Financial Results
Awaiting price reaction for this filing.
Photon Capital Advisors reported its Q3 FY26 results (quarter ended 31 Dec 2025). On a standalone basis, total income declined to Rs 5.00 lakhs from Rs 6.47 lakhs a year earlier, while total expenses rose to Rs 16.42 lakhs from Rs 13.49 lakhs, leading to a wider standalone loss of Rs 11.42 lakhs for the quarter. For the nine-month period, standalone loss deepened to Rs 31.32 lakhs versus Rs 19.21 lakhs in the prior year, with employee costs and other expenses both rising meaningfully. On a consolidated basis, the picture improved sharply because of share of profits from associate Nicosa Consulting (Rs 33.58 lakhs in Q3 versus a loss of Rs 29.82 lakhs YoY), flipping the company to a 9M consolidated profit of Rs 41.17 lakhs versus a loss of Rs 31.87 lakhs last year. The auditor, M. Anandam & Co., issued a clean (unqualified) limited review report on both sets of results.
The standalone business is still loss-making and is heading in the wrong direction, with costs rising and income shrinking. The headline consolidated profit is entirely driven by the associate company's contribution, so investors should treat core operations as weak and view the stock with caution.