Nesco Q3 FY26 results: net profit ₹104.64 crore

How did Nesco perform in Q3 FY26?

Nesco reported consolidated revenue of ₹247.92 crore for the October–December 2025 quarter, compared with ₹239.18 crore in Q2 FY26. Other income was ₹26.51 crore and total income was ₹274.43 crore. Total expenses rose to ₹142.58 crore from ₹120.09 crore, while EBITDA fell to ₹125.99 crore from ₹136.12 crore. The EBITDA margin declined to 50.8% from 56.9%, a fall of 6.1 percentage points.

Profit before tax was ₹131.85 crore, down from ₹143.49 crore, and tax expense was ₹27.21 crore. Nesco reported a net profit of ₹104.64 crore, compared with ₹118.91 crore in Q2 FY26, and basic EPS of ₹14.85 against ₹16.88. No exceptional item was reported. The filing also reported standalone revenue of ₹247.92 crore and standalone profit after tax of ₹104.64 crore for the quarter.

The consolidated figures for Q3 FY26 were also reported as standalone figures in the filing. The board approved the unaudited standalone and consolidated results for the quarter and nine months ended 31 December 2025 at its meeting on 27 January 2026. The filing stated that previous-period figures had been regrouped wherever necessary.

How has Nesco done over the last 8 quarters?

Revenue rose across the reported sequence from ₹157.24 crore in Q4 FY23 to ₹247.92 crore in Q3 FY26, reaching its highest level in the latest quarter. Profit after tax increased from ₹84.95 crore in Q4 FY23 to ₹104.64 crore in Q3 FY26, but was below the ₹118.91 crore reported in Q2 FY26. The trend data show revenue and profit rising through Q3 FY26, while the latest quarter saw profit ease from the preceding quarter.

The EBITDA margin reached 64.0% in Q3 FY24, fell to 55.6% in Q4 FY25 and recovered to 57.1% in Q1 FY26 and 56.9% in Q2 FY26. It then declined to 50.8% in Q3 FY26. Revenue was ₹239.18 crore in Q2 FY26 and ₹247.92 crore in Q3 FY26, while profit was ₹118.91 crore and ₹104.64 crore, respectively. The reported trend therefore points to higher revenue but lower profit and margin in the latest quarter.

Which businesses drove the quarter?

Realty reported revenue of ₹100.11 crore and segment profit before tax and finance costs of ₹83.49 crore, with an EBIT margin of 83.4%. Bombay Exhibition Center reported revenue of ₹68.21 crore and EBIT of ₹36.36 crore, with an EBIT margin of 53.3%. The filing did not provide a year-ago revenue or EBIT comparison for either segment.

Indabrator reported revenue of ₹9.17 crore and EBIT of ₹0.56 crore, with an EBIT margin of 6.1%. Foods reported revenue of ₹70.43 crore and EBIT of ₹9.13 crore, with an EBIT margin of 13.0%. Way-Side Amenities reported no revenue and EBIT of ₹-1.67 crore. Income from investments and other income was ₹26.51 crore, with EBIT of ₹0.0 crore.

How did Nesco shares react?

The filing was released after market hours. From the price when the filing appeared, the stock moved -0.2% after 5 minutes, 0.7% after 15 minutes and 1.0% after 30 minutes. On the reaction day, it closed 1.6% lower from the previous close, while the Diversified Commercial Services median was 1.0% higher, leaving an excess-sector move of -2.6 percentage points.

By the next day's close, the stock was down 0.8% from its pre-results close, compared with a 0.9% rise for the industry median. By the fifth session’s close, it was up 5.1% from the pre-results close, against a 3.9% industry median move; the corresponding excess-sector move was 1.2 percentage points. Earlier reaction-day moves were 8.3% on 6 November 2025, 4.5% on 30 July 2025 and -4.9% on 16 May 2025.

How did other Diversified Commercial Services companies do?

The peer set included 73 Diversified Commercial Services companies that filed for the quarter. Their median revenue growth was 7.1%. The available peer data do not specify how many peers grew slower or faster than Nesco, so those counts cannot be stated. Among the 106 peer profit comparisons, 53 peers reported higher profit.