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
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q3 FY26 scoreboard
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
Page 41 of 144
Tap ☆ on any company to add it to My companies. Your list stays in this browser.
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.9% -6.6%
416 445 447 Operating profit
loss narrowed loss widened -15.1 -3.6 -20.2 OPM %
+90 bps -281 bps
-3.6% -0.8% -4.5% Other income
— -52.7%
4.0 8.4 0.2 Net profit?
loss widened loss widened -46.6 -33.4 -42.0 PAT margin %
-179 bps -370 bps
-11.2% -7.5% -9.4% EPS (₹)
loss narrowed loss widened -3.92 -3.07 -4.10
Quality of profit
Pre-tax profit −₹55.3 Cr: core business −₹59.2 Cr, other income ₹4.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹66.0 Cr.
Borrowings ₹1,786 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹392 ₹416
+6.0% above
M Cap ₹1,690 Cr
P/E 13.5
PEG 0.45
Profit -54% below its own trend Operating margin contracted 165 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.5% -39.6%
385 638 358 Operating profit
-12.9% -69.8%
27.0 89.5 31.0 OPM %
-165 bps -702 bps
7.0% 14.0% 8.7% Other income
— -60.1%
1.0 2.5 0.0 Net profit?
-41.2% -83.1%
10.0 59.1 17.0 PAT margin %
-215 bps -667 bps
2.6% 9.3% 4.7% EPS (₹)
-39.5% -82.2%
3.61 20.31 5.97
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹13.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -40.9%
· reported profit -41.2%
Cash & debt
FY25 cash from operations ₹93.0 Cr:
66% of FY25 net profit of ₹141 Cr.
Borrowings ₹105 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹370 ₹385
+3.9% in line Net profit ₹21.8 ₹10.0
-54.2% below
M Cap ₹1,689 Cr
P/E 53.8
PEG 2.07
Profit -95% below its own trend Operating margin contracted 2259 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
-1.7% -1.5%
75.8 76.9 77.1 Operating profit
-52.9% -47.5%
15.8 30.0 33.4 OPM %
-2259 bps -1820 bps
20.8% 39.0% 43.4% Other income
+225.4% +57.0%
6.0 3.8 1.9 Net profit?
-94.1% -91.3%
1.1 12.1 17.9 PAT margin %
-2183 bps -1428 bps
1.4% 15.7% 23.2% EPS (₹)
-96.5% -94.5%
0.16 2.89 4.51
Quality of profit
Pre-tax profit ₹2.1 Cr: core business −₹3.9 Cr, other income ₹6.0 Cr.
Core profit YoY: to loss
· reported profit -94.1%
Cash & debt
FY25 cash from operations −₹53.0 Cr:
-100% of FY25 net profit of ₹53.0 Cr.
Borrowings ₹122 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹98.8 ₹75.8
-23.3% below Net profit ₹21.7 ₹1.1
-95.2% below
M Cap ₹1,686 Cr
P/E 16.6
PEG 0.20
Profit +132% above its own trend Operating margin expanded 396 bps YoY 47% of pre-tax profit came from other income and one-off items Exceptional items of ₹11.7 Cr in the quarter Profit grew faster than the core business (core profit +86%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.6% -1.0%
144 145 121 Operating profit
+69.4% +2.6%
18.9 18.5 11.2 OPM %
+396 bps +47 bps
13.2% 12.7% 9.2% Other income
+582.9% +314.2%
0.9 0.2 0.1 Net profit
+245.3% +72.1%
20.1 11.7 5.8 PAT margin %
+917 bps +593 bps
14.0% 8.0% 4.8% EPS (₹)
+245.3% +72.1%
6.18 3.59 1.79
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹14.4 Cr, other income ₹0.9 Cr, exceptional & other items ₹11.7 Cr.
Core profit YoY: +86.1%
· reported profit +245.3%
Cash & debt
FY25 cash from operations −₹16.0 Cr:
-65% of FY25 net profit of ₹24.7 Cr.
Borrowings ₹73.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹139 ₹144
+3.2% in line Net profit ₹8.6 ₹20.1
+132.1% above
M Cap ₹1,679 Cr
P/E 18.2
PEG 0.39
Profit -15% below its own trend Core business grew faster than reported profit (core profit +32%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+20.8% +9.1%
474 434 392 Operating profit
+29.2% +9.3%
72.0 65.9 55.7 OPM %
+100 bps +2 bps
15.2% 15.2% 14.2% Other income
to loss to loss -5.0 0.8 1.0 Net profit?
+10.6% -10.5%
20.0 22.4 18.1 PAT margin %
-39 bps -93 bps
4.2% 5.1% 4.6% EPS (₹)
+7.5% -12.7%
3.02 3.46 2.81
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹31.0 Cr, other income −₹5.0 Cr.
Core profit YoY: +32.1%
· reported profit +10.6%
Cash & debt
FY25 cash from operations ₹138 Cr:
146% of FY25 net profit of ₹94.4 Cr.
Borrowings ₹639 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹413 ₹474
+14.9% above Net profit ₹23.5 ₹20.0
-14.9% below
M Cap ₹1,672 Cr
P/E 8.5
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+38.6%
575 415 Operating profit
+66.2%
74.8 45.0 OPM %
+215 bps
13.0% 10.8% Other income
-36.8%
6.9 11.0 Net profit?
+37.1%
50.7 37.0 PAT margin %
-10 bps
8.8% 8.9% EPS (₹)
+35.1%
2.27 1.68
Quality of profit
Pre-tax profit ₹62.0 Cr: core business ₹55.0 Cr, other income ₹6.9 Cr.
M Cap ₹1,668 Cr
P/E 426.7
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 443 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
+1.0% +129.3%
1,075 469 1,064 Operating profit
-73.4% from loss 17.0 -2.7 64.0 OPM %
-443 bps +215 bps
1.6% -0.6% 6.0% Other income
+18.7% +200.5%
203 67.6 171 Net profit?
from loss from loss 34.0 -27.1 -9.0 PAT margin %
+401 bps +894 bps
3.2% -5.8% -0.8% EPS (₹)
from loss from loss 9.15 -5.82 -0.57
Quality of profit
Pre-tax profit ₹50.0 Cr: core business −₹153 Cr, other income ₹203 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹457 Cr:
457% of FY25 net profit of ₹100 Cr.
Borrowings ₹1,943 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹985 ₹1,075
+9.2% above
M Cap ₹1,659 Cr
P/E 8.7
PEG 0.28
Into loss: a profit a year ago Profit -125% below its own trend Operating margin contracted 401 bps YoY Exceptional items of ₹3.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.9% +1.5%
242 238 239 Operating profit
-11.1% -22.5%
71.7 92.6 80.7 OPM %
-401 bps -921 bps
29.7% 38.9% 33.7% Other income
to loss to loss -80.5 121 14.6 Net profit?
to loss to loss -33.4 133 66.0 PAT margin %
-4136 bps -6950 bps
-13.8% 55.7% 27.5% EPS (₹)
to loss to loss -11.52 45.73 22.76
Quality of profit
Pre-tax profit −₹45.5 Cr: core business ₹31.6 Cr, other income −₹80.5 Cr, exceptional & other items ₹3.4 Cr.
Core profit YoY: -37.4%
Cash & debt
FY25 cash from operations ₹864 Cr:
399% of FY25 net profit of ₹216 Cr.
Borrowings ₹164 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹322 ₹242
-24.9% below Net profit ₹132 −₹33.4
-125.3% below
M Cap ₹1,658 Cr
P/E 31.2
PEG 3.47
Profit -30% below its own trend Operating margin expanded 102 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.1% +25.3%
94.0 75.0 99.0 Operating profit
+0.0% +5.6%
19.0 18.0 19.0 OPM %
+102 bps -379 bps
20.2% 24.0% 19.2% Other income
— -100.0%
0.0 1.0 0.0 Net profit
-7.7% +9.1%
12.0 11.0 13.0 PAT margin %
-37 bps -190 bps
12.8% 14.7% 13.1% EPS (₹)
-2.0% +16.4%
2.49 2.14 2.54
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹16.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +0.0%
· reported profit -7.7%
Cash & debt
FY25 cash from operations −₹5.0 Cr:
-12% of FY25 net profit of ₹43.5 Cr.
Borrowings ₹66.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹122 ₹94.0
-23.1% below Net profit ₹17.0 ₹12.0
-29.6% below
M Cap ₹1,652 Cr
P/E 22.0
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+5.9%
163 154 Operating profit
+2.4%
30.7 30.0 OPM %
-63 bps
18.8% 19.5% Other income
-12.1%
2.6 3.0 Net profit?
-1.3%
20.7 21.0 PAT margin %
-93 bps
12.7% 13.6% EPS (₹)
+0.6%
5.27 5.24
Quality of profit
Pre-tax profit ₹27.8 Cr: core business ₹25.2 Cr, other income ₹2.6 Cr.
Profit -56% below its own trend Operating margin contracted 404 bps YoY 60% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -64%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.1% -7.0%
80.0 86.0 65.0 Operating profit
+0.0% -12.5%
14.0 16.0 14.0 OPM %
-404 bps -110 bps
17.5% 18.6% 21.5% Other income
-37.5% +150.0%
5.0 2.0 8.0 Net profit
-40.0% -18.2%
9.0 11.0 15.0 PAT margin %
-1183 bps -154 bps
11.2% 12.8% 23.1% EPS (₹)
-35.7% -14.0%
2.83 3.29 4.40
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹4.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -63.6%
· reported profit -40.0%
Cash & debt
FY25 cash from operations −₹35.0 Cr:
-81% of FY25 net profit of ₹43.0 Cr.
Borrowings ₹328 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹85.5 ₹80.0
-6.4% below Net profit ₹20.2 ₹9.0
-55.5% below
M Cap ₹1,644 Cr
P/E 11.5
PEG 1.44
Profit +11% above its own trend 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.5% -5.4%
270 286 256 Operating profit
+2.4% +29.3%
42.8 33.1 41.8 OPM %
-48 bps +425 bps
15.8% 11.6% 16.3% Other income
+32.2% +4.9%
9.5 9.1 7.2 Net profit?
-1.2% +43.6%
40.0 27.9 40.5 PAT margin %
-101 bps +505 bps
14.8% 9.7% 15.8% EPS (₹)
-1.3% +43.5%
24.08 adj. 16.77adj. 24.39
EPS restated for the 1:1 bonus of Dec 2025 and the ₹10 to ₹5 split of Dec 2025: Sep 2025 ₹67.10 to ₹16.77; Dec 2024 ₹97.54 to ₹24.39.
Quality of profit
Pre-tax profit ₹51.7 Cr: core business ₹34.7 Cr, other income ₹9.5 Cr, exceptional & other items ₹7.5 Cr.
Core profit YoY: +3.2%
· reported profit -1.2%
Cash & debt
FY25 cash from operations ₹172 Cr:
122% of FY25 net profit of ₹141 Cr.
Borrowings ₹85.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹268 ₹270
+0.9% in line Net profit ₹36.2 ₹40.0
+10.5% above
M Cap ₹1,641 Cr
P/E 10.9
PEG 1.09
Profit +22% above its own trend 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.4% -1.4%
2,990 3,032 2,921 Operating profit
+20.3% +10.5%
42.0 38.0 34.9 OPM %
+21 bps +15 bps
1.4% 1.3% 1.2% Other income
+76.1% +100.0%
18.0 9.0 10.2 Net profit?
+48.0% +50.0%
42.0 28.0 28.4 PAT margin %
+43 bps +48 bps
1.4% 0.9% 1.0% EPS (₹)
+46.8% +51.6%
24.88 16.41 16.95
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹25.0 Cr, other income ₹18.0 Cr.
Core profit YoY: +36.3%
· reported profit +48.0%
Cash & debt
FY25 cash from operations ₹104 Cr:
94% of FY25 net profit of ₹110 Cr.
Borrowings ₹118 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,353 ₹2,990
-10.8% below Net profit ₹34.3 ₹42.0
+22.5% above
M Cap ₹1,640 Cr
P/E 25.4
PEG 0.87
Profit -14% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.7% +4.0%
208 200 175 Operating profit
+23.7% +5.7%
23.0 21.8 18.6 OPM %
+45 bps +17 bps
11.1% 10.9% 10.6% Other income
-3.4% +270.6%
3.0 0.8 3.1 Net profit?
+12.1% +1.0%
15.0 14.8 13.4 PAT margin %
-43 bps -21 bps
7.2% 7.4% 7.6% EPS (₹)
+13.5% +2.4%
6.39 6.24 5.63
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹16.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +15.8%
· reported profit +12.1%
Cash & debt
FY25 cash from operations ₹84.0 Cr:
158% of FY25 net profit of ₹53.3 Cr.
Borrowings ₹32.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹196 ₹208
+6.1% above Net profit ₹17.5 ₹15.0
-14.1% below
M Cap ₹1,637 Cr
P/E 46.7
PEG 0.77
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+30.5% -1.3%
77.7 78.7 59.5 Operating profit
+26.9% -4.0%
23.2 24.1 18.3 OPM %
-87 bps -83 bps
29.8% 30.6% 30.7% Other income
+3.5% -27.1%
0.6 0.8 0.6 Net profit?
+21.0% -18.0%
7.2 8.8 6.0 PAT margin %
-74 bps -190 bps
9.3% 11.2% 10.1% EPS (₹)
+22.0% -16.8%
1.44 1.73 1.18
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹9.4 Cr, other income ₹0.6 Cr.
Core profit YoY: +26.8%
· reported profit +21.0%
Cash & debt
FY25 cash from operations ₹63.0 Cr:
203% of FY25 net profit of ₹31.0 Cr.
Borrowings ₹89.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹70.2 ₹77.7
+10.7% above Net profit ₹7.0 ₹7.2
+3.8% in line
M Cap ₹1,635 Cr
P/E 37.5
PEG —
Operating margin contracted 112 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.1% +2.6%
79.0 77.0 85.0 Operating profit
-10.0% +17.4%
27.0 23.0 30.0 OPM %
-112 bps +431 bps
34.2% 29.9% 35.3% Other income
— —
0.0 0.0 0.0 Net profit
-25.0% +33.3%
12.0 9.0 16.0 PAT margin %
-363 bps +350 bps
15.2% 11.7% 18.8% EPS (₹)
-23.8% +30.3%
2.62 2.01 3.44
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹17.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -22.7%
· reported profit -25.0%
Cash & debt
FY25 cash from operations ₹98.0 Cr:
144% of FY25 net profit of ₹68.0 Cr.
Borrowings ₹217 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.9 ₹79.0
+21.7% above Net profit ₹13.3 ₹12.0
-10.0% in line
M Cap ₹1,631 Cr
P/E 22.1
PEG —
32% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +114%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+38.3% +39.0%
912 656 659 Operating profit
+99.1% +5.6%
24.3 23.0 12.2 OPM %
+81 bps -84 bps
2.7% 3.5% 1.9% Other income
-25.5% +114.5%
8.6 4.0 11.5 Net profit?
+36.9% +23.0%
23.4 19.0 17.1 PAT margin %
-3 bps -33 bps
2.6% 2.9% 2.6% EPS (₹)
+27.9% +7.1%
13.52 12.62 10.57
Quality of profit
Pre-tax profit ₹26.4 Cr: core business ₹17.9 Cr, other income ₹8.6 Cr.
Core profit YoY: +114.2%
· reported profit +36.9%
Against its own trend ?
Trend Actual Gap
Sales ₹860 ₹912
+6.0% above Net profit ₹24.5 ₹23.4
-4.7% in line
₹ Cr
Dec 2025
Sales
35.6 Operating profit
12.3 OPM %
34.5% Other income
0.2 Net profit?
5.2 PAT margin %
14.5% EPS (₹)
0.10
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 ₹10.6 Cr: core business ₹10.4 Cr, other income ₹0.2 Cr.
M Cap ₹1,624 Cr
P/E 86.5
PEG —
56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.3% -7.3%
324 349 378 Operating profit
-19.0% +20.6%
23.4 19.4 28.9 OPM %
-42 bps +167 bps
7.2% 5.6% 7.7% Other income
-9.2% +186.7%
1.3 0.5 1.4 Net profit
-56.5% from loss 1.5 -0.4 3.4 PAT margin %
-44 bps +57 bps
0.5% -0.1% 0.9% EPS (₹)
-64.3% from loss 0.25 -0.07 0.70
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹1.0 Cr, other income ₹1.3 Cr.
Core profit YoY: -73.1%
· reported profit -56.5%
Cash & debt
FY25 cash from operations ₹108 Cr:
928% of FY25 net profit of ₹11.6 Cr.
Borrowings ₹202 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹360 ₹324
-10.0% below
M Cap ₹1,622 Cr
P/E 4.2
PEG 1.39
Profit +999% above its own trend Operating margin contracted 1000 bps YoY 92% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 9% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.1% -47.4%
10.0 19.0 9.0 Operating profit
+0.0% -47.1%
9.0 17.0 9.0 OPM %
-1000 bps +53 bps
90.0% 89.5% 100.0% Other income
— +200.0%
111 37.0 1.0 Net profit?
— +122.5%
89.0 40.0 7.0 EPS (₹)
— +123.7%
23.73 10.61 1.86
Quality of profit
Pre-tax profit ₹120 Cr: core business ₹9.0 Cr, other income ₹111 Cr.
Core profit YoY: +0.0%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
9% of FY25 net profit of ₹223 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.6 ₹10.0
+4.6% in line Net profit ₹3.5 ₹89.0
+999.0% above
₹ Cr
Dec 2025
Sales
266 Operating profit
34.9 OPM %
13.1% Other income
5.3 Net profit?
20.9 PAT margin %
7.8% EPS (₹)
0.81
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 ₹25.9 Cr: core business ₹20.6 Cr, other income ₹5.3 Cr.
Operating margin expanded 931 bps YoY Exceptional items of ₹-2.1 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+32.9% +69.2%
125 73.7 93.9 Operating profit
from loss from loss 4.0 -6.7 -5.7 OPM %
+931 bps +1227 bps
3.2% -9.1% -6.1% Other income
-57.4% -27.2%
0.8 1.1 1.9 Net profit?
loss narrowed loss narrowed -15.7 -24.4 -40.4 PAT margin %
+3043 bps +2055 bps
-12.6% -33.1% -43.0% EPS (₹)
loss narrowed loss narrowed -7.04 -10.96 -20.59
Quality of profit
Pre-tax profit −₹15.7 Cr: core business −₹14.4 Cr, other income ₹0.8 Cr, exceptional & other items −₹2.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹8.0 Cr.
Borrowings ₹555 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹98.1 ₹125
+27.1% above
M Cap ₹1,611 Cr
P/E 52.8
PEG —
Core business grew faster than reported profit (core profit +100%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.5% +0.9%
213 211 183 Operating profit
+38.1% +12.8%
11.2 9.9 8.1 OPM %
+83 bps +56 bps
5.3% 4.7% 4.5% Other income
-9.8% -68.2%
0.2 0.6 0.2 Net profit?
+64.0% +5.3%
7.4 7.1 4.5 PAT margin %
+101 bps +14 bps
3.5% 3.3% 2.5% EPS (₹)
+64.1% +5.2%
3.66 3.48 2.23
Quality of profit
Pre-tax profit ₹7.1 Cr: core business ₹6.9 Cr, other income ₹0.2 Cr.
Core profit YoY: +100.4%
· reported profit +64.0%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-45% of FY25 net profit of ₹17.8 Cr.
Borrowings ₹169 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹234 ₹213
-9.1% below Net profit ₹8.2 ₹7.4
-9.6% in line
M Cap ₹1,606 Cr
P/E 25.7
PEG —
Profit +77% above its own trend Operating margin expanded 376 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.3% +15.8%
139 120 123 Operating profit
+48.7% +4.8%
22.0 21.0 14.8 OPM %
+376 bps -167 bps
15.8% 17.5% 12.1% Other income
-100.0% —
0.0 0.0 1.6 Net profit?
+59.4% +8.3%
13.0 12.0 8.2 PAT margin %
+270 bps -65 bps
9.4% 10.0% 6.6% EPS (₹)
+49.4% +8.9%
7.11 6.53 4.76
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹16.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +72.2%
· reported profit +59.4%
Against its own trend ?
Trend Actual Gap
Sales ₹142 ₹139
-2.3% in line Net profit ₹7.4 ₹13.0
+76.5% above
M Cap ₹1,604 Cr
P/E 39.1
PEG 7.82
Profit +50% above its own trend Operating margin expanded 148 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+31.9% +23.2%
77.0 62.5 58.4 Operating profit
+43.6% +43.1%
14.0 9.8 9.7 OPM %
+148 bps +253 bps
18.2% 15.7% 16.7% Other income
+74.1% -16.0%
2.0 2.4 1.1 Net profit?
+64.5% +32.6%
9.0 6.8 5.5 PAT margin %
+232 bps +83 bps
11.7% 10.9% 9.4% EPS (₹)
+68.4% +36.4%
1.65 1.21 0.98
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹11.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +78.4%
· reported profit +64.5%
Cash & debt
FY25 cash from operations ₹27.0 Cr:
107% of FY25 net profit of ₹25.2 Cr.
Borrowings ₹43.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹67.0 ₹77.0
+14.9% above Net profit ₹6.0 ₹9.0
+49.9% above
M Cap ₹1,600 Cr
P/E 22.2
PEG 0.93
Profit -24% below its own trend Operating margin contracted 147 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.6% -2.4%
249 255 217 Operating profit
-1.7% -15.9%
22.1 26.2 22.4 OPM %
-147 bps -142 bps
8.9% 10.3% 10.3% Other income
+120.1% +37.6%
4.5 3.3 2.1 Net profit?
+13.5% -0.7%
18.1 18.2 15.9 PAT margin %
-7 bps +13 bps
7.3% 7.1% 7.3% EPS (₹)
+13.4% -0.7%
5.59 5.63 4.93
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹15.4 Cr, other income ₹4.5 Cr.
Core profit YoY: -5.2%
· reported profit +13.5%
Cash & debt
FY25 cash from operations ₹38.0 Cr:
65% of FY25 net profit of ₹58.6 Cr.
Borrowings ₹103 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹277 ₹249
-10.1% below Net profit ₹23.9 ₹18.1
-24.3% below
M Cap ₹1,589 Cr
P/E 37.9
PEG 0.70
Profit +63% above its own trend Operating margin expanded 300 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +62%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+28.8% +4.8%
88.0 84.0 68.3 Operating profit
+59.5% +11.9%
13.7 12.3 8.6 OPM %
+300 bps +99 bps
15.6% 14.6% 12.6% Other income
+25.9% -43.7%
0.9 1.5 0.7 Net profit?
+112.5% +49.9%
11.2 7.5 5.3 PAT margin %
+501 bps +382 bps
12.7% 8.9% 7.7% EPS (₹)
+109.6% +47.5%
0.87 0.59 adj. 0.42
EPS restated for the ₹10 to ₹2 split of Mar 2026 and the 1:1 bonus of Mar 2026: Dec 2024 ₹4.15 to ₹0.42.
Quality of profit
Pre-tax profit ₹14.6 Cr: core business ₹9.7 Cr, other income ₹0.9 Cr, exceptional & other items ₹4.0 Cr.
Core profit YoY: +61.9%
· reported profit +112.5%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-14% of FY25 net profit of ₹22.2 Cr.
Borrowings ₹43.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹78.7 ₹88.0
+11.8% above Net profit ₹6.9 ₹11.2
+63.2% above
M Cap ₹1,589 Cr
P/E 46.7
PEG —
Operating margin contracted 103 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
-99.0% -92.0%
43.0 537 4,106 Operating profit
-99.3% -98.4%
1.0 62.0 138 OPM %
-103 bps -922 bps
2.3% 11.5% 3.4% Other income
-54.2% -69.2%
4.0 13.0 8.7 Net profit?
-80.6% from loss 2.0 -2.0 10.3 PAT margin %
+440 bps +502 bps
4.7% -0.4% 0.3% EPS (₹)
-90.0% from loss 0.01 -0.04 0.10
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹66.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹63.0 Cr.
Core profit YoY: loss widened
· reported profit -80.6%
Cash & debt
FY25 cash from operations ₹261 Cr:
490% of FY25 net profit of ₹53.3 Cr.
Borrowings ₹2,036 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,597 ₹43.0
-98.3% below
M Cap ₹1,580 Cr
P/E 14.2
PEG 0.52
Profit -29% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.0% -17.7%
388 472 381 Operating profit
-6.7% -35.6%
38.8 60.3 41.6 OPM %
-94 bps -278 bps
10.0% 12.8% 10.9% Other income
-47.7% -37.3%
0.9 1.4 1.7 Net profit?
-12.1% -49.6%
17.5 34.8 19.9 PAT margin %
-73 bps -285 bps
4.5% 7.4% 5.2% EPS (₹)
-8.0% -47.7%
3.24 6.20 3.52
Quality of profit
Pre-tax profit ₹25.0 Cr: core business ₹23.3 Cr, other income ₹0.9 Cr, exceptional & other items ₹0.8 Cr.
Core profit YoY: -6.3%
· reported profit -12.1%
Cash & debt
FY25 cash from operations ₹74.0 Cr:
81% of FY25 net profit of ₹91.8 Cr.
Borrowings ₹344 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹428 ₹388
-9.2% below Net profit ₹24.5 ₹17.5
-28.6% below
M Cap ₹1,577 Cr
P/E 16.7
PEG 0.88
Profit -59% below its own trend Operating margin contracted 241 bps YoY Borrowings up 40% since Jun 2025
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-0.1% -2.4%
133 136 133 Operating profit
-6.8% -7.1%
45.0 48.4 48.3 OPM %
-241 bps -172 bps
33.8% 35.6% 36.2% Other income
to loss to loss -9.0 3.0 2.8 Net profit?
-56.7% -52.7%
14.0 29.6 32.4 PAT margin %
-1377 bps -1122 bps
10.5% 21.7% 24.3% EPS (₹)
-56.9% -52.9%
9.34 19.84 21.68
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹29.0 Cr, other income −₹9.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -29.2%
· reported profit -56.7%
Cash & debt
Borrowings ₹87.0 Cr at Dec 2025, against ₹62.0 Cr at Jun 2025 (+40% ).
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹133
-5.3% below Net profit ₹33.8 ₹14.0
-58.6% 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
