Q3 FY25 Earnings Season

ABB India reported a 14% YoY revenue growth in Q3 CY2025, driven by 13% base order growth across electrification and motion segments.

Varun Beverages reported a subdued Q3 CY2025 with consolidated revenue of INR 4,897 crore (+1.9% YoY) and volume growth of 2.4% to 273.8 million cases, impacted by prolonged rai...

ONGC reported a turnaround in domestic oil and gas production during Q3 FY25, with crude oil output growing 1.02% YoY and gas production showing a marginal increase, reversing a...

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).

Sun Pharma delivered a solid Q3 FY25 with consolidated sales of INR 13,437 crore, up 10.5% YoY, driven by strong India (13.8% growth) and emerging markets (10.1% growth).

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%.

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.

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 expan...

Kalyan Jewellers delivered a strong Q3 FY25 with consolidated revenue of ₹7,287 crore (+40% YoY) and PAT of ₹219 crore (+22% YoY).

Titan delivered a strong Q3 FY25 with broad-based growth across jewelry, watches, and emerging businesses.

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.

Ajanta Pharma reported Q3 FY25 revenue of INR 1,146 crore (+4% YoY), with branded generics growing 10% to INR 834 crore.

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.

PowerGrid reported consolidated Q3 FY25 total income of INR 11,743 crore and PAT of INR 3,862 crore.

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.

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.

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).

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.

Hero MotoCorp reported Q3 FY25 revenue of ₹10,211 crore (+5% YoY), EBITDA of ₹1,476 crore (+8% YoY), and PAT of ₹1,203 crore (+12% YoY).

Hindalco delivered a strong Q3 FY25 with consolidated EBITDA up 28% YoY to INR 8,108 crore and PAT up 60% YoY to INR 3,735 crore, driven by record Indian aluminum EBITDA of INR...

M&M delivered a strong Q3 FY25 with consolidated PAT up 20% YoY, driven by robust performance in Auto & Farm.

Adani Enterprises reported strong operational momentum in Q3 FY25, driven by its incubating infrastructure businesses.

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/un...

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.

Bajaj Finserv reported a mixed Q3 FY25.

Bata India reported a muted Q3 FY25 with revenue of INR 918.55 crore, up only 1.7% YoY, reflecting sluggish demand.

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.

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.

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.

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.

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%).

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 inc...

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%.

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.

Grasim's Q3 FY25 consolidated revenue grew 9% YoY to INR 34,793 crore, marking the 17th consecutive quarter of YoY growth.

SBI reported a stellar Q3 FY25 with net profit surging 84% YoY to INR 16,891 crore, driven by robust credit growth of 13.49% YoY, industry-leading asset quality (slippage ratio...

Adani Total Gas reported Q3 FY25 revenue of ₹1,397 crore (+12% YoY) and EBITDA of ₹272 crore, with EBITDA margin of 19.5%.

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.

Berger Paints reported a 7.4% volume growth in Q3 FY25, outperforming peers, driven by strong decorative performance and market share gains (now >20%).

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 to...

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.

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.

Escorts Kubota reported a steady Q3 FY25 with consolidated revenue from continuing operations at INR 2,948 crores, up 8.1% YoY, and EBITDA margin of 11.3%.

Blue Dart reported Q3 FY25 revenue of INR 15,117 million, up 9.3% YoY, and PAT of INR 791 million.

Tata Motors reported a mixed Q3 FY25.

Maruti Suzuki reported Q3 FY25 net sales of INR 36,800 crore (+15.5% YoY) and PAT of INR 3,525 crore (+12.6% YoY), driven by festive demand and record exports of 99,020 units (+...

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.

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%).

UltraTech delivered a strong operational quarter with EBITDA per ton of INR 964, up over 30% QoQ, driven by price recovery and cost efficiencies.

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%.

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 ma...

JSW Steel reported a strong operational quarter with highest-ever consolidated crude steel production of 7.03 million tons and record domestic sales of 6.71 million tons, up 12%...

Tata Steel's Q3 FY25 consolidated revenue stood at INR 53,648 crore with EBITDA of INR 5,994 crore, impacted by subdued global steel prices and elevated Chinese exports.

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.

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HUL reported Q3 FY25 revenue of ₹15,195 crore (+2% YoY underlying sales growth) with flat volume growth, as urban demand moderated and rural recovery remained gradual.

NTPC reported a strong Q3 FY25 with standalone PAT of INR 4,711 Cr (+3% YoY) and group EBITDA of INR 16,056 Cr for 9M FY25 (+8% YoY).

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.

IEX reported a solid Q3 FY25 with consolidated revenue of INR 160.5 crore (+13.7% YoY) and PAT of INR 107.3 crore (+16.9% YoY), driven by 30.5 BU electricity volumes (+16% YoY)...

SBI Life delivered a strong Q3 FY25 with PAT surging 48% YoY to INR 16 billion, driven by robust investment income and a growing backbook.

Tata Consumer Products reported a strong Q3 FY25 with consolidated revenue growth of 17% YoY to INR 4,444 crore, driven by broad-based volume growth of 7% in India Beverages and...

ICICI Bank reported a steady Q3 FY25 with PAT growing 14.8% YoY to ₹117.92 billion, driven by core operating profit growth of 13.1% YoY and strong fee income (+16.3% YoY).

Kotak Mahindra Bank reported a 10% YoY rise in consolidated PAT to ₹4,700 crore, driven by strong capital markets performance in subsidiaries (Kotak Securities, AMC, Investment...

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.

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...

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% US...

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, vertic...

Tech Mahindra reported Q3 FY25 revenue of ₹13,286 crore (+1.4% YoY reported) and EBIT margin of 10.2% (+60bps QoQ), driven by Project Fortius savings and pricing discipline.

Infosys reported Q3 FY25 revenue growth of 1.7% QoQ and 6.1% YoY in constant currency, with operating margin at 21.3% and free cash flow at an all-time high of $1.26 billion.

Reliance Industries reported a strong Q3 FY25 with consolidated EBITDA up 8% YoY and PAT up 12% YoY, driven by robust performance across all segments.

Adani Ports delivered a strong Q3 FY25 with revenue up 14%, EBITDA up 19%, and PAT up 32% YoY.

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...

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.

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...

HDFC Bank's Q3 FY25 results reflect a challenging macro environment with tight liquidity and moderating urban demand.

KFin Technologies delivered a strong Q3 FY25 with revenue growing 33% YoY and EBITDA up 35% YoY, driven by broad-based expansion across mutual funds, issuer solutions, internati...

L&T reported a strong Q3 FY25 with group revenues of INR 64,700 crore (+17% YoY) and PAT of INR 3,360 crore (+14% YoY).

HCL Tech reported a solid Q3 FY25 with constant currency revenue growth of 4.1% YoY and 3.8% QoQ, driven by broad-based demand recovery in technology, financial services, and re...

Wipro delivered a solid Q3 FY25 with IT services revenue of $2.63B, slightly above guidance, and operating margins at a 12-quarter high of 17.5%, expanding 150bps YoY.

TCS reported Q3 FY25 revenue of INR 63,973 crore, up 5.6% YoY, with operating margin expanding 40 bps sequentially to 24.5%.

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.