Q1 Earnings Snapshot 2026 – Winners, Surprises & Misses Revealed!

Strong YoY growth with sharp profit expansion, but QoQ performance moderated. At 38.4x P/E, valuations remain premium.

🟢 Strong quarter — robust revenue and EBITDA growth, while profit growth remained moderate. Valuation at 47.8x P/E warrants monitoring.

🟢 Revenue and EBITDA show steady improvement, but Vodafone Idea remains loss-making and the QoQ profit comparison is distorted by the ₹51,970 Cr exceptional gain in the previous quarter.

🟢 Strong quarter — robust YoY growth with healthy QoQ improvement; valuation remains reasonable at 24.3x P/E.

Weak quarter — Sales were flat YoY, but profitability declined sharply both YoY and QoQ.

🟢 Strong YoY improvement, but QoQ moderation in sales, EBITDA and profit; valuation remains premium at 78.7x P/E.

Mixed quarter — revenue grew, but margin pressure dragged EBITDA and profit below expectations.

Positive YoY growth with strong profit recovery, though revenue and EBITDA declined QoQ. At 7.5x P/E, valuation remains attractive if earnings momentum sustains.

Verdict: Strong quarter with healthy double-digit QoQ growth and sharp YoY improvement in profitability. Earnings momentum remains positive, though valuation at 27.4x P/E warrants monitoring.

Strong YoY growth, but QoQ profitability moderated; execution remains positive, while valuation at 45.4x P/E warrants monitoring.

Strong YoY improvement, but sharp QoQ profit decline warrants caution.

Strong turnaround with sharp YoY/QoQ improvement; earnings momentum is positive, though valuation at 33x PE warrants monitoring.

Strong YoY growth and sharp profit improvement, though QoQ performance softened. Overall, a positive quarter.

🟡 Revenue growth is healthy and operating loss has narrowed sharply, but profit and EPS declined significantly. At 115.7x P/E, valuation remains demanding.

🟡 Mixed quarter — strong YoY sales growth, but sharp QoQ decline in EBITDA and profit keeps near-term momentum subdued.

🔴 Weak quarter — revenue grew YoY, but the sharp decline in EBITDA and net profit is a major concern.

⚠️ Mixed: Revenue grew 4.5% YoY, but profitability remains significantly below last year. The QoQ turnaround from losses to profit is positive, but the sharp YoY decline in EBITDA, net profit and EPS remains a concern.

Strong sales growth with healthy EBITDA improvement, but sharp QoQ profit decline remains a concern.

🟢 Strong YoY growth and better profit/EPS, but QoQ revenue and EBITDA declined. Overall positive, with QoQ moderation to watch.