Q3 FY25 earnings calls.

ABB India reported a 14% YoY revenue growth in Q3 CY2025, driven by 13% base order growth across electrification and motion segments. However, PAT declined 7% YoY due to margin compression from unfavorable mix, intensifi

Adani Enterprises reported strong operational momentum in Q3 FY25, driven by its incubating infrastructure businesses. The ANIL ecosystem EBITDA surged 121% to INR 3,666 crore for the nine-month period, with module sales

Adani Green Energy delivered strong operational performance in 9M FY25, with revenue from power supply up 18% YoY to ₹6,829 crore and EBITDA up 18% YoY to ₹6,366 crore. Energy sales grew 23% YoY to 20 billion units, driv

Adani Power's Q3 FY25 results showed stable revenue of INR 13,434 crore, but continuing EBITDA declined 5% YoY to INR 4,786 crore due to lower merchant realizations (INR 4.54/unit vs INR 6.86/unit last year). PAT was str

Adani Total Gas reported Q3 FY25 revenue of ₹1,397 crore (+12% YoY) and EBITDA of ₹272 crore, with EBITDA margin of 19.5%. CNG volumes grew 19% YoY to 171 MMSCM, driven by network expansion and affordable pricing. Howeve

Adani Ports delivered a strong Q3 FY25 with revenue up 14%, EBITDA up 19%, and PAT up 32% YoY. EBITDA margin expanded to 62% from 60% last year. Growth was driven by market share gains in containers (14.9% growth), price

Aditya Birla Capital reported a mixed Q3 FY25 with consolidated PAT declining 3% YoY to INR 708 crore, while revenue grew 10% to INR 10,949 crore. The NBFC business saw calibrated growth, shifting towards secured loans (

ABFRL reported Q3 FY25 consolidated revenue of INR 4,305 crore (+3% YoY) and EBITDA of INR 683 crore (+13% YoY), with margin expanding 140 bps to 15.9%. PAT loss narrowed to INR 42 crore from INR 108 crore. Growth was dr

AIA Engineering reported Q3 FY25 revenue of INR 1,050 crore with EBITDA of INR 354.6 crore (33.8% margin) and PAT of INR 259.2 crore. Volumes were 65,780 tons, down from 74,000 tons YoY, reflecting destocking and freight

Ajanta Pharma reported Q3 FY25 revenue of INR 1,146 crore (+4% YoY), with branded generics growing 10% to INR 834 crore. EBITDA margin held at 28%, while PAT rose 11% to INR 233 crore. India business grew 12% to INR 345

Alkem reported Q3 FY25 revenue of INR 3,374 crore (+1.5% YoY) and EBITDA margin of 22.5% (+7.3% YoY), driven by cost optimization and focus on higher-margin offerings. Domestic branded generic growth of 6% was in line wi

APAR Industries reported Q3 FY25 consolidated revenue of INR 4,716 crore, up 17.7% YoY, driven by strong domestic volume growth in conductors and cables. However, EBITDA fell 7.1% to INR 401 crore (margin 8.5%), and PAT

Apollo Tyres reported Q3 FY25 consolidated revenue of ₹6,930 crore, up 5% YoY, with EBITDA margin of 13.7% (flat QoQ) despite raw material cost pressures. India revenue was ₹4,540 crore (+5% YoY) with EBITDA margin of 11

Apollo Hospitals delivered a strong Q3 FY25 with consolidated revenue of INR 5,527 crore (+14% YoY) and EBITDA of INR 762 crore (+24% YoY). PAT surged 52% YoY to INR 372 crore, driven by mid-teens growth across all segme

Ashok Leyland reported a strong Q3 FY25 with PAT up 31% YoY to INR 762 crore and EBITDA margin expanding to 12.8% (up 80 bps YoY). Revenue grew 2.2% to INR 9,479 crore, driven by better mix (higher multi-axle trucks, bus

Asian Paints reported a weak Q3 FY25 with decorative volume growth of only 1.6% and value decline of -7.8% YoY, driven by muted consumer sentiment, a shorter festive season, and urban slowdown. Consolidated revenue fell

Astral reported a marginal 2% YoY revenue growth to INR 1,397 crore in Q3 FY25, with consolidated EBITDA up 9.3% YoY and margins at 16.5%. The pipes & fittings segment delivered 18.47% EBITDA margin despite flat volumes,

AU Small Finance Bank reported Q3 FY25 PAT of INR 528 crore, down 7% QoQ due to elevated credit costs in MFI and credit cards. Net interest margin declined 23 bps QoQ to 5.9%, impacted by higher investment mix and advers

Aurobindo Pharma delivered its highest-ever quarterly revenue of INR 7,979 crore in Q3 FY25, driven by robust US base product sales, strong European growth (+23% YoY), and expansion in growth markets (+39% YoY). EBITDA m

Axis Bank reported a steady Q2 FY25 with PAT of INR 6,918 crore, up 18% YoY, driven by healthy operating income and moderated expense growth. Consolidated ROA improved to 1.92% and ROE to 18.08%. Deposit growth remained

Bajaj Auto delivered a strong Q3 FY25 with revenue of INR 12,807 crore (+6% YoY) and EBITDA of INR 2,581 crore (+6% YoY), marking the fifth consecutive quarter of 20%+ EBITDA margin. Key drivers included record exports (

Bajaj Finance reported a solid Q3 FY25 with PAT of ₹4,308 crore (+18% YoY) and AUM growth of 28% YoY to ₹3.98 lakh crore. New loan bookings hit a record 12 million and customer franchise reached 97.12 million, on track t

Bajaj Housing Finance reported a strong Q3 FY25 with AUM growth of 26% YoY to INR 108,314 crore and PAT growth of 25% YoY to INR 548 crore. Asset quality remained robust with GNPA at 0.29% and NNPA at 0.13%. Operating ef

Bajaj Finserv reported a mixed Q3 FY25. Consolidated revenue grew 10% YoY to INR 32,042 crore, while PAT rose 3% to INR 2,231 crore. Excluding unrealized MTM, core PAT grew 23%. BAGIC delivered strong performance with 39

Bandhan Bank's Q3 FY25 results were weak, with PAT at INR 426 crore, down 42% YoY, driven by elevated provisions of INR 1,376 crore (including INR 336 crore from technical write-offs) and a one-off ESOP expense of INR 16

Bank of Baroda reported a steady Q3 FY25 with PAT of ₹4,837 crore (+5.6% YoY) and operating profit growth of 9.3% YoY. Domestic advances grew 11.9% YoY, driven by retail (+20%), agri (+13%), and MSME (+14%), while corpor

Bata India reported a muted Q3 FY25 with revenue of INR 918.55 crore, up only 1.7% YoY, reflecting sluggish demand. EBITDA margin expanded 141 bps to 22.7% driven by cost efficiencies and lower discounting, while PAT was

Berger Paints reported a 7.4% volume growth in Q3 FY25, outperforming peers, driven by strong decorative performance and market share gains (now >20%). Revenue grew 0.4% YoY (standalone) due to price cuts and mix shift t

Bharat Electronics reported a strong Q3 FY25 with revenue of INR 14,174 crore for 9M FY25, up 23.41% YoY, and PAT of INR 3,183 crore, up 42.34% YoY. EBITDA margin expanded to 28.07% (vs 23.67% last year), driven by execu

BPCL reported Q3 FY25 revenue of INR 127,521 crore and PAT of INR 4,649 crore, with refinery throughput at 107% of nameplate capacity despite planned shutdowns. GRM stood at $5.6/bbl, impacted by lower Russian crude proc

Bharti Airtel delivered a consistent quarter with consolidated revenues of INR 45,130 crores and India revenue (ex-Indus) growing 4.8% sequentially to over INR 33,000 crores. EBITDA margins improved to 56.2%, up 140 bps

Biocon's Q3 FY25 results were in line with expectations, with consolidated revenue from operations of INR 3,821 crore, up 10% YoY on a like-for-like basis. Growth was driven by biosimilars (+14% YoY) and research service

Blue Dart reported Q3 FY25 revenue of INR 15,117 million, up 9.3% YoY, and PAT of INR 791 million. Growth was driven by festive demand, improved fleet utilization, and a peak season surcharge. Tonnage grew 12% YoY to 351

Bosch Limited reported Q3 FY25 revenue of INR 4,465.7 crore, up 6.2% YoY, driven by Mobility Aftermarket (+8.8%), Two-Wheeler (+23.9%), and Consumer Goods (+8.8%). EBITDA grew marginally by 0.7% YoY to INR 582.6 crore, a

Britannia reported a 6.5% revenue growth in Q3 FY25, with PAT up 4.5%, despite an 11% commodity inflation led by cocoa (+103%) and palm oil (+43%). Volume growth was ~6%, nearly matching revenue, indicating no price-led

Canara Bank delivered a 12.25% YoY PAT growth to ₹4,104 crore in Q3 FY25, driven by strong operating profit growth of 15.15% YoY to ₹7,837 crore and a 23.31% YoY rise in fee income. Asset quality improved significantly w

CDSL reported a 26% YoY revenue growth to ₹298 crore and 21% YoY PAT growth to ₹130 crore for Q3 FY25, driven by continued demat account additions (14.65 crore accounts, 40% YoY growth) and market infrastructure leadersh

Cipla reported Q3 FY25 revenue of INR 7,073 crore (+8% YoY) and EBITDA margin of 28% (+184bps YoY), driven by strong India (10% growth), South Africa (21% ZAR), and EMEU (20% USD) performance. US revenue was $226M, impac

Coforge delivered an exceptionally strong Q3 FY25 with sequential CC revenue growth of 8.4% and YoY CC growth of 40.3%, driven by broad-based strength across geographies, verticals, and service lines. Adjusted EBITDA mar

Coromandel reported a stellar Q3 FY25 with consolidated revenue of INR 7,049 crore (+28% YoY) and EBITDA of INR 722 crore (+102% YoY), driven by record NPK volumes (11.4 lakh tons primary sales, +21% YoY) and strong oper

Cummins India delivered a strong Q3 FY25 with revenue of INR 3,041 crores, up 22% YoY, driven by robust domestic demand across Power Gen, Industrial, and Distribution segments. Domestic sales grew 18% YoY to INR 2,577 cr

Dabur India reported Q3 FY25 consolidated revenue growth of 3.1% YoY in INR terms, with India business growing 1.7% and volume growth of ~1.5%. International business grew 18.9% in constant currency. PAT grew 1.8% YoY. G

Delhivery reported Q3 FY25 revenue of INR 2,378 crore, up 8.4% YoY, with EBITDA of INR 102 crore (4.3% margin) and PAT of INR 25 crore. Express parcel volumes grew only 2.4% YoY to 206 million shipments, reflecting muted

Divis Laboratories reported a strong Q3 FY25 with PAT of INR 589 crore, up 64.5% YoY, driven by robust custom synthesis growth and stable generics volumes. The company commissioned Phase I of its Kakinada Unit 3 in Janua

Dixon Technologies delivered a stellar Q3 FY25 with consolidated revenue surging 117% YoY to INR 10,461 crore, driven by a 176% YoY jump in mobile revenues to INR 8,089 crore. EBITDA grew 113% to INR 398 crore, while PAT

DLF reported a stellar Q3FY25 with pre-sales of INR 11,800+ crore driven by the Dahlias launch, which alone contributed over INR 8,000 crore of pre-margin. PAT hit INR 1,000 crore, crossing the four-digit mark for the fi

Dr. Reddy's delivered a steady Q3 FY25 with consolidated revenue of INR 8,359 crore (+16% YoY) and EBITDA margin of 27.5%, though PAT growth was muted at 2% YoY to INR 1,413 crore. The quarter included first-time consoli

Eicher Motors reported a strong Q3 FY25, driven by Royal Enfield's record retail growth of ~19% and VECV's highest-ever quarterly sales of 21,012 units. Royal Enfield's market share in motorcycles reached ~10.5%, support