%
32.5 22.8 19.2 OPM %
+241 bps +173 bps
5.1% 3.4% 2.7% Other income
-70.4% -88.3%
0.1 1.2 0.5 Net profit?
-33.2% from loss 5.5 -74.8 8.2 PAT margin %
-29 bps +1190 bps
0.9% -11.0% 1.1% EPS (₹)
-52.4% from loss 0.10 -1.32 0.21
Quality of profit
Pre-tax profit ₹7.3 Cr: core business ₹7.9 Cr, other income ₹0.1 Cr, exceptional & other items −₹0.7 Cr.
Core profit YoY: from loss
· reported profit -33.2%
Cash & debt
FY25 cash from operations ₹189 Cr.
Borrowings ₹294 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹694 ₹639
-8.0% below Net profit ₹16.4 ₹5.5
-66.6% below
M Cap ₹1,730 Cr
P/E 43.5
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-47.5%
42.0 80.0 Operating profit
-100.0%
0.0 32.0 OPM %
-4000 bps
0.0% 40.0% Other income
from loss 13.0 -12.0 Net profit?
-46.2%
7.0 13.0 PAT margin %
+42 bps
16.7% 16.2% EPS (₹)
-86.0%
0.71 5.06
Quality of profit
Pre-tax profit ₹11.0 Cr: core business −₹1.0 Cr, other income ₹13.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹1,730 Cr
P/E 18.6
PEG —
Operating margin expanded 952 bps YoY Core business grew faster than reported profit (core profit +37%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.7% -7.7%
84.0 91.0 91.0 Operating profit
+23.1% -8.6%
32.0 35.0 26.0 OPM %
+952 bps -37 bps
38.1% 38.5% 28.6% Other income
-40.0% +0.0%
6.0 6.0 10.0 Net profit
+4.3% -11.1%
24.0 27.0 23.0 PAT margin %
+330 bps -110 bps
28.6% 29.7% 25.3% EPS (₹)
+3.3% -10.4%
2.16 2.41 2.09
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹26.0 Cr, other income ₹6.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +36.8%
· reported profit +4.3%
Cash & debt
FY25 cash from operations ₹112 Cr:
116% of FY25 net profit of ₹96.7 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹83.1 ₹84.0
+1.1% in line Net profit ₹24.8 ₹24.0
-3.2% in line
M Cap ₹1,730 Cr
P/E 21.2
PEG —
Into loss: a profit a year ago Operating margin contracted 667 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-16.6% -0.0%
465 465 558 Operating profit
-82.1% -58.0%
8.5 20.2 47.4 OPM %
-667 bps -252 bps
1.8% 4.3% 8.5% Other income
-30.9% -3.8%
5.4 5.6 7.8 Net profit?
to loss loss widened -10.9 -2.0 28.5 PAT margin %
-745 bps -190 bps
-2.3% -0.4% 5.1% EPS (₹)
to loss loss widened -3.52 -0.65 9.27
Quality of profit
Pre-tax profit −₹12.9 Cr: core business −₹18.3 Cr, other income ₹5.4 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹261 Cr:
240% of FY25 net profit of ₹109 Cr.
Borrowings ₹269 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹466 ₹465
-0.1% in line
M Cap ₹1,728 Cr
P/E 17.7
PEG 0.98
Profit -34% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.8% -12.0%
181 206 175 Operating profit
+3.0% -21.5%
46.4 59.2 45.1 OPM %
-20 bps -309 bps
25.6% 28.7% 25.8% Other income
-59.2% -9.9%
3.8 4.2 9.2 Net profit?
-21.5% -36.3%
15.2 23.9 19.4 PAT margin %
-271 bps -321 bps
8.4% 11.6% 11.1% EPS (₹)
-21.5% -36.0%
4.72 7.38 6.01
Quality of profit
Pre-tax profit ₹19.7 Cr: core business ₹16.0 Cr, other income ₹3.8 Cr.
Core profit YoY: -1.5%
· reported profit -21.5%
Cash & debt
FY25 cash from operations ₹87.0 Cr:
112% of FY25 net profit of ₹77.6 Cr.
Borrowings ₹204 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹194 ₹181
-6.6% below Net profit ₹23.0 ₹15.2
-33.7% below
M Cap ₹1,726 Cr
P/E 16.3
PEG 2.72
Profit -41% below its own trend Operating margin contracted 104 bps YoY Exceptional items of ₹18.9 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.0% +2.8%
220 214 206 Operating profit
+0.1% +44.4%
33.2 23.0 33.2 OPM %
-104 bps +435 bps
15.1% 10.7% 16.1% Other income
-2.9% -5.5%
15.1 16.0 15.6 Net profit?
-40.8% -20.4%
20.7 26.0 35.0 PAT margin %
-759 bps -274 bps
9.4% 12.1% 17.0% EPS (₹)
-40.8% -21.3%
7.86 9.99 13.28
Quality of profit
Pre-tax profit ₹24.7 Cr: core business ₹28.4 Cr, other income ₹15.1 Cr, exceptional & other items −₹18.9 Cr.
Core profit YoY: -3.5%
· reported profit -40.8%
Cash & debt
FY25 cash from operations ₹151 Cr:
93% of FY25 net profit of ₹163 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹221 ₹220
-0.5% in line Net profit ₹35.2 ₹20.7
-41.2% below
M Cap ₹1,726 Cr
P/E 97.8
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+110.3%
206 97.8 Operating profit
+140.3%
24.3 10.1 OPM %
+147 bps
11.8% 10.3% Other income
-68.0%
0.2 0.8 Net profit?
from loss 8.0 -3.9 PAT margin %
+787 bps
3.9% -4.0% EPS (₹)
from loss 2.59 -1.28
Quality of profit
Pre-tax profit ₹11.8 Cr: core business ₹11.6 Cr, other income ₹0.2 Cr.
Cash & debt
FY25 cash from operations ₹31.0 Cr.
Borrowings ₹172 Cr at Mar 2025.
M Cap ₹1,720 Cr
P/E 322.9
PEG —
Into loss: a profit a year ago Profit -154% below its own trend Operating margin contracted 487 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.0% -7.3%
252 271 223 Operating profit
-41.3% -23.3%
13.2 17.2 22.6 OPM %
-487 bps -110 bps
5.3% 6.4% 10.1% Other income
— -31.5%
2.1 3.0 0.1 Net profit?
to loss to loss -1.9 0.7 7.1 PAT margin %
-397 bps -103 bps
-0.8% 0.3% 3.2% EPS (₹)
to loss to loss -0.57 0.22 2.12
Quality of profit
Pre-tax profit −₹1.8 Cr: core business −₹3.9 Cr, other income ₹2.1 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹34.0 Cr:
-99% of FY25 net profit of ₹34.3 Cr.
Borrowings ₹353 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹253 ₹252
-0.6% in line Net profit ₹3.6 −₹1.9
-153.7% below
Into loss: a profit a year ago Profit -132% below its own trend Operating margin contracted 575 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
-39.5% -37.2%
121 193 200 Operating profit
to loss loss narrowed -5.1 -12.8 3.0 OPM %
-575 bps +240 bps
-4.2% -6.6% 1.5% Other income
-41.1% -11.1%
10.7 12.0 18.2 Net profit?
to loss loss narrowed -2.4 -9.0 10.0 PAT margin %
-701 bps +268 bps
-2.0% -4.7% 5.0% EPS (₹)
to loss loss narrowed -0.22 -0.81 0.90
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹10.0 Cr, other income ₹10.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹496 Cr:
1276% of FY25 net profit of ₹38.9 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹121
-39.3% below Net profit ₹7.5 −₹2.4
-132.4% below
55% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 39% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.5% +100.6%
428 213 377 Operating profit
+21.8% —
29.4 0.5 24.1 OPM %
+47 bps +661 bps
6.9% 0.3% 6.4% Other income
-43.1% -55.0%
2.8 6.2 4.9 Net profit?
+3.2% from loss 2.6 -22.2 2.5 PAT margin %
-6 bps +1104 bps
0.6% -10.4% 0.7% EPS (₹)
+3.8% from loss 0.27 -2.32 0.26
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹2.3 Cr, other income ₹2.8 Cr.
Core profit YoY: from loss
· reported profit +3.2%
Cash & debt
FY25 cash from operations ₹31.0 Cr:
39% of FY25 net profit of ₹78.7 Cr.
Borrowings ₹416 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹392 ₹428
+9.2% above Net profit ₹2.4 ₹2.6
+6.2% in line
M Cap ₹1,696 Cr
P/E 7.6
PEG 0.35
Profit -63% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
-22.2% -6.8%
123 132 158 Net interest income
-20.0% -13.5%
64.0 74.0 80.0 Other income
— —
1.0 0.0 0.0 Net profit
-26.9% -44.3%
49.0 88.0 67.0 EPS (₹)
-27.6% -44.5%
0.76 1.37 1.05
Against its own trend ?
Trend Actual Gap
NII ₹74.0 ₹64.0
-13.5% below Net profit ₹134 ₹49.0
-63.4% below
M Cap ₹1,694 Cr
P/E 25.6
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-19.8%
51.8 64.5 Operating profit
-9.0%
20.1 22.1 OPM %
+459 bps
38.9% 34.3% Other income
+110.2%
2.7 1.3 Net profit?
+65.7%
15.4 9.3 PAT margin %
+1534 bps
29.7% 14.4% EPS (₹)
+61.1%
1.53 0.95
Quality of profit
Pre-tax profit ₹21.6 Cr: core business ₹18.9 Cr, other income ₹2.7 Cr.
M Cap ₹1,694 Cr
P/E 29.6
PEG 2.69
Operating margin expanded 967 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+85.6% -25.8%
89.6 121 48.3 Operating profit
+237.1% +57.5%
19.3 12.2 5.7 OPM %
+967 bps +1139 bps
21.5% 10.1% 11.9% Other income
from loss -56.1%
2.5 5.7 -1.5 Net profit
— +48.0%
8.5 5.7 0.8 PAT margin %
+795 bps +474 bps
9.5% 4.8% 1.6% EPS (₹)
+333.8% -71.8%
3.21 11.39 0.74
Quality of profit
Pre-tax profit ₹3.4 Cr: core business ₹12.3 Cr, other income ₹2.5 Cr, exceptional & other items −₹11.5 Cr.
Core profit YoY: +399.6%
Cash & debt
FY25 cash from operations ₹18.0 Cr.
Borrowings ₹128 Cr at Mar 2025.
M Cap ₹1,693 Cr
P/E 25.1
PEG 0.49
Profit -48% below its own trend Operating margin contracted 771 bps YoY Profit grew faster than the core business (core profit -40%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+42.1% +18.2%
242 204 170 Operating profit
-26.9% -14.6%
19.7 23.1 27.0 OPM %
-771 bps -313 bps
8.2% 11.3% 15.9% Other income
from loss +81.6%
3.0 1.6 -2.0 Net profit?
-1.5% -5.5%
10.8 11.5 11.0 PAT margin %
-198 bps -113 bps
4.5% 5.6% 6.5% EPS (₹)
-7.9% -5.2%
2.56 2.70 2.78
Quality of profit
Pre-tax profit ₹13.8 Cr: core business ₹10.8 Cr, other income ₹3.0 Cr.
Core profit YoY: -39.8%
· reported profit -1.5%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
129% of FY25 net profit of ₹37.9 Cr.
Borrowings ₹45.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹248 ₹242
-2.8% in line Net profit ₹20.9 ₹10.8
-48.2% 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
