Mumbai: Atul Ltd reported a 10.3 percent sequential decline in consolidated net profit to Rs 163.54 crore in Q3 FY26, even as revenue rose 1.4 percent to Rs 1,573.62 crore. Compared to Rs 182.37 crore profit in Q2 and Rs 117.10 crore in Q3 FY25, the company’s quarterly performance reflects a resilient YoY growth of nearly 40 percent, aided by strong operational gains across segments.
Solid YoY growth amid margin pressure
Atul Ltd delivered a robust year-on-year (YoY) revenue growth of 11.1 percent in Q3 FY26, climbing to Rs 1,573.62 crore from Rs 1,416.83 crore in Q3 FY25. Net profit surged 39.7 percent YoY to Rs 163.54 crore, up from Rs 117.10 crore. On a sequential basis, however, profit moderated from Rs 182.37 crore in Q2 FY26.
Revenue showed a marginal QoQ uptick from Rs 1,551.85 crore. This mixed quarterly trend was shaped by higher operating expenses and labour code-related provisioning.
Sequential growth moderates
Operating costs climbed 2.9 percent QoQ to Rs 1,410.06 crore in Q3 FY26 from Rs 1,370.25 crore in Q2, eating into margins despite revenue growth. A notable jump in employee benefit expenses (Rs 166.73 crore vs Rs 121.12 crore in Q2) was driven by a Rs 41.35 crore provision related to India's new labour codes.
Finance costs and depreciation remained stable. The bottom line was further impacted by higher tax outgo (Rs 39.94 crore) compared to Rs 48.91 crore last quarter.
Nine-month performance robust
For the nine months ended December 31, 2025, Atul Ltd posted consolidated revenue of Rs 4,603.47 crore, up 11.4 percent from Rs 4,131.71 crore in the same period last year. Net profit for 9M FY26 rose 29.7 percent YoY to Rs 478.27 crore.
This sustained momentum was backed by strong execution across key verticals, with the company maintaining a stable asset base and balanced segmental contributions.
Disclaimer: This report is based on publicly disclosed financial results by Adani Green. It is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell.
