Whalesbook
Hero MotoCorp's third-quarter performance showcased robust revenue growth, but its standalone net profit of ₹1,349 crore fell slightly short of Bloomberg estimates. Revenue from operations climbed 21% year-on-year to ₹12,328 crore, driven by strong sales, exceeding estimates.
Banking Sector Watch
Federal Bank secured Reserve Bank of India (RBI) approval for Asia II Topco XIII Pte. Ltd. to acquire up to a 9.99% stake. This regulatory nod allows for the stake acquisition under specified conditions, impacting the bank's ownership structure.
Telecom Sector Performance
Bharti Airtel reported a marginal quarter-on-quarter decline in net profit for October-December, totaling ₹6,631 crore, down 2.4%. This dip was attributed to higher exceptional charges and provisions, despite sequential improvements in operating performance. The figure also trailed Bloomberg consensus estimates of ₹7,157 crore.
Retail and Fashion Challenges
Aditya Birla Fashion and Retail (ABFRL) saw its consolidated net loss widen to ₹152 crore in Q3 FY26, largely due to the implementation of new labor codes. Despite this, consolidated revenue rose 8% year-on-year to ₹2,374 crore, aligning with street estimates amid a seasonal uptick in spending.
Energy Sector Strength
Indian Oil Corporation (IOC) posted a substantial standalone net profit of ₹12,125.86 crore for Q3 FY26, a significant jump from ₹2,873.53 crore in the prior year. Softer crude oil prices boosted refining profitability, a key driver, while domestic fuel consumption remained firm. Revenue increased to ₹2.31 lakh crore.
Insurance Giant's Growth
Life Insurance Corporation of India (LIC) announced a 17% year-on-year increase in net profit, reaching ₹12,958 crore for the December quarter. Net premium income rose to ₹1,25,613 crore, indicating robust growth in its core insurance business.
E-commerce Dynamics
FSN E-Commerce Ventures, which operates Nykaa, reported a 142% jump in profit after tax (PAT) to ₹63 crore. Net profit was up 156% at ₹68 crore, before accounting for a ₹16 crore impact from revisions due to new labor codes. Revenue grew 26.7% to ₹2,873 crore.
Automotive Sector Setbacks
Tata Motors recorded a consolidated net loss of ₹3,483 crore for the quarter ended December 31, 2025. The lingering impact of a cyber attack on its luxury arm, Jaguar Land Rover, continued to weigh on performance. Revenue declined 3.1% sequentially and 25.8% year-on-year.
Edtech Expansion
Physicswallah reported a 34% year-on-year increase in revenue from operations to ₹1,082.4 crore for Q3 FY26. Profit after tax (PAT) rose 33% to ₹102.3 crore, with adjusted EBITDA growing 40% to ₹351.2 crore.
Renewable Energy Surge
Saatvik Green Energy posted a 144% year-on-year net profit jump to ₹98.72 crore. This was driven by a surge in revenues, which more than doubled to ₹1,257.02 crore, amid rising solar installations across the country.