Q3 FY26 Earnings Results
Q3 FY26 earnings, Oct–Dec 2025: 5,048 Indian listed companies have reported; median profit growth is +2.2% on last year, and 143 of 376 companies with analyst estimates beat them. Quarter ended 31 Dec 2025.
Reported
5,048
companies
Profit breadth
51% / 46%
grew / declined · 3,531 comparable
Median sales YoY
+8.3%
across all reporters
Median profit YoY
+2.2%
across all reporters
Beat / missed
143 / 210
of 376 covered
Strongest / weakest
Automobiles +23.4%
Consumer Services −36.6%
median profit growth, 10+ reporters
| # | Company | Profit (₹ Cr) | Sector | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|---|---|---|
| 🥇 |  RELIANCE Reliance Industries Ltd | 22,290 | Petroleum Products | 2,64,905 | 22,290 |
| 🥈 |  SBIN State Bank of India | 22,176 | Banks | — | 22,176 |
| 🥉 | Jain Granites & Projects India Ltd | 20,691 | — | — | 20,691 |
| 4 |  HDFCBANK HDFC Bank Ltd | 20,691 | Banks | — | 20,691 |
| 5 |  IOC Indian Oil Corporation Ltd | 13,502 | Petroleum Products | 2,05,157 | 13,502 |
| 6 |  ICICIBANK ICICI Bank Ltd | 13,481 | Banks | — | 13,481 |
| 7 |  LICI Life Insurance Corporation of India | 12,908 | Insurance | 2,35,954 | 12,908 |
| 8 |  ONGC Oil & Natural Gas Corpn Ltd | 11,946 | Oil & Gas | 1,67,423 | 11,946 |
| 9 | Apeejay Tea Ltd (Merged) | 10,720 | — | 67,087 | 10,720 |
| 10 |  TCS Tata Consultancy Services Ltd | 10,720 | Information Technology | 67,087 | 10,720 |
| 11 | Vishwakarma Cements Ltd | 8,503 | — | 53,982 | 8,503 |
| 12 |  BHARTIARTL Bharti Airtel Ltd | 8,503 | Telecom | 53,982 | 8,503 |
| 13 |  PFC Power Finance Corporation Ltd | 8,212 | Financial Services | — | 8,212 |
| 14 |  VEDL Vedanta Ltd | 7,807 | Metals & Mining | 21,337 | 7,807 |
| 15 |  BPCL Bharat Petroleum Corporation Ltd | 7,188 | Petroleum Products | 1,19,029 | 7,188 |
| 16 |  COALINDIA Coal India Ltd | 7,166 | Energy | 34,924 | 7,166 |
| 17 |  AXISBANK Axis Bank Ltd | 7,060 | Financial Services | — | 7,060 |
| 18 |  INFY Infosys Ltd | 6,666 | Information Technology | 45,479 | 6,666 |
| 19 |  HINDUNILVR Hindustan Unilever Ltd | 6,603 | FMCG | 16,441 | 6,603 |
| 20 |  ADANIENT Adani Enterprises Ltd | 5,727 | Metals & Mining | 24,820 | 5,727 |
| 21 |  NTPC NTPC Ltd | 5,597 | Power | 45,846 | 5,597 |
| 22 |  PNB Punjab National Bank | 5,577 | Banks | — | 5,577 |
| 23 |  BANKBARODA Bank of Baroda | 5,501 | Banks | — | 5,501 |
| 24 |  CANBK Canara Bank | 5,174 | Banks | — | 5,174 |
| 25 |  UNIONBANK Union Bank of India | 5,073 | Banks | — | 5,073 |
About the Q3 FY26 leaderboard
What does the Q3 FY26 earnings leaderboard rank?
Companies ranked on one measure at a time — EPS surprise against consensus, profit growth, revenue growth, or absolute profit and revenue. Ranking is computed over every company that reported the quarter, not just the ones on the first page of the grid.
Which companies can appear in the EPS surprise ranking?
Surprise is measured against an analyst estimate, and only 376 companies had one for Q3 FY26. A company nobody covers has no surprise to report, so it sorts below every company that does rather than being ranked at zero — in practice the ranking is filled by covered companies.
Is a large percentage growth figure always a good result?
No. A company recovering from a very small base can post several hundred percent growth on a modest absolute gain, which is why absolute revenue and profit are shown beside the growth figure. Growth measured from a loss-making base is excluded entirely rather than published as a large number.
Why do some Q3 FY26 growth figures show "n/a" instead of a percentage?
Growth is left blank whenever the comparison period was not profitable. A percentage change measured from a loss is arithmetic without meaning — a swing from a ₹10 crore loss to a ₹10 crore profit is not "200% growth", and publishing it as such would flatter the company. The reported figures for both periods are still shown, so the change is there to read directly.
Does the beat/miss verdict cover every company?
No, and the denominator matters. An analyst consensus existed for 376 of the 5,048 companies that reported Q3 FY26 — 7.4%. Beat, missed and in-line describe only those. Every other company is marked "no estimate" rather than being counted as in line, because nobody forecast it. Revenue and profit growth, by contrast, cover every company in the table.
What counts as an in-line result rather than a beat or a miss?
Reported earnings per share within ±2% of the consensus estimate. The band is set there because a tighter one classifies rounding as news, and a wider one swallows surprises that genuinely moved a stock.
Are the figures consolidated or standalone?
Consolidated where a company reports on that basis, standalone otherwise, with all money in ₹ crore. Figures are as filed by the company with the exchanges (NSE/BSE); they are not restated or adjusted.
Figures are as reported by companies in their quarterly filings to the exchanges (NSE/BSE), in ₹ crore. Consolidated results are shown where a company reports them, otherwise standalone. Year-on-year and quarter-on-quarter growth is omitted where the comparison period was loss-making, since a percentage change from a negative base is not meaningful. Analyst consensus is an estimate, not a forecast of outcome.