Home › Quarterly results › Q3 FY26
Q3 FY26 quarterly results (October-December 2025)
4,316 companies have declared Q3 FY26 results so far, the latest on 15 Sep 2026.
Across the 3,727 non-financial companies with a year-ago quarter to compare, sales grew +15.1% and net profit +14.8% year on year, and the combined operating margin narrowed 25 bps to 14.1%.
For the 146 banks and lenders, net interest income grew +8.0% and net profit +10.5%.
56% of companies grew net profit; 416 turned a loss into a profit; 37% beat their own profit trend and 48% fell short of it.
4316 declared
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Sales growth
+15.1%
YoY, 3727 companies combined; median +8.3%
Net profit growth
+14.8%
YoY combined; median +8.9%
Operating margin
14.1%
-25 bps YoY
Grew profit
56%
416 turnarounds, 346 into loss
Vs own profit trend
37% / 48%
above / below, 15% in line
Banks: NII growth
+8.0%
146 lenders; profit +10.5%
Price since results
-9.5%
median; 0% of 1 stocks up
Other-income heavy
1051
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q3 FY26 results 4316
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M Cap ₹73.0 Cr
P/E 12.8
PEG 1.59
Profit +138% above its own trend Operating margin contracted 1413 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-18.5% -22.6%
11.7 15.2 14.4 Operating profit
to loss to loss -0.7 1.1 1.1 OPM %
-1413 bps -1307 bps
-6.1% 6.9% 8.0% Other income
— —
9.4 0.3 0.2 Net profit?
+376.7% +226.9%
5.7 1.8 1.2 PAT margin %
+4042 bps +3721 bps
48.8% 11.6% 8.3% EPS (₹)
+377.4% +228.9%
1.48 0.45 0.31
Quality of profit
Pre-tax profit ₹8.5 Cr: core business −₹0.9 Cr, other income ₹9.4 Cr.
Core profit YoY: to loss
· reported profit +376.7%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-102% of FY25 net profit of ₹7.9 Cr.
Borrowings ₹0.8 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹14.9 ₹11.7
-21.3% below Net profit ₹2.4 ₹5.7
+138.3% above
M Cap ₹73.0 Cr
P/E 38.7
PEG —
Profit +18% above its own trend 55% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +169%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+34.5% +52.9%
7.7 5.0 5.7 Operating profit
+31.7% +248.4%
1.1 0.3 0.8 OPM %
-30 bps +785 bps
14.0% 6.1% 14.3% Other income
-8.5% +26.5%
0.4 0.3 0.5 Net profit
+16.0% —
0.6 0.0 0.5 PAT margin %
-120 bps +672 bps
7.5% 0.8% 8.7% EPS (₹)
+16.0% —
0.87 0.06 0.75
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.4 Cr, other income ₹0.4 Cr.
Core profit YoY: +169.2%
· reported profit +16.0%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
161% of FY25 net profit of ₹3.1 Cr.
Borrowings ₹8.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.9 ₹7.7
+57.7% above Net profit ₹0.5 ₹0.6
+17.9% above
M Cap ₹73.0 Cr
P/E 65.9
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 3866 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-13.5% -10.2%
15.7 17.4 18.1 Operating profit
from loss -22.0%
2.5 3.2 -4.1 OPM %
+3866 bps -241 bps
15.8% 18.3% -22.8% Other income
+66.7% +400.0%
0.1 0.0 0.0 Net profit
from loss +112.5%
0.8 0.4 -5.7 PAT margin %
+3698 bps +314 bps
5.4% 2.3% -31.5% EPS (₹)
from loss +109.5%
0.44 0.21 -2.97
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.8 Cr, other income ₹0.1 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹11.0 Cr.
Borrowings ₹43.0 Cr at Sep 2025, against ₹40.0 Cr at Mar 2025 (+7% ).
Against its own trend ?
Trend Actual Gap
Sales ₹9.1 ₹15.7
+72.9% above
M Cap ₹73.0 Cr
P/E 16.0
PEG 0.53
Turnaround: profit against a loss a year ago Operating margin contracted 3854 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
-73.7% -33.0%
9.4 14.0 35.7 Operating profit
to loss loss narrowed -3.6 -5.4 0.0 OPM %
-3854 bps +16 bps
-38.5% -38.7% 0.0% Other income
+583.5% -14.2%
6.2 7.2 0.9 Net profit?
from loss +104.2%
1.5 0.7 -0.2 PAT margin %
+1620 bps +1051 bps
15.6% 5.1% -0.6% EPS (₹)
from loss +100.0%
0.10 0.05 -0.01
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹4.8 Cr, other income ₹6.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹6.2 Cr:
2841% of FY25 net profit of ₹0.2 Cr.
Borrowings ₹215 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.1 ₹9.4
-57.5% below
M Cap ₹73.0 Cr
P/E 5.9
PEG 0.17
Into loss: a profit a year ago Profit -146% below its own trend Operating margin contracted 1864 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-86.0% -28.7%
2.1 3.0 15.3 Operating profit
to loss to loss -0.2 1.9 1.4 OPM %
-1864 bps -7348 bps
-9.8% 63.7% 8.8% Other income
-87.2% -72.2%
0.1 0.2 0.4 Net profit
to loss to loss -0.5 1.9 1.5 PAT margin %
-3371 bps -8617 bps
-23.8% 62.3% 9.9% EPS (₹)
to loss to loss -0.15 0.54 0.44
Quality of profit
Pre-tax profit −₹0.5 Cr: core business −₹0.6 Cr, other income ₹0.1 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹0.6 Cr:
-9% of FY25 net profit of ₹6.3 Cr.
Borrowings ₹0.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.6 ₹2.1
-72.0% below Net profit ₹1.1 −₹0.5
-146.2% below
M Cap ₹72.0 Cr
P/E 10.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1269 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-9.3% +6.0%
46.8 44.1 51.6 Operating profit
+706.0% from loss 6.7 -0.0 0.8 OPM %
+1269 bps +1439 bps
14.3% -0.1% 1.6% Other income
to loss to loss -0.3 1.1 1.8 Net profit?
from loss from loss 1.2 -5.2 -4.4 PAT margin %
+1126 bps +1448 bps
2.7% -11.8% -8.6% EPS (₹)
from loss from loss 0.64 -2.65 -2.26
Quality of profit
Pre-tax profit ₹1.6 Cr: core business ₹1.9 Cr, other income −₹0.3 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹52.0 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹49.3 ₹46.8
-5.1% below
M Cap ₹71.0 Cr
P/E 2.5
PEG 0.06
Turnaround: profit against a loss a year ago Operating margin contracted 529 bps YoY 82% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.9% +0.7%
10.6 10.5 9.9 Operating profit
-9.8% +11.4%
3.0 2.7 3.4 OPM %
-529 bps +276 bps
28.6% 25.9% 33.9% Other income
from loss +931.7%
12.7 1.2 -232 Net profit?
from loss +310.6%
15.5 3.8 -237 EPS (₹)
from loss +310.0%
0.82 0.20 -12.74
Quality of profit
Pre-tax profit ₹15.5 Cr: core business ₹2.8 Cr, other income ₹12.7 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹15.0 Cr.
Borrowings ₹43.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.5 ₹10.6
+1.0% in line
M Cap ₹71.0 Cr
P/E 10.7
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 510 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
+28.0% +2.9%
59.0 57.3 46.0 Operating profit
from loss +33.3%
1.5 1.1 -1.2 OPM %
+510 bps +59 bps
2.6% 2.0% -2.5% Other income
+133.8% +78.2%
1.8 1.0 0.8 Net profit?
from loss —
1.6 0.1 -1.2 PAT margin %
+536 bps +251 bps
2.7% 0.2% -2.7% EPS (₹)
from loss from loss 4.49 -0.03 -4.30
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹0.3 Cr, other income ₹1.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹3.0 Cr.
Borrowings ₹41.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹92.1 ₹59.0
-36.0% below
M Cap ₹69.0 Cr
P/E 789.9
PEG —
Profit -29% below its own trend 82% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -86%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.3% +38.3%
560 405 495 Operating profit
+13.5% +153.1%
5.3 2.1 4.7 OPM %
+0 bps +43 bps
0.9% 0.5% 0.9% Other income
+21.5% -41.5%
1.1 1.9 0.9 Net profit?
-41.5% from loss 1.3 -1.2 2.2 PAT margin %
-21 bps +53 bps
0.2% -0.3% 0.4% EPS (₹)
-40.6% from loss 0.38 -0.36 0.64
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹0.2 Cr, other income ₹1.1 Cr.
Core profit YoY: -86.2%
· reported profit -41.5%
Cash & debt
FY25 cash from operations −₹38.0 Cr:
-1086% of FY25 net profit of ₹3.5 Cr.
Borrowings ₹212 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹498 ₹560
+12.6% above Net profit ₹1.8 ₹1.3
-29.1% below
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+6.5%
45.2 42.4 Operating profit
loss narrowed -0.9 -9.1 OPM %
+1948 bps
-2.0% -21.4% Other income
to loss -0.4 4.8 Net profit
loss narrowed -3.8 -9.2 PAT margin %
+1309 bps
-8.5% -21.6% EPS (₹)
loss narrowed -2.08 -4.98
Quality of profit
Pre-tax profit −₹4.2 Cr: core business −₹3.8 Cr, other income −₹0.4 Cr.
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-0.1%
0.1 0.1 Operating profit
from loss 0.0 -0.0 OPM %
+2551 bps
15.0% -10.5% Net profit
from loss 0.0 -0.0 PAT margin %
+2576 bps
14.3% -11.5% EPS (₹)
from loss 0.02 -0.01
Quality of profit
Pre-tax profit ₹0.0 Cr: core business ₹0.0 Cr.
M Cap ₹68.0 Cr
P/E 5.9
PEG —
Profit +999% above its own trend 58% 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
+19.7% +32.8%
303 228 253 Operating profit
+131.5% +429.9%
5.1 1.0 2.2 OPM %
+82 bps +127 bps
1.7% 0.4% 0.9% Other income
-12.1% -12.1%
2.3 2.6 2.6 Net profit
+673.7% —
2.9 0.1 0.4 PAT margin %
+82 bps +94 bps
1.0% 0.0% 0.2% EPS (₹)
+642.9% —
0.52 0.01 0.07
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹1.7 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
· reported profit +673.7%
Cash & debt
FY25 cash from operations −₹140 Cr:
-2003% of FY25 net profit of ₹7.0 Cr.
Borrowings ₹220 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹239 ₹303
+26.8% above Net profit ₹0.2 ₹2.9
+999.0% above
Profit +45% above 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
— —
0.0 0.0 0.0 Operating profit
— —
-0.0 -0.0 -0.0 Other income
+30.6% +67.9%
0.5 0.3 0.4 Net profit
+31.4% +70.4%
0.5 0.3 0.3 EPS (₹)
+0.0% +0.0%
0.01 0.01 0.01
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.0 Cr, other income ₹0.5 Cr.
Core profit YoY: —
· reported profit +31.4%
Cash & debt
FY25 cash from operations ₹0.4 Cr:
600% of FY25 net profit of ₹0.1 Cr.
Borrowings ₹3.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Net profit ₹0.3 ₹0.5
+44.6% above
M Cap ₹67.0 Cr
P/E 54.5
PEG —
60% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-47.0%
128 242 Operating profit
from loss 1.3 -2.2 OPM %
+192 bps
1.0% -0.9% Other income
+44.1%
0.5 0.3 Net profit
from loss 0.6 -2.1 PAT margin %
+135 bps
0.5% -0.9% EPS (₹)
from loss 0.43 -1.49
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.3 Cr, other income ₹0.5 Cr.
M Cap ₹67.0 Cr
P/E 21.1
PEG —
Profit -26% below its own trend Operating margin contracted 182 bps YoY 48% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.8% +3.9%
128 123 105 Operating profit
-14.3% -4.5%
5.5 5.8 6.4 OPM %
-182 bps -38 bps
4.3% 4.7% 6.1% Other income
+940.0% -8.8%
0.5 0.6 0.1 Net profit
-28.7% -43.1%
0.6 1.1 0.9 PAT margin %
-34 bps -40 bps
0.5% 0.9% 0.8% EPS (₹)
-28.6% -42.9%
0.20 0.35 0.28
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹0.6 Cr, other income ₹0.5 Cr.
Core profit YoY: -41.2%
· reported profit -28.7%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
505% of FY25 net profit of ₹3.2 Cr.
Borrowings ₹165 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.7 ₹128
+60.3% above Net profit ₹0.8 ₹0.6
-26.1% below
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+31.4% +6.7%
3.6 3.4 2.8 Net interest income
— —
2.5 — — Other income
— —
0.5 — — Net profit?
loss narrowed loss narrowed -0.9 -1.3 -2.3 EPS (₹)
loss narrowed loss narrowed -0.17 -0.23 -0.44
M Cap ₹66.0 Cr
P/E 104.4
PEG —
Into loss: a profit a year ago Profit -425% below its own trend Operating margin expanded 253 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-10.0% -18.7%
17.1 21.1 19.1 Operating profit
+25.2% -29.0%
1.5 2.2 1.2 OPM %
+253 bps -130 bps
9.0% 10.3% 6.5% Other income
— -100.0%
0.0 0.0 0.0 Net profit?
to loss to loss -0.1 0.6 0.1 PAT margin %
-118 bps -379 bps
-0.8% 3.0% 0.4% EPS (₹)
to loss to loss -0.14 0.67 0.08
Quality of profit
Pre-tax profit −₹0.0 Cr: core business −₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹5.3 Cr:
402% of FY25 net profit of ₹1.3 Cr.
Borrowings ₹26.9 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹20.6 ₹17.1
-16.9% below Net profit ₹0.0 −₹0.1
-425.0% below
Operating margin contracted 3756 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-23.5% +23.8%
26.0 21.0 34.0 Operating profit
to loss loss widened -9.0 -6.0 1.0 OPM %
-3756 bps -604 bps
-34.6% -28.6% 2.9% Other income
— -95.9%
4.0 97.0 0.0 Net profit
loss widened to loss -16.0 81.0 -8.0 PAT margin %
-3801 bps —
-61.5% — -23.5% EPS (₹)
loss widened to loss -0.86 4.38 -0.45
Quality of profit
Pre-tax profit −₹16.0 Cr: core business −₹21.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations −₹27.0 Cr.
Borrowings ₹254 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.9 ₹26.0
+13.3% above
M Cap ₹65.0 Cr
P/E 20.5
PEG 0.85
Profit -73% below its own trend Operating margin contracted 209 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-33.3% +328.1%
24.1 5.6 36.1 Operating profit
-44.2% +226.6%
2.6 0.8 4.6 OPM %
-209 bps -333 bps
10.7% 14.0% 12.8% Other income
— +6.7%
0.2 0.1 0.0 Net profit?
-45.2% +368.4%
1.8 0.4 3.2 PAT margin %
-161 bps +64 bps
7.4% 6.7% 9.0% EPS (₹)
-45.1% +373.5%
1.61 0.34 2.93
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹2.1 Cr, other income ₹0.2 Cr.
Core profit YoY: -50.9%
· reported profit -45.2%
Cash & debt
FY25 cash from operations −₹0.1 Cr:
-2% of FY25 net profit of ₹5.2 Cr.
Borrowings ₹1.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹72.2 ₹24.1
-66.6% below Net profit ₹6.5 ₹1.8
-72.6% below
M Cap ₹65.0 Cr
P/E 18.0
PEG —
Profit +65% above its own trend Operating margin expanded 208 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +404%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+86.6% +25.3%
14.3 11.4 7.7 Operating profit
+117.9% +64.3%
2.1 1.3 0.9 OPM %
+208 bps +343 bps
14.4% 11.0% 12.4% Other income
+53.1% +11.9%
0.8 0.7 0.5 Net profit?
+181.5% +97.4%
1.5 0.8 0.5 PAT margin %
+358 bps +388 bps
10.6% 6.7% 7.0% EPS (₹)
+27.3% +100.0%
0.28 0.14 0.22
Quality of profit
Pre-tax profit ₹1.9 Cr: core business ₹1.2 Cr, other income ₹0.8 Cr.
Core profit YoY: +404.3%
· reported profit +181.5%
Cash & debt
FY25 cash from operations −₹1.1 Cr:
-165% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹16.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.9 ₹14.3
+31.1% above Net profit ₹0.9 ₹1.5
+64.5% above
Into loss: a profit a year ago Profit -942% below its own trend Operating margin contracted 2781 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.0% -23.9%
9.6 12.6 10.2 Operating profit
to loss loss widened -2.0 -0.1 0.7 OPM %
-2781 bps -2055 bps
-21.0% -0.5% 6.8% Other income
+866.7% -14.7%
0.3 0.3 0.0 Net profit
to loss to loss -1.4 0.1 0.1 PAT margin %
-1644 bps -1602 bps
-15.1% 1.0% 1.4% EPS (₹)
to loss to loss -0.46 0.04 0.04
Quality of profit
Pre-tax profit −₹1.9 Cr: core business −₹2.2 Cr, other income ₹0.3 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹15.1 Cr:
3879% of FY25 net profit of ₹0.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.4 ₹9.6
+1.4% in line Net profit ₹0.2 −₹1.4
-941.6% below
M Cap ₹64.0 Cr
P/E 39.4
PEG 2.19
Operating margin expanded 499 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-25.2% -28.0%
10.7 14.8 14.2 Operating profit
+48.6% +2.9%
1.1 1.0 0.7 OPM %
+499 bps +302 bps
10.0% 7.0% 5.1% Other income
— —
0.0 0.0 0.0 Net profit
— +40.0%
0.3 0.2 0.0 PAT margin %
+329 bps +160 bps
3.3% 1.7% 0.0% EPS (₹)
— +42.9%
0.20 0.14 0.00
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.5 Cr, other income ₹0.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹1.4 Cr.
Borrowings ₹12.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹16.3 ₹10.7
-34.8% below
Turnaround: profit against a loss a year ago Operating margin expanded 455 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
+37.5% -47.6%
11.0 21.0 8.0 Operating profit
+50.0% -60.0%
6.0 15.0 4.0 OPM %
+455 bps -1688 bps
54.5% 71.4% 50.0% Other income
loss narrowed —
0.0 0.0 -76.0 Net profit?
from loss -90.9%
1.0 11.0 -76.0 PAT margin %
— -4329 bps
9.1% 52.4% — EPS (₹)
from loss -87.9%
0.27 2.23 -16.08
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: from loss
Cash & debt
FY25 cash from operations ₹22.0 Cr.
Borrowings ₹147 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.2 ₹11.0
+20.1% above
M Cap ₹64.0 Cr
P/E 11.8
PEG 0.08
Profit -60% below its own trend Operating margin expanded 239 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
-22.4% -23.5%
93.3 122 120 Operating profit
+0.6% +20.4%
9.7 8.1 9.7 OPM %
+239 bps +380 bps
10.4% 6.6% 8.0% Other income
-68.1% -60.6%
1.0 2.5 3.1 Net profit
-38.5% -13.9%
1.0 1.1 1.6 PAT margin %
-28 bps +12 bps
1.1% 0.9% 1.3% EPS (₹)
-39.1% -14.3%
0.42 0.49 0.69
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.5 Cr, other income ₹1.0 Cr.
Core profit YoY: from loss
· reported profit -38.5%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
914% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹188 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹93.3
-9.1% below Net profit ₹2.5 ₹1.0
-60.4% below
M Cap ₹63.0 Cr
P/E 48.5
PEG 6.93
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-100.0% —
0.0 0.0 0.0 Operating profit
loss narrowed loss narrowed 0.0 -0.1 -0.5 Other income
-100.0% —
0.0 0.0 0.0 Net profit
loss narrowed loss narrowed 0.0 -0.1 -0.4 EPS (₹)
loss narrowed —
0.00 0.00 -0.03
Quality of profit
Pre-tax profit ₹0.0 Cr: core business ₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹0.6 Cr.
Borrowings ₹2.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.0 ₹0.0
-100.0% below
Into loss: a profit a year ago Profit -119% below its own trend Operating margin contracted 277 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-15.5% -1.8%
81.2 82.7 96.1 Operating profit
-45.0% +445.5%
4.2 0.8 7.6 OPM %
-277 bps +424 bps
5.2% 0.9% 7.9% Other income
-10.9% +83.9%
0.6 0.3 0.6 Net profit?
to loss loss narrowed -0.8 -3.8 2.2 PAT margin %
-330 bps +357 bps
-1.0% -4.6% 2.3% EPS (₹)
to loss loss narrowed -0.27 -1.23 0.71
Quality of profit
Pre-tax profit −₹1.1 Cr: core business −₹1.7 Cr, other income ₹0.6 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹33.0 Cr:
740% of FY25 net profit of ₹4.5 Cr.
Borrowings ₹96.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹88.0 ₹81.2
-7.7% below Net profit ₹4.4 −₹0.8
-118.9% below
M Cap ₹62.0 Cr
P/E 16.6
PEG —
Profit +42% above its own trend Operating margin expanded 124 bps YoY FY25 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-38.0% -17.3%
158 190 254 Operating profit
-11.4% -4.0%
6.5 6.8 7.4 OPM %
+124 bps +57 bps
4.1% 3.6% 2.9% Other income
+10.5% -36.4%
0.2 0.3 0.2 Net profit?
-28.9% +15.0%
0.7 0.6 1.0 PAT margin %
+6 bps +12 bps
0.4% 0.3% 0.4% EPS (₹)
-16.7% +25.0%
0.05 0.04 0.06
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.8 Cr, other income ₹0.2 Cr.
Core profit YoY: -33.9%
· reported profit -28.9%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
21% of FY25 net profit of ₹4.7 Cr.
Borrowings ₹130 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹274 ₹158
-42.5% below Net profit ₹0.5 ₹0.7
+42.3% above
M Cap ₹61.0 Cr
P/E 14.1
PEG 0.78
Profit -23% below its own trend Operating margin contracted 143 bps YoY FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.5% -10.8%
35.9 40.2 30.6 Operating profit
-10.3% -21.7%
1.7 2.1 1.9 OPM %
-143 bps -64 bps
4.6% 5.3% 6.1% Other income
+0.0% +0.0%
0.0 0.0 0.0 Net profit
+8.9% -20.3%
1.2 1.5 1.1 PAT margin %
-27 bps -40 bps
3.4% 3.8% 3.7% EPS (₹)
+10.8% -19.6%
0.41 0.51 0.37
Quality of profit
Pre-tax profit ₹1.3 Cr: core business ₹1.3 Cr, other income ₹0.0 Cr.
Core profit YoY: +15.0%
· reported profit +8.9%
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹2.7 Cr.
Borrowings ₹32.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹36.4 ₹35.9
-1.5% in line Net profit ₹1.6 ₹1.2
-23.1% below
M Cap ₹61.0 Cr
P/E 20.6
PEG 1.14
Profit +39% above its own trend Operating margin contracted 900 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.0% -7.1%
25.6 27.5 22.6 Operating profit
to loss to loss -1.7 0.5 0.5 OPM %
-900 bps -828 bps
-6.6% 1.7% 2.4% Other income
+174.8% +180.7%
3.9 1.4 1.4 Net profit?
+51.4% +75.8%
1.1 0.6 0.7 PAT margin %
+108 bps +201 bps
4.3% 2.3% 3.2% EPS (₹)
+37.5% +83.3%
0.11 0.06 0.08
Quality of profit
Pre-tax profit ₹1.2 Cr: core business −₹2.7 Cr, other income ₹3.9 Cr.
Core profit YoY: loss widened
· reported profit +51.4%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-180% of FY25 net profit of ₹1.7 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.8 ₹25.6
-4.5% in line Net profit ₹0.8 ₹1.1
+39.5% above
Operating margin contracted 1193 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.5% +12.5%
15.5 13.8 15.0 Operating profit
to loss to loss -0.0 0.2 1.8 OPM %
-1193 bps -136 bps
-0.1% 1.2% 11.8% Other income
loss narrowed loss widened -3.8 -1.8 -6.6 Net profit?
loss narrowed loss widened -5.2 -2.4 -5.8 PAT margin %
+552 bps -1602 bps
-33.5% -17.5% -39.0% EPS (₹)
loss narrowed loss widened -4.79 -2.22 -5.39
Quality of profit
Pre-tax profit −₹4.7 Cr: core business −₹0.9 Cr, other income −₹3.8 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹1.0 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.4 ₹15.5
+15.8% 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, 15:11 IST
