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
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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
1051 matching results 1051
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M Cap ₹4,976 Cr
P/E 33.1
PEG 11.04
Turnaround: profit against a loss a year ago Operating margin expanded 1545 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+236.2% +66.0%
1,069 644 318 Operating profit
— +110.6%
219 104 16.0 OPM %
+1545 bps +434 bps
20.5% 16.1% 5.0% Other income
+105.9% +84.2%
35.0 19.0 17.0 Net profit?
from loss from loss 58.0 -43.0 -93.0 PAT margin %
+3467 bps +1210 bps
5.4% -6.7% -29.2% EPS (₹)
from loss from loss 2.53 -1.76 -3.90
Quality of profit
Pre-tax profit ₹79.0 Cr: core business ₹43.0 Cr, other income ₹35.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹531 Cr.
Borrowings ₹4,332 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹220 ₹1,069
+385.3% above
M Cap ₹4,971 Cr
P/E 51.2
PEG —
Profit -43% below its own trend Operating margin contracted 193 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
-7.6% -4.6%
85.9 90.0 93.0 Operating profit
-14.0% -6.8%
22.4 24.0 26.0 OPM %
-193 bps -64 bps
26.0% 26.7% 28.0% Other income
-20.5% -2.8%
8.8 9.0 11.0 Net profit
-35.6% -33.0%
16.1 24.0 25.0 PAT margin %
-815 bps -794 bps
18.7% 26.7% 26.9% EPS (₹)
-36.8% -33.5%
6.52 9.81 10.31
Quality of profit
Pre-tax profit ₹29.6 Cr: core business ₹20.9 Cr, other income ₹8.8 Cr.
Core profit YoY: -16.4%
· reported profit -35.6%
Cash & debt
FY25 cash from operations ₹75.0 Cr:
75% of FY25 net profit of ₹100 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹96.3 ₹85.9
-10.8% below Net profit ₹28.5 ₹16.1
-43.5% below
M Cap ₹4,967 Cr
P/E 35.8
PEG 3.26
Profit -50% below its own trend Operating margin contracted 780 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-18.2% -17.7%
93.7 114 115 Operating profit
-35.8% -4.8%
26.8 28.1 41.6 OPM %
-780 bps +385 bps
28.6% 24.7% 36.4% Other income
+12.1% +0.8%
10.5 10.4 9.4 Net profit?
-42.0% +1.3%
18.8 18.5 32.3 PAT margin %
-819 bps +375 bps
20.0% 16.3% 28.2% EPS (₹)
-42.4% +3.3%
3.43 3.32 5.96
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹18.7 Cr, other income ₹10.5 Cr, exceptional & other items −₹2.2 Cr.
Core profit YoY: -46.9%
· reported profit -42.0%
Cash & debt
FY25 cash from operations ₹113 Cr:
77% of FY25 net profit of ₹148 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹93.7
-33.0% below Net profit ₹37.5 ₹18.8
-49.9% below
M Cap ₹4,953 Cr
P/E 40.9
PEG —
Operating margin contracted 884 bps YoY 44% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +6%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.1% -9.0%
81.0 89.0 68.0 Operating profit
-7.4% -24.2%
25.0 33.0 27.0 OPM %
-884 bps -621 bps
30.9% 37.1% 39.7% Other income
+77.8% +23.1%
16.0 13.0 9.0 Net profit
+36.8% -29.7%
26.0 37.0 19.0 PAT margin %
+416 bps -947 bps
32.1% 41.6% 27.9% EPS (₹)
+25.9% -29.1%
1.85 2.61 1.47
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹19.0 Cr, other income ₹16.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +5.6%
· reported profit +36.8%
M Cap ₹4,944 Cr
P/E 48.0
PEG —
Profit -79% below its own trend Operating margin contracted 266 bps YoY 75% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-0.9% -0.6%
979 984 988 Operating profit
-26.0% +19.0%
76.9 64.6 104 OPM %
-266 bps +130 bps
7.9% 6.6% 10.5% Other income
+50.0% +2.9%
19.5 19.0 13.0 Net profit?
-71.0% +80.8%
14.6 8.1 50.3 PAT margin %
-360 bps +67 bps
1.5% 0.8% 5.1% EPS (₹)
-71.6% +81.8%
2.00 1.10 7.04
Quality of profit
Pre-tax profit ₹26.1 Cr: core business ₹6.6 Cr, other income ₹19.5 Cr.
Core profit YoY: -87.8%
· reported profit -71.0%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
36% of FY25 net profit of ₹159 Cr.
Borrowings ₹845 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,141 ₹979
-14.2% below Net profit ₹68.5 ₹14.6
-78.7% below
M Cap ₹4,921 Cr
P/E 164.0
PEG 4.10
Operating margin expanded 472 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-109 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.3% -0.6%
1,844 1,855 1,821 Operating profit
+168.6% -25.0%
140 186 52.0 OPM %
+472 bps -246 bps
7.6% 10.0% 2.9% Other income
-92.9% -37.9%
6.4 10.4 91.0 Net profit?
+8.5% —
49.9 1.6 46.0 PAT margin %
+18 bps +262 bps
2.7% 0.1% 2.5% EPS (₹)
+26.0% —
1.21 0.06 0.96
Quality of profit
Pre-tax profit ₹78.5 Cr: core business −₹39.6 Cr, other income ₹6.4 Cr, exceptional & other items ₹112 Cr.
Core profit YoY: loss narrowed
· reported profit +8.5%
Cash & debt
FY25 cash from operations ₹737 Cr:
1635% of FY25 net profit of ₹45.1 Cr.
Borrowings ₹1,978 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,952 ₹1,844
-5.5% below
M Cap ₹4,844 Cr
P/E 39.8
PEG 0.81
Profit +150% above its own trend Operating margin contracted 187 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+27.9% -9.3%
78.0 86.0 61.0 Operating profit
+18.8% +111.1%
19.0 9.0 16.0 OPM %
-187 bps +1389 bps
24.4% 10.5% 26.2% Other income
+91.7% -47.7%
23.0 44.0 12.0 Net profit?
+400.0% -10.7%
25.0 28.0 5.0 PAT margin %
+2385 bps -51 bps
32.1% 32.6% 8.2% EPS (₹)
+500.0% -13.2%
0.66 0.76 0.11
Quality of profit
Pre-tax profit ₹39.0 Cr: core business ₹17.0 Cr, other income ₹23.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +400.0%
Cash & debt
FY25 cash from operations ₹60.0 Cr:
230% of FY25 net profit of ₹26.1 Cr.
Borrowings ₹181 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.6 ₹78.0
+8.9% above Net profit ₹10.0 ₹25.0
+150.0% above
M Cap ₹4,800 Cr
P/E 24.2
PEG 2.68
26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.0% +7.9%
278 258 228 Operating profit
+23.5% +10.7%
62.1 56.1 50.3 OPM %
+27 bps +56 bps
22.4% 21.8% 22.1% Other income
+19.9% -5.3%
17.6 18.6 14.7 Net profit?
+19.1% +11.0%
50.8 45.7 42.6 PAT margin %
-44 bps +51 bps
18.3% 17.8% 18.7% EPS (₹)
+19.7% +13.0%
2.43 2.15 2.03
Quality of profit
Pre-tax profit ₹66.8 Cr: core business ₹49.2 Cr, other income ₹17.6 Cr.
Core profit YoY: +18.7%
· reported profit +19.1%
Cash & debt
FY25 cash from operations ₹130 Cr:
75% of FY25 net profit of ₹173 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹304 ₹278
-8.7% below Net profit ₹48.1 ₹50.8
+5.6% in line
Operating margin expanded 1101 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
-12.7% -6.2%
2,273 2,423 2,603 Operating profit
from loss from loss 249 -182 -1.5 OPM %
+1101 bps +1847 bps
10.9% -7.5% -0.1% Other income
-16.2% -28.5%
26.8 37.5 32.0 Net profit?
loss narrowed loss narrowed -38.1 -369 -204 PAT margin %
+615 bps +1357 bps
-1.7% -15.2% -7.8% EPS (₹)
loss narrowed loss narrowed -0.18 -1.73 -0.96
Quality of profit
Pre-tax profit ₹23.6 Cr: core business −₹3.2 Cr, other income ₹26.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹950 Cr.
Borrowings ₹5,889 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,162 ₹2,273
+5.2% above
M Cap ₹4,773 Cr
P/E 20.4
PEG —
Profit -83% below its own trend Operating margin contracted 584 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.5% +3.5%
88.0 85.0 96.2 Operating profit
-17.0% +0.0%
50.0 50.0 60.3 OPM %
-584 bps -201 bps
56.8% 58.8% 62.7% Other income
-93.8% +5.9%
18.0 17.0 291 Net profit?
-79.5% +8.1%
51.4 47.5 251 PAT margin %
— +249 bps
58.4% 55.9% — EPS (₹)
-79.5% +8.1%
7.30 6.75 35.63
Quality of profit
Pre-tax profit ₹65.5 Cr: core business ₹47.0 Cr, other income ₹18.0 Cr.
Core profit YoY: -19.4%
· reported profit -79.5%
Cash & debt
FY25 cash from operations ₹260 Cr:
58% of FY25 net profit of ₹445 Cr.
Borrowings ₹145 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹76.3 ₹88.0
+15.3% above Net profit ₹301 ₹51.4
-82.9% below
M Cap ₹4,726 Cr
P/E 31.3
PEG 1.65
Profit -18% below its own trend Operating margin contracted 264 bps YoY 30% 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
+26.4% +15.4%
597 517 472 Operating profit
+6.2% +15.1%
82.8 72.0 78.0 OPM %
-264 bps -4 bps
13.9% 13.9% 16.5% Other income
+54.2% +32.1%
18.5 14.0 12.0 Net profit?
-18.5% +16.0%
38.3 33.0 47.0 PAT margin %
-354 bps +3 bps
6.4% 6.4% 10.0% EPS (₹)
-29.2% +18.6%
18.69 15.76 26.40
Quality of profit
Pre-tax profit ₹54.4 Cr: core business ₹38.3 Cr, other income ₹18.5 Cr, exceptional & other items −₹2.4 Cr.
Core profit YoY: -14.9%
· reported profit -18.5%
Cash & debt
FY25 cash from operations −₹4.0 Cr:
-3% of FY25 net profit of ₹143 Cr.
Borrowings ₹453 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹604 ₹597
-1.2% in line Net profit ₹46.8 ₹38.3
-18.2% below
M Cap ₹4,576 Cr
P/E 25.4
PEG 0.94
Operating margin expanded 446 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+16.7% -17.6%
112 136 96.0 Operating profit
+33.3% -41.2%
40.0 68.0 30.0 OPM %
+446 bps -1429 bps
35.7% 50.0% 31.2% Other income
+8.3% +0.0%
13.0 13.0 12.0 Net profit?
+32.1% -35.1%
37.0 57.0 28.0 PAT margin %
+387 bps -888 bps
33.0% 41.9% 29.2% EPS (₹)
+28.7% -36.7%
11.96 18.89 9.29
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹35.0 Cr, other income ₹13.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +34.6%
· reported profit +32.1%
Cash & debt
FY25 cash from operations ₹123 Cr:
88% of FY25 net profit of ₹139 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹115 ₹112
-3.0% in line Net profit ₹34.3 ₹37.0
+7.8% in line
M Cap ₹4,552 Cr
P/E 21.1
PEG —
Profit -45% below its own trend Operating margin contracted 2243 bps YoY 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -74%) FY25 operating cash flow was only 43% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-36.9% +2.9%
153 149 242 Operating profit
-69.0% -9.8%
33.0 36.6 107 OPM %
-2243 bps -302 bps
21.6% 24.6% 44.0% Other income
+37.7% -2.7%
45.0 46.2 32.7 Net profit?
-38.1% -13.4%
52.0 60.0 84.0 PAT margin %
-69 bps -636 bps
34.0% 40.3% 34.7% EPS (₹)
-48.4% -15.9%
1.16 1.38 2.25
Quality of profit
Pre-tax profit ₹72.0 Cr: core business ₹27.0 Cr, other income ₹45.0 Cr.
Core profit YoY: -73.5%
· reported profit -38.1%
Cash & debt
FY25 cash from operations ₹133 Cr:
43% of FY25 net profit of ₹312 Cr.
Borrowings ₹36.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹153
-23.4% below Net profit ₹94.2 ₹52.0
-44.8% below
M Cap ₹4,507 Cr
P/E 11.0
PEG 0.21
Profit -64% below its own trend Operating margin contracted 373 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.0% +0.8%
960 952 865 Operating profit
-15.6% -13.0%
114 131 135 OPM %
-373 bps -189 bps
11.9% 13.8% 15.6% Other income
+40.0% +133.3%
28.0 12.0 20.0 Net profit?
-29.6% -28.3%
76.0 106 108 PAT margin %
-457 bps -322 bps
7.9% 11.1% 12.5% EPS (₹)
-20.1% -12.8%
8.82 10.11 11.04
Quality of profit
Pre-tax profit ₹85.0 Cr: core business ₹56.0 Cr, other income ₹28.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -44.0%
· reported profit -29.6%
Cash & debt
FY25 cash from operations ₹188 Cr:
65% of FY25 net profit of ₹290 Cr.
Borrowings ₹1,163 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,227 ₹960
-21.8% below Net profit ₹210 ₹76.0
-63.8% below
M Cap ₹4,507 Cr
P/E 13.2
PEG —
Profit +30% above its own trend Operating margin expanded 499 bps YoY 68% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +297%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+37.2% -6.1%
656 699 478 Operating profit
+78.2% +20.3%
142 118 79.9 OPM %
+499 bps +476 bps
21.7% 16.9% 16.7% Other income
-8.6% -14.7%
102 120 112 Net profit?
+148.2% +44.4%
207 143 83.4 PAT margin %
+1410 bps +1104 bps
31.5% 20.5% 17.4% EPS (₹)
+148.1% +44.3%
10.72 7.43 4.32
Quality of profit
Pre-tax profit ₹246 Cr: core business ₹79.0 Cr, other income ₹102 Cr, exceptional & other items ₹65.1 Cr.
Core profit YoY: +296.8%
· reported profit +148.2%
Cash & debt
FY25 cash from operations ₹280 Cr:
243% of FY25 net profit of ₹115 Cr.
Borrowings ₹588 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹495 ₹656
+32.5% above Net profit ₹159 ₹207
+29.9% above
M Cap ₹4,478 Cr
P/E 20.9
PEG 0.22
Profit -39% below its own trend Operating margin contracted 231 bps YoY 26% 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
-21.4% -17.2%
1,042 1,258 1,326 Operating profit
-39.8% -36.7%
78.8 124 131 OPM %
-231 bps -232 bps
7.6% 9.9% 9.9% Other income
-5.2% -5.7%
7.6 8.0 8.0 Net profit?
-44.7% -34.3%
42.0 63.9 76.0 PAT margin %
-170 bps -105 bps
4.0% 5.1% 5.7% EPS (₹)
-45.3% -35.2%
1.05 1.62 1.92
Quality of profit
Pre-tax profit ₹63.0 Cr: core business ₹46.5 Cr, other income ₹7.6 Cr, exceptional & other items ₹9.0 Cr.
Core profit YoY: -45.3%
· reported profit -44.7%
Cash & debt
FY25 cash from operations −₹47.0 Cr:
-21% of FY25 net profit of ₹225 Cr.
Borrowings ₹948 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,457 ₹1,042
-28.5% below Net profit ₹68.5 ₹42.0
-38.7% below
M Cap ₹4,474 Cr
P/E 34.1
PEG —
Profit -80% below its own trend Operating margin contracted 510 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
-42.7% -46.7%
266 499 464 Operating profit
-75.7% -35.1%
10.0 15.4 41.1 OPM %
-510 bps +67 bps
3.8% 3.1% 8.9% Other income
+28.4% +29.5%
28.0 21.6 21.8 Net profit?
-83.3% -49.4%
5.0 9.9 30.0 PAT margin %
-458 bps -10 bps
1.9% 2.0% 6.5% EPS (₹)
-77.5% -60.3%
0.27 0.68 1.20
Quality of profit
Pre-tax profit ₹10.0 Cr: core business −₹17.0 Cr, other income ₹28.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit -83.3%
Cash & debt
FY25 cash from operations −₹11.0 Cr:
-6% of FY25 net profit of ₹188 Cr.
Borrowings ₹930 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹374 ₹266
-28.9% below Net profit ₹24.6 ₹5.0
-79.7% below
M Cap ₹4,465 Cr
P/E 106.1
PEG —
45% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+2.6%
184 179 Operating profit
+33.9%
25.0 18.6 OPM %
+317 bps
13.6% 10.4% Other income
+68.9%
3.7 2.2 Net profit?
—
8.0 0.3 PAT margin %
+418 bps
4.3% 0.2% EPS (₹)
—
1.05 0.04
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹4.4 Cr, other income ₹3.7 Cr.
M Cap ₹4,425 Cr
P/E 7.5
PEG 0.69
Profit -55% below its own trend Operating margin contracted 395 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -52%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-0.5% -37.6%
3,405 5,459 3,421 Operating profit
-43.9% -36.7%
174 275 310 OPM %
-395 bps +7 bps
5.1% 5.0% 9.1% Other income
+703.9% -43.0%
72.3 127 9.0 Net profit?
-27.5% -40.9%
131 222 181 PAT margin %
-144 bps -21 bps
3.9% 4.1% 5.3% EPS (₹)
-27.6% -40.4%
3.85 6.46 5.32
Quality of profit
Pre-tax profit ₹175 Cr: core business ₹108 Cr, other income ₹72.3 Cr, exceptional & other items −₹4.9 Cr.
Core profit YoY: -51.8%
· reported profit -27.5%
Cash & debt
FY25 cash from operations ₹2,132 Cr:
236% of FY25 net profit of ₹905 Cr.
Borrowings ₹2,962 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,212 ₹3,405
+6.0% above Net profit ₹292 ₹131
-55.1% below
M Cap ₹4,408 Cr
P/E 66.5
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.4% -3.6%
1,044 1,083 1,029 Operating profit
-2.0% +29.9%
96.0 73.9 98.0 OPM %
-32 bps +237 bps
9.2% 6.8% 9.5% Other income
from loss -49.4%
30.0 59.3 -4.6 Net profit?
loss widened to loss -20.0 16.3 -11.2 PAT margin %
-82 bps -342 bps
-1.9% 1.5% -1.1% EPS (₹)
loss widened to loss -2.72 2.23 -1.53
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹26.0 Cr, other income ₹30.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹381 Cr.
Borrowings ₹561 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,138 ₹1,044
-8.3% below
Profit -59% below its own trend Operating margin contracted 243 bps YoY 32% of pre-tax profit came from other income and one-off items Exceptional items of ₹17.7 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.6% +12.7%
1,416 1,257 1,379 Operating profit
-11.3% +27.9%
218 170 246 OPM %
-243 bps +183 bps
15.4% 13.6% 17.8% Other income
+6.3% +152.1%
23.9 9.5 22.5 Net profit?
-69.1% from loss 16.1 -20.1 52.2 PAT margin %
-265 bps +274 bps
1.1% -1.6% 3.8% EPS (₹)
-69.3% from loss 1.46 -1.83 4.75
Quality of profit
Pre-tax profit ₹19.7 Cr: core business ₹13.4 Cr, other income ₹23.9 Cr, exceptional & other items −₹17.7 Cr.
Core profit YoY: -73.3%
· reported profit -69.1%
Cash & debt
FY25 cash from operations ₹549 Cr:
5032% of FY25 net profit of ₹10.9 Cr.
Borrowings ₹3,314 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,518 ₹1,416
-6.7% below Net profit ₹39.3 ₹16.1
-58.9% below
M Cap ₹4,208 Cr
P/E 49.7
PEG —
Operating margin contracted 400 bps YoY 47% of pre-tax profit came from other income and one-off items Exceptional items of ₹2.9 Cr in the quarter Profit grew faster than the core business (core profit -61%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.7% -7.2%
532 573 624 Operating profit
-56.4% -27.3%
22.2 30.6 51.0 OPM %
-400 bps -116 bps
4.2% 5.3% 8.2% Other income
— —
5.6 0.4 0.0 Net profit?
-20.4% +20.3%
14.3 11.9 18.0 PAT margin %
-19 bps +61 bps
2.7% 2.1% 2.9% EPS (₹)
-22.2% +16.7%
0.14 0.12 0.18
Quality of profit
Pre-tax profit ₹18.3 Cr: core business ₹9.7 Cr, other income ₹5.6 Cr, exceptional & other items ₹2.9 Cr.
Core profit YoY: -61.3%
· reported profit -20.4%
Cash & debt
FY25 cash from operations ₹167 Cr:
221% of FY25 net profit of ₹75.5 Cr.
Borrowings ₹796 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹672 ₹532
-20.8% below Net profit ₹14.8 ₹14.3
-3.1% in line
M Cap ₹3,959 Cr
P/E 82.7
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 360 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-7.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.1% +12.6%
1,898 1,685 1,594 Operating profit
-73.2% -76.7%
19.8 85.0 74.0 OPM %
-360 bps -400 bps
1.0% 5.0% 4.6% Other income
to loss to loss -2.0 3.0 6.0 Net profit?
from loss from loss 6.0 -8.4 -7.3 PAT margin %
+77 bps +81 bps
0.3% -0.5% -0.5% EPS (₹)
from loss from loss 0.33 -1.20 -1.25
Quality of profit
Pre-tax profit ₹12.4 Cr: core business −₹69.2 Cr, other income −₹2.0 Cr, exceptional & other items ₹83.6 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹343 Cr.
Borrowings ₹869 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,793 ₹1,898
+5.9% above
M Cap ₹3,922 Cr
P/E 19.3
PEG —
Profit +12% above its own trend Operating margin expanded 549 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +57%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-16.9% -29.4%
698 989 840 Operating profit
+28.1% +94.6%
109 56.0 85.1 OPM %
+549 bps +996 bps
15.6% 5.7% 10.1% Other income
+167.8% +45.0%
29.0 20.0 10.8 Net profit
-0.8% +203.3%
69.8 23.0 70.3 PAT margin %
+163 bps +767 bps
10.0% 2.3% 8.4% EPS (₹)
+17.6% +199.3%
8.62 2.88 7.33
Quality of profit
Pre-tax profit ₹93.2 Cr: core business ₹64.0 Cr, other income ₹29.0 Cr.
Core profit YoY: +56.6%
· reported profit -0.8%
Cash & debt
FY25 cash from operations ₹450 Cr:
111% of FY25 net profit of ₹405 Cr.
Borrowings ₹1,044 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,019 ₹698
-31.5% below Net profit ₹62.0 ₹69.8
+12.5% above
M Cap ₹3,885 Cr
P/E 77.0
PEG —
Profit -98% below its own trend Operating margin contracted 235 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
+11.0% +5.0%
753 717 678 Operating profit
-1.2% -5.3%
144 152 146 OPM %
-235 bps -208 bps
19.1% 21.2% 21.5% Other income
-40.6% -40.6%
19.0 32.0 32.0 Net profit?
-97.2% -94.1%
1.0 17.0 35.4 PAT margin %
-509 bps -224 bps
0.1% 2.4% 5.2% EPS (₹)
-93.6% -87.5%
0.11 0.88 1.73
Quality of profit
Pre-tax profit ₹12.0 Cr: core business −₹7.0 Cr, other income ₹19.0 Cr.
Core profit YoY: to loss
· reported profit -97.2%
Cash & debt
FY25 cash from operations ₹621 Cr:
493% of FY25 net profit of ₹126 Cr.
Borrowings ₹3,130 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹725 ₹753
+3.8% in line Net profit ₹47.1 ₹1.0
-97.9% below
M Cap ₹3,845 Cr
P/E 49.7
PEG 0.35
Turnaround: profit against a loss a year ago Operating margin contracted 862 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹18.3 Cr in the quarter Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-75.4% -14.6%
128 149 520 Operating profit
-94.7% from loss 3.0 -2.0 57.0 OPM %
-862 bps +369 bps
2.4% -1.3% 11.0% Other income
+200.0% -10.0%
27.0 30.0 9.0 Net profit?
from loss +28.2%
13.9 10.8 -7.5 PAT margin %
+1231 bps +363 bps
10.9% 7.2% -1.4% EPS (₹)
from loss +20.0%
0.06 0.05 -0.03
Quality of profit
Pre-tax profit ₹15.3 Cr: core business −₹11.0 Cr, other income ₹27.0 Cr, exceptional & other items −₹0.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹51.0 Cr:
-42% of FY25 net profit of ₹122 Cr.
Borrowings ₹372 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹278 ₹128
-54.1% below
M Cap ₹3,775 Cr
P/E 30.1
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 171 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
+25.1% +90.9%
265 139 212 Operating profit
-19.8% from loss 8.1 -37.0 10.1 OPM %
-171 bps +2966 bps
3.0% -26.6% 4.8% Other income
+185.6% -46.9%
16.4 31.0 5.8 Net profit?
from loss from loss 4.2 -11.0 -1.0 PAT margin %
+208 bps +951 bps
1.6% -7.9% -0.5% EPS (₹)
from loss from loss 0.51 -1.18 -0.14
Quality of profit
Pre-tax profit ₹10.2 Cr: core business −₹6.4 Cr, other income ₹16.4 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹282 Cr:
344% of FY25 net profit of ₹82.0 Cr.
Borrowings ₹1,139 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹193 ₹265
+37.8% above
Turnaround: profit against a loss a year ago 34% of pre-tax profit came from other income and one-off items Exceptional items of ₹2.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-26.0% +9.8%
179 163 242 Operating profit
-27.6% -12.5%
21.0 24.0 29.0 OPM %
-25 bps -299 bps
11.7% 14.7% 12.0% Other income
+14.3% +14.3%
8.0 7.0 7.0 Net profit?
from loss +5.3%
20.0 19.0 -10.0 PAT margin %
+1531 bps -48 bps
11.2% 11.7% -4.1% EPS (₹)
from loss +8.3%
3.00 2.77 -1.37
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹19.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹2.0 Cr.
Core profit YoY: -9.5%
Cash & debt
FY25 cash from operations ₹259 Cr:
122% of FY25 net profit of ₹213 Cr.
Borrowings ₹142 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹181 ₹179
-1.2% in line
M Cap ₹3,739 Cr
P/E 83.1
PEG 0.99
Profit +362% above its own trend Operating margin contracted 311 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+149.7% +12.8%
53.0 47.0 21.2 Operating profit
+123.4% +0.0%
14.0 14.0 6.3 OPM %
-311 bps -337 bps
26.4% 29.8% 29.5% Other income
+160.0% +150.0%
5.0 2.0 1.9 Net profit?
+134.5% +20.0%
12.0 10.0 5.1 PAT margin %
-147 bps +136 bps
22.6% 21.3% 24.1% EPS (₹)
+109.5% +17.2%
5.53 4.72 2.64
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹11.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +126.0%
· reported profit +134.5%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
65% of FY25 net profit of ₹44.7 Cr.
Borrowings ₹10.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.2 ₹53.0
+300.4% above Net profit ₹2.6 ₹12.0
+361.5% above
M Cap ₹3,731 Cr
P/E 12.2
PEG 0.35
Operating margin contracted 741 bps YoY 98% of pre-tax profit came from other income and one-off items Exceptional items of ₹-276 Cr in the quarter Profit grew faster than the core business (core profit -85%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.3% -10.0%
521 579 533 Operating profit
-47.4% -32.0%
45.0 66.2 85.5 OPM %
-741 bps -279 bps
8.6% 11.4% 16.0% Other income
— —
287 21.0 13.6 Net profit?
+356.4% from loss 264 -11.9 57.9 PAT margin %
+3982 bps +5273 bps
50.7% -2.1% 10.9% EPS (₹)
+356.7% from loss 37.54 -1.69 8.22
Quality of profit
Pre-tax profit ₹293 Cr: core business ₹7.0 Cr, other income ₹287 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -85.5%
· reported profit +356.4%
Cash & debt
FY25 cash from operations −₹7.0 Cr:
-5% of FY25 net profit of ₹145 Cr.
Borrowings ₹460 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹642 ₹521
-18.8% 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 13 Oct 2026, 14:24 IST
