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q3 results that shocked the markets this week jan 19 jan 25
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Q3 Results That Shocked the Markets This Week (Jan 19 - Jan 25)

by Pranav Nanekar Feb 04, 2025

The stock market is like a drama that never runs out of plot twists—one day, the hero stock soars, and the next, it crashes without warning. With result season in full swing, the stage is set for companies to reveal their financial report cards, and this week’s announcements didn’t disappoint. The market has been buzzing with unexpected moves, from surprising profits to shocking losses that stunned investors.


Whether you're a seasoned investor or just someone curious about what makes the markets tick, we’re breaking down Results That Shocked the Markets This Week. No jargon, no complicated charts—just the stories behind the numbers that shook the trading floor and what they mean for you.


Steady Q3FY25 Results

Vidhi Specialty Food Ingredients: Riding a Wave of Growth

Vidhi’s Q3FY25 results clearly show the company gaining momentum, with significant growth across all key metrics:


  • Revenue: ₹99 crore (vs ₹63 crore YoY, ₹91 crore QoQ)
  • PBT: ₹17 crore (vs ₹11.7 crore YoY, ₹13.5 crore QoQ)
  • PAT: ₹12.7 crore (vs ₹8.6 crore YoY, ₹10.3 crore QoQ)


What’s driving this growth? It could be a mix of expanding demand for its products and efficient cost management, reflected in the stellar PBT numbers. The strong PAT reinforces Vidhi’s position as a steady performer this quarter.


The key question now is: Can Vidhi sustain this strong trajectory in the coming quarters?


APL Apollo Tubes: Strength in Every Pipe

APL Apollo Tubes continues to demonstrate robust growth in Q3FY25, with standout performance across revenue and profitability:


  • Revenue: ₹5,432 crore (vs ₹4,177 crore YoY, ₹4,773 crore QoQ)
  • PBT: ₹280 crore (vs ₹219 crore YoY, ₹70 crore QoQ)
  • PAT: ₹217 crore (vs ₹165 crore YoY, ₹54 crore QoQ)


The YoY growth in PBT is particularly impressive, signaling strong demand recovery and operational efficiency. Despite QoQ growth being steady, APL Apollo remains a force to reckon with in its segment.


PNB Housing Finance: A Steady Climb

PNB Housing Finance delivered a solid performance in Q3FY25, supported by improvements in profitability and asset quality:


  • Revenue: ₹1,943 crore (vs ₹1,756 crore YoY, ₹1,880 crore QoQ)
  • PBT: ₹616 crore (vs ₹440 crore YoY, ₹605 crore QoQ)
  • PAT: ₹483 crore (vs ₹338 crore YoY, ₹469 crore QoQ)
  • GNPA: 1.19%, NNPA: 0.8%


With both YoY and QoQ growth, the company’s focus on asset quality and profitability is paying off. Solid GNPA numbers add confidence to its long-term trajectory.


SG Mart

SG Mart recovered well from Q2 inventory losses, showcasing an improved Q3FY25 performance:


  • Revenue: ₹1,345 crore (vs ₹748 crore YoY, ₹1,815 crore QoQ)
  • PBT: ₹37 crore (vs ₹23 crore YoY, ₹21 crore QoQ)
  • PAT: ₹28 crore (vs ₹17 crore YoY, ₹16 crore QoQ)


This quarter marked a significant YoY improvement and a steady QoQ uptick in margins, with the normalization of inventory losses playing a key role.

 

MPS Ltd: Scaling Through Strategy

MPS Ltd continues to grow steadily in Q3FY25, supported by inorganic acquisitions and effective integration:


  • Revenue: ₹186 crore (vs ₹133 crore YoY, ₹178 crore QoQ)
  • PBT: ₹55 crore (vs ₹40.6 crore YoY, ₹48 crore QoQ)
  • PAT: ₹40.7 crore (vs ₹29.7 crore YoY, ₹35 crore QoQ)


The company’s margin expansion and well-executed scaling strategies have contributed to this QoQ and YoY uptick, setting the stage for future growth.


Blockbuster Q3FY25 Results

KFin Technologies: Breaking Records

KFin Technologies delivered its best-ever quarter in Q3FY25, with record-breaking numbers across all metrics:


  • Revenue: ₹290 crore (up 33% YoY)
  • EBITDA: ₹131 crore (up 33.4% YoY, OPM at 45%)
  • PAT: ₹90 crore (up 35% YoY)


The company also reported 42.8% AUM growth compared to 39.4% for the industry and retained a 32.6% market share. With 70 international clients and steady growth, KFin is setting new benchmarks for the sector.


Oberoi Realty: Delivering Consistent Excellence

Oberoi Realty’s Q3FY25 results highlight strong growth across all key metrics:


  • Revenue: ₹1,411 crore (vs ₹1,053 crore YoY, ₹1,319 crore QoQ)
  • PBT: ₹810 crore (vs ₹479 crore YoY, ₹782 crore QoQ)
  • PAT: ₹618 crore (vs ₹360 crore YoY, ₹589 crore QoQ)


9MFY25 Performance:

  • PAT: ₹1,792 crore (vs ₹1,138 crore YoY)
  • PBT: ₹2,367 crore (vs ₹1,504 crore YoY)


With an OPM of 60%+, Oberoi Realty is reinforcing its position as a leader in the real estate sector.


Manorama Industries: Record-Breaking Quarter

Manorama Industries delivered its best-ever results in Q3FY25, with standout growth across all metrics:


  • Revenue: ₹209 crore (vs ₹98 crore YoY, ₹195 crore QoQ)
  • PBT: ₹40 crore (vs ₹10.5 crore YoY, ₹35 crore QoQ)
  • PAT: ₹29.5 crore (vs ₹7.4 crore YoY, ₹26.7 crore QoQ)


The new capacity added last quarter is contributing significantly. While the valuations are rich, the company continues to show strong signs of sustained growth, making it a promising prospect for future quarters.


Persistent Systems: Scaling New Heights

Persistent Systems achieved record-breaking numbers in Q3FY25 with robust growth:


  • Revenue: ₹3,062 crore (vs ₹2,498 crore YoY, ₹2,897 crore QoQ)
  • PBT: ₹482 crore (vs ₹389 crore YoY, ₹434 crore QoQ)
  • PAT: ₹373 crore (vs ₹286 crore YoY, ₹325 crore QoQ)


With 12% QoQ growth, strong deal wins (TCV), and industry-leading performance, Persistent Systems is setting the benchmark in its segment.


Amber Enterprises: A Phenomenal Quarter

Amber Enterprises showcased stellar growth in Q3FY25, delivering exceptional numbers:


  • Revenue: ₹2,133 crore (vs ₹1,294 crore YoY, ₹1,684 crore QoQ)
  • PBT: ₹53 crore (vs ₹24 crore QoQ, ₹30 lakh YoY)
  • PAT: ₹37 crore (vs ₹21 crore QoQ, last Q3 was a loss-making quarter)


The EBITDA grew 102% to ₹158 crore, reflecting strong operational performance and demand.


Macrotech Developers (LODHA): Achieving Milestones

Macrotech Developers delivered exceptional Q3FY25 results with impressive operational and financial performance:


  • Revenue: ₹4,083 crore (up 39% YoY)
  • EBITDA: ₹1,590 crore (up 48% YoY)
  • PAT: ₹945 crore (up 66% YoY)
  • NPM: 22.78% (v/s 17.07% Q3FY24)
  • Basic EPS: 9.48 (v/s 5.22 Q3FY24)


Other Highlights:

Significant debt reduction with D/E at 0.41

Launched the 5th project in Bangalore with GDV of ₹2,800 crore

With an OPM of 39%, Macrotech is well on track to deliver its FY25 guidance and maintain its leadership in the real estate market.


The Comeback Kings of Q3FY25 Results

V2 Retail: A Turnaround Quarter

V2 Retail’s Q3FY25 results marked a remarkable comeback with strong margin expansion:


  • Revenue: ₹590 crore (vs ₹373 crore YoY, ₹380 crore QoQ)
  • PBT: ₹69 crore (vs ₹32 crore YoY, Q2 was a loss-making quarter)
  • PAT: ₹51 crore (vs ₹24 crore YoY, Q2 was a loss-making quarter)


The company delivered a strong comeback in this quarter, showcasing resilience and growth.


Multi Commodity Exchange: Record-Setting Q3FY25

MCX posted its best-ever quarterly performance in Q3FY25, achieving new highs across key metrics:


  • Revenue: ₹301 crore (vs ₹191.5 crore YoY, ₹285.5 crore QoQ)
  • Other Income: ₹23 crore (vs ₹17 crore YoY, ₹25 crore QoQ)
  • PBT: ₹202 crore (vs ₹-13 crore YoY, ₹191 crore QoQ)
  • PAT: ₹160 crore (vs ₹-6 crore YoY, ₹153 crore QoQ)
  • Q3 EPS: ₹31.3
  • 9M EPS: ₹83.26


This performance cements MCX's strong trajectory as it continues to break records quarter over quarter.


Sunteck Realty: Record Pre-Sales & Robust Financial Growth

Sunteck Realty achieved its highest-ever pre-sales and operational milestones in Q3FY25:


Operational Highlights:

  • Q3FY25 Pre-Sales: ₹635 crore (⏫40%)
  • Collections: ₹336 crore
  • Addition of Nepean Sea Project 2 with GDV of ₹2,400 crore (Total GDV at ₹5,400 crore).
  • 9MFY25 Pre-Sales: ₹1,661 crore (⏫34%)
  • Net Operating Cash Flow Surplus: ₹312 crore
  • Zero Net Debt with ₹61 crore cash reserves.


Financial Performance:

  • Revenue: ₹162 crore (vs ₹42 crore YoY, ⏫281%)
  • EBITDA: ₹48 crore (vs ₹-15 crore YoY, ⏫426%)
  • OPM: 30%
  • PAT: ₹43 crore (vs ₹-10 crore YoY, ⏫537%)


A stellar quarter marked by operational and financial excellence!


Frog Cellsat: A Stellar Q3FY25

Frog Cellsat delivered an exceptional Q3FY25 with record growth:


  • Revenue: ₹91 crore (vs ₹45 crore YoY, ₹44 crore QoQ)
  • PBT: ₹20.6 crore (vs ₹4 crore YoY, ₹3.5 crore QoQ)
  • PAT: ₹15.6 crore (vs ₹2.8 crore YoY, ₹2.8 crore QoQ)
  • Q3 EPS: ₹10.1 (vs ₹1.8 YoY)


The company's growth trajectory is stronger than ever, setting new benchmarks for the future.


Yes Bank: Strong Growth Amid Steady Asset Quality

Yes Bank finally shows growth momentum in Q3FY25, with improvements across the board:


  • GNPA and NNPA are down QoQ and YoY.
  • PPOP: ₹1,079 crore (vs ₹864 crore YoY, ₹975 crore QoQ).
  • PBT: ₹820 crore (vs ₹309 crore YoY, ₹678 crore QoQ).
  • PAT: ₹612 crore (vs ₹231 crore YoY, ₹553 crore QoQ).
  • RoA: 0.6% (vs 0.2% YoY).


A solid quarter highlighting steady asset quality and renewed growth potential!


Usual Winners Post Surprising Q3FY25 Results


Dixon Technologies: Consistent Growth Despite Historical Q3 Weakness

Dixon Technologies continues its strong growth momentum, although Q3 is typically weaker compared to Q2. 


  • Revenue: ₹10,453 crore (vs ₹4,818 crore YoY, ₹11,534 crore QoQ)
  • EBITDA: ₹398 crore (⏫113% YoY)
  • PAT: ₹216 crore (vs ₹97 crore YoY, ₹230 crore QoQ)


Dixon's Q3 earnings are solid. It is not an out-of-the-world kind of result but a decent one. There is a sequential decline but solid YoY growth. Historically Q3 is weaker than Q2. But when a company trades at an 'out of the world' valuation, even a solid result is not enough! This is why 'buy at any price' does not work even for the high growth names.


Zomato: Facing Slowdown Amid Rich Valuations

Zomato's growth has slowed post-mid-November, yet the company still maintains strong revenue growth:


  • Revenue: ₹5,405 crore (vs ₹3,288 crore YoY, ⏫64%, ₹4,788 crore QoQ)
  • EBITDA: ₹162 crore (vs ₹51 crore YoY)
  • OPM: 3% (vs 1.6% YoY)
  • Quick Commerce: Post-EBITDA loss of ₹30 crore
  • PBT and PAT are down. PAT at ₹59 crore v/s ₹138 crore (YoY)
  • Blinkit: Crossed 1,000+ stores, ahead of target (target: 2,000+ stores by Dec 2025).


The food delivery giant's net profit took a hit as its margins remained under pressure, largely due to substantial expenses incurred in expanding new centers to support orders on its quick commerce platform, Blinkit.


The company’s strong management and solid position to overcome emerging competition in quick commerce make it a stock that will be closely tracked in the upcoming quarters.


Tejas Networks: Major Margin Compression

Tejas Networks reported a significant decline in margins, with weaker performance in Q3:


  • Revenue: ₹2,642 crore (vs ₹575 crore YoY, ₹2,811 crore QoQ)
  • PBT: ₹211 crore (vs loss YoY, ₹410 crore QoQ)
  • PAT: ₹166 crore (vs loss YoY, ₹275 crore QoQ)


A sharp drop in margins has led to weaker performance this quarter despite strong YoY revenue growth.


Mankind Pharma: One-Time Expense Impact

Mankind Pharma saw a drop in PAT due to acquisition-related expenses, but the company showed strong revenue growth and healthy EBITDA:


  • Revenue: ₹3,230 crore (vs ₹2,607 crore, ⏫24% YoY, ₹3,076 crore QoQ)
  • EBITDA: ₹907 crore (⏫34% YoY)
  • Finance Cost: ₹221 crore, Depreciation: ₹192 crore, Employee Expenses: ₹710 crore
  • PAT: ₹385 crore (vs ₹460 crore, down 16% YoY, ₹658 crore QoQ)


Despite the one-time expenses, Mankind is maintaining healthy growth and market share gains, with valuations still on the higher side.



As we wrap up our deep dive into Q3FY25 earnings across these diverse sectors, it’s clear that while growth stories continue to unfold, each company is navigating its own set of challenges. From record-breaking revenues to one-time expense impacts and margin squeezes, the quarter highlights the resilience and agility required to thrive in today’s dynamic market.


For investors, it's crucial to stay vigilant—paying attention to the potential for growth amidst high valuations, monitoring the impact of strategic decisions, and understanding the long-term outlooks of companies. As always, staying informed and making data-driven decisions will be key to identifying the next big opportunity.


We’ll continue to bring you the latest insights and updates on these companies and others making waves in the market. Until next time, keep analyzing and investing wisely!


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