Q3 FY26 results: revenue up 10 percent, PAT down 78 percent on Avon impairment
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On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 3.7 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Updater Services posted Q3 FY26 consolidated revenue of Rs 767.10 crore, up 10 percent YoY. However, PAT fell sharply to Rs 6.61 crore from Rs 31.15 crore YoY, hit by a Rs 201 crore expected credit loss on alleged irregularities in subsidiary Avon Solutions and a Rs 5.36 crore impact from new Labour Codes. 9M FY26 PAT declined 35 percent to Rs 55.40 crore. Auditor B S R issued a modified conclusion drawing attention to the Avon matter, which remains under investigation.
Sharp profit drop plus continuing auditor concern over subsidiary irregularities may weigh on investor sentiment, even though top line is growing.