Q2 Earnings Snapshot 2025 – Winners, Surprises & Misses Revealed!

Verdict

LTIMindtree delivered strong Q2 FY26 results with robust growth across revenue, EBIT, and net profit, surpassing market expectations. Margin expansion highlights operational efficiency, indicating solid performance momentum.

Verdict

Infosys delivered slightly above estimated results with healthy quarter-on-quarter growth. Revenue guidance has been revised higher to 2–3%, while operating margin outlook remains stable at 20–22%, reflecting consistent operational performance.

Verdict

Wipro delivered largely in line Q2 results with modest QoQ growth in both revenue and EBIT. EBIT margin improved sequentially, reflecting operational efficiency. Q3 guidance suggests stability with potential upside, excluding contributions from Harman Digital.

Key Highlights

• Domestic volume growth in high single-digits, outperforming CNBC-TV18 poll of 1–2%.
• Domestic sales led by strong volume growth, driving double-digit growth.
• Topline and profitability beat both consensus and internal estimates.
• All segments delivered double-digit, volume-led growth.
• Analysts (CLSA, Morgan Stanley) note strong surprise on sales and topline, positive outlook on 12-month EPS.

Verdict

Nestle posted a mixed Q2 FY26, with robust revenue and EBITDA growth beating estimates, though net profit declined significantly YoY. Domestic volume strength supported the topline, indicating resilient demand across segments despite margin pressures.

Verdict

CIE Automotive delivered solid Q1 FY26 results, with consistent year-on-year growth across sales, EBITDA, net profit, and EPS. Quarterly performance remained stable, indicating steady operational execution and resilience in its automotive business.

Verdict

Jio Financial reported robust quarterly performance with strong year-on-year sales growth and stable profitability. The sharp quarter-on-quarter rise in net profit and EPS indicates improved operational leverage and efficient cost management, maintaining a positive outlook for the financial services business.

Verdict

Punjab & Sind Bank delivered robust Q2 FY26 results with strong year-on-year growth across all key metrics. Net profit and EPS showed healthy double-digit improvement, reflecting solid operational performance and efficient cost management.

Verdict

Alok Industries showed improvement in profitability, narrowing losses on both YoY and QoQ basis. Sales grew steadily, while EBIDT remained under pressure compared to the previous quarter, reflecting operational challenges. The reduction in net losses indicates gradual recovery momentum.

Verdict

Cyient reported a challenging quarter with declines in revenue, EBITDA, and net profit on a year-on-year basis. The sequential performance was mixed, showing modest sales growth but continued pressure on margins and earnings. The results suggest a cautious near-term outlook for the company.

Verdict

JSW Infrastructure delivered strong top-line growth with a 26% YoY increase in sales and healthy EBIDT margin expansion. However, net profit and EPS saw slight declines both YoY and QoQ, likely due to higher costs or lower other income. Overall, operational performance remains solid, but profitability needs monitoring.

Verdict

Arkade reported strong Q2 FY26 results with solid year-on-year growth in sales and profitability. The quarter saw impressive quarter-on-quarter gains across all key metrics, reflecting robust operational efficiency and strong market demand.

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Bharat Bijlee posted strong Q2 FY26 results with robust year-on-year growth across all key metrics. Quarterly performance was steady, reflecting consistent operational execution and healthy margin expansion. The earnings beat expectations, indicating a positive outlook for the next quarters.

Verdict

Kajaria Ceramics delivered solid Q2 FY26 results with strong profit growth and improving margins, indicating healthy operational momentum and efficient cost management. The modest sales growth alongside significant earnings acceleration suggests effective margin expansion.

Verdict

Swaraj Engines delivered steady year-on-year growth across sales, EBITDA, net profit, and EPS, reflecting healthy business momentum. The slight quarter-on-quarter decline in net profit and EPS was marginal, indicating stable operational performance in Q2 FY26.

Verdict

D B Corp delivered strong Q2 FY26 performance with healthy year-on-year growth across sales, EBITDA, net profit, and EPS. The quarter also showed solid quarter-on-quarter improvements, reflecting consistent operational efficiency and stable profitability.

Verdict

Muthoot Capital Services delivered strong top-line growth with sales rising significantly year-on-year. However, net profit and EPS fell sharply due to higher costs or provisions, despite a positive sequential improvement. The quarter shows recovery in profitability, signaling cautious optimism for upcoming quarters.

Verdict

L&T Finance delivered steady Q2 FY26 results with healthy year-on-year growth in sales, EBIDT, net profit, and EPS. Quarterly performance also showed consistent improvement, reflecting stable operations and profitability momentum.

Verdict

Delta Corp posted a mixed quarter in Q2 FY26. EBITDA showed healthy YoY growth of 17%, but sales and net profit declined slightly on both YoY and QoQ basis. EPS dipped to ₹0.94, reflecting pressure on profitability despite operational efficiency gains. The performance was slightly below market estimates, signaling a cautious near-term outlook.

Verdict

Quick Heal Tech posted a strong Q2 FY26 performance, with robust year-on-year growth in sales and profitability. The company successfully turned around its quarterly losses, demonstrating operational recovery and improved margin efficiency.

Verdict

Rossari Biotech delivered steady year-on-year growth in sales and profitability, with moderate improvement in EBIDT and net profit. Quarter-on-quarter performance shows healthy operational momentum, reflecting consistency in earnings and margin expansion.

Verdict

Zee Entertainment posted a challenging quarter with significant year-on-year declines across EBITDA, net profit, and EPS, despite a marginal drop in sales. Quarter-on-quarter results also reflect operational pressures, indicating cost and margin headwinds in the current environment and suggesting a cautious near-term outlook.

Verdict

Waaree Energies delivered robust Q2 FY26 performance with strong YoY and QoQ growth in revenue and profits. The sizable order book and active bidding pipeline point to sustained growth and expansion in the solar EPC sector. H1 FY26 reflects strong execution capabilities, setting a positive tone for the rest of the fiscal year.