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 13 Oct 2026, 17:43 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
1051 matching results 1051
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M Cap ₹1,393 Cr
P/E 171.6
PEG —
67% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-20.9%
20.3 25.6
Operating profit
-80.3%
0.9 4.4
OPM %
-1280 bps
4.2% 17.0%
Other income
-36.4%
0.4 0.7
Net profit
-86.0%
0.4 3.1
PAT margin %
-1011 bps
2.2% 12.3%
EPS (₹)
-85.0%
0.06 0.40
Quality of profit
Core 33% Other income & one-offs 67%
Pre-tax profit ₹0.6 Cr: core business ₹0.2 Cr, other income ₹0.4 Cr.
M Cap ₹1,347 Cr
P/E 33.0
PEG 0.36
Profit -27% below its own trend Operating margin expanded 123 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +69%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.9% -15.2%
187 220 205
Operating profit
+7.1% -40.6%
15.5 26.1 14.5
OPM %
+123 bps -356 bps
8.3% 11.8% 7.1%
Other income
+8.3% -10.3%
3.0 3.4 2.8
Net profit?
+46.7% -47.4%
7.3 14.0 5.0
PAT margin %
+149 bps -241 bps
3.9% 6.3% 2.4%
EPS (₹)
+10.4% -49.0%
0.74 1.45 0.67
Quality of profit
Core 69% Other income & one-offs 31%
Pre-tax profit ₹9.6 Cr: core business ₹6.6 Cr, other income ₹3.0 Cr.
Core profit YoY: +68.7%
· reported profit +46.7%
Cash & debt
FY25 cash from operations ₹30.0 Cr:
195% of FY25 net profit of ₹15.4 Cr.
Borrowings ₹145 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹246 ₹187
-24.0% below
Net profit ₹10.0 ₹7.3
-26.7% below
M Cap ₹1,345 Cr
P/E 1.2
PEG 0.08
Turnaround: profit against a loss a year ago 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.6% -1.7%
351 356 338
Operating profit
+4.3% -16.6%
94.5 113 90.7
OPM %
+18 bps -484 bps
27.0% 31.8% 26.8%
Other income
+152.9% -56.4%
8.2 18.8 3.2
Net profit
from loss from loss
19.6 -193 -210
PAT margin %
+6767 bps +5986 bps
5.6% -54.3% -62.1%
EPS (₹)
from loss from loss
0.01 -0.15 -0.16
Quality of profit
Core 58% Other income & one-offs 42%
Pre-tax profit ₹19.6 Cr: core business ₹11.4 Cr, other income ₹8.2 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹635 Cr.
Borrowings ₹3,715 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹343 ₹351
+2.3% in line
M Cap ₹1,340 Cr
P/E 7.5
PEG 0.62
Profit -36% below its own trend Operating margin contracted 311 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.7% +2.0%
477 467 516
Operating profit
-23.6% +7.3%
71.4 66.6 93.5
OPM %
-311 bps +74 bps
15.0% 14.2% 18.1%
Other income
+31.5% -7.7%
27.9 30.3 21.2
Net profit?
-12.0% -3.1%
55.2 56.9 62.7
PAT margin %
-57 bps -61 bps
11.6% 12.2% 12.1%
EPS (₹)
-13.5% -7.4%
2.49 2.69 2.88
Quality of profit
Core 62% Other income & one-offs 38%
Pre-tax profit ₹73.3 Cr: core business ₹45.4 Cr, other income ₹27.9 Cr.
Core profit YoY: -25.5%
· reported profit -12.0%
Cash & debt
FY25 cash from operations ₹224 Cr:
238% of FY25 net profit of ₹93.9 Cr.
Borrowings ₹186 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹529 ₹477
-9.8% below
Net profit ₹85.8 ₹55.2
-35.7% below
M Cap ₹1,328 Cr
P/E 104.6
PEG —
Profit +241% above its own trend Operating margin expanded 391 bps YoY 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +22%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.6% +29.2%
6.2 4.8 6.4
Operating profit
+7.2% +117.3%
2.4 1.1 2.2
OPM %
+391 bps +1575 bps
38.9% 23.1% 35.0%
Other income
— +29.4%
3.2 2.5 0.0
Net profit
+220.1% +55.1%
4.5 2.9 1.4
PAT margin %
+5057 bps +1206 bps
72.4% 60.3% 21.8%
EPS (₹)
+200.0% +50.0%
0.06 0.04 0.02
Quality of profit
Core 38% Other income & one-offs 62%
Pre-tax profit ₹5.1 Cr: core business ₹1.9 Cr, other income ₹3.2 Cr.
Core profit YoY: +21.7%
· reported profit +220.1%
Against its own trend ?
Trend Actual Gap
Sales ₹3.2 ₹6.2
+92.8% above
Net profit ₹1.3 ₹4.5
+240.7% above
M Cap ₹1,326 Cr
P/E 18.4
PEG —
Profit -67% below its own trend Operating margin contracted 337 bps YoY 62% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.7% -3.5%
520 539 474
Operating profit
-21.1% -22.4%
45.0 58.0 57.0
OPM %
-337 bps -211 bps
8.7% 10.8% 12.0%
Other income
+0.0% +0.0%
5.0 5.0 5.0
Net profit
-61.5% -64.3%
5.0 14.0 13.0
PAT margin %
-178 bps -164 bps
1.0% 2.6% 2.7%
EPS (₹)
-62.2% -63.8%
0.17 0.47 0.45
Quality of profit
Core 38% Other income & one-offs 62%
Pre-tax profit ₹8.0 Cr: core business ₹3.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -81.2%
· reported profit -61.5%
Cash & debt
FY25 cash from operations ₹191 Cr:
637% of FY25 net profit of ₹30.0 Cr.
Borrowings ₹427 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹487 ₹520
+6.8% above
Net profit ₹15.0 ₹5.0
-66.6% below
M Cap ₹1,323 Cr
P/E 24.2
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.9% +1.1%
159 157 187
Operating profit
-15.2% -38.6%
13.0 21.2 15.3
OPM %
-2 bps -528 bps
8.2% 13.5% 8.2%
Other income
+19.6% —
7.0 0.2 5.9
Net profit?
-26.8% -28.5%
4.0 5.6 5.5
PAT margin %
-41 bps -104 bps
2.5% 3.6% 2.9%
EPS (₹)
+20.4% -35.0%
1.30 2.00 1.08
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹2.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -26.8%
Cash & debt
FY25 cash from operations ₹56.0 Cr.
Borrowings ₹249 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹221 ₹159
-28.2% below
M Cap ₹1,323 Cr
P/E 19.1
PEG 0.47
Profit -34% below its own trend Operating margin contracted 643 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+119.9% +4.0%
281 270 128
Operating profit
+5.6% -16.6%
16.7 20.0 15.8
OPM %
-643 bps -147 bps
5.9% 7.4% 12.4%
Other income
+11.2% -4.3%
6.0 6.3 5.4
Net profit?
+8.7% -16.7%
15.2 18.3 14.0
PAT margin %
-555 bps -135 bps
5.4% 6.8% 11.0%
EPS (₹)
— -18.2%
1.39 1.70 1.44
No EPS growth against Dec 2024: ₹10 to ₹5 split in Oct 2026.
Quality of profit
Core 71% Other income & one-offs 29%
Pre-tax profit ₹21.0 Cr: core business ₹14.9 Cr, other income ₹6.0 Cr.
Core profit YoY: +9.2%
· reported profit +8.7%
Cash & debt
FY25 cash from operations ₹67.0 Cr:
127% of FY25 net profit of ₹52.6 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹255 ₹281
+10.0% above
Net profit ₹23.2 ₹15.2
-34.3% below
M Cap ₹1,316 Cr
P/E 33.2
PEG 1.75
Profit +125% above its own trend Operating margin expanded 271 bps YoY 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+37.6% +89.7%
63.1 33.2 45.8
Operating profit
+59.4% +139.7%
12.5 5.2 7.8
OPM %
+271 bps +413 bps
19.8% 15.7% 17.1%
Other income
+114.0% +39.3%
6.0 4.3 2.8
Net profit
+102.3% +134.0%
12.5 5.3 6.2
PAT margin %
+635 bps +376 bps
19.9% 16.1% 13.5%
EPS (₹)
+102.2% +134.1%
21.70 9.27 10.73
Quality of profit
Core 63% Other income & one-offs 37%
Pre-tax profit ₹16.1 Cr: core business ₹10.2 Cr, other income ₹6.0 Cr.
Core profit YoY: +82.4%
· reported profit +102.3%
Cash & debt
FY25 cash from operations ₹33.0 Cr:
67% of FY25 net profit of ₹48.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹39.2 ₹63.1
+60.7% above
Net profit ₹5.6 ₹12.5
+124.8% above
All of pre-tax profit came from other income or one-off items
₹ Cr
Dec 2025
Sales
83.4
Operating profit
-17.6
OPM %
-21.1%
Other income
28.2
Net profit?
5.9
PAT margin %
7.1%
EPS (₹)
0.77
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹8.5 Cr: core business −₹19.8 Cr, other income ₹28.2 Cr.
M Cap ₹1,278 Cr
P/E 23.6
PEG 0.71
Profit +143% above its own trend Operating margin expanded 962 bps YoY 25% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 8% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.6% -1.7%
59.0 60.0 58.7
Operating profit
+69.1% -50.5%
14.0 28.3 8.3
OPM %
+962 bps -2338 bps
23.7% 47.1% 14.1%
Other income
+35.4% +808.5%
3.0 0.3 2.2
Net profit?
+98.1% -7.7%
12.0 13.0 6.1
PAT margin %
+1001 bps -133 bps
20.3% 21.7% 10.3%
EPS (₹)
+92.1% -7.2%
7.82 8.43 4.07
Quality of profit
Core 75% Other income & one-offs 25%
Pre-tax profit ₹12.0 Cr: core business ₹9.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +112.6%
· reported profit +98.1%
Cash & debt
FY25 cash from operations ₹4.0 Cr:
8% of FY25 net profit of ₹48.9 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.3 ₹59.0
-14.8% below
Net profit ₹4.9 ₹12.0
+143.3% above
M Cap ₹1,254 Cr
P/E 12.9
PEG 0.86
26% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.1% +16.2%
231 199 212
Operating profit
+8.2% +21.9%
17.8 14.6 16.4
OPM %
-7 bps +36 bps
7.7% 7.3% 7.8%
Other income
+10.7% -64.0%
6.0 16.7 5.4
Net profit
+5.4% -32.6%
17.2 25.5 16.3
PAT margin %
-26 bps -540 bps
7.4% 12.8% 7.7%
EPS (₹)
+5.4% -32.6%
13.77 20.44 13.06
Quality of profit
Core 74% Other income & one-offs 26%
Pre-tax profit ₹23.4 Cr: core business ₹17.4 Cr, other income ₹6.0 Cr.
Core profit YoY: +7.8%
· reported profit +5.4%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
21% of FY25 net profit of ₹83.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹222 ₹231
+3.9% in line
Net profit ₹18.0 ₹17.2
-4.3% in line
M Cap ₹1,252 Cr
P/E 100.7
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 760 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
-98.9% -96.7%
2.2 65.7 194
Operating profit
to loss to loss
-0.0 13.0 12.1
OPM %
-760 bps -2110 bps
-1.4% 19.7% 6.2%
Other income
from loss —
16.1 0.0 -4.2
Net profit
from loss +77.7%
6.6 3.7 -0.7
EPS (₹)
from loss +38.6%
0.61 0.44 -0.08
Quality of profit
Pre-tax profit ₹7.7 Cr: core business −₹8.4 Cr, other income ₹16.1 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations −₹21.0 Cr.
Borrowings ₹178 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹193 ₹2.2
-98.9% below
M Cap ₹1,217 Cr
P/E 27.5
PEG 0.21
Operating margin contracted 952 bps YoY 32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +180%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+314.7% +466.6%
112 19.8 27.0
Operating profit
+137.0% +171.7%
14.2 5.2 6.0
OPM %
-952 bps -1378 bps
12.7% 26.5% 22.2%
Other income
+302.2% —
4.0 0.3 1.0
Net profit?
+239.8% +931.1%
10.2 1.0 3.0
PAT margin %
-201 bps +410 bps
9.1% 5.0% 11.1%
EPS (₹)
+42.6% +405.1%
2.98 0.59 2.09
Quality of profit
Core 68% Other income & one-offs 32%
Pre-tax profit ₹12.4 Cr: core business ₹8.4 Cr, other income ₹4.0 Cr.
Core profit YoY: +180.2%
· reported profit +239.8%
Cash & debt
FY25 cash from operations ₹51.0 Cr.
Borrowings ₹106 Cr at Mar 2025.
M Cap ₹1,208 Cr
P/E 8.3
PEG —
Profit +17% above its own trend Operating margin contracted 539 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 9% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.7% +4.2%
251 241 261
Operating profit
-52.6% -27.1%
13.1 18.0 27.7
OPM %
-539 bps -224 bps
5.2% 7.5% 10.6%
Other income
+6.0% +12.2%
58.4 52.0 55.1
Net profit?
-3.7% +15.4%
40.4 35.0 41.9
PAT margin %
+1 bps +157 bps
16.1% 14.5% 16.1%
EPS (₹)
-5.9% +8.1%
0.80 0.74 0.85
Quality of profit
Pre-tax profit ₹47.9 Cr: core business −₹10.4 Cr, other income ₹58.4 Cr.
Core profit YoY: to loss
· reported profit -3.7%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
9% of FY25 net profit of ₹197 Cr.
Borrowings ₹23.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹251 ₹251
-0.2% in line
Net profit ₹34.7 ₹40.4
+16.5% above
M Cap ₹1,201 Cr
P/E 5.6
PEG 0.51
Profit +151% above its own trend 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+41.5% -4.4%
2,059 2,155 1,455
Operating profit
+103.5% -32.5%
64.5 95.5 31.7
OPM %
+95 bps -130 bps
3.1% 4.4% 2.2%
Other income
+54.6% +12.7%
40.7 36.1 26.3
Net profit?
+214.3% -25.8%
66.6 89.8 21.2
PAT margin %
+178 bps -93 bps
3.2% 4.2% 1.5%
EPS (₹)
+222.0% -26.3%
1.32 1.79 0.41
Quality of profit
Core 54% Other income & one-offs 46%
Pre-tax profit ₹87.8 Cr: core business ₹47.2 Cr, other income ₹40.7 Cr.
Core profit YoY: +215.3%
· reported profit +214.3%
Cash & debt
FY25 cash from operations ₹124 Cr:
141% of FY25 net profit of ₹87.7 Cr.
Borrowings ₹535 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,915 ₹2,059
+7.5% above
Net profit ₹26.5 ₹66.6
+151.4% above
M Cap ₹1,158 Cr
P/E 4.6
PEG —
Profit -24% below its own trend Operating margin expanded 1190 bps YoY 91% 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
-14.3% +100.0%
6.0 3.0 7.0
Operating profit
+0.0% +150.0%
5.0 2.0 5.0
OPM %
+1190 bps +1667 bps
83.3% 66.7% 71.4%
Other income
-18.0% -9.1%
50.0 55.0 61.0
Net profit?
-18.2% +17.4%
54.0 46.0 66.0
EPS (₹)
-18.3% +16.5%
168.29 144.51 206.05
Quality of profit
Core 9% Other income & one-offs 91%
Pre-tax profit ₹55.0 Cr: core business ₹5.0 Cr, other income ₹50.0 Cr.
Core profit YoY: +0.0%
· reported profit -18.2%
Cash & debt
FY25 cash from operations −₹6.0 Cr:
-2% of FY25 net profit of ₹258 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.5 ₹6.0
+71.4% above
Net profit ₹71.3 ₹54.0
-24.3% below
M Cap ₹1,151 Cr
P/E 16.2
PEG —
43% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +77%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.9% -13.6%
233 270 196
Operating profit
+29.2% -47.1%
15.9 30.1 12.3
OPM %
+54 bps -432 bps
6.8% 11.1% 6.3%
Other income
-4.0% +15.2%
4.9 4.2 5.1
Net profit
+31.3% -55.2%
8.4 18.7 6.4
PAT margin %
+34 bps -333 bps
3.6% 6.9% 3.3%
EPS (₹)
+31.2% -55.2%
6.68 14.90 5.09
Quality of profit
Core 57% Other income & one-offs 43%
Pre-tax profit ₹11.2 Cr: core business ₹6.4 Cr, other income ₹4.9 Cr.
Core profit YoY: +77.5%
· reported profit +31.3%
Cash & debt
FY25 cash from operations ₹63.0 Cr:
75% of FY25 net profit of ₹83.5 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹211 ₹233
+10.6% above
Net profit ₹8.6 ₹8.4
-2.4% in line
M Cap ₹1,128 Cr
P/E 121.8
PEG 2.83
Profit -55% below its own trend Operating margin contracted 790 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-5.4 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.3% -3.4%
101 105 98.1
Operating profit
to loss loss narrowed
-0.9 -1.2 6.9
OPM %
-790 bps +23 bps
-0.9% -1.1% 7.0%
Other income
+22.4% +53.0%
20.7 13.6 16.9
Net profit?
-67.3% +598.2%
4.6 0.7 14.0
PAT margin %
-975 bps +388 bps
4.5% 0.6% 14.3%
EPS (₹)
-70.7% +190.0%
0.29 0.10 0.99
Quality of profit
Pre-tax profit ₹6.6 Cr: core business −₹8.8 Cr, other income ₹20.7 Cr, exceptional & other items −₹5.4 Cr.
Core profit YoY: to loss
· reported profit -67.3%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
60% of FY25 net profit of ₹48.0 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹113 ₹101
-10.5% below
Net profit ₹10.1 ₹4.6
-54.6% below
M Cap ₹1,100 Cr
P/E 24.5
PEG —
Profit +28% above its own trend Operating margin expanded 755 bps YoY 57% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.7% +0.7%
113 112 109
Operating profit
+233.0% +387.1%
12.4 2.5 3.7
OPM %
+755 bps +870 bps
11.0% 2.3% 3.4%
Other income
-25.5% -14.0%
6.1 7.1 8.2
Net profit?
-16.8% +7.0%
8.3 7.8 10.0
PAT margin %
-180 bps +43 bps
7.3% 6.9% 9.1%
EPS (₹)
-16.7% +6.9%
3.85 3.60 4.62
Quality of profit
Core 43% Other income & one-offs 57%
Pre-tax profit ₹10.7 Cr: core business ₹4.6 Cr, other income ₹6.1 Cr.
Core profit YoY: from loss
· reported profit -16.8%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
126% of FY25 net profit of ₹45.3 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹113
+9.9% above
Net profit ₹6.5 ₹8.3
+28.2% above
M Cap ₹1,089 Cr
P/E 11.2
PEG 1.61
Profit +84% above its own trend Operating margin contracted 196 bps YoY 44% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -1%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.5% +1.8%
166 163 147
Operating profit
-0.3% -7.2%
23.6 25.4 23.7
OPM %
-196 bps -138 bps
14.2% 15.6% 16.1%
Other income
+68.8% +109.4%
15.1 7.2 9.0
Net profit
+37.7% +43.1%
28.6 20.0 20.8
PAT margin %
+302 bps +496 bps
17.2% 12.2% 14.2%
EPS (₹)
+37.7% +43.1%
14.28 9.98 10.37
Quality of profit
Core 56% Other income & one-offs 44%
Pre-tax profit ₹34.7 Cr: core business ₹19.6 Cr, other income ₹15.1 Cr.
Core profit YoY: -0.7%
· reported profit +37.7%
Cash & debt
FY25 cash from operations ₹93.0 Cr:
113% of FY25 net profit of ₹82.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹151 ₹166
+10.2% above
Net profit ₹15.6 ₹28.6
+83.6% above
M Cap ₹1,084 Cr
P/E 26.7
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 363 bps YoY 73% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.0% -9.7%
179 198 195
Operating profit
+71.5% +6.6%
14.0 13.1 8.2
OPM %
+363 bps +119 bps
7.8% 6.6% 4.2%
Other income
+738.3% -18.3%
8.0 9.8 1.0
Net profit?
from loss -31.6%
9.0 13.2 -6.4
PAT margin %
+830 bps -161 bps
5.0% 6.6% -3.3%
EPS (₹)
from loss -30.2%
0.97 1.39 -0.67
Quality of profit
Core 27% Other income & one-offs 73%
Pre-tax profit ₹11.0 Cr: core business ₹3.0 Cr, other income ₹8.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹143 Cr:
217% of FY25 net profit of ₹65.8 Cr.
Borrowings ₹120 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹150 ₹179
+19.4% above
M Cap ₹1,082 Cr
P/E 68.7
PEG 1.76
Profit +258% above its own trend 91% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.5% -33.9%
159 240 165
Operating profit
+11.9% -45.5%
5.1 9.4 4.6
OPM %
+44 bps -69 bps
3.2% 3.9% 2.8%
Other income
+18.6% -21.5%
2.8 3.6 2.4
Net profit?
+186.9% -32.7%
2.7 4.0 0.9
PAT margin %
+114 bps +3 bps
1.7% 1.7% 0.6%
EPS (₹)
+180.0% -35.4%
adj. 0.170.26 0.06
EPS restated for the ₹10 to ₹1 split of Apr 2026: Dec 2025 ₹1.68 to ₹0.17.
Quality of profit
Core 9% Other income & one-offs 91%
Pre-tax profit ₹3.1 Cr: core business ₹0.3 Cr, other income ₹2.8 Cr.
Core profit YoY: from loss
· reported profit +186.9%
Cash & debt
FY25 cash from operations ₹14.0 Cr:
89% of FY25 net profit of ₹15.8 Cr.
Borrowings ₹114 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹120 ₹159
+32.4% above
Net profit ₹0.8 ₹2.7
+257.9% above
M Cap ₹1,077 Cr
P/E 54.4
PEG 10.87
Profit +29% above its own trend Operating margin expanded 160 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +116%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+71.6% +20.8%
58.9 48.8 34.3
Operating profit
+103.9% +74.9%
6.0 3.4 2.9
OPM %
+160 bps +314 bps
10.1% 7.0% 8.5%
Other income
-8.4% -12.6%
2.6 2.9 2.8
Net profit?
+37.3% +9.8%
4.8 4.3 3.5
PAT margin %
-202 bps -80 bps
8.1% 8.9% 10.1%
EPS (₹)
+26.1% +3.6%
0.58 0.56 0.46
Quality of profit
Core 61% Other income & one-offs 39%
Pre-tax profit ₹6.6 Cr: core business ₹4.0 Cr, other income ₹2.6 Cr.
Core profit YoY: +115.9%
· reported profit +37.3%
Cash & debt
FY25 cash from operations −₹19.0 Cr:
-117% of FY25 net profit of ₹16.3 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹30.9 ₹58.9
+90.3% above
Net profit ₹3.7 ₹4.8
+28.8% above
M Cap ₹1,075 Cr
P/E 16.8
PEG 0.11
Profit -17% below its own trend Operating margin contracted 177 bps YoY 27% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +8%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+52.2% +38.4%
209 151 137
Operating profit
+22.1% from loss
15.0 -0.6 12.3
OPM %
-177 bps +757 bps
7.2% -0.4% 8.9%
Other income
+287.6% -49.0%
5.0 9.8 1.3
Net profit
+45.2% +84.6%
17.0 9.2 11.7
PAT margin %
-39 bps +203 bps
8.1% 6.1% 8.5%
EPS (₹)
+2.9% +75.0%
0.14 0.08 0.14
Quality of profit
Core 73% Other income & one-offs 27%
Pre-tax profit ₹15.0 Cr: core business ₹11.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +8.1%
· reported profit +45.2%
Cash & debt
FY25 cash from operations −₹177 Cr:
-494% of FY25 net profit of ₹35.8 Cr.
Borrowings ₹1,996 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹218 ₹209
-4.1% in line
Net profit ₹20.5 ₹17.0
-16.9% below
M Cap ₹1,075 Cr
P/E 47.2
PEG 0.08
Profit -25% below its own trend Operating margin expanded 137 bps YoY 30% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +14%) FY25 operating cash flow was only 41% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.4% +25.5%
38.7 30.8 37.8
Operating profit
+7.1% +56.7%
12.2 7.8 11.4
OPM %
+137 bps +625 bps
31.4% 25.2% 30.1%
Other income
+697.9% +203.3%
3.2 1.1 0.4
Net profit?
+50.4% +150.2%
11.0 4.4 7.3
PAT margin %
+904 bps +1412 bps
28.3% 14.2% 19.3%
EPS (₹)
+41.7% +150.8%
1.63 0.65 1.15
Quality of profit
Core 70% Other income & one-offs 30%
Pre-tax profit ₹10.7 Cr: core business ₹7.5 Cr, other income ₹3.2 Cr.
Core profit YoY: +14.3%
· reported profit +50.4%
Cash & debt
FY25 cash from operations ₹32.0 Cr:
41% of FY25 net profit of ₹78.0 Cr.
Borrowings ₹52.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹35.5 ₹38.7
+9.0% above
Net profit ₹14.6 ₹11.0
-24.8% below
M Cap ₹1,069 Cr
P/E 54.2
PEG —
Profit -75% below its own trend Operating margin contracted 314 bps YoY 98% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.0% -7.2%
224 241 205
Operating profit
-17.4% -21.1%
21.9 27.8 26.5
OPM %
-314 bps -174 bps
9.8% 11.5% 12.9%
Other income
-1.0% +29.2%
3.1 2.4 3.1
Net profit?
-87.6% -85.8%
0.9 6.0 6.9
PAT margin %
-297 bps -212 bps
0.4% 2.5% 3.3%
EPS (₹)
-87.4% -85.6%
0.46 3.20 3.66
Quality of profit
Core 2% Other income & one-offs 98%
Pre-tax profit ₹3.1 Cr: core business ₹0.1 Cr, other income ₹3.1 Cr.
Core profit YoY: -98.8%
· reported profit -87.6%
Cash & debt
FY25 cash from operations ₹149 Cr:
369% of FY25 net profit of ₹40.4 Cr.
Borrowings ₹202 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹162 ₹224
+38.1% above
Net profit ₹3.5 ₹0.9
-75.2% below
M Cap ₹1,056 Cr
P/E 6.4
PEG —
Profit +127% above its own trend Operating margin expanded 214 bps YoY 29% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +75%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.6% -89.8%
289 2,818 273
Operating profit
+33.5% -88.9%
29.6 267 22.2
OPM %
+214 bps +79 bps
10.3% 9.5% 8.1%
Other income
-8.3% -88.6%
6.3 55.3 6.9
Net profit?
+38.4% -88.9%
14.0 126 10.1
PAT margin %
+115 bps +39 bps
4.8% 4.5% 3.7%
EPS (₹)
+38.2% +11.1%
3.40 3.06 2.46
Quality of profit
Core 71% Other income & one-offs 29%
Pre-tax profit ₹22.1 Cr: core business ₹15.8 Cr, other income ₹6.3 Cr.
Core profit YoY: +74.8%
· reported profit +38.4%
Cash & debt
FY25 cash from operations ₹94.0 Cr:
207% of FY25 net profit of ₹45.5 Cr.
Borrowings ₹152 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹358 ₹289
-19.3% below
Net profit ₹6.2 ₹14.0
+126.8% above
M Cap ₹1,053 Cr
P/E 12.2
PEG 0.51
Profit +54% above its own trend Operating margin expanded 102 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.4% -11.5%
169 191 175
Operating profit
+4.8% -8.3%
22.0 24.0 21.0
OPM %
+102 bps +45 bps
13.0% 12.6% 12.0%
Other income
from loss +75.0%
7.0 4.0 -2.0
Net profit
+75.0% +10.5%
21.0 19.0 12.0
PAT margin %
+557 bps +248 bps
12.4% 9.9% 6.9%
EPS (₹)
+64.4% +12.1%
0.74 0.66 0.45
Quality of profit
Core 74% Other income & one-offs 26%
Pre-tax profit ₹27.0 Cr: core business ₹20.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +0.0%
· reported profit +75.0%
Cash & debt
FY25 cash from operations ₹69.0 Cr:
115% of FY25 net profit of ₹60.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹191 ₹169
-11.6% below
Net profit ₹13.7 ₹21.0
+53.6% above
M Cap ₹1,051 Cr
P/E 20.3
PEG 6.77
Turnaround: profit against a loss a year ago Operating margin expanded 337 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+14.5% +10.9%
264 238 231
Operating profit
+239.1% +17.8%
13.4 11.4 4.0
OPM %
+337 bps +30 bps
5.1% 4.8% 1.7%
Other income
+66.1% -56.1%
3.9 8.8 2.3
Net profit
from loss -15.0%
10.1 11.9 -0.2
PAT margin %
+391 bps -116 bps
3.8% 5.0% -0.1%
EPS (₹)
from loss -15.0%
3.23 3.80 -0.07
Quality of profit
Core 71% Other income & one-offs 29%
Pre-tax profit ₹13.3 Cr: core business ₹9.5 Cr, other income ₹3.9 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹50.0 Cr:
1292% of FY25 net profit of ₹3.9 Cr.
Borrowings ₹73.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹301 ₹264
-12.2% 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 13 Oct 2026, 17:43 IST