Q3 Results 2025 Highlights: Adani Green Energy sees profit surge while Mankind Pharma posts revenue growth amid profit decline

United Spirits reported a 4.3% dip in net profit for the third quarter, amounting to Rs 335 crore compared to Rs 350.2 crore in the same period last year. However, the company saw a notable 17% growth in EBITDA, reaching Rs 568 crore, up from Rs 486.5 crore in the previous year. The EBITDA margin also improved, rising to 16.6% from 16.2% year-on-year.

Mphasis reported a net profit of Rs 427.8 crore, up 1% from Rs 423.3 crore in the previous quarter. Revenue also saw a marginal rise of 0.7%, reaching Rs 3,561.3 crore compared to Rs 3,536.1 crore in the prior quarter. Meanwhile, earnings before interest and taxes (EBIT) showed a modest increase of 0.2%, standing at Rs 545.5 crore, up from Rs 544.2 crore quarter-on-quarter. The company's margin experienced a slight decline, coming in at 15.3%, down from 15.4% in the previous quarter.

Mankind Pharma net profit has decreased by 16.2%, totaling Rs 380.2 crore compared to Rs 453.8 crore in the same quarter last year. In contrast, revenue surged by 24%, reaching Rs 3,230 crore, up from Rs 2,607 crore year-on-year. The company also reported a significant increase in EBITDA, which rose by 36.8% to Rs 830 crore, compared to Rs 606.5 crore in the previous year. Moreover, Mankind Pharma's margin improved to 25.7%, up from 23.3% in the year's corresponding period.

In its latest quarterly results, Adani Green Energy revealed a remarkable net profit surge of 85.2%, reaching Rs 474 crore compared to Rs 256 crore in the same quarter last year. Revenue for the company saw a modest increase of 2.3%, totaling Rs 2,365 crore, up from Rs 2,311 crore year-on-year. However, the earnings before interest, tax, depreciation, and amortization (EBITDA) reported a slight decline of 4%, standing at Rs 1,601 crore, down from Rs 1,666 crore in the previous year. The EBITDA margin also reflected a decrease, falling to 67.7% from 72.1% year-on-year.

Hindustan Petroleum Corporation Limited (HPCL) has announced impressive financial results for the third quarter, with a net profit soaring to Rs 3,023 crore, a sharp increase from the Rs 631 crore reported in the previous quarter.

The company's total revenue experienced a 10% rise, reaching Rs 1.10 lakh crore compared to Rs 1 lakh crore in the previous quarter.

Additionally, HPCL's EBITDA surged to Rs 5,969.8 crore, up from Rs 2,724 crore in the prior quarter. The EBITDA margin improved notably, standing at 5.4% against 2.7% in the earlier quarter

Dr. Reddy’s Laboratories reported an 8.9% increase in EBITDA for Q3, reaching Rs 2,298.2 crore, up from Rs 2,111 crore in the previous year. However, the company’s margin declined to 27.5%, compared to 29.3% in Q3 2023.

Dr. Reddy’s Laboratories has posted a 35.9% increase in net profit for Q3, totaling Rs 1,413.3 crore, compared to Rs 1,379 crore in the same period last year. Revenue for the quarter grew by 15.9%, reaching Rs 8,358.6 crore, up from Rs 7,215 crore in Q3 2023.

Cyient reported an 8.3% quarter-on-quarter decline in EBIT, which stood at Rs 211.4 crore compared to Rs 230.6 crore in the previous quarter. Operating margins also saw a dip, falling to 11% from 12.5% QoQ

Engineering and technology solutions company Cyient reported a 31.7% quarter-on-quarter decline in net profit for Q3 FY25, which stood at Rs 122.3 crore compared to Rs 179 crore in the previous quarter.

However, the company delivered a 4.2% QoQ increase in revenue, which rose to Rs 1,926.4 crore from Rs 1,849.1 crore.

Auto components maker Sona BLW Precision Forgings reported a robust performance for the third quarter, posting a 13.8% year-on-year rise in net profit to Rs 151 crore, compared to Rs 132.7 crore in the same period last year.

Revenue surged 11% YoY to Rs 868 crore from Rs 781.7 crore. The company's EBITDA also grew marginally by 0.7% YoY to Rs 234.2 crore, up from Rs 232.5 crore. However, operating margins dipped to 27%, compared to 29.7% YoY.

• Net profit surges 180 percent YoY to Rs 163.6 crore
• Total income falls 3 percent YoY to Rs 2,013.3 crore

• Net profit rises 73% YoY to Rs 562 crore
• Revenue from operations up 28% to Rs 5,830.26 crore

UltraTech Cement shares jumped over 4 percent to trade at Rs 11,156 after the company announced its Q3 results. The cement-maker reported a 17 percent YoY drop in net profit, beating analysts' estimate of 26 percent fall. Its revenue rose 3 percent YoY, greater than the estimated 1.2 percent YoY rise in revenue.

• Net profit drops 17% YoY to Rs 1,470 crore, beating estimates of 26% decline
• Revenue rises 3% YoY to Rs 17,193 crore

Indus Towers shares jumped over 2 percent and are currently trading at Rs 364 per share. The company is set to announce its Q3 results today.

Shares of Dr Reddy’s Laboratories were trading 0.78% lower at Rs 1,286 per share. The company is set to announce its Q3 results today.

Shares of Amber Enterprises jumped over 10% and are currently trading at Rs 6,924. The electronics device manufacturer is set to announce its Q3 results today.

Shares of UltraTech Cement jumped nearly 3% and are currently trading at Rs 10,998. The cement company is set to announce its Q3 results today.

The shares of Zee Entertainment Enterprises jumped over 3 percent to trade at Rs 121.90 per share. The company is set to announce its Q3 results today.

The shares of Mphasis jumped over 4 percent to trade at Rs 2,930 per share. The company is set to announce its Q3 results today.

The shares of Hindustan Petroleum Corporation Limited (HPCL) fell 2.49% and are currently trading at around Rs 361 per share. The company is set to announce its Q3 results today.

The shares of Cyient Limited jumped nearly 5% and are currently trading at around Rs 1,784 per share. The company is set to announce its Q3 results today.

The company's volumes are expected to grow 9 percent YoY to 29.76 million tones per annum, said Yes Securities. A strong demand from institutional players and sustained momentum in the housing sector attributed to the expected growth in volumes. (Read more)

UltraTech Cement is expected to post a 26 percent fall in net profit year-on-year (YoY) to Rs 1,304 crore for the quarter ending December 31 due to lower realization and higher depreciation, say analysts. As per a poll of five brokerages by Moneycontrol, UltraTech Cement is expected to report a revenue of Rs 16,696 crore, up 1.2 percent YoY.

Mphasis shares jumped 1% in early trade and are currently trading at Rs 2,844. The IT services firm is set to announce its Q3 results today.

Analysts will closely monitor updates on Dr Reddy’s potential drug approvals and launches in the US over the next 12-18 months to assess its earnings visibility. Investors will be keen to understand the company’s strategies to offset revenue losses from the anticipated void following Revlimid’s patent expiry. Additionally, the progress of Dr Reddy’s biosimilars pipeline will remain a key area of interest. Focus will also center on the company’s plans for inorganic growth opportunities and its outlook on margins which will be helpful in gauging its long-term growth trajectory. (Read more)

• Lower Revlimid sales: Although Revlimid will continue to support performance of large-cap pharma players till FY26, Q3 is likely to see lower sales of the drug for several companies, noted JM Financial. Nomura also estimates a sequential decline in Revlimid sales after it remained elevated in the first half of FY25.
• Margin pressure: With the gradual tapering of contributions from Dr Reddy’s blockbuster cancer drug Revlimid, which approaches patent expiry in 2026, the company is expected to face margin pressures in Q3. The impact will also be compounded by a high base effect from the last fiscal when higher contribution from the high-margin blockbuster drug bolstered operating performance for the drugmaker.
• Muted US sales growth: Nomura anticipates a 4 percent on year decline in Dr Reddy’s US sales for the quarter. "The fall is driven by lower estimates for Revlimid sales and discontinuation of vaginal hormonal contraceptive, Nuvaring due to supply disruption. Furthermore, there is pricing pressure in the US base business," the brokerage stated.

According to a Moneycontrol poll of seven brokerages, Dr Reddy’s net profit is pegged at Rs 1,369 crore, largely at par with the Rs 1,379 crore that it reported in Q3 of last fiscal. The company’s revenue is estimated to grow 10 percent on year to Rs 7,980 crore.

However, operational performance is likely to take a major hit, which is seen as the biggest driver denting the company’s bottomline. As per the forecasts collated by Moneycontrol, Dr Reddy’s EBITDA margin is expected to squeeze sharply to 26.9 percent in Q3.

Around 59 companies are set to announce their results for the October-December quarter of the current financial year 2025. UltraTech Cement, Dr Reddy’s Labs, Hindustan Petroleum, Mphasis, Zee, Indus Towers, Adani Green Energy, Adani Energy Solutions, Cyient Limited, Mankind Pharma and United Spirits are some of the notable names among them.