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, 10:56 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
Page 63 of 144
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₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+8.2%
101 93.8
Operating profit
+9.0%
14.1 13.0
OPM %
+10 bps
13.9% 13.8%
Other income
-35.5%
0.7 1.0
Net profit?
+9.1%
6.5 6.0
PAT margin %
+6 bps
6.4% 6.4%
EPS (₹)
+12.4%
1.09 0.97
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹8.0 Cr: core business ₹7.3 Cr, other income ₹0.7 Cr.
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+0.1%
97.0 96.9
Operating profit
from loss
0.3 -1.5
OPM %
+187 bps
0.3% -1.5%
Other income
+19.1%
0.8 0.7
Net profit?
loss narrowed
-1.5 -2.5
PAT margin %
+107 bps
-1.5% -2.6%
EPS (₹)
loss narrowed
-0.17 -0.25
Quality of profit
Pre-tax profit −₹1.2 Cr: core business −₹2.0 Cr, other income ₹0.8 Cr.
Into loss: a profit a year ago Profit -101% below its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.6% +10.3%
295 267 233
Operating profit
+53.8% -64.5%
12.0 33.8 7.8
OPM %
+72 bps -857 bps
4.1% 12.6% 3.3%
Other income
-100.0% -100.0%
0.0 0.4 26.1
Net profit?
to loss to loss
-2.0 19.6 74.3
PAT margin %
-3259 bps -800 bps
-0.7% 7.3% 31.9%
EPS (₹)
to loss to loss
-0.52 6.78 25.74
Quality of profit
Pre-tax profit −₹2.0 Cr: core business −₹1.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹43.0 Cr:
-34% of FY25 net profit of ₹126 Cr.
Borrowings ₹326 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹269 ₹295
+9.6% above
Net profit ₹149 −₹2.0
-101.3% below
M Cap ₹241 Cr
P/E 85.7
PEG 2.09
Into loss: a profit a year ago Operating margin contracted 1778 bps YoY Exceptional items of ₹-1.2 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+60.6% +81.0%
14.9 8.2 9.3
Operating profit
to loss loss narrowed
-0.4 -1.2 1.4
OPM %
-1778 bps +1209 bps
-2.6% -14.7% 15.1%
Other income
+13.4% -51.5%
2.3 4.7 2.0
Net profit?
to loss loss widened
-2.0 -1.2 1.3
PAT margin %
-2689 bps +183 bps
-13.3% -15.1% 13.6%
EPS (₹)
to loss loss widened
-0.01 -0.01 0.01
Quality of profit
Pre-tax profit −₹1.6 Cr: core business −₹2.7 Cr, other income ₹2.3 Cr, exceptional & other items −₹1.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹10.2 Cr:
274% of FY25 net profit of ₹3.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.4 ₹14.9
+76.2% above
Profit +50% above its own trend Operating margin contracted 732 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
-5.8% -12.0%
91.8 104 97.5
Operating profit
-92.0% -91.3%
0.6 7.1 7.8
OPM %
-732 bps -617 bps
0.7% 6.8% 8.0%
Other income
+162.2% +113.0%
11.8 5.5 4.5
Net profit
+6.6% -36.9%
8.2 13.0 7.7
PAT margin %
+104 bps -352 bps
9.0% 12.5% 7.9%
EPS (₹)
+6.7% -36.8%
5.27 8.34 4.94
Quality of profit
Pre-tax profit ₹10.6 Cr: core business −₹1.2 Cr, other income ₹11.8 Cr.
Core profit YoY: to loss
· reported profit +6.6%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
36% of FY25 net profit of ₹41.1 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹89.2 ₹91.8
+3.0% in line
Net profit ₹5.5 ₹8.2
+50.3% above
Operating margin contracted 142 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.2% +9.8%
197 179 180
Operating profit
-0.4% +20.3%
28.9 24.0 29.0
OPM %
-142 bps +128 bps
14.7% 13.4% 16.1%
Other income
-65.5% -65.5%
0.7 2.0 2.0
Net profit?
loss widened loss widened
-57.2 -41.0 -34.0
PAT margin %
-1020 bps -619 bps
-29.1% -22.9% -18.9%
EPS (₹)
loss widened loss widened
-3.79 -1.99 -2.15
Quality of profit
Pre-tax profit −₹39.0 Cr: core business −₹39.7 Cr, other income ₹0.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹89.0 Cr.
Borrowings ₹1,178 Cr at Sep 2025, against ₹1,116 Cr at Mar 2025 (+6% ).
Against its own trend ?
Trend Actual Gap
Sales ₹199 ₹197
-1.5% in line
Operating margin contracted 453 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-15.0% -15.0%
96.0 113 113
Operating profit
-54.5% -50.0%
5.0 10.0 11.0
OPM %
-453 bps -364 bps
5.2% 8.8% 9.7%
Other income
— —
-1.0 0.0 0.0
Net profit
loss widened loss widened
-25.0 -12.0 -12.0
PAT margin %
-1542 bps -1542 bps
-26.0% -10.6% -10.6%
EPS (₹)
loss widened loss widened
-1.87 -0.94 -0.97
Quality of profit
Pre-tax profit −₹23.0 Cr: core business −₹22.0 Cr, other income −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹77.0 Cr.
Borrowings ₹339 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹96.0
-5.9% below
M Cap ₹238 Cr
P/E 9.7
PEG 0.30
Profit -30% below its own trend Operating margin contracted 203 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-0.8% +7.0%
35.7 33.4 36.0
Operating profit
-10.0% +6.3%
7.1 6.7 7.9
OPM %
-203 bps -15 bps
19.9% 20.1% 22.0%
Other income
-22.0% -55.7%
1.7 3.8 2.1
Net profit?
-14.2% -16.3%
6.2 7.4 7.2
PAT margin %
-269 bps -482 bps
17.3% 22.1% 20.0%
EPS (₹)
-14.3% -16.2%
3.06 3.65 3.57
Quality of profit
Core 80% Other income & one-offs 20%
Pre-tax profit ₹8.4 Cr: core business ₹6.7 Cr, other income ₹1.7 Cr.
Core profit YoY: -12.0%
· reported profit -14.2%
Cash & debt
FY25 cash from operations ₹22.0 Cr:
73% of FY25 net profit of ₹30.2 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹39.2 ₹35.7
-8.9% below
Net profit ₹8.8 ₹6.2
-29.9% below
Into loss: a profit a year ago Profit -173% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+984.6% -18.0%
141 172 13.0
Net profit?
to loss to loss
-11.0 7.0 11.0
EPS (₹)
to loss loss widened
-79.30 -20.10 110.20
Against its own trend ?
Trend Actual Gap
Total income ₹26.0 ₹141
+442.3% above
Net profit ₹15.1 −₹11.0
-172.7% below
₹ Cr
Dec 2025
Sales
141
Operating profit
20.2
OPM %
14.3%
Other income
0.3
Net profit
10.8
PAT margin %
7.6%
EPS (₹)
1.70
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 98% Other income & one-offs 2%
Pre-tax profit ₹15.0 Cr: core business ₹14.7 Cr, other income ₹0.3 Cr.
Cash & debt
FY25 cash from operations −₹19.0 Cr.
Borrowings ₹96.0 Cr at Mar 2025.
M Cap ₹237 Cr
P/E 12.9
PEG —
Profit -40% below its own trend Operating margin contracted 115 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.1% -19.7%
90.5 113 102
Operating profit
-36.1% -29.7%
2.7 3.8 4.2
OPM %
-115 bps -42 bps
2.9% 3.4% 4.1%
Other income
— -100.0%
0.0 0.0 0.0
Net profit
-27.2% -12.0%
2.1 2.4 2.9
PAT margin %
-51 bps +20 bps
2.3% 2.1% 2.8%
EPS (₹)
-26.7% -10.8%
0.33 0.37 0.45
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹2.4 Cr: core business ₹2.4 Cr, other income ₹0.0 Cr.
Core profit YoY: -38.3%
· reported profit -27.2%
Cash & debt
FY25 cash from operations −₹13.0 Cr:
-114% of FY25 net profit of ₹11.4 Cr.
Borrowings ₹18.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹124 ₹90.5
-26.9% below
Net profit ₹3.5 ₹2.1
-39.8% below
M Cap ₹237 Cr
P/E 22.2
PEG —
Profit -64% below its own trend 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
-23.9% +42.9%
363 254 478
Operating profit
loss narrowed loss narrowed
-0.4 -2.5 -0.5
OPM %
-0 bps +87 bps
-0.1% -1.0% -0.1%
Other income
-61.2% -39.8%
2.6 4.3 6.6
Net profit?
-81.9% -16.4%
0.6 0.7 3.4
PAT margin %
-54 bps -12 bps
0.2% 0.3% 0.7%
EPS (₹)
-100.0% —
0.00 0.00 0.02
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹1.3 Cr, other income ₹2.6 Cr.
Core profit YoY: loss narrowed
· reported profit -81.9%
Cash & debt
FY25 cash from operations −₹138 Cr:
-932% of FY25 net profit of ₹14.8 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹326 ₹363
+11.7% above
Net profit ₹1.7 ₹0.6
-63.8% below
Profit -27% below its own trend Operating margin contracted 1571 bps YoY 64% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -71%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.7% -11.0%
19.9 22.3 23.3
Operating profit
-41.8% +32.0%
6.7 5.1 11.5
OPM %
-1571 bps +1096 bps
33.7% 22.7% 49.4%
Other income
-6.9% -14.2%
3.7 4.4 4.0
Net profit?
-49.0% from loss
5.7 -6.8 11.3
PAT margin %
-1947 bps +5934 bps
28.9% -30.5% 48.3%
EPS (₹)
-49.0% from loss
5.22 -6.19 10.24
Quality of profit
Core 36% Other income & one-offs 64%
Pre-tax profit ₹5.7 Cr: core business ₹2.1 Cr, other income ₹3.7 Cr.
Core profit YoY: -71.3%
· reported profit -49.0%
Cash & debt
FY25 cash from operations ₹93.6 Cr:
363% of FY25 net profit of ₹25.8 Cr.
Borrowings ₹554 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹16.3 ₹19.9
+22.2% above
Net profit ₹7.9 ₹5.7
-27.5% below
Into loss: a profit a year ago Profit -764% below its own trend Operating margin expanded 460 bps YoY FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.7% +42.3%
37.0 26.0 32.6
Operating profit
+29.4% +133.3%
14.0 6.0 10.8
OPM %
+460 bps +1476 bps
37.8% 23.1% 33.2%
Other income
to loss —
-62.0 0.0 10.3
Net profit?
to loss loss widened
-52.6 -7.0 4.8
EPS (₹)
to loss loss widened
-30.44 -4.03 2.79
Quality of profit
Pre-tax profit −₹49.0 Cr: core business ₹13.0 Cr, other income −₹62.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹17.5 Cr.
Borrowings ₹353 Cr at Sep 2025, against ₹330 Cr at Mar 2025 (+7% ).
Against its own trend ?
Trend Actual Gap
Sales ₹36.4 ₹37.0
+1.5% in line
Net profit ₹7.9 −₹52.6
-763.8% below
M Cap ₹235 Cr
P/E 11.2
PEG 0.36
Turnaround: profit against a loss a year ago Operating margin expanded 729 bps YoY 67% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.2% -1.2%
247 250 250
Operating profit
— +111.1%
19.0 9.0 1.0
OPM %
+729 bps +409 bps
7.7% 3.6% 0.4%
Other income
-20.0% -20.0%
4.0 5.0 5.0
Net profit
from loss from loss
5.0 -3.0 -11.0
PAT margin %
+642 bps +322 bps
2.0% -1.2% -4.4%
EPS (₹)
from loss from loss
1.28 -0.67 -2.54
Quality of profit
Core 33% Other income & one-offs 67%
Pre-tax profit ₹6.0 Cr: core business ₹2.0 Cr, other income ₹4.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹76.0 Cr.
Borrowings ₹449 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹248 ₹247
-0.2% in line
M Cap ₹235 Cr
P/E 1574.0
PEG —
Operating margin contracted 160 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.6% +3.9%
13.5 13.0 12.2
Operating profit
-16.9% -14.7%
0.7 0.8 0.8
OPM %
-160 bps -106 bps
4.8% 5.9% 6.4%
Other income
+7.0% -12.8%
0.2 0.3 0.2
Net profit
loss widened to loss
-0.3 0.1 -0.2
PAT margin %
+4 bps -284 bps
-1.9% 0.9% -2.0%
EPS (₹)
loss widened to loss
-0.13 0.06 -0.12
Quality of profit
Pre-tax profit −₹0.4 Cr: core business −₹0.6 Cr, other income ₹0.2 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹2.7 Cr:
370% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹3.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹12.7 ₹13.5
+7.0% above
Operating margin contracted 1516 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-27.6% -27.6%
63.0 87.0 87.0
Operating profit
loss widened loss narrowed
-32.0 -54.0 -31.0
OPM %
-1516 bps +1128 bps
-50.8% -62.1% -35.6%
Other income
loss widened loss widened
-2,689 -2,608 -2,309
Net profit?
loss widened loss widened
-2,767 -2,701 -2,068
EPS (₹)
loss widened loss widened
-10.01 -9.77 -8.60
Quality of profit
Pre-tax profit −₹2,761 Cr: core business −₹72.0 Cr, other income −₹2,689 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹26.0 Cr.
Borrowings ₹47,216 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹81.4 ₹63.0
-22.6% below
M Cap ₹235 Cr
P/E 11.8
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+17.2%
11.1 9.5
Other income
—
0.0 0.0
Net profit
+5.9%
5.0 4.8
PAT margin %
-482 bps
45.2% 50.1%
EPS (₹)
+5.8%
1.63 1.54
M Cap ₹233 Cr
P/E 35.3
PEG —
Profit -39% below its own trend Operating margin expanded 1911 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
-61.6% -10.7%
11.4 12.8 29.8
Operating profit
-15.2% +148.1%
4.0 1.6 4.7
OPM %
+1911 bps +2235 bps
34.9% 12.6% 15.8%
Other income
-10.0% +44.1%
1.0 0.7 1.1
Net profit?
-47.6% +438.6%
1.1 0.2 2.0
PAT margin %
+247 bps +772 bps
9.2% 1.5% 6.8%
EPS (₹)
-60.3% +316.7%
0.25 0.06 0.63
Quality of profit
Core 50% Other income & one-offs 50%
Pre-tax profit ₹2.0 Cr: core business ₹1.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -62.0%
· reported profit -47.6%
Cash & debt
FY25 cash from operations ₹23.3 Cr:
213% of FY25 net profit of ₹10.9 Cr.
Borrowings ₹63.9 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.9 ₹11.4
-36.0% below
Net profit ₹1.7 ₹1.1
-39.5% below
M Cap ₹233 Cr
P/E 4.9
PEG 0.05
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— -63.6%
20.0 55.0 0.1
Operating profit
from loss -69.0%
16.2 52.4 -2.3
OPM %
— -1401 bps
81.2% 95.2% —
Other income
+33.3% +50.8%
2.0 1.3 1.5
Net profit?
from loss -68.7%
12.5 39.9 -1.1
PAT margin %
— -1011 bps
62.4% 72.5% —
EPS (₹)
from loss -68.6%
2.04 6.50 -0.19
Quality of profit
Core 89% Other income & one-offs 11%
Pre-tax profit ₹17.6 Cr: core business ₹15.7 Cr, other income ₹2.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹8.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.1 ₹20.0
+999.0% above
Operating margin expanded 257 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.0% -10.3%
109 121 122
Operating profit
loss narrowed to loss
-7.0 4.0 -11.0
OPM %
+257 bps -975 bps
-6.4% 3.3% -9.0%
Other income
+0.0% +0.0%
2.0 2.0 2.0
Net profit?
loss narrowed to loss
-7.9 1.1 -12.0
PAT margin %
+261 bps -813 bps
-7.2% 0.9% -9.8%
EPS (₹)
loss narrowed to loss
-10.46 1.85 -16.09
Quality of profit
Pre-tax profit −₹8.5 Cr: core business −₹11.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹0.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹56.0 Cr:
-46% of FY25 net profit of ₹122 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.3 ₹109
+37.0% above
M Cap ₹225 Cr
P/E 13.3
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+10.4%
202 183
Operating profit
+41.9%
17.2 12.1
OPM %
+188 bps
8.5% 6.6%
Other income
+173.0%
0.4 0.1
Net profit
+277.7%
8.0 2.1
PAT margin %
+281 bps
4.0% 1.2%
EPS (₹)
+174.6%
1.62 0.59
Quality of profit
Core 96% Other income & one-offs 4%
Pre-tax profit ₹9.7 Cr: core business ₹9.3 Cr, other income ₹0.4 Cr.
M Cap ₹225 Cr
P/E 9.4
PEG 0.16
Operating margin contracted 641 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
-5.3% +18.6%
131 111 139
Operating profit
-32.9% -3.9%
20.5 21.3 30.5
OPM %
-641 bps -363 bps
15.6% 19.2% 22.0%
Other income
+17.7% +0.3%
2.9 2.9 2.5
Net profit?
-58.2% -15.0%
6.4 7.5 15.3
PAT margin %
-616 bps -192 bps
4.9% 6.8% 11.0%
EPS (₹)
-58.3% -14.9%
1.65 1.94 3.96
Quality of profit
Core 70% Other income & one-offs 30%
Pre-tax profit ₹9.6 Cr: core business ₹6.7 Cr, other income ₹2.9 Cr.
Core profit YoY: -61.7%
· reported profit -58.2%
Cash & debt
FY25 cash from operations ₹50.0 Cr:
523% of FY25 net profit of ₹9.6 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹131
-16.9% below
M Cap ₹225 Cr
P/E 14.9
PEG —
Into loss: a profit a year ago Profit -999% below its own trend Operating margin contracted 1040 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-23.8% +41.2%
32.2 22.8 42.3
Operating profit
-99.1% from loss
0.0 -0.9 4.5
OPM %
-1040 bps +424 bps
0.1% -4.1% 10.5%
Other income
from loss -26.4%
3.3 4.5 -0.0
Net profit?
to loss to loss
-1.4 0.4 0.2
PAT margin %
-482 bps -618 bps
-4.3% 1.8% 0.5%
EPS (₹)
to loss to loss
-4.56 1.36 0.66
Quality of profit
Pre-tax profit −₹0.5 Cr: core business −₹3.8 Cr, other income ₹3.3 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹28.0 Cr:
136% of FY25 net profit of ₹20.5 Cr.
Borrowings ₹37.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹28.6 ₹32.2
+12.7% above
Net profit ₹0.1 −₹1.4
-999.0% below
M Cap ₹224 Cr
P/E 8.3
PEG 0.27
Operating margin expanded 537 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-9.6% -24.9%
126 168 140
Operating profit
loss narrowed loss widened
-10.7 -0.3 -19.3
OPM %
+537 bps -825 bps
-8.4% -0.2% -13.8%
Other income
+26.8% -16.0%
1.2 1.4 0.9
Net profit
loss widened loss widened
-34.2 -23.1 -23.0
PAT margin %
-1058 bps -1337 bps
-27.1% -13.7% -16.5%
EPS (₹)
loss widened loss widened
-2.88 -1.94 -1.94
Quality of profit
Pre-tax profit −₹45.2 Cr: core business −₹46.4 Cr, other income ₹1.2 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹41.0 Cr:
51% of FY25 net profit of ₹80.1 Cr.
Borrowings ₹784 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹126
-9.7% below
M Cap ₹223 Cr
P/E 39.2
PEG —
Operating margin expanded 354 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.7% -5.2%
11.0 11.6 10.2
Operating profit
+37.8% -10.6%
1.8 2.1 1.3
OPM %
+354 bps -100 bps
16.7% 17.7% 13.2%
Other income
— -100.0%
0.0 0.0 0.0
Net profit?
+25.5% -10.2%
1.3 1.4 1.0
PAT margin %
+153 bps -64 bps
11.5% 12.1% 10.0%
EPS (₹)
+42.9% +0.0%
0.60 0.60 0.42
Quality of profit
Pre-tax profit ₹1.7 Cr: core business ₹1.7 Cr, other income ₹0.0 Cr.
Core profit YoY: +29.6%
· reported profit +25.5%
Cash & debt
FY25 cash from operations −₹0.6 Cr.
Borrowings nil at Mar 2025.
M Cap ₹223 Cr
P/E 204.9
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-0.7%
1.4 1.4
Other income
—
0.0 0.0
Net profit
-74.6%
0.2 0.7
PAT margin %
-3641 bps
12.5% 48.9%
EPS (₹)
-74.7%
0.19 0.75
Operating margin contracted 2839 bps YoY Borrowings up 26% since Mar 2025
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-17.8% -31.2%
97.0 141 118
Operating profit
loss widened loss narrowed
-30.0 -118 -3.0
OPM %
-2839 bps +5276 bps
-30.9% -83.7% -2.5%
Other income
from loss +0.0%
1.0 1.0 -1.0
Net profit?
loss widened loss narrowed
-29.0 -119 -7.0
PAT margin %
-2396 bps +5450 bps
-29.9% -84.4% -5.9%
EPS (₹)
loss widened loss narrowed
-0.16 -0.64 -0.04
Quality of profit
Pre-tax profit −₹33.0 Cr: core business −₹34.0 Cr, other income ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹222 Cr.
Borrowings ₹97.0 Cr at Sep 2025, against ₹77.0 Cr at Mar 2025 (+26% ).
Against its own trend ?
Trend Actual Gap
Sales ₹122 ₹97.0
-20.6% below
M Cap ₹219 Cr
P/E 22.8
PEG 0.43
Profit -49% below its own trend Operating margin expanded 242 bps YoY Core business grew faster than reported profit (core profit +106%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.5% -27.3%
76.4 105 75.3
Operating profit
+26.9% -30.8%
9.2 13.3 7.3
OPM %
+242 bps -63 bps
12.1% 12.7% 9.7%
Other income
+45.9% -67.3%
0.3 0.8 0.2
Net profit?
-7.8% -72.0%
1.6 5.8 1.8
PAT margin %
-22 bps -341 bps
2.1% 5.5% 2.3%
EPS (₹)
-7.4% -71.9%
1.26 4.49 1.36
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹2.6 Cr: core business ₹2.4 Cr, other income ₹0.3 Cr.
Core profit YoY: +106.0%
· reported profit -7.8%
Cash & debt
FY25 cash from operations ₹13.0 Cr:
108% of FY25 net profit of ₹12.1 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹88.8 ₹76.4
-13.9% below
Net profit ₹3.2 ₹1.6
-49.1% below
M Cap ₹218 Cr
P/E 33.1
PEG —
Operating margin contracted 1271 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
-15.3% +3.0%
70.1 68.0 82.8
Operating profit
to loss loss widened
-6.0 -5.3 3.4
OPM %
-1271 bps -85 bps
-8.6% -7.8% 4.1%
Other income
+144.5% +243.9%
22.4 6.5 9.2
Net profit
+121.5% from loss
12.0 -7.2 5.4
PAT margin %
+1054 bps +2769 bps
17.1% -10.6% 6.5%
EPS (₹)
+121.5% from loss
1.44 -0.87 0.65
Quality of profit
Pre-tax profit ₹12.1 Cr: core business −₹10.2 Cr, other income ₹22.4 Cr.
Core profit YoY: loss widened
· reported profit +121.5%
Cash & debt
FY25 cash from operations ₹52.0 Cr:
499% of FY25 net profit of ₹10.4 Cr.
Borrowings ₹50.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹53.6 ₹70.1
+30.8% 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 14 Oct 2026, 10:56 IST