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.
Updated 14 Oct 2026, 09:57 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 ₹381 Cr
P/E 32.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 3275 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+109.5% +13.9%
4.9 4.3 2.4
Operating profit
— from loss
1.8 -0.7 0.1
OPM %
+3275 bps +5364 bps
37.1% -16.5% 4.4%
Other income
-98.9% —
0.0 — 0.1
Net profit
from loss -89.5%
1.5 14.1 -22.7
PAT margin %
— —
29.9% — —
EPS (₹)
from loss -89.6%
0.58 5.56 -8.96
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹1.5 Cr: core business ₹1.5 Cr, other income ₹0.0 Cr.
Against its own trend ?
Trend Actual Gap
Sales ₹4.7 ₹4.9
+4.7% in line
M Cap ₹380 Cr
P/E 46.7
PEG —
Profit -70% below its own trend Operating margin contracted 868 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.0% +71.6%
82.7 48.2 73.2
Operating profit
-26.4% -12.8%
13.4 15.4 18.2
OPM %
-868 bps -1568 bps
16.2% 31.9% 24.9%
Other income
+52.9% +7.6%
0.6 0.6 0.4
Net profit
-61.3% -0.3%
2.6 2.6 6.8
PAT margin %
-608 bps -229 bps
3.2% 5.5% 9.2%
EPS (₹)
-98.6% -94.4%
0.01 0.18 0.72
Quality of profit
Core 86% Other income & one-offs 14%
Pre-tax profit ₹4.5 Cr: core business ₹3.9 Cr, other income ₹0.6 Cr.
Core profit YoY: -44.7%
· reported profit -61.3%
Cash & debt
FY25 cash from operations −₹5.0 Cr:
-46% of FY25 net profit of ₹10.9 Cr.
Borrowings ₹271 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹66.9 ₹82.7
+23.5% above
Net profit ₹8.8 ₹2.6
-70.1% below
Profit +48% above its own trend Operating margin contracted 513 bps YoY 82% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -65%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.1% -3.1%
184 190 188
Operating profit
-58.7% -1.7%
6.9 7.0 16.7
OPM %
-513 bps +5 bps
3.7% 3.7% 8.9%
Other income
+98.0% +62.1%
17.0 10.5 8.6
Net profit?
+11.5% +38.6%
14.5 10.5 13.0
PAT margin %
+96 bps +238 bps
7.9% 5.5% 6.9%
EPS (₹)
+13.8% +32.1%
2.22 1.68 1.95
Quality of profit
Core 18% Other income & one-offs 82%
Pre-tax profit ₹20.7 Cr: core business ₹3.7 Cr, other income ₹17.0 Cr.
Core profit YoY: -64.7%
· reported profit +11.5%
Cash & debt
FY25 cash from operations −₹275 Cr:
-473% of FY25 net profit of ₹58.1 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹270 ₹184
-32.0% below
Net profit ₹9.8 ₹14.5
+48.0% above
₹ Cr
Dec 2025
Sales
104
Operating profit
9.9
OPM %
9.5%
Other income
0.0
Net profit?
3.2
PAT margin %
3.0%
EPS (₹)
3.04
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹4.1 Cr: core business ₹4.1 Cr, other income ₹0.0 Cr.
Cash & debt
FY25 cash from operations ₹31.0 Cr.
Borrowings ₹69.0 Cr at Mar 2025.
Operating margin contracted 383 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.3% -28.1%
118 164 114
Operating profit
to loss to loss
-1.3 12.7 3.1
OPM %
-383 bps -882 bps
-1.1% 7.7% 2.7%
Other income
+71.8% +60.8%
0.9 0.6 0.5
Net profit?
loss widened to loss
-7.3 2.1 -5.7
PAT margin %
-121 bps -749 bps
-6.2% 1.3% -5.0%
EPS (₹)
loss widened to loss
-0.53 0.16 -0.41
Quality of profit
Pre-tax profit −₹9.9 Cr: core business −₹10.9 Cr, other income ₹0.9 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹28.0 Cr.
Borrowings ₹48.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹92.9 ₹118
+27.2% above
M Cap ₹377 Cr
P/E 43.5
PEG —
Profit -85% below its own trend Operating margin expanded 905 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-76.9% -73.0%
4.3 15.8 18.5
Operating profit
-67.1% -72.6%
1.3 4.7 3.9
OPM %
+905 bps +50 bps
30.4% 29.9% 21.3%
Other income
— -84.0%
0.1 0.3 0.0
Net profit?
-69.4% -77.4%
0.8 3.5 2.6
PAT margin %
+461 bps -361 bps
18.8% 22.4% 14.2%
EPS (₹)
-70.0% -78.6%
0.03 0.14 0.10
Quality of profit
Core 94% Other income & one-offs 6%
Pre-tax profit ₹1.0 Cr: core business ₹0.9 Cr, other income ₹0.1 Cr.
Core profit YoY: -73.3%
· reported profit -69.4%
Against its own trend ?
Trend Actual Gap
Sales ₹36.9 ₹4.3
-88.5% below
Net profit ₹5.2 ₹0.8
-84.7% below
M Cap ₹376 Cr
P/E 18.2
PEG —
Profit +700% above its own trend 94% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.8% +1.2%
1,076 1,063 1,007
Operating profit
+50.8% +27.0%
10.6 8.4 7.0
OPM %
+29 bps +20 bps
1.0% 0.8% 0.7%
Other income
-7.6% -19.2%
6.8 8.4 7.4
Net profit?
+805.7% +49.1%
5.2 3.5 0.6
PAT margin %
+43 bps +16 bps
0.5% 0.3% 0.1%
EPS (₹)
+798.3% +47.2%
0.53 0.36 0.06
Quality of profit
Core 6% Other income & one-offs 94%
Pre-tax profit ₹7.3 Cr: core business ₹0.5 Cr, other income ₹6.8 Cr.
Core profit YoY: from loss
· reported profit +805.7%
Cash & debt
FY25 cash from operations ₹17.0 Cr:
115% of FY25 net profit of ₹14.8 Cr.
Borrowings ₹280 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,246 ₹1,076
-13.7% below
Net profit ₹0.7 ₹5.2
+700.0% above
Operating margin contracted 4678 bps YoY Exceptional items of ₹70.0 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-19.8% +2.7%
299 291 373
Operating profit
to loss to loss
-41.5 31.9 123
OPM %
-4678 bps -2483 bps
-13.9% 10.9% 32.9%
Other income
-36.9% -30.5%
5.7 8.2 9.0
Net profit?
loss widened loss widened
-276 -133 -46.5
PAT margin %
-7989 bps -4681 bps
-92.4% -45.6% -12.5%
EPS (₹)
loss widened loss widened
-1.44 -0.69 -0.24
Quality of profit
Pre-tax profit −₹276 Cr: core business −₹212 Cr, other income ₹5.7 Cr, exceptional & other items −₹70.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹410 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹285 ₹299
+4.9% in line
M Cap ₹373 Cr
P/E 15.2
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+45.2%
128 88.0
Operating profit
from loss
8.0 -6.6
OPM %
+1370 bps
6.2% -7.5%
Other income
-92.6%
1.6 21.3
Net profit
-36.4%
6.1 9.6
PAT margin %
-613 bps
4.8% 10.9%
EPS (₹)
-27.6%
0.92 1.27
Quality of profit
Core 80% Other income & one-offs 20%
Pre-tax profit ₹7.8 Cr: core business ₹6.2 Cr, other income ₹1.6 Cr.
M Cap ₹372 Cr
P/E 19.1
PEG 0.50
Profit -21% below its own trend Operating margin contracted 573 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
-26.9% -42.8%
162 283 221
Operating profit
loss widened loss narrowed
-13.7 -18.9 -6.1
OPM %
-573 bps -181 bps
-8.5% -6.7% -2.8%
Other income
+22.1% +129.4%
29.2 12.7 23.9
Net profit?
-6.4% +148.4%
9.9 4.0 10.6
PAT margin %
+134 bps +471 bps
6.1% 1.4% 4.8%
EPS (₹)
-6.5% +104.9%
1.66 0.81 adj. 1.77
EPS restated for the 1:1 bonus of Feb 2025: Dec 2024 ₹3.55 to ₹1.77.
Quality of profit
Pre-tax profit ₹13.2 Cr: core business −₹16.1 Cr, other income ₹29.2 Cr.
Core profit YoY: loss widened
· reported profit -6.4%
Cash & debt
FY25 cash from operations ₹100 Cr.
Borrowings ₹264 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹220 ₹162
-26.3% below
Net profit ₹12.6 ₹9.9
-21.4% below
M Cap ₹372 Cr
P/E 10.1
PEG 0.01
Profit -53% below its own trend Operating margin expanded 108 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
-46.1% -36.3%
500 785 926
Operating profit
-27.5% -10.2%
21.0 23.4 29.0
OPM %
+108 bps +123 bps
4.2% 3.0% 3.1%
Other income
-21.9% -20.9%
1.4 1.8 1.9
Net profit
-54.8% -68.5%
3.0 9.4 6.6
PAT margin %
-12 bps -61 bps
0.6% 1.2% 0.7%
EPS (₹)
-60.0% -71.4%
0.02 0.07 0.05
Quality of profit
Core 65% Other income & one-offs 35%
Pre-tax profit ₹4.1 Cr: core business ₹2.7 Cr, other income ₹1.4 Cr.
Core profit YoY: -60.9%
· reported profit -54.8%
Cash & debt
FY25 cash from operations ₹95.0 Cr:
284% of FY25 net profit of ₹33.5 Cr.
Borrowings ₹249 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,511 ₹500
-66.9% below
Net profit ₹6.3 ₹3.0
-52.5% below
M Cap ₹372 Cr
P/E 30.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 7178 bps YoY 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+104.1% +64.1%
35.8 21.8 17.6
Operating profit
from loss -38.3%
2.5 4.0 -11.4
OPM %
+7178 bps -1149 bps
6.9% 18.4% -64.9%
Other income
-4.7% -15.9%
1.4 1.7 1.5
Net profit
from loss -33.6%
2.6 3.9 -7.8
PAT margin %
+5165 bps -1055 bps
7.2% 17.7% -44.5%
EPS (₹)
from loss -33.6%
4.84 7.29 -14.71
Quality of profit
Core 58% Other income & one-offs 42%
Pre-tax profit ₹3.4 Cr: core business ₹2.0 Cr, other income ₹1.4 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹3.0 Cr:
178% of FY25 net profit of ₹1.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹21.5 ₹35.8
+66.7% above
Profit +422% above its own trend Operating margin expanded 286 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.7% +16.0%
145 125 131
Operating profit
+62.5% +44.4%
13.0 9.0 8.0
OPM %
+286 bps +177 bps
9.0% 7.2% 6.1%
Other income
+0.0% +0.0%
1.0 1.0 1.0
Net profit
+400.0% +66.7%
5.0 3.0 1.0
PAT margin %
+268 bps +105 bps
3.4% 2.4% 0.8%
EPS (₹)
+558.0% +83.1%
4.54 2.48 0.69
Quality of profit
Core 86% Other income & one-offs 14%
Pre-tax profit ₹7.0 Cr: core business ₹6.0 Cr, other income ₹1.0 Cr.
Core profit YoY: —
· reported profit +400.0%
Cash & debt
FY25 cash from operations ₹54.0 Cr:
284% of FY25 net profit of ₹19.0 Cr.
Borrowings ₹78.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹129 ₹145
+12.3% above
Net profit ₹1.0 ₹5.0
+421.7% above
M Cap ₹371 Cr
P/E 8.9
PEG 0.41
Profit +999% above its own trend Operating margin expanded 4538 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— +62.0%
42.1 26.0 3.2
Operating profit
from loss +40.8%
15.5 11.0 -0.3
OPM %
+4538 bps -553 bps
36.8% 42.3% -8.6%
Other income
-78.7% —
0.1 0.0 0.7
Net profit?
— +39.1%
11.1 8.0 0.2
PAT margin %
+2057 bps -435 bps
26.4% 30.8% 5.9%
EPS (₹)
— +31.9%
0.62 0.47 0.01
Quality of profit
Core 99% Other income & one-offs 1%
Pre-tax profit ₹15.1 Cr: core business ₹15.0 Cr, other income ₹0.1 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹5.0 Cr:
-45% of FY25 net profit of ₹11.0 Cr.
Borrowings ₹73.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.5 ₹42.1
+830.2% above
Net profit ₹0.2 ₹11.1
+999.0% above
M Cap ₹368 Cr
P/E 19.7
PEG —
Profit +11% above its own trend 40% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.8% +11.6%
169 152 146
Operating profit
+1.4% +39.0%
3.7 2.7 3.7
OPM %
-31 bps +43 bps
2.2% 1.8% 2.5%
Other income
-17.1% +95.3%
2.5 1.3 3.0
Net profit
-9.8% +56.9%
4.5 2.9 5.0
PAT margin %
-76 bps +77 bps
2.7% 1.9% 3.4%
EPS (₹)
-9.5% +56.3%
2.47 1.58 2.73
Quality of profit
Core 60% Other income & one-offs 40%
Pre-tax profit ₹6.2 Cr: core business ₹3.7 Cr, other income ₹2.5 Cr.
Core profit YoY: +1.4%
· reported profit -9.8%
Cash & debt
FY25 cash from operations ₹24.0 Cr:
107% of FY25 net profit of ₹22.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹169
+16.8% above
Net profit ₹4.1 ₹4.5
+10.9% above
M Cap ₹367 Cr
P/E 13.1
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+58.4%
126 79.7
Operating profit
+93.0%
15.2 7.9
OPM %
+216 bps
12.1% 9.9%
Other income
+104.2%
1.0 0.5
Net profit?
+123.6%
9.5 4.2
PAT margin %
+219 bps
7.5% 5.3%
EPS (₹)
+122.5%
1.58 0.71
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹12.7 Cr: core business ₹11.7 Cr, other income ₹1.0 Cr.
Operating margin contracted 362 bps YoY
₹ Cr YoY
Dec 2025 Dec 2024
Sales
+49.5%
194 129
Operating profit
loss widened
-19.7 -8.5
OPM %
-362 bps
-10.2% -6.5%
Other income
+161.0%
6.4 2.5
Net profit?
loss widened
-23.4 -8.3
PAT margin %
-563 bps
-12.1% -6.4%
EPS (₹)
loss widened
-25.54 -9.12
Quality of profit
Pre-tax profit −₹20.9 Cr: core business −₹27.3 Cr, other income ₹6.4 Cr.
Core profit YoY: loss widened
M Cap ₹367 Cr
P/E 17.6
PEG 0.39
Profit -40% below its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+32.6% +3.9%
164 158 124
Operating profit
+22.9% —
19.3 0.3 15.7
OPM %
-93 bps +1157 bps
11.7% 0.2% 12.7%
Other income
-100.0% -100.0%
0.0 17.0 0.0
Net profit?
+19.2% +35.0%
4.3 3.2 3.6
PAT margin %
-30 bps +61 bps
2.6% 2.0% 2.9%
EPS (₹)
+19.3% +35.2%
5.07 3.75 4.25
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹5.5 Cr: core business ₹5.5 Cr, other income ₹0.0 Cr.
Core profit YoY: +13.6%
· reported profit +19.2%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-63% of FY25 net profit of ₹12.6 Cr.
Borrowings ₹272 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹148 ₹164
+11.2% above
Net profit ₹7.3 ₹4.3
-40.4% below
M Cap ₹367 Cr
P/E 9.2
PEG 0.08
Profit +449% above its own trend Operating margin contracted 157 bps YoY Profit grew faster than the core business (core profit +15%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+34.3% +20.8%
209 173 156
Operating profit
+14.5% +11.8%
19.0 17.0 16.6
OPM %
-157 bps -74 bps
9.1% 9.8% 10.7%
Other income
-18.0% +0.0%
1.0 1.0 1.2
Net profit
+306.5% +66.7%
5.0 3.0 1.2
PAT margin %
+160 bps +66 bps
2.4% 1.7% 0.8%
EPS (₹)
+248.4% +74.2%
1.08 0.62 0.31
Quality of profit
Core 80% Other income & one-offs 20%
Pre-tax profit ₹5.0 Cr: core business ₹4.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +15.3%
· reported profit +306.5%
Cash & debt
FY25 cash from operations ₹66.0 Cr:
355% of FY25 net profit of ₹18.6 Cr.
Borrowings ₹287 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹209
+31.0% above
Net profit ₹0.9 ₹5.0
+448.9% above
M Cap ₹366 Cr
P/E 6.0
PEG 0.18
Turnaround: profit against a loss a year ago Operating margin expanded 6581 bps YoY 50% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.2% +282.9%
117 30.6 99.0
Operating profit
from loss from loss
38.0 -2.4 -33.0
OPM %
+6581 bps +4030 bps
32.5% -7.8% -33.3%
Other income
from loss -88.9%
10.0 90.0 -1.0
Net profit?
from loss from loss
13.0 -2.3 -203
PAT margin %
— +1851 bps
11.1% -7.4% —
EPS (₹)
from loss -89.2%
1.08 10.01 -27.15
Quality of profit
Core 50% Other income & one-offs 50%
Pre-tax profit ₹20.0 Cr: core business ₹10.0 Cr, other income ₹10.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹32.0 Cr.
Borrowings ₹660 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹95.2 ₹117
+22.9% above
M Cap ₹364 Cr
P/E 18.8
PEG —
32% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+26.1%
119 94.4
Operating profit
+35.2%
7.5 5.5
OPM %
+42 bps
6.3% 5.8%
Other income
-1.7%
1.8 1.8
Net profit?
+42.9%
4.6 3.2
PAT margin %
+46 bps
3.9% 3.4%
EPS (₹)
+35.3%
1.38 1.02
Quality of profit
Core 68% Other income & one-offs 32%
Pre-tax profit ₹6.2 Cr: core business ₹4.2 Cr, other income ₹1.8 Cr.
M Cap ₹363 Cr
P/E 13.2
PEG —
Operating margin contracted 641 bps YoY Profit grew faster than the core business (core profit -44%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.9% +18.3%
124 105 116
Operating profit
-29.6% +30.1%
15.3 11.8 21.8
OPM %
-641 bps +113 bps
12.4% 11.3% 18.8%
Other income
+29.1% -2.3%
2.1 2.2 1.7
Net profit?
-21.9% +51.3%
11.6 7.7 14.8
PAT margin %
-346 bps +204 bps
9.4% 7.3% 12.8%
EPS (₹)
-17.6% +28.7%
1.03 0.80 1.25
Quality of profit
Core 83% Other income & one-offs 17%
Pre-tax profit ₹12.5 Cr: core business ₹10.3 Cr, other income ₹2.1 Cr.
Core profit YoY: -43.7%
· reported profit -21.9%
Cash & debt
FY25 cash from operations ₹43.0 Cr:
91% of FY25 net profit of ₹47.1 Cr.
Borrowings ₹117 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹124
+3.9% in line
Net profit ₹11.9 ₹11.6
-2.4% in line
M Cap ₹361 Cr
P/E 15.3
PEG —
Profit -100% below its own trend Operating margin expanded 151 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-20.8% -22.1%
150 193 189
Operating profit
-8.6% -3.6%
17.0 17.6 18.6
OPM %
+151 bps +217 bps
11.3% 9.2% 9.8%
Other income
-39.7% -22.3%
2.0 2.6 3.3
Net profit?
-100.0% -100.0%
0.0 0.7 0.8
PAT margin %
-42 bps -35 bps
0.0% 0.3% 0.4%
EPS (₹)
-40.0% -25.0%
0.06 0.08 0.10
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹1.0 Cr, other income ₹2.0 Cr.
Core profit YoY: loss narrowed
· reported profit -100.0%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
36% of FY25 net profit of ₹41.7 Cr.
Borrowings ₹440 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹217 ₹150
-30.8% below
Net profit ₹0.5 ₹0.0
-100.0% below
37% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-95.3%
116 2,483
Operating profit
-96.3%
11.7 320
OPM %
-281 bps
10.1% 12.9%
Other income
-87.0%
2.5 19.6
Net profit?
-98.1%
3.9 207
PAT margin %
-500 bps
3.3% 8.3%
EPS (₹)
-55.5%
0.77 1.73
Quality of profit
Core 63% Other income & one-offs 37%
Pre-tax profit ₹7.4 Cr: core business ₹4.7 Cr, other income ₹2.5 Cr.
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-91.5% -46.7%
4.9 9.2 57.2
Operating profit
loss widened loss widened
-26.5 -24.1 -8.7
Other income
-43.3% -12.2%
7.2 8.2 12.7
Net profit?
loss widened loss widened
-37.3 -35.5 -19.5
EPS (₹)
loss widened loss widened
-8.50 -8.11 -5.14
Quality of profit
Pre-tax profit −₹43.7 Cr: core business −₹50.9 Cr, other income ₹7.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹75.0 Cr.
Borrowings ₹1,905 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹75.4 ₹4.9
-93.5% below
Profit -33% below its own trend Operating margin expanded 399 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.5% +4.4%
68.6 65.7 64.4
Operating profit
+19.6% +0.6%
25.0 24.9 20.9
OPM %
+399 bps -138 bps
36.5% 37.9% 32.5%
Other income
from loss -51.4%
0.7 1.5 -0.1
Net profit
-0.4% -30.2%
5.2 7.5 5.2
PAT margin %
-53 bps -378 bps
7.6% 11.4% 8.1%
EPS (₹)
+0.0% -30.5%
0.66 0.95 0.66
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹7.0 Cr: core business ₹6.3 Cr, other income ₹0.7 Cr.
Core profit YoY: -12.2%
· reported profit -0.4%
Cash & debt
FY25 cash from operations ₹56.0 Cr:
288% of FY25 net profit of ₹19.5 Cr.
Borrowings ₹112 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹94.3 ₹68.6
-27.3% below
Net profit ₹7.8 ₹5.2
-33.3% below
M Cap ₹356 Cr
P/E 10.0
PEG 0.14
Turnaround: profit against a loss a year ago Operating margin expanded 955 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.1% -13.7%
82.0 95.0 75.2
Operating profit
+135.0% -12.0%
14.6 16.6 6.2
OPM %
+955 bps +34 bps
17.8% 17.5% 8.3%
Other income
+115.3% +3.1%
0.7 0.7 0.3
Net profit
from loss -11.9%
9.0 10.3 -0.7
PAT margin %
+1194 bps +23 bps
11.0% 10.8% -0.9%
EPS (₹)
from loss -11.7%
1.06 1.20 -0.08
Quality of profit
Core 94% Other income & one-offs 6%
Pre-tax profit ₹12.0 Cr: core business ₹11.3 Cr, other income ₹0.7 Cr.
Cash & debt
FY25 cash from operations ₹10.0 Cr:
238% of FY25 net profit of ₹4.2 Cr.
Borrowings ₹74.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹72.8 ₹82.0
+12.6% above
Turnaround: profit against a loss a year ago Operating margin contracted 1529 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 1% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.1% +17.4%
64.8 55.2 65.5
Operating profit
loss widened loss narrowed
-16.1 -18.5 -6.2
OPM %
-1529 bps +876 bps
-24.8% -33.5% -9.5%
Other income
— +744.2%
34.0 4.0 0.9
Net profit?
from loss from loss
6.0 -25.9 -69.2
PAT margin %
— +5618 bps
9.3% -46.9% —
EPS (₹)
from loss from loss
0.19 -0.83 -2.23
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹28.0 Cr, other income ₹34.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹37.0 Cr:
1% of FY25 net profit of ₹5,565 Cr.
Borrowings ₹199 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.7 ₹64.8
+97.9% above
Operating margin expanded 1667 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+66.7% +41.0%
110 78.0 66.0
Operating profit
from loss from loss
5.0 -4.0 -8.0
OPM %
+1667 bps +967 bps
4.5% -5.1% -12.1%
Other income
-50.0% +0.0%
1.0 1.0 2.0
Net profit
— loss widened
-44.0 -42.0 -44.0
PAT margin %
+2667 bps +1385 bps
-40.0% -53.8% -66.7%
EPS (₹)
loss widened loss widened
-4.79 -4.55 -4.74
Quality of profit
Pre-tax profit −₹44.0 Cr: core business −₹44.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹60.0 Cr.
Borrowings ₹757 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹78.8 ₹110
+39.6% above
M Cap ₹355 Cr
P/E 41.5
PEG —
Profit -85% below its own trend Operating margin contracted 106 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.0% +3.8%
181 174 160
Operating profit
-1.3% -12.6%
13.2 15.2 13.4
OPM %
-106 bps -138 bps
7.3% 8.7% 8.4%
Other income
to loss to loss
-0.0 0.1 0.2
Net profit
-75.1% -70.1%
0.6 2.0 2.4
PAT margin %
-115 bps -80 bps
0.3% 1.1% 1.5%
EPS (₹)
-74.8% -69.8%
0.35 1.16 1.39
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹1.1 Cr, other income −₹0.0 Cr.
Core profit YoY: -68.5%
· reported profit -75.1%
Cash & debt
FY25 cash from operations ₹74.0 Cr:
546% of FY25 net profit of ₹13.6 Cr.
Borrowings ₹156 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹173 ₹181
+4.7% in line
Net profit ₹3.9 ₹0.6
-84.8% 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 14 Oct 2026, 09:57 IST