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 ₹1,575 Cr
P/E 9.4
PEG —
Core business grew faster than reported profit (core profit +150%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+143.3% +34.2%
2,35,098 1,75,212 96,630 Operating profit
+70.1% -35.2%
114 176 67.0 OPM %
-2 bps -5 bps
0.0% 0.1% 0.1% Other income
-47.6% -8.3%
11.0 12.0 21.0 Net profit?
+97.2% -31.7%
71.0 104 36.0 PAT margin %
-1 bps -3 bps
0.0% 0.1% 0.0% EPS (₹)
+101.7% -31.2%
2.42 3.52 1.20
Quality of profit
Pre-tax profit ₹65.0 Cr: core business ₹55.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +150.0%
· reported profit +97.2%
Cash & debt
FY25 cash from operations ₹7,738 Cr:
8060% of FY25 net profit of ₹96.0 Cr.
Borrowings ₹923 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,93,260 ₹2,35,098
+21.6% above Net profit ₹72.0 ₹71.0
-1.4% in line
M Cap ₹1,573 Cr
P/E 29.2
PEG 1.39
Profit -10% below its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.3% +35.5%
177 131 150 Operating profit
+17.2% +56.3%
23.4 15.0 20.0 OPM %
-12 bps +176 bps
13.2% 11.5% 13.3% Other income
-86.3% -72.6%
0.3 1.0 2.0 Net profit
-0.1% +74.8%
14.0 8.0 14.0 PAT margin %
-146 bps +177 bps
7.9% 6.1% 9.3% EPS (₹)
+2.8% +73.6%
2.17 1.25 2.11
Quality of profit
Pre-tax profit ₹19.3 Cr: core business ₹19.0 Cr, other income ₹0.3 Cr.
Core profit YoY: +18.8%
· reported profit -0.1%
Cash & debt
FY25 cash from operations −₹32.0 Cr:
-65% of FY25 net profit of ₹49.0 Cr.
Borrowings ₹34.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹147 ₹177
+20.8% above Net profit ₹15.6 ₹14.0
-10.4% below
M Cap ₹1,572 Cr
P/E 29.2
PEG —
Profit +361% above its own trend Operating margin expanded 318 bps YoY Core business grew faster than reported profit (core profit +236%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.9% +1.8%
607 596 632 Operating profit
+77.0% +57.1%
42.2 26.9 23.8 OPM %
+318 bps +245 bps
6.9% 4.5% 3.8% Other income
-2.1% +1.5%
4.6 4.5 4.7 Net profit
+159.8% +88.4%
24.6 13.1 9.5 PAT margin %
+256 bps +187 bps
4.1% 2.2% 1.5% EPS (₹)
+159.9% +88.4%
10.68 5.67 4.11
Quality of profit
Pre-tax profit ₹33.4 Cr: core business ₹28.7 Cr, other income ₹4.6 Cr.
Core profit YoY: +235.7%
· reported profit +159.8%
Cash & debt
FY25 cash from operations ₹131 Cr:
238% of FY25 net profit of ₹55.1 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹637 ₹607
-4.8% in line Net profit ₹5.3 ₹24.6
+360.9% above
M Cap ₹1,570 Cr
P/E 16.3
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+14.6%
352 307 Operating profit
+15.1%
39.7 34.5 OPM %
+5 bps
11.3% 11.2% Other income
+65.1%
3.8 2.3 Net profit?
+14.8%
25.5 22.2 PAT margin %
+2 bps
7.3% 7.2% EPS (₹)
+9.6%
4.46 4.07
Quality of profit
Pre-tax profit ₹34.6 Cr: core business ₹31.9 Cr, other income ₹3.8 Cr, exceptional & other items −₹1.2 Cr.
Profit +133% above its own trend Operating margin expanded 619 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.2% +13.5%
462 407 366 Operating profit
+246.2% +21.6%
45.0 37.0 13.0 OPM %
+619 bps +65 bps
9.7% 9.1% 3.6% Other income
+200.0% +0.0%
3.0 3.0 1.0 Net profit?
+158.8% -42.8%
4.5 7.8 1.7 PAT margin %
+49 bps -95 bps
1.0% 1.9% 0.5% EPS (₹)
from loss +25.7%
0.88 0.70 -0.31
Quality of profit
Pre-tax profit ₹6.8 Cr: core business ₹21.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹17.2 Cr.
Core profit YoY: from loss
· reported profit +158.8%
Cash & debt
FY25 cash from operations ₹81.0 Cr:
297% of FY25 net profit of ₹27.3 Cr.
Borrowings ₹272 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹391 ₹462
+18.1% above Net profit ₹1.9 ₹4.5
+133.1% above
M Cap ₹1,570 Cr
P/E 44.6
PEG 0.99
Operating margin expanded 586 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.3% +98.2%
211 106 216 Operating profit
+75.0% +345.6%
28.0 6.3 16.0 OPM %
+586 bps +737 bps
13.3% 5.9% 7.4% Other income
-53.3% -59.8%
0.5 1.2 1.0 Net profit?
+72.4% —
15.5 0.4 9.0 PAT margin %
+318 bps +698 bps
7.4% 0.4% 4.2% EPS (₹)
+58.5% +983.3%
0.65 0.06 0.41
Quality of profit
Pre-tax profit ₹20.3 Cr: core business ₹19.8 Cr, other income ₹0.5 Cr.
Core profit YoY: +65.1%
· reported profit +72.4%
Cash & debt
FY25 cash from operations −₹55.0 Cr:
-168% of FY25 net profit of ₹32.7 Cr.
Borrowings ₹75.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹248 ₹211
-14.7% below Net profit ₹16.6 ₹15.5
-6.3% in line
M Cap ₹1,566 Cr
P/E 11.5
PEG —
Profit +28% above its own trend Operating margin expanded 451 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+125.0% +20.2%
140 116 62.2 Operating profit
+161.7% +31.1%
45.1 34.4 17.2 OPM %
+451 bps +267 bps
32.2% 29.5% 27.7% Other income
-55.4% -90.7%
0.2 1.9 0.4 Net profit?
+156.0% +21.4%
32.9 27.1 12.9 PAT margin %
+285 bps +24 bps
23.5% 23.3% 20.7% EPS (₹)
+147.6% +21.2%
3.54 2.92 1.43
Quality of profit
Pre-tax profit ₹43.7 Cr: core business ₹43.5 Cr, other income ₹0.2 Cr.
Core profit YoY: +159.0%
· reported profit +156.0%
Cash & debt
FY25 cash from operations −₹111 Cr:
-221% of FY25 net profit of ₹50.1 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹124 ₹140
+12.5% above Net profit ₹25.7 ₹32.9
+28.0% above
M Cap ₹1,565 Cr
P/E 28.5
PEG 0.86
Profit +17% above its own trend 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +30%) FY25 operating cash flow was only 25% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+27.3% +20.7%
101 83.6 79.2 Operating profit
+29.0% +9.2%
13.5 12.4 10.5 OPM %
+17 bps -140 bps
13.4% 14.8% 13.2% Other income
— +17.0%
3.6 3.0 0.0 Net profit?
+69.1% +18.2%
12.0 10.2 7.1 PAT margin %
+295 bps -25 bps
11.9% 12.2% 9.0% EPS (₹)
+67.7% +19.7%
3.22 2.69 1.92
Quality of profit
Pre-tax profit ₹15.7 Cr: core business ₹11.1 Cr, other income ₹3.6 Cr, exceptional & other items ₹1.1 Cr.
Core profit YoY: +29.7%
· reported profit +69.1%
Cash & debt
FY25 cash from operations ₹9.0 Cr:
25% of FY25 net profit of ₹35.6 Cr.
Borrowings ₹23.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹90.0 ₹101
+12.1% above Net profit ₹10.3 ₹12.0
+17.0% above
M Cap ₹1,558 Cr
P/E 48.2
PEG 9.64
Profit +283% above its own trend Operating margin expanded 142 bps YoY Exceptional items of ₹7.5 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.1% +0.3%
629 627 552 Operating profit
+33.9% -0.7%
60.6 61.0 45.2 OPM %
+142 bps -10 bps
9.6% 9.7% 8.2% Other income
+17.1% +58.9%
2.4 1.5 2.0 Net profit?
+503.8% -37.3%
11.1 17.7 1.8 PAT margin %
+143 bps -106 bps
1.8% 2.8% 0.3% EPS (₹)
+471.4% -38.9%
0.80 1.31 0.14
Quality of profit
Pre-tax profit ₹16.5 Cr: core business ₹21.6 Cr, other income ₹2.4 Cr, exceptional & other items −₹7.5 Cr.
Core profit YoY: +207.9%
· reported profit +503.8%
Cash & debt
FY25 cash from operations ₹193 Cr:
901% of FY25 net profit of ₹21.4 Cr.
Borrowings ₹697 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹568 ₹629
+10.7% above Net profit ₹2.9 ₹11.1
+283.5% above
M Cap ₹1,558 Cr
P/E 91.9
PEG —
Profit -46% below its own trend Operating margin contracted 860 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
+13.8% +7.4%
60.8 56.6 53.4 Operating profit
-33.6% +9.6%
7.3 6.7 11.0 OPM %
-860 bps +24 bps
12.0% 11.8% 20.6% Other income
-29.7% +3.8%
1.4 1.3 1.9 Net profit?
-63.7% +10.4%
3.0 2.7 8.2 PAT margin %
-1049 bps +13 bps
4.9% 4.8% 15.4% EPS (₹)
-63.7% +10.6%
14.90 13.47 41.10
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹3.7 Cr, other income ₹1.4 Cr.
Core profit YoY: -57.6%
· reported profit -63.7%
Cash & debt
FY25 cash from operations ₹34.0 Cr:
86% of FY25 net profit of ₹39.5 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹55.5 ₹60.8
+9.5% above Net profit ₹5.5 ₹3.0
-46.2% below
M Cap ₹1,557 Cr
P/E 8.1
PEG 0.32
Profit +94% above its own trend Gross NPA up 116 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+18.4% +4.2%
625 600 528 Net interest income
+3.4% +6.9%
277 259 268 Other income
+102.5% +1.2%
81.0 80.0 40.0 Net profit
+12.1% +23.3%
37.0 30.0 33.0 EPS (₹)
+9.9% +20.3%
3.44 2.86 3.13 Gross NPA %
+116 bps +76 bps
6.7% 5.9% 5.5% Net NPA %
+122 bps +55 bps
4.3% 3.8% 3.1%
Against its own trend ?
Trend Actual Gap
NII ₹237 ₹277
+17.0% above Net profit ₹19.1 ₹37.0
+93.7% above
M Cap ₹1,545 Cr
P/E 99.4
PEG 4.73
Into loss: a profit a year ago Profit -116% below its own trend Operating margin contracted 889 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
+4.8% -0.5%
112 113 107 Operating profit
-72.8% -57.6%
3.5 8.2 12.8 OPM %
-889 bps -419 bps
3.1% 7.3% 12.0% Other income
+13.5% +45.2%
1.4 1.0 1.2 Net profit?
to loss to loss -0.6 5.1 4.5 PAT margin %
-473 bps -507 bps
-0.5% 4.6% 4.2% EPS (₹)
to loss to loss -0.38 3.77 3.46
Quality of profit
Pre-tax profit ₹2.1 Cr: core business −₹4.8 Cr, other income ₹1.4 Cr, exceptional & other items ₹5.5 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹49.0 Cr:
199% of FY25 net profit of ₹24.6 Cr.
Borrowings ₹99.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹105 ₹112
+6.6% above Net profit ₹3.6 −₹0.6
-116.3% below
M Cap ₹1,542 Cr
P/E 164.2
PEG 3.16
Turnaround: profit against a loss a year ago Operating margin expanded 2743 bps YoY 72% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.9% -26.8%
3.8 5.2 4.0 Operating profit
— from loss 1.1 -0.3 0.1 OPM %
+2743 bps +3396 bps
28.8% -5.2% 1.4% Other income
-79.4% -95.3%
0.4 9.5 2.2 Net profit?
from loss -82.2%
1.1 6.0 -11.3 PAT margin %
— —
28.0% — — EPS (₹)
from loss -83.0%
0.08 0.47 -0.89
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.4 Cr, other income ₹0.4 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹184 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.2 ₹3.8
-8.2% below
M Cap ₹1,542 Cr
P/E 16.1
PEG 0.35
Profit -34% below its own trend Operating margin expanded 115 bps YoY FY25 operating cash flow was only 39% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.1% +1.8%
284 279 278 Operating profit
+11.8% -5.0%
38.0 40.0 34.0 OPM %
+115 bps -96 bps
13.4% 14.3% 12.2% Other income
+50.0% +0.0%
3.0 3.0 2.0 Net profit?
-4.8% -4.8%
20.0 21.0 21.0 PAT margin %
-51 bps -48 bps
7.0% 7.5% 7.6% EPS (₹)
-6.5% -8.1%
1.59 1.73 1.70
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹23.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -9.2%
· reported profit -4.8%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
39% of FY25 net profit of ₹74.8 Cr.
Borrowings ₹129 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹332 ₹284
-14.4% below Net profit ₹30.1 ₹20.0
-33.6% below
M Cap ₹1,538 Cr
P/E 27.3
PEG —
Operating margin contracted 582 bps YoY 34% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.4% -29.1%
41.0 57.8 37.5 Operating profit
-14.3% -17.8%
8.6 10.5 10.1 OPM %
-582 bps +288 bps
21.0% 18.1% 26.9% Other income
+1.8% +23.0%
4.1 3.3 4.0 Net profit
+2.2% -43.4%
9.1 16.1 8.9 PAT margin %
-157 bps -561 bps
22.2% 27.8% 23.8% EPS (₹)
+2.2% -43.3%
2.84 5.01 2.78
Quality of profit
Pre-tax profit ₹11.9 Cr: core business ₹7.8 Cr, other income ₹4.1 Cr.
Core profit YoY: -17.2%
· reported profit +2.2%
Cash & debt
FY25 cash from operations −₹61.0 Cr:
-146% of FY25 net profit of ₹41.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹40.9 ₹41.0
+0.4% in line Net profit ₹8.8 ₹9.1
+3.0% in line
M Cap ₹1,529 Cr
P/E 18.1
PEG 0.53
Profit +76% above its own trend Operating margin expanded 749 bps YoY Core business grew faster than reported profit (core profit +239%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+39.1% +6.8%
134 125 96.3 Operating profit
+109.1% -4.3%
30.0 31.4 14.3 OPM %
+749 bps -260 bps
22.4% 25.0% 14.9% Other income
+20.8% -5.0%
4.0 4.2 3.3 Net profit?
+169.1% -16.0%
19.0 22.6 7.1 PAT margin %
+685 bps -385 bps
14.2% 18.0% 7.3% EPS (₹)
+174.5% -14.2%
1.99 adj. 2.32adj. 0.72
EPS restated for the 3:1 bonus of Feb 2026: Sep 2025 ₹9.28 to ₹2.32; Dec 2024 ₹2.90 to ₹0.72.
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹24.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +239.5%
· reported profit +169.1%
Cash & debt
FY25 cash from operations ₹50.0 Cr:
133% of FY25 net profit of ₹37.5 Cr.
Borrowings ₹20.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹134
+24.5% above Net profit ₹10.8 ₹19.0
+76.1% above
M Cap ₹1,523 Cr
P/E 8.8
PEG —
Operating margin expanded 143 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.7% +11.3%
191 172 157 Operating profit
+33.2% +5.7%
31.7 30.0 23.8 OPM %
+143 bps -87 bps
16.6% 17.4% 15.1% Other income
-8.8% -58.6%
3.3 8.0 3.6 Net profit?
+13.5% +24.0%
24.8 20.0 21.9 PAT margin %
-93 bps +133 bps
13.0% 11.6% 13.9%
Quality of profit
Pre-tax profit ₹33.1 Cr: core business ₹29.8 Cr, other income ₹3.3 Cr.
Core profit YoY: +25.1%
· reported profit +13.5%
Against its own trend ?
Trend Actual Gap
Sales ₹203 ₹191
-5.5% below Net profit ₹24.4 ₹24.8
+1.8% in line
M Cap ₹1,521 Cr
P/E 48.8
PEG 0.55
Profit -58% below its own trend Operating margin expanded 300 bps YoY Exceptional items of ₹-3.8 Cr in the quarter Core business grew faster than reported profit (core profit +99%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.2% -26.8%
257 351 235 Operating profit
+66.0% -5.7%
22.5 23.9 13.6 OPM %
+300 bps +196 bps
8.8% 6.8% 5.8% Other income
-21.0% -5.3%
4.8 5.0 6.0 Net profit?
-16.7% -41.6%
8.3 14.3 10.0 PAT margin %
-101 bps -82 bps
3.2% 4.1% 4.3% EPS (₹)
-17.2% -41.8%
0.53 0.91 0.64
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹8.0 Cr, other income ₹4.8 Cr, exceptional & other items −₹3.8 Cr.
Core profit YoY: +99.1%
· reported profit -16.7%
Cash & debt
FY25 cash from operations −₹89.0 Cr:
-243% of FY25 net profit of ₹36.6 Cr.
Borrowings ₹78.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹471 ₹257
-45.4% below Net profit ₹20.0 ₹8.3
-58.4% below
M Cap ₹1,518 Cr
P/E 28.4
PEG —
Profit -72% below its own trend Operating margin contracted 577 bps YoY 51% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-9.2% -13.1%
195 224 215 Operating profit
-25.3% -21.8%
52.1 66.7 69.8 OPM %
-577 bps -300 bps
26.7% 29.7% 32.5% Other income
-13.4% -30.6%
5.1 7.3 5.8 Net profit
-70.5% -67.1%
7.2 21.8 24.3 PAT margin %
-765 bps -605 bps
3.7% 9.7% 11.3% EPS (₹)
-70.4% -67.1%
1.33 4.04 4.50
Quality of profit
Pre-tax profit ₹9.9 Cr: core business ₹4.9 Cr, other income ₹5.1 Cr.
Core profit YoY: -81.5%
· reported profit -70.5%
Cash & debt
FY25 cash from operations ₹199 Cr:
213% of FY25 net profit of ₹93.5 Cr.
Borrowings ₹507 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹229 ₹195
-15.1% below Net profit ₹25.5 ₹7.2
-71.9% below
Operating margin expanded 758 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.1% +4.1%
198 190 170 Operating profit
loss narrowed loss narrowed -28.0 -108 -37.0 OPM %
+758 bps +4274 bps
-14.2% -56.9% -21.8% Other income
-73.1% -34.4%
21.0 32.0 78.0 Net profit?
loss widened loss narrowed -897 -960 -836 EPS (₹)
loss widened loss narrowed -14.24 -15.24 -13.27
Quality of profit
Pre-tax profit −₹897 Cr: core business −₹919 Cr, other income ₹21.0 Cr, exceptional & other items ₹1.1 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹340 Cr.
Borrowings ₹32,441 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹168 ₹198
+17.7% above
M Cap ₹1,515 Cr
P/E 16.6
PEG 0.35
Operating margin expanded 208 bps YoY 45% of pre-tax profit came from other income and one-off items Exceptional items of ₹1.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-9.8% -22.3%
114 146 126 Operating profit
+9.4% -20.3%
13.5 17.0 12.4 OPM %
+208 bps +30 bps
11.9% 11.6% 9.8% Other income
+61.0% -45.8%
10.8 19.9 6.7 Net profit?
+25.5% -42.0%
15.5 26.7 12.4 PAT margin %
+383 bps -463 bps
13.6% 18.3% 9.8% EPS (₹)
+27.1% -41.8%
0.89 1.53 0.70
Quality of profit
Pre-tax profit ₹20.9 Cr: core business ₹11.5 Cr, other income ₹10.8 Cr, exceptional & other items −₹1.4 Cr.
Core profit YoY: +21.4%
· reported profit +25.5%
Cash & debt
FY25 cash from operations ₹45.0 Cr:
68% of FY25 net profit of ₹66.5 Cr.
Borrowings ₹236 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹129 ₹114
-11.6% below Net profit ₹16.1 ₹15.5
-3.4% in line
Profit -80% below its own trend Operating margin contracted 449 bps YoY 57% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 48% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-16.6% -7.0%
251 270 301 Operating profit
-47.7% -52.5%
19.0 40.0 36.3 OPM %
-449 bps -725 bps
7.6% 14.8% 12.1% Other income
+155.7% —
4.0 0.0 1.6 Net profit?
-76.8% -75.0%
5.0 20.0 21.5 PAT margin %
-516 bps -542 bps
2.0% 7.4% 7.1% EPS (₹)
-80.0% -76.1%
0.22 0.92 1.10
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹3.0 Cr, other income ₹4.0 Cr.
Core profit YoY: -89.1%
· reported profit -76.8%
Cash & debt
FY25 cash from operations ₹42.0 Cr:
48% of FY25 net profit of ₹88.3 Cr.
Borrowings ₹171 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹310 ₹251
-19.1% below Net profit ₹25.6 ₹5.0
-80.5% below
M Cap ₹1,495 Cr
P/E 44.5
PEG —
Profit -12% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.0% +3.8%
43.3 41.7 35.2 Operating profit
+24.6% +8.0%
11.1 10.2 8.9 OPM %
+32 bps +98 bps
25.6% 24.6% 25.2% Other income
-94.1% -94.1%
0.0 0.8 0.8 Net profit?
+15.1% -1.5%
7.7 7.9 6.7 PAT margin %
-122 bps -98 bps
17.9% 18.9% 19.1% EPS (₹)
+15.2% -1.7%
4.17 4.24 3.62
Quality of profit
Pre-tax profit ₹10.4 Cr: core business ₹10.4 Cr, other income ₹0.0 Cr.
Core profit YoY: +26.6%
· reported profit +15.1%
Cash & debt
FY25 cash from operations ₹24.0 Cr:
91% of FY25 net profit of ₹26.3 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹42.5 ₹43.3
+1.8% in line Net profit ₹8.8 ₹7.7
-12.4% below
M Cap ₹1,494 Cr
P/E 23.5
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+5.5%
137 130 Operating profit
-6.3%
25.0 26.6 OPM %
-229 bps
18.2% 20.5% Other income
-83.1%
0.9 5.4 Net profit?
-33.3%
12.0 18.0 PAT margin %
-510 bps
8.8% 13.8% EPS (₹)
-29.8%
4.31 6.14
Quality of profit
Pre-tax profit ₹17.5 Cr: core business ₹16.6 Cr, other income ₹0.9 Cr.
M Cap ₹1,488 Cr
P/E 0.4
PEG 0.02
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.6% +38.9%
25.0 18.0 22.0 Operating profit
loss widened loss narrowed -60.0 -111 -53.0 Other income
-100.0% -100.0%
0.0 3,919 7.0 Net profit
loss narrowed to loss -61.0 3,810 -277 EPS (₹)
loss narrowed to loss -2.89 180.09 -13.07
Quality of profit
Pre-tax profit −₹61.0 Cr: core business −₹61.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹17.0 Cr.
Borrowings ₹3,097 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.7 ₹25.0
+82.8% above
M Cap ₹1,488 Cr
P/E 23.2
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-10.5% -11.9%
509 577 569 Operating profit
-7.6% -27.6%
37.7 52.1 40.8 OPM %
+24 bps -161 bps
7.4% 9.0% 7.2% Other income
+62.4% -46.6%
14.8 27.8 9.1 Net profit?
loss narrowed to loss -3.5 11.6 -4.4 PAT margin %
+8 bps -269 bps
-0.7% 2.0% -0.8% EPS (₹)
loss narrowed to loss -0.14 0.45 -0.17
Quality of profit
Pre-tax profit ₹4.5 Cr: core business −₹10.3 Cr, other income ₹14.8 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹66.0 Cr.
Borrowings ₹829 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹805 ₹509
-36.8% below
M Cap ₹1,478 Cr
P/E 17.8
PEG —
Profit -53% below its own trend Operating margin contracted 544 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.2% +21.2%
194 160 173 Operating profit
-23.1% +53.3%
23.0 15.0 29.9 OPM %
-544 bps +248 bps
11.9% 9.4% 17.3% Other income
-28.3% -40.0%
3.0 5.0 4.2 Net profit?
-21.3% +30.8%
17.0 13.0 21.6 PAT margin %
-373 bps +64 bps
8.8% 8.1% 12.5% EPS (₹)
-19.7% +31.0%
1.14 0.87 1.42
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹18.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -24.1%
· reported profit -21.3%
Cash & debt
FY25 cash from operations −₹32.0 Cr:
-66% of FY25 net profit of ₹48.2 Cr.
Borrowings ₹113 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹218 ₹194
-11.0% below Net profit ₹36.1 ₹17.0
-52.9% below
₹ Cr YoY
Dec 2025 Dec 2024
Sales
+14.9%
141 123 Operating profit
—
23.6 — OPM %
—
16.8% — Other income
—
2.8 —
Quality of profit
Pre-tax profit ₹26.4 Cr: core business ₹23.6 Cr, other income ₹2.8 Cr.
M Cap ₹1,468 Cr
P/E 32.4
PEG 2.03
Profit -78% below its own trend Core business grew faster than reported profit (core profit +3%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.5% -2.0%
73.0 74.5 74.0 Operating profit
+2.7% -1.0%
16.3 16.4 15.8 OPM %
+91 bps +23 bps
22.3% 22.1% 21.4% Other income
-96.5% -70.3%
0.9 3.0 25.5 Net profit
-65.8% -12.9%
10.9 12.6 32.0 PAT margin %
-2820 bps -187 bps
15.0% 16.9% 43.2% EPS (₹)
-66.0% -13.2%
1.64 1.89 4.82
Quality of profit
Pre-tax profit ₹14.5 Cr: core business ₹13.6 Cr, other income ₹0.9 Cr.
Core profit YoY: +3.4%
· reported profit -65.8%
Cash & debt
FY25 cash from operations ₹55.0 Cr:
99% of FY25 net profit of ₹55.4 Cr.
Borrowings ₹9.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹82.9 ₹73.0
-12.0% below Net profit ₹50.0 ₹10.9
-78.1% below
M Cap ₹1,467 Cr
P/E 13.6
PEG 1.94
Profit -10% below its own trend Operating margin contracted 133 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.3% +4.9%
395 377 331 Operating profit
+3.5% +4.8%
34.5 33.0 33.4 OPM %
-133 bps -1 bps
8.7% 8.8% 10.1% Other income
-9.8% +0.9%
3.6 3.6 4.0 Net profit?
+0.7% +5.2%
26.7 25.4 26.5 PAT margin %
-124 bps +2 bps
6.8% 6.7% 8.0% EPS (₹)
+0.7% +5.2%
7.52 7.15 7.47
Quality of profit
Pre-tax profit ₹36.1 Cr: core business ₹32.4 Cr, other income ₹3.6 Cr.
Core profit YoY: +3.0%
· reported profit +0.7%
Cash & debt
FY25 cash from operations ₹90.0 Cr:
88% of FY25 net profit of ₹102 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹372 ₹395
+6.3% above Net profit ₹29.7 ₹26.7
-10.3% 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, 04:52 IST
