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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.
Updated 14 Oct 2026, 08:56 IST
4316 declared
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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
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M Cap ₹609 Cr
P/E 42.1
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-7.7%
62.8 68.0
Operating profit
loss widened
-11.6 -6.2
OPM %
-935 bps
-18.5% -9.1%
Other income
+651.2%
7.1 0.9
Net profit?
loss narrowed
-5.7 -6.1
PAT margin %
-4 bps
-9.1% -9.0%
EPS (₹)
loss narrowed
-1.28 -1.89
Quality of profit
Pre-tax profit −₹6.7 Cr: core business −₹13.8 Cr, other income ₹7.1 Cr.
M Cap ₹606 Cr
P/E 20.4
PEG —
Operating margin expanded 416 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-25.9% -60.7%
203 517 274
Operating profit
from loss -94.9%
4.0 78.0 -6.0
OPM %
+416 bps -1312 bps
2.0% 15.1% -2.2%
Other income
— from loss
1.0 -2.0 0.0
Net profit?
loss narrowed to loss
-13.0 39.0 -24.0
PAT margin %
+236 bps -1395 bps
-6.4% 7.5% -8.8%
EPS (₹)
loss narrowed to loss
-0.36 1.10 -0.68
Quality of profit
Pre-tax profit −₹20.0 Cr: core business −₹21.0 Cr, other income ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹228 Cr:
327% of FY25 net profit of ₹69.7 Cr.
Borrowings ₹478 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹221 ₹203
-8.0% below
M Cap ₹604 Cr
P/E 28.6
PEG —
Profit +82% above its own trend Operating margin expanded 148 bps YoY Core business grew faster than reported profit (core profit +407%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.6% +2.3%
169 165 163
Operating profit
+37.0% +10.7%
10.3 9.3 7.5
OPM %
+148 bps +46 bps
6.1% 5.6% 4.6%
Other income
+49.8% -20.4%
0.8 1.0 0.5
Net profit?
+249.8% +6.4%
3.4 3.2 1.0
PAT margin %
+141 bps +8 bps
2.0% 1.9% 0.6%
EPS (₹)
+250.0% +6.5%
2.31 2.17 0.66
Quality of profit
Core 84% Other income & one-offs 16%
Pre-tax profit ₹4.7 Cr: core business ₹4.0 Cr, other income ₹0.8 Cr.
Core profit YoY: +406.9%
· reported profit +249.8%
Cash & debt
FY25 cash from operations ₹33.0 Cr:
1172% of FY25 net profit of ₹2.8 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹169
+5.2% above
Net profit ₹1.9 ₹3.4
+81.9% above
M Cap ₹602 Cr
P/E 21.8
PEG —
Operating margin expanded 340 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.0% -0.9%
267 269 252
Operating profit
+148.4% +9.1%
15.8 14.5 6.4
OPM %
+340 bps +55 bps
5.9% 5.4% 2.5%
Other income
-99.2% -52.0%
0.8 1.7 98.0
Net profit
-90.7% -8.3%
9.0 9.9 97.2
PAT margin %
-3521 bps -28 bps
3.4% 3.7% 38.6%
EPS (₹)
— —
0.18 0.14 28.17
No EPS growth against Sep 2025 and Dec 2024: ₹10 to ₹2 split in Oct 2025.
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹9.0 Cr: core business ₹8.3 Cr, other income ₹0.8 Cr.
Core profit YoY: from loss
· reported profit -90.7%
Against its own trend ?
Trend Actual Gap
Sales ₹257 ₹267
+3.9% in line
M Cap ₹599 Cr
P/E 36.0
PEG 0.57
Operating margin expanded 121 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.2% -9.3%
233 257 228
Operating profit
+37.5% +0.0%
11.0 11.0 8.0
OPM %
+121 bps +44 bps
4.7% 4.3% 3.5%
Other income
+0.0% -50.0%
1.0 2.0 1.0
Net profit?
+33.3% -50.0%
4.0 8.0 3.0
PAT margin %
+40 bps -140 bps
1.7% 3.1% 1.3%
EPS (₹)
+43.6% -43.0%
2.37 4.16 1.65
Quality of profit
Core 75% Other income & one-offs 25%
Pre-tax profit ₹8.0 Cr: core business ₹6.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +20.0%
· reported profit +33.3%
Cash & debt
FY25 cash from operations −₹22.0 Cr.
Borrowings ₹79.0 Cr at Mar 2025.
M Cap ₹594 Cr
P/E 44.4
PEG —
Profit +38% above its own trend Operating margin expanded 101 bps YoY 42% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-16.6% -20.5%
152 191 182
Operating profit
+15.1% -30.3%
5.5 8.0 4.8
OPM %
+101 bps -51 bps
3.7% 4.2% 2.6%
Other income
+9.5% -51.9%
1.6 3.4 1.5
Net profit
-7.2% -51.0%
2.8 5.8 3.0
PAT margin %
+19 bps -116 bps
1.9% 3.0% 1.7%
EPS (₹)
-7.1% -51.4%
0.52 1.07 0.56
Quality of profit
Core 58% Other income & one-offs 42%
Pre-tax profit ₹3.8 Cr: core business ₹2.2 Cr, other income ₹1.6 Cr.
Core profit YoY: -15.1%
· reported profit -7.2%
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹15.5 Cr.
Borrowings ₹90.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹179 ₹152
-15.1% below
Net profit ₹2.1 ₹2.8
+37.8% above
M Cap ₹588 Cr
P/E 45.9
PEG —
Profit -29% below its own trend Operating margin contracted 1304 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
-2.3% -21.5%
155 198 159
Operating profit
to loss to loss
-6.3 6.8 14.3
OPM %
-1304 bps -749 bps
-4.1% 3.4% 9.0%
Other income
+339.7% +87.7%
22.4 11.9 5.1
Net profit?
-30.1% -51.1%
1.9 3.8 2.6
PAT margin %
-47 bps -72 bps
1.2% 1.9% 1.7%
EPS (₹)
+0.0% -50.0%
0.02 0.04 0.02
Quality of profit
Pre-tax profit ₹3.2 Cr: core business −₹19.2 Cr, other income ₹22.4 Cr.
Core profit YoY: loss widened
· reported profit -30.1%
Cash & debt
FY25 cash from operations ₹79.0 Cr:
1124% of FY25 net profit of ₹7.0 Cr.
Borrowings ₹156 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹155
-4.7% in line
Net profit ₹2.6 ₹1.9
-29.0% below
M Cap ₹585 Cr
P/E 15.8
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+6.6%
42.3 39.7
Operating profit
+13.4%
13.7 12.1
OPM %
+194 bps
32.4% 30.4%
Other income
+17.8%
0.2 0.1
Net profit?
+16.5%
9.8 8.4
PAT margin %
+197 bps
23.2% 21.2%
EPS (₹)
+16.3%
4.13 3.55
Quality of profit
Core 99% Other income & one-offs 1%
Pre-tax profit ₹12.9 Cr: core business ₹12.7 Cr, other income ₹0.2 Cr.
Turnaround: profit against a loss a year ago Operating margin expanded 692 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
-71.9% -64.0%
46.1 128 164
Operating profit
-40.0% -25.0%
6.0 8.0 10.0
OPM %
+692 bps +677 bps
13.0% 6.2% 6.1%
Other income
from loss +0.0%
10.0 10.0 -3.0
Net profit?
from loss -54.8%
2.7 6.0 -5.0
PAT margin %
+894 bps +121 bps
5.9% 4.7% -3.0%
EPS (₹)
from loss -40.4%
0.34 0.57 -0.48
Quality of profit
Pre-tax profit ₹6.4 Cr: core business −₹5.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.4 Cr.
Cash & debt
FY25 cash from operations −₹24.0 Cr.
Borrowings ₹44.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹187 ₹46.1
-75.4% below
M Cap ₹583 Cr
P/E 12.0
PEG —
Profit -13% below its own trend Operating margin contracted 881 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.7% +0.0%
181 181 192
Operating profit
-50.0% +20.0%
18.0 15.0 36.0
OPM %
-881 bps +166 bps
9.9% 8.3% 18.8%
Other income
-100.0% -100.0%
0.0 1.0 1.0
Net profit
-56.5% +11.1%
10.0 9.0 23.0
PAT margin %
-645 bps +55 bps
5.5% 5.0% 12.0%
EPS (₹)
-56.2% +8.2%
4.23 3.91 9.66
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹13.0 Cr: core business ₹13.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -58.1%
· reported profit -56.5%
Cash & debt
FY25 cash from operations ₹73.0 Cr:
89% of FY25 net profit of ₹82.0 Cr.
Borrowings ₹39.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹181
-10.2% below
Net profit ₹11.5 ₹10.0
-13.0% below
M Cap ₹583 Cr
P/E 45.5
PEG —
Into loss: a profit a year ago Profit -275% below its own trend Operating margin expanded 120 bps YoY 64% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+115.3% +6.2%
383 360 178
Operating profit
+145.9% -6.7%
36.9 39.5 15.0
OPM %
+120 bps -134 bps
9.6% 11.0% 8.4%
Other income
-63.2% +15.8%
2.5 2.2 6.9
Net profit?
to loss to loss
-0.7 7.7 0.8
PAT margin %
-66 bps -233 bps
-0.2% 2.1% 0.5%
EPS (₹)
to loss to loss
-0.68 7.01 0.76
Quality of profit
Core 36% Other income & one-offs 64%
Pre-tax profit ₹4.0 Cr: core business ₹1.4 Cr, other income ₹2.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹99.0 Cr.
Borrowings ₹579 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹339 ₹383
+13.0% above
Net profit ₹0.4 −₹0.7
-274.6% below
Operating margin expanded 200 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.9% -0.9%
636 642 654
Operating profit
+332.7% +45.8%
16.4 11.2 3.8
OPM %
+200 bps +83 bps
2.6% 1.8% 0.6%
Other income
+17.0% +23.8%
4.1 3.3 3.5
Net profit?
loss narrowed loss narrowed
-16.2 -21.9 -25.7
PAT margin %
+138 bps +86 bps
-2.5% -3.4% -3.9%
EPS (₹)
loss narrowed loss narrowed
-0.99 -1.33 -1.57
Quality of profit
Pre-tax profit −₹23.4 Cr: core business −₹27.0 Cr, other income ₹4.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹66.0 Cr.
Borrowings ₹879 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹645 ₹636
-1.4% in line
Turnaround: profit against a loss a year ago Operating margin expanded 5838 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
+44.7% +12.2%
74.1 66.1 51.2
Operating profit
from loss from loss
0.9 -3.9 -29.3
OPM %
+5838 bps +713 bps
1.3% -5.9% -57.1%
Other income
-85.2% -28.8%
5.7 8.1 38.9
Net profit
from loss from loss
3.5 -0.4 -9.3
PAT margin %
+2294 bps +539 bps
4.7% -0.6% -18.2%
EPS (₹)
from loss from loss
0.08 -0.01 -0.22
Quality of profit
Pre-tax profit ₹3.9 Cr: core business −₹1.9 Cr, other income ₹5.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹154 Cr:
306% of FY25 net profit of ₹50.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.5 ₹74.1
+6.6% above
M Cap ₹575 Cr
P/E 108.3
PEG —
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.0% -7.7%
144 156 132
Operating profit
+15.3% +14.0%
22.8 20.0 19.8
OPM %
+86 bps +301 bps
15.9% 12.8% 15.0%
Other income
to loss to loss
-1.5 0.6 2.1
Net profit
loss widened loss narrowed
-1.9 -2.9 -0.6
PAT margin %
-84 bps +57 bps
-1.3% -1.9% -0.5%
EPS (₹)
loss widened loss narrowed
-0.11 -0.17 -0.04
Quality of profit
Pre-tax profit −₹3.2 Cr: core business −₹1.7 Cr, other income −₹1.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹65.0 Cr:
1142% of FY25 net profit of ₹5.7 Cr.
Borrowings ₹307 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹143 ₹144
+0.6% in line
M Cap ₹574 Cr
P/E 6.4
PEG 0.08
Profit -98% below its own trend Operating margin contracted 137 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-16.1 Cr in the quarter FY25 operating cash flow was only 49% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.5% +7.8%
212 197 197
Operating profit
to loss loss narrowed
-0.8 -10.0 2.0
OPM %
-137 bps +472 bps
-0.4% -5.1% 1.0%
Other income
to loss to loss
-10.0 28.1 23.9
Net profit?
-95.1% -91.1%
0.9 10.0 18.0
PAT margin %
-870 bps -466 bps
0.4% 5.1% 9.1%
EPS (₹)
-95.1% -91.2%
0.12 1.37 2.44
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹6.8 Cr, other income −₹10.0 Cr, exceptional & other items ₹17.9 Cr.
Core profit YoY: loss widened
· reported profit -95.1%
Cash & debt
FY25 cash from operations ₹38.0 Cr:
49% of FY25 net profit of ₹77.4 Cr.
Borrowings ₹40.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹218 ₹212
-2.7% in line
Net profit ₹36.0 ₹0.9
-97.5% below
M Cap ₹572 Cr
P/E 10.1
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+3.9%
79.0 76.0
Other income
+0.0%
1.0 1.0
Net profit
+11.1%
10.0 9.0
PAT margin %
+82 bps
12.7% 11.8%
EPS (₹)
+6.7%
1.92 1.80
M Cap ₹571 Cr
P/E 29.1
PEG —
Profit -50% below its own trend Operating margin contracted 301 bps YoY 28% 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
-3.8% -12.6%
82.0 93.8 85.3
Operating profit
-22.4% -14.3%
10.3 12.0 13.3
OPM %
-301 bps -25 bps
12.6% 12.8% 15.6%
Other income
-26.7% +201.5%
1.2 0.4 1.6
Net profit?
-47.1% -14.9%
3.7 4.3 6.9
PAT margin %
-366 bps -12 bps
4.5% 4.6% 8.1%
EPS (₹)
-49.6% -11.9%
1.71 1.94 3.39
Quality of profit
Core 72% Other income & one-offs 28%
Pre-tax profit ₹4.1 Cr: core business ₹3.0 Cr, other income ₹1.2 Cr.
Core profit YoY: -52.5%
· reported profit -47.1%
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-44% of FY25 net profit of ₹20.4 Cr.
Borrowings ₹94.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹99.6 ₹82.0
-17.6% below
Net profit ₹7.3 ₹3.7
-49.7% below
M Cap ₹570 Cr
P/E 14.1
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+12.2%
563 502
Operating profit
+10.0%
22.0 20.0
OPM %
-8 bps
3.9% 4.0%
Other income
+100.0%
2.0 1.0
Net profit
+71.4%
12.0 7.0
PAT margin %
+74 bps
2.1% 1.4%
EPS (₹)
+62.2%
1.33 0.82
Quality of profit
Core 93% Other income & one-offs 7%
Pre-tax profit ₹15.0 Cr: core business ₹14.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Profit +35% above its own trend Operating margin expanded 105 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
-20.8% -0.0%
340 340 430
Operating profit
+3.3% from loss
15.2 -4.1 14.8
OPM %
+105 bps +568 bps
4.5% -1.2% 3.4%
Other income
+7.1% -62.1%
17.5 46.3 16.4
Net profit?
+25.0% -64.9%
5.8 16.5 4.6
PAT margin %
+62 bps -314 bps
1.7% 4.8% 1.1%
EPS (₹)
+25.2% -64.9%
1.34 3.82 1.07
Quality of profit
Pre-tax profit ₹9.7 Cr: core business −₹8.4 Cr, other income ₹17.5 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: loss narrowed
· reported profit +25.0%
Cash & debt
FY25 cash from operations ₹78.0 Cr:
425% of FY25 net profit of ₹18.4 Cr.
Borrowings ₹622 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹460 ₹340
-26.1% below
Net profit ₹4.3 ₹5.8
+34.8% above
M Cap ₹565 Cr
P/E 12.0
PEG 0.52
Operating margin expanded 2193 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-57.7% -58.6%
39.4 95.0 93.0
Operating profit
-12.3% -27.5%
16.7 23.0 19.0
OPM %
+2193 bps +1815 bps
42.4% 24.2% 20.4%
Other income
— +341.2%
3.0 0.7 0.0
Net profit?
-3.5% -17.3%
11.6 14.0 12.0
PAT margin %
+1650 bps +1467 bps
29.4% 14.7% 12.9%
EPS (₹)
+32.4% -14.7%
4.94 5.79 3.73
Quality of profit
Core 81% Other income & one-offs 19%
Pre-tax profit ₹16.2 Cr: core business ₹13.2 Cr, other income ₹3.0 Cr.
Core profit YoY: +1.2%
· reported profit -3.5%
Cash & debt
FY25 cash from operations ₹10.0 Cr.
Borrowings ₹51.0 Cr at Mar 2025.
M Cap ₹565 Cr
P/E 21.1
PEG —
Operating margin expanded 171 bps YoY FY25 operating cash flow was only 3% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.4% -5.8%
131 139 118
Operating profit
+26.1% +95.6%
19.3 9.9 15.3
OPM %
+171 bps +763 bps
14.7% 7.1% 13.0%
Other income
to loss to loss
-0.1 0.3 0.6
Net profit?
+12.4% +171.4%
10.2 3.7 9.0
PAT margin %
+7 bps +505 bps
7.7% 2.7% 7.7%
EPS (₹)
+12.4% +171.6%
16.27 5.99 14.47
Quality of profit
Pre-tax profit ₹13.8 Cr: core business ₹13.9 Cr, other income −₹0.1 Cr.
Core profit YoY: +19.3%
· reported profit +12.4%
Cash & debt
FY25 cash from operations ₹2.0 Cr:
3% of FY25 net profit of ₹57.4 Cr.
Borrowings ₹116 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹132 ₹131
-1.0% in line
Net profit ₹11.0 ₹10.2
-7.7% in line
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+4.5%
1,666 1,595
Operating profit
+8.0%
54.0 50.0
OPM %
+11 bps
3.2% 3.1%
Other income
—
-2.0 0.0
Net profit?
-13.8%
25.0 29.0
PAT margin %
-32 bps
1.5% 1.8%
EPS (₹)
-15.0%
10.29 12.11
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹40.0 Cr, other income −₹2.0 Cr.
M Cap ₹564 Cr
P/E 84.3
PEG —
Operating margin contracted 183 bps YoY Exceptional items of ₹-6.6 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.7% +6.4%
410 386 378
Operating profit
-87.9% from loss
0.9 -9.7 7.8
OPM %
-183 bps +275 bps
0.2% -2.5% 2.1%
Other income
+41.5% -3.0%
4.6 4.8 3.3
Net profit?
loss widened loss narrowed
-10.3 -11.0 -4.4
PAT margin %
-135 bps +34 bps
-2.5% -2.8% -1.2%
EPS (₹)
loss widened loss narrowed
-0.92 -0.99 -0.39
Quality of profit
Pre-tax profit −₹15.2 Cr: core business −₹13.3 Cr, other income ₹4.6 Cr, exceptional & other items −₹6.6 Cr.
Core profit YoY: loss widened
Against its own trend ?
Trend Actual Gap
Sales ₹389 ₹410
+5.6% above
M Cap ₹562 Cr
P/E 12.5
PEG 0.13
Profit -13% below its own trend Operating margin contracted 176 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.4% +16.3%
192 165 161
Operating profit
-3.2% -6.2%
14.5 15.5 15.0
OPM %
-176 bps -181 bps
7.6% 9.4% 9.3%
Other income
+63.3% +273.7%
4.9 1.3 3.0
Net profit?
+34.2% +38.9%
10.7 7.7 8.0
PAT margin %
+62 bps +91 bps
5.6% 4.7% 5.0%
EPS (₹)
+31.0% +36.9%
4.56 3.33 3.48
Quality of profit
Core 65% Other income & one-offs 35%
Pre-tax profit ₹14.0 Cr: core business ₹9.1 Cr, other income ₹4.9 Cr.
Core profit YoY: +50.9%
· reported profit +34.2%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
308% of FY25 net profit of ₹12.0 Cr.
Borrowings ₹145 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹192
-2.7% in line
Net profit ₹12.3 ₹10.7
-12.9% below
M Cap ₹560 Cr
P/E 13.6
PEG —
Profit -86% below its own trend Operating margin contracted 473 bps YoY 98% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-24.6% +66.8%
408 245 542
Operating profit
-61.1% -26.3%
20.6 28.0 53.0
OPM %
-473 bps -639 bps
5.1% 11.4% 9.8%
Other income
+126.8% -9.3%
4.5 5.0 2.0
Net profit?
-90.0% -76.7%
2.8 12.0 28.0
PAT margin %
-448 bps -421 bps
0.7% 4.9% 5.2%
EPS (₹)
-89.9% -76.7%
1.87 8.02 18.52
Quality of profit
Core 2% Other income & one-offs 98%
Pre-tax profit ₹4.6 Cr: core business ₹0.1 Cr, other income ₹4.5 Cr.
Core profit YoY: -99.6%
· reported profit -90.0%
Cash & debt
FY25 cash from operations ₹100 Cr:
87% of FY25 net profit of ₹116 Cr.
Borrowings ₹435 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹515 ₹408
-20.7% below
Net profit ₹20.6 ₹2.8
-86.4% below
Operating margin expanded 185 bps YoY Exceptional items of ₹1.1 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-43.3% -38.5%
278 452 490
Operating profit
+46.0% from loss
8.4 -4.1 5.8
OPM %
+185 bps +394 bps
3.0% -0.9% 1.2%
Other income
to loss to loss
-4.7 47.3 40.6
Net profit?
loss widened loss widened
-23.4 -4.0 -6.0
PAT margin %
-719 bps -752 bps
-8.4% -0.9% -1.2%
EPS (₹)
loss widened loss widened
-1.01 -0.17 -0.26
Quality of profit
Pre-tax profit −₹21.7 Cr: core business −₹29.0 Cr, other income −₹4.7 Cr, exceptional & other items ₹11.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹57.0 Cr.
Borrowings ₹717 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹542 ₹278
-48.7% below
M Cap ₹556 Cr
P/E 17.6
PEG —
Profit -29% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.2% +0.1%
161 161 153
Operating profit
+0.0% -7.8%
11.0 11.9 11.0
OPM %
-36 bps -58 bps
6.8% 7.4% 7.2%
Other income
+0.0% +49.5%
1.0 0.7 1.0
Net profit
-28.6% -18.7%
5.0 6.2 7.0
PAT margin %
-147 bps -72 bps
3.1% 3.8% 4.6%
EPS (₹)
-30.3% -22.8%
1.29 1.67 1.85
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹6.0 Cr: core business ₹6.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -25.0%
· reported profit -28.6%
Cash & debt
FY25 cash from operations ₹35.0 Cr:
125% of FY25 net profit of ₹28.0 Cr.
Borrowings ₹55.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹186 ₹161
-13.5% below
Net profit ₹7.1 ₹5.0
-29.5% below
₹ Cr
Dec 2025
Sales
104
Operating profit
13.0
OPM %
12.5%
Other income
1.0
Net profit
9.0
PAT margin %
8.7%
EPS (₹)
3.24
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 91% Other income & one-offs 9%
Pre-tax profit ₹11.0 Cr: core business ₹10.0 Cr, other income ₹1.0 Cr.
Cash & debt
FY25 cash from operations ₹12.0 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Into loss: a profit a year ago
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
-31.0% +22.5%
126 103 183
Net interest income
-55.2% +16.1%
59.8 51.5 134
Other income
-2.5% +53.6%
56.7 36.9 58.1
Net profit?
to loss loss narrowed
-1.2 -33.1 89.3
EPS (₹)
to loss loss narrowed
-5.38 -43.89 80.51
M Cap ₹548 Cr
P/E 18.9
PEG 0.86
Core business grew faster than reported profit (core profit +63%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.8% +3.9%
232 223 219
Operating profit
+25.6% +0.7%
11.8 11.7 9.4
OPM %
+80 bps -16 bps
5.1% 5.3% 4.3%
Other income
to loss to loss
-0.2 1.2 5.4
Net profit
-36.2% -22.3%
4.6 5.9 7.2
PAT margin %
-130 bps -66 bps
2.0% 2.6% 3.3%
EPS (₹)
-36.2% -22.3%
4.97 6.40 7.79
Quality of profit
Pre-tax profit ₹6.2 Cr: core business ₹6.4 Cr, other income −₹0.2 Cr.
Core profit YoY: +63.4%
· reported profit -36.2%
Cash & debt
Borrowings ₹4.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹227 ₹232
+2.3% in line
Net profit ₹5.0 ₹4.6
-9.2% in line
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, 08:56 IST