Headline Numbers
For Q3 FY26 (quarter ended December 31, 2025):
• The company reported income from operations of ₹3,720 million, up 8.7% year-on-year (YoY) and up 9.1% quarter-on-quarter (QoQ).
• EBITDA for the quarter was ₹1,561 million, representing an EBITDA margin of 41.96%, compared with ₹1,312 million and 38.34% margin YoY; QoQ EBITDA decreased slightly (-1.9%).
• Profit After Tax (PAT) was ₹888 million, reflecting PAT margin of 23.87%, up 8.0% YoY but down 4.7% QoQ.
For 9M FY26 (nine months ended December 31, 2025):
• Income from operations was ₹10,543 million, down 12.8% YoY compared with ₹12,091 million in the corresponding period.
• EBITDA for 9M FY26 was ₹4,535 million, with an EBITDA margin of 43.01%, compared with ₹4,645 million and 38.42% margin in the prior nine-month period.
• Profit After Tax for 9M FY26 was ₹2,664 million, down 13.9% YoY, with a PAT margin of 25.27% versus 25.59% in the prior period.
Performance Overview
The presentation notes that for the quarter ended December 31, 2025, growth in income from operations was primarily driven by increases in core broking and trading revenue and related financial services compared with the prior year. EBITDA margin expansion YoY reflected improved operational leverage despite a slight QoQ contraction in EBITDA, and profit after tax showed a modest YoY increase for the quarter while tempered by higher finance costs. For the nine months ended December 31, 2025, the year-on-year decline in total income from operations and PAT was accompanied by a rise in EBITDA margin, suggesting cost management offset part of the revenue contraction.
Forward-Looking Commentary (As Disclosed Only)
Management’s priorities highlighted strategic diversification across platforms, expansion of algorithmic trading offerings, and scaling of asset-based revenue streams. No formal financial guidance ranges were provided in the disclosed investor presentation.
Other Reported Financial Details
• Diluted EPS for Q3 FY26 was ₹4.04, compared with ₹3.51 YoY.
• Diluted EPS for 9M FY26 was ₹12.14, versus ₹14.22 in 9M FY25.
• Historical consolidated data show revenue and profitability trends for FY23–FY25 and 9M FY26, including EBITDA and PAT figures with margins.