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: 38 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
1051 matching results 1051
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M Cap ₹3,654 Cr
P/E 25.3
PEG 3.62
Profit +105% above its own trend Operating margin expanded 183 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY
Dec 2025 Dec 2024
Sales
+0.9%
431 427 Operating profit
+23.4%
43.3 35.1 OPM %
+183 bps
10.1% 8.2% Other income
+89.1%
13.2 7.0 Net profit?
+56.5%
33.6 21.5 PAT margin %
+277 bps
7.8% 5.0% EPS (₹)
+32.3%
3.48 2.63
Quality of profit
Pre-tax profit ₹44.8 Cr: core business ₹31.6 Cr, other income ₹13.2 Cr.
Core profit YoY: +47.0%
· reported profit +56.5%
Cash & debt
FY25 cash from operations ₹127 Cr:
136% of FY25 net profit of ₹93.3 Cr.
Borrowings ₹120 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹446 ₹431
-3.5% in line Net profit ₹16.4 ₹33.6
+105.2% above
M Cap ₹3,586 Cr
P/E 21.7
PEG 1.67
Profit -26% below its own trend Operating margin contracted 573 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
+5.8% -0.1%
291 291 275 Operating profit
-26.1% -10.0%
38.7 43.0 52.3 OPM %
-573 bps -147 bps
13.3% 14.8% 19.0% Other income
+0.2% +8.3%
11.9 11.0 11.9 Net profit?
-25.0% -17.1%
32.3 39.0 43.1 PAT margin %
-457 bps -228 bps
11.1% 13.4% 15.7% EPS (₹)
-25.3% -16.5%
0.71 0.85 0.95
Quality of profit
Pre-tax profit ₹44.0 Cr: core business ₹32.1 Cr, other income ₹11.9 Cr.
Core profit YoY: -30.4%
· reported profit -25.0%
Cash & debt
FY25 cash from operations ₹144 Cr:
97% of FY25 net profit of ₹149 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹277 ₹291
+5.0% in line Net profit ₹44.0 ₹32.3
-26.5% below
M Cap ₹3,585 Cr
P/E 12.1
PEG 1.10
Profit -29% below its own trend Operating margin expanded 190 bps YoY 57% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +12%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+20.7% -4.1%
210 219 174 Operating profit
+49.0% from loss 21.0 -6.3 14.1 OPM %
+190 bps +1289 bps
10.0% -2.9% 8.1% Other income
-29.6% +35.1%
8.0 5.9 11.4 Net profit?
-12.5% from loss 13.0 -16.2 14.9 PAT margin %
-234 bps +1359 bps
6.2% -7.4% 8.5% EPS (₹)
-14.8% from loss 2.53 -3.02 2.97
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹6.0 Cr, other income ₹8.0 Cr.
Core profit YoY: +11.9%
· reported profit -12.5%
Cash & debt
FY25 cash from operations ₹197 Cr:
70% of FY25 net profit of ₹282 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹199 ₹210
+5.4% above Net profit ₹18.3 ₹13.0
-29.0% below
M Cap ₹3,560 Cr
P/E 32.0
PEG 1.18
Operating margin expanded 523 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
-0.7% +11.4%
728 654 733 Operating profit
+41.6% +146.6%
127 51.7 90.0 OPM %
+523 bps +960 bps
17.5% 7.9% 12.3% Other income
+8.4% +10.0%
98.7 89.7 91.0 Net profit?
— from loss 54.3 -31.6 4.0 PAT margin %
+691 bps +1228 bps
7.5% -4.8% 0.5% EPS (₹)
+900.0% from loss 0.10 -0.06 0.01
Quality of profit
Pre-tax profit ₹54.3 Cr: core business −₹44.4 Cr, other income ₹98.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹410 Cr:
185% of FY25 net profit of ₹222 Cr.
Borrowings ₹3,615 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹684 ₹728
+6.4% above
M Cap ₹3,559 Cr
P/E 37.7
PEG 2.69
Profit -60% below its own trend Operating margin contracted 1213 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.2% +1.6%
160 158 181 Operating profit
-58.6% -15.2%
17.0 20.0 41.0 OPM %
-1213 bps -209 bps
10.6% 12.7% 22.7% Other income
+308.3% +104.2%
4.1 2.0 1.0 Net profit?
-62.7% +18.8%
13.1 11.0 35.0 PAT margin %
-1123 bps +118 bps
8.1% 7.0% 19.4% EPS (₹)
-62.9% +17.5%
2.08 1.77 5.60
Quality of profit
Pre-tax profit ₹12.9 Cr: core business ₹8.8 Cr, other income ₹4.1 Cr.
Core profit YoY: -73.3%
· reported profit -62.7%
Cash & debt
FY25 cash from operations ₹55.0 Cr:
63% of FY25 net profit of ₹87.0 Cr.
Borrowings ₹99.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹219 ₹160
-26.8% below Net profit ₹32.3 ₹13.1
-59.6% below
M Cap ₹3,550 Cr
P/E 0.6
PEG —
Profit +999% above its own trend Operating margin contracted 315 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹5,854 Cr in the quarter Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-2.8% -18.5%
174 213 179 Operating profit
loss widened loss widened -48.6 -14.0 -44.4 OPM %
-315 bps -2144 bps
-28.0% -6.6% -24.9% Other income
+10.9% —
102 1.0 91.9 Net profit?
— —
5,023 20.0 177 EPS (₹)
— —
834.39 3.27 28.47
Quality of profit
Pre-tax profit ₹5,829 Cr: core business −₹128 Cr, other income ₹102 Cr, exceptional & other items ₹5,854 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹342 Cr:
-137% of FY25 net profit of ₹250 Cr.
Borrowings ₹1,124 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹138 ₹174
+25.8% above Net profit ₹88.4 ₹5,023
+999.0% above
M Cap ₹3,547 Cr
P/E 5.5
PEG —
Profit +60% above its own trend Operating margin contracted 588 bps YoY 31% 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
-18.3% -25.3%
1,201 1,608 1,470 Operating profit
-36.9% +6.5%
239 224 379 OPM %
-588 bps +594 bps
19.9% 14.0% 25.8% Other income
-11.9% -12.0%
37.0 42.1 42.0 Net profit?
-4.9% -41.6%
77.0 132 81.0 PAT margin %
+90 bps -179 bps
6.4% 8.2% 5.5% EPS (₹)
-5.7% -41.8%
2.99 5.14 3.17
Quality of profit
Pre-tax profit ₹118 Cr: core business ₹81.0 Cr, other income ₹37.0 Cr.
Core profit YoY: +0.0%
· reported profit -4.9%
Cash & debt
FY25 cash from operations −₹56.0 Cr:
-7% of FY25 net profit of ₹814 Cr.
Borrowings ₹9,364 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,010 ₹1,201
+18.9% above Net profit ₹48.1 ₹77.0
+60.1% above
M Cap ₹3,503 Cr
P/E 16.9
PEG 0.74
Profit +47% 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 +20%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.2% -1.2%
237 240 208 Operating profit
+18.1% +9.9%
55.5 50.5 47.0 OPM %
+77 bps +236 bps
23.4% 21.0% 22.6% Other income
+545.1% +50.7%
19.4 12.8 3.0 Net profit?
+63.7% +24.2%
50.7 40.8 31.0 PAT margin %
+646 bps +437 bps
21.4% 17.0% 14.9% EPS (₹)
+65.9% +24.3%
11.68 9.40 7.04
Quality of profit
Pre-tax profit ₹67.2 Cr: core business ₹47.8 Cr, other income ₹19.4 Cr.
Core profit YoY: +19.5%
· reported profit +63.7%
Cash & debt
FY25 cash from operations ₹157 Cr:
105% of FY25 net profit of ₹150 Cr.
Borrowings ₹9.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹238 ₹237
-0.3% in line Net profit ₹34.5 ₹50.7
+47.1% above
M Cap ₹3,442 Cr
P/E 11.7
PEG 5.86
Profit -41% below its own trend Operating margin contracted 1384 bps YoY 69% of pre-tax profit came from other income and one-off items Exceptional items of ₹-11.1 Cr in the quarter Profit grew faster than the core business (core profit -79%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.3% +1.6%
618 609 581 Operating profit
-47.3% -38.9%
84.0 137 159 OPM %
-1384 bps -899 bps
13.6% 22.6% 27.4% Other income
-26.3% -20.9%
8.6 10.9 11.7 Net profit?
-38.4% -21.7%
57.4 73.4 93.2 PAT margin %
-674 bps -277 bps
9.3% 12.1% 16.0% EPS (₹)
-38.6% -21.7%
3.49 4.46 5.68
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹23.5 Cr, other income ₹8.6 Cr, exceptional & other items ₹44.9 Cr.
Core profit YoY: -79.3%
· reported profit -38.4%
Cash & debt
FY25 cash from operations ₹483 Cr:
130% of FY25 net profit of ₹372 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹577 ₹618
+7.1% above Net profit ₹97.8 ₹57.4
-41.3% below
M Cap ₹3,437 Cr
P/E 3062.9
PEG —
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+73.4% -0.7%
1.8 1.8 1.0 Operating profit
loss widened loss narrowed -0.1 -0.3 -0.0 OPM %
+19 bps +1365 bps
-3.4% -17.1% -3.6% Other income
— —
1.2 0.1 0.0 Net profit?
from loss from loss 0.9 -0.2 -0.2 PAT margin %
+6812 bps +6287 bps
52.3% -10.6% -15.9% EPS (₹)
from loss from loss 0.05 -0.01 -0.01
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹0.2 Cr, other income ₹1.2 Cr.
Core profit YoY: loss narrowed
M Cap ₹3,149 Cr
P/E 11.6
PEG —
Profit -86% below its own trend 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% -6.2%
1,682 1,794 1,721 Operating profit
-13.3% +2.5%
105 103 121 OPM %
-80 bps +53 bps
6.2% 5.7% 7.0% Other income
-74.6% +19.7%
27.3 22.8 107 Net profit?
-71.8% -11.6%
29.6 33.5 105 PAT margin %
-435 bps -11 bps
1.8% 1.9% 6.1% EPS (₹)
-74.5% -40.3%
4.70 7.87 18.40
Quality of profit
Pre-tax profit ₹25.0 Cr: core business −₹2.3 Cr, other income ₹27.3 Cr.
Core profit YoY: to loss
· reported profit -71.8%
Cash & debt
FY25 cash from operations ₹438 Cr:
122% of FY25 net profit of ₹358 Cr.
Borrowings ₹882 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,780 ₹1,682
-5.5% below Net profit ₹210 ₹29.6
-85.9% below
M Cap ₹3,140 Cr
P/E 54.9
PEG —
Profit +311% above its own trend All of pre-tax profit came from other income or one-off items Exceptional items of ₹-5.9 Cr in the quarter Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— -1.2%
151 153 1.4 Operating profit
from loss +183.1%
4.2 1.5 -8.8 OPM %
— +180 bps
2.8% 1.0% — Other income
+99.7% +54.4%
27.6 17.9 13.8 Net profit?
+105.7% +19.4%
9.5 8.0 4.6 PAT margin %
— +109 bps
6.3% 5.2% — EPS (₹)
+50.0% +17.0%
1.17 1.00 0.78
Quality of profit
Pre-tax profit ₹16.4 Cr: core business −₹5.3 Cr, other income ₹27.6 Cr, exceptional & other items −₹5.9 Cr.
Core profit YoY: loss narrowed
· reported profit +105.7%
Cash & debt
FY25 cash from operations −₹25.0 Cr:
-11% of FY25 net profit of ₹228 Cr.
Borrowings ₹41.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.8 ₹151
+999.0% above Net profit ₹2.3 ₹9.5
+311.4% above
M Cap ₹3,092 Cr
P/E 48.9
PEG —
Profit +149% above its own trend Operating margin expanded 280 bps YoY 38% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +233%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+71.7% +9.6%
91.0 83.0 53.0 Operating profit
+100.0% +5.9%
18.0 17.0 9.0 OPM %
+280 bps -70 bps
19.8% 20.5% 17.0% Other income
+20.0% +20.0%
6.0 5.0 5.0 Net profit
+140.0% +9.1%
12.0 11.0 5.0 PAT margin %
+375 bps -7 bps
13.2% 13.3% 9.4% EPS (₹)
+125.1% +9.4%
3.85 3.52 1.71
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹10.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +233.3%
· reported profit +140.0%
Cash & debt
FY25 cash from operations ₹35.0 Cr:
146% of FY25 net profit of ₹24.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹59.0 ₹91.0
+54.3% above Net profit ₹4.8 ₹12.0
+148.6% above
M Cap ₹3,056 Cr
P/E 79.9
PEG —
Profit +146% above its own trend Operating margin expanded 875 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+45.0% +23.3%
104 84.7 72.0 Operating profit
+541.6% +15.0%
11.8 10.3 1.8 OPM %
+875 bps -82 bps
11.3% 12.1% 2.6% Other income
-11.7% -7.6%
3.6 3.9 4.1 Net profit?
+206.0% -1.5%
11.2 11.4 3.7 PAT margin %
+564 bps -270 bps
10.7% 13.4% 5.1% EPS (₹)
+200.0% +0.0%
0.24 0.24 0.08
Quality of profit
Pre-tax profit ₹11.2 Cr: core business ₹7.6 Cr, other income ₹3.6 Cr.
Core profit YoY: from loss
· reported profit +206.0%
Against its own trend ?
Trend Actual Gap
Sales ₹96.2 ₹104
+8.6% above Net profit ₹4.6 ₹11.2
+146.1% above
M Cap ₹3,055 Cr
P/E 8.4
PEG —
Profit +490% above its own trend Operating margin expanded 154 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
+17.0% +1.6%
6,887 6,778 5,884 Operating profit
+203.5% +67.5%
172 103 56.8 OPM %
+154 bps +99 bps
2.5% 1.5% 1.0% Other income
+25.5% +293.3%
59.0 15.0 47.0 Net profit?
+195.1% from loss 135 -35.8 45.8 PAT margin %
+118 bps +249 bps
2.0% -0.5% 0.8% EPS (₹)
+196.8% from loss 2.76 -0.73 0.93
Quality of profit
Pre-tax profit ₹172 Cr: core business −₹9.5 Cr, other income ₹59.0 Cr, exceptional & other items ₹123 Cr.
Core profit YoY: loss narrowed
· reported profit +195.1%
Cash & debt
FY25 cash from operations ₹2,590 Cr:
1408% of FY25 net profit of ₹184 Cr.
Borrowings ₹2,001 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4,766 ₹6,887
+44.5% above Net profit ₹22.9 ₹135
+490.3% above
M Cap ₹2,990 Cr
P/E 1.2
PEG 0.03
Profit +99% above its own trend Operating margin contracted 293 bps YoY 93% of pre-tax profit came from other income and one-off items Exceptional items of ₹2,376 Cr in the quarter Profit grew faster than the core business (core profit -28%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-23.5% -1.3%
1,827 1,851 2,388 Operating profit
-31.9% -25.6%
435 585 639 OPM %
-293 bps -778 bps
23.8% 31.6% 26.8% Other income
+2.0% -30.8%
39.2 56.7 38.5 Net profit?
+219.2% —
2,111 90.7 661 EPS (₹)
+222.5% —
75.21 2.78 23.32
Quality of profit
Pre-tax profit ₹2,609 Cr: core business ₹193 Cr, other income ₹39.2 Cr, exceptional & other items ₹2,376 Cr.
Core profit YoY: -27.8%
· reported profit +219.2%
Cash & debt
FY25 cash from operations ₹1,673 Cr:
97% of FY25 net profit of ₹1,734 Cr.
Borrowings ₹1,988 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,968 ₹1,827
-7.1% below Net profit ₹1,063 ₹2,111
+98.7% above
M Cap ₹2,955 Cr
P/E 17.2
PEG 1.23
Operating margin contracted 397 bps YoY 34% of pre-tax profit came from other income and one-off items Exceptional items of ₹-11.2 Cr in the quarter Profit grew faster than the core business (core profit -15%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.7% -6.8%
172 185 169 Operating profit
-10.7% -17.8%
49.4 60.1 55.3 OPM %
-397 bps -384 bps
28.7% 32.5% 32.7% Other income
+10.2% -17.6%
8.5 10.3 7.7 Net profit?
+11.1% -3.5%
43.2 44.7 38.9 PAT margin %
+213 bps +87 bps
25.1% 24.2% 23.0% EPS (₹)
+13.1% -1.8%
3.80 3.87 3.36
Quality of profit
Pre-tax profit ₹58.3 Cr: core business ₹38.6 Cr, other income ₹8.5 Cr, exceptional & other items ₹11.2 Cr.
Core profit YoY: -14.9%
· reported profit +11.1%
Cash & debt
FY25 cash from operations ₹142 Cr:
106% of FY25 net profit of ₹134 Cr.
Borrowings ₹39.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹191 ₹172
-10.1% below Net profit ₹40.3 ₹43.2
+7.3% in line
M Cap ₹2,797 Cr
P/E 20.2
PEG 4.05
Profit -29% below its own trend Operating margin contracted 542 bps YoY 33% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +22%) FY25 operating cash flow was only 11% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+99.9% +41.8%
1,394 983 697 Operating profit
+6.5% +4.4%
86.1 82.5 80.8 OPM %
-542 bps -221 bps
6.2% 8.4% 11.6% Other income
-59.7% -13.6%
8.8 10.2 21.8 Net profit?
-19.2% +4.3%
21.3 20.4 26.3 PAT margin %
-225 bps -55 bps
1.5% 2.1% 3.8% EPS (₹)
-31.5% +1.6%
0.63 0.62 0.92
Quality of profit
Pre-tax profit ₹27.4 Cr: core business ₹18.3 Cr, other income ₹8.8 Cr.
Core profit YoY: +22.4%
· reported profit -19.2%
Cash & debt
FY25 cash from operations ₹10.0 Cr:
11% of FY25 net profit of ₹91.1 Cr.
Borrowings ₹765 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹958 ₹1,394
+45.5% above Net profit ₹30.1 ₹21.3
-29.3% below
M Cap ₹2,744 Cr
P/E 33.6
PEG 0.46
Profit +236% above its own trend Operating margin expanded 1195 bps YoY 26% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +633%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+139.3% +6.0%
127 120 53.1 Operating profit
+352.0% -12.7%
32.3 37.0 7.1 OPM %
+1195 bps -544 bps
25.4% 30.8% 13.4% Other income
+79.8% +133.2%
4.7 2.0 2.6 Net profit?
+572.7% -52.8%
14.6 31.0 2.2 PAT margin %
+742 bps -1432 bps
11.5% 25.8% 4.1% EPS (₹)
+471.4% -48.4%
0.80 1.55 0.14
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹13.4 Cr, other income ₹4.7 Cr.
Core profit YoY: +632.9%
· reported profit +572.7%
Cash & debt
FY25 cash from operations ₹71.0 Cr:
318% of FY25 net profit of ₹22.3 Cr.
Borrowings ₹224 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹106 ₹127
+19.6% above Net profit ₹4.4 ₹14.6
+236.4% above
M Cap ₹2,721 Cr
P/E 23.6
PEG 0.88
Profit +21% above its own trend Operating margin contracted 120 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +29%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.6% -0.3%
272 273 215 Operating profit
+13.9% -0.6%
29.4 29.5 25.8 OPM %
-120 bps -3 bps
10.8% 10.8% 12.0% Other income
+352.7% +23.3%
8.5 6.9 1.9 Net profit
+57.0% +7.5%
24.9 23.2 15.9 PAT margin %
+178 bps +66 bps
9.2% 8.5% 7.4% EPS (₹)
+57.0% +7.4%
11.02 10.26 7.02
Quality of profit
Pre-tax profit ₹33.3 Cr: core business ₹24.8 Cr, other income ₹8.5 Cr.
Core profit YoY: +28.8%
· reported profit +57.0%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
60% of FY25 net profit of ₹82.0 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹258 ₹272
+5.3% above Net profit ₹20.6 ₹24.9
+21.1% above
M Cap ₹2,676 Cr
P/E 23.4
PEG 0.29
38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.9% +6.6%
421 395 438 Operating profit
+4.7% +4.7%
45.0 43.0 43.0 OPM %
+87 bps -20 bps
10.7% 10.9% 9.8% Other income
+20.0% -40.0%
6.0 10.0 5.0 Net profit
+37.5% -45.0%
11.0 20.0 8.0 PAT margin %
+79 bps -245 bps
2.6% 5.1% 1.8% EPS (₹)
+45.4% -43.5%
4.13 7.31 2.84
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹10.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +25.0%
· reported profit +37.5%
Cash & debt
FY25 cash from operations ₹188 Cr:
419% of FY25 net profit of ₹44.9 Cr.
Borrowings ₹627 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹493 ₹421
-14.6% below Net profit ₹11.5 ₹11.0
-4.4% in line
M Cap ₹2,674 Cr
P/E 7.6
PEG —
Profit +999% above its own trend Operating margin contracted 949 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹241 Cr in the quarter FY25 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.5% +1.2%
250 247 282 Operating profit
to loss to loss -8.0 1.0 17.8 OPM %
-949 bps -360 bps
-3.2% 0.4% 6.3% Other income
+194.1% +75.0%
7.0 4.0 2.4 Net profit?
— from loss 188 -15.0 15.8 PAT margin %
+6960 bps +8127 bps
75.2% -6.1% 5.6% EPS (₹)
— from loss 7.76 -0.67 0.65
Quality of profit
Pre-tax profit ₹215 Cr: core business −₹33.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹241 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹274 Cr:
34% of FY25 net profit of ₹804 Cr.
Borrowings ₹200 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹281 ₹250
-11.1% below Net profit ₹9.6 ₹188
+999.0% above
M Cap ₹2,651 Cr
P/E 47.1
PEG —
Profit -85% below its own trend Operating margin contracted 560 bps YoY 52% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-10.2% -1.7%
357 363 398 Operating profit
-45.6% +37.7%
30.7 22.3 56.5 OPM %
-560 bps +246 bps
8.6% 6.1% 14.2% Other income
-19.4% -20.5%
4.2 5.3 5.2 Net profit?
-84.0% from loss 4.7 -0.5 29.7 PAT margin %
-614 bps +147 bps
1.3% -0.1% 7.5% EPS (₹)
-84.9% from loss 1.77 -0.19 11.74
Quality of profit
Pre-tax profit ₹8.2 Cr: core business ₹3.9 Cr, other income ₹4.2 Cr.
Core profit YoY: -87.6%
· reported profit -84.0%
Cash & debt
FY25 cash from operations ₹41.0 Cr:
40% of FY25 net profit of ₹103 Cr.
Borrowings ₹556 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹423 ₹357
-15.6% below Net profit ₹32.7 ₹4.7
-85.5% below
M Cap ₹2,639 Cr
P/E 672.7
PEG 22.42
Profit -92% below its own trend Operating margin contracted 5659 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 31% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-45.6% -8.5%
4.4 4.9 8.2 Operating profit
to loss to loss -0.7 0.5 3.4 OPM %
-5659 bps -2565 bps
-14.9% 10.8% 41.7% Other income
-98.8% -92.0%
0.0 0.6 3.7 Net profit
-96.0% +63.9%
0.2 0.1 3.9 PAT margin %
-4458 bps +156 bps
3.5% 2.0% 48.1% EPS (₹)
— —
0.01 0.01 0.07
No EPS growth against Sep 2025 and Dec 2024: 17:25 bonus in May 2025 and 2:1 bonus in Oct 2025.
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.8 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -96.0%
Cash & debt
FY25 cash from operations ₹2.8 Cr:
31% of FY25 net profit of ₹8.8 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.9 ₹4.4
-49.8% below Net profit ₹2.0 ₹0.2
-92.0% below
M Cap ₹2,637 Cr
P/E 23.6
PEG 1.82
Profit -52% below its own trend Operating margin contracted 433 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
+10.5% +20.1%
568 473 514 Operating profit
-35.8% -2.9%
34.0 35.0 53.0 OPM %
-433 bps -141 bps
6.0% 7.4% 10.3% Other income
+0.0% -25.0%
9.0 12.0 9.0 Net profit
-39.0% -10.7%
25.0 28.0 41.0 PAT margin %
-358 bps -152 bps
4.4% 5.9% 8.0% EPS (₹)
-39.3% -12.6%
21.83 24.98 35.94
Quality of profit
Pre-tax profit ₹33.0 Cr: core business ₹24.0 Cr, other income ₹9.0 Cr.
Core profit YoY: -46.7%
· reported profit -39.0%
Cash & debt
FY25 cash from operations ₹175 Cr:
131% of FY25 net profit of ₹134 Cr.
Borrowings ₹80.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹620 ₹568
-8.4% below Net profit ₹51.9 ₹25.0
-51.9% below
M Cap ₹2,597 Cr
P/E 5.2
PEG 0.18
Into loss: a profit a year ago Profit -109% below its own trend Operating margin expanded 529 bps YoY 59% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.9% +15.1%
370 321 322 Operating profit
+36.8% +13.5%
122 108 89.5 OPM %
+529 bps -46 bps
33.1% 33.5% 27.8% Other income
-14.8% -39.8%
12.6 20.9 14.8 Net profit
to loss to loss -3.2 21.3 39.2 PAT margin %
-1304 bps -749 bps
-0.9% 6.6% 12.2% EPS (₹)
to loss to loss -0.21 1.37 2.59
Quality of profit
Pre-tax profit ₹21.2 Cr: core business ₹8.6 Cr, other income ₹12.6 Cr.
Core profit YoY: -77.7%
Cash & debt
FY25 cash from operations ₹1,127 Cr:
580% of FY25 net profit of ₹194 Cr.
Borrowings ₹2,027 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹334 ₹370
+10.7% above Net profit ₹37.2 −₹3.2
-108.6% below
M Cap ₹2,586 Cr
P/E 5.9
PEG —
Operating margin expanded 569 bps YoY 63% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +170%) FY25 operating cash flow was only 8% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.7% -0.2%
490 491 531 Operating profit
+87.1% +71.2%
55.0 32.1 29.4 OPM %
+569 bps +468 bps
11.2% 6.5% 5.5% Other income
-21.7% from loss 76.0 -153 97.1 Net profit?
+3.0% from loss 93.0 -119 90.3 PAT margin %
+197 bps +4323 bps
19.0% -24.2% 17.0% EPS (₹)
-2.1% from loss 30.54 -41.55 31.20
Quality of profit
Pre-tax profit ₹122 Cr: core business ₹45.0 Cr, other income ₹76.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +169.9%
· reported profit +3.0%
Cash & debt
FY25 cash from operations ₹50.0 Cr:
8% of FY25 net profit of ₹631 Cr.
Borrowings ₹588 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹596 ₹490
-17.7% below Net profit ₹101 ₹93.0
-8.0% in line
M Cap ₹2,568 Cr
P/E 31.5
PEG —
Profit -17% below its own trend Operating margin expanded 605 bps YoY 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +90%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.4% -8.4%
229 250 202 Operating profit
+100.0% +10.3%
32.0 29.0 16.0 OPM %
+605 bps +237 bps
14.0% 11.6% 7.9% Other income
-47.4% -33.3%
10.0 15.0 19.0 Net profit?
-5.8% -9.7%
21.7 24.0 23.0 PAT margin %
-193 bps -14 bps
9.5% 9.6% 11.4% EPS (₹)
-2.1% -5.8%
5.54 5.88 5.66
Quality of profit
Pre-tax profit ₹28.7 Cr: core business ₹19.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +90.0%
· reported profit -5.8%
Cash & debt
FY25 cash from operations ₹193 Cr:
203% of FY25 net profit of ₹95.2 Cr.
Borrowings ₹69.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹209 ₹229
+9.5% above Net profit ₹26.1 ₹21.7
-17.1% below
M Cap ₹2,494 Cr
P/E 22.2
PEG 0.93
Profit +15% above its own trend 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.2% +0.4%
214 213 201 Operating profit
+1.0% +3.7%
33.0 31.8 32.7 OPM %
-79 bps +50 bps
15.4% 14.9% 16.2% Other income
+60.6% +246.4%
13.0 3.8 8.1 Net profit?
+13.3% +16.9%
27.0 23.1 23.8 PAT margin %
+79 bps +178 bps
12.6% 10.8% 11.8% EPS (₹)
+14.2% +17.9%
4.41 3.74 3.86
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹21.0 Cr, other income ₹13.0 Cr.
Core profit YoY: -1.5%
· reported profit +13.3%
Cash & debt
FY25 cash from operations ₹80.0 Cr:
83% of FY25 net profit of ₹95.8 Cr.
Borrowings ₹94.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹204 ₹214
+4.7% in line Net profit ₹23.6 ₹27.0
+14.6% above
M Cap ₹2,457 Cr
P/E 75.4
PEG —
Profit +77% above its own trend 40% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.4% -11.6%
106 120 105 Operating profit
+4.2% +50.1%
11.0 7.3 10.6 OPM %
+28 bps +427 bps
10.4% 6.1% 10.1% Other income
-19.8% -1.8%
4.0 4.1 5.0 Net profit?
-6.3% +40.8%
7.0 5.0 7.5 PAT margin %
-54 bps +246 bps
6.6% 4.1% 7.1% EPS (₹)
-14.2% +35.0%
2.89 2.14 3.37
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹6.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +5.6%
· reported profit -6.3%
Cash & debt
FY25 cash from operations ₹13.0 Cr:
34% of FY25 net profit of ₹38.0 Cr.
Borrowings ₹269 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹112 ₹106
-5.0% in line Net profit ₹3.9 ₹7.0
+77.2% above
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, 17:18 IST
