How to Read Quarterly Results of Indian Companies — A Complete Beginner's Guide (2026)
Learn how to analyse quarterly results of Indian listed companies step by step. Understand revenue, net profit, EPS, OPM, and what each line item means for your stock investments.
Why Quarterly Results Matter
Every 90 days, publicly listed companies in India are required by SEBI to publish their financial performance. These quarterly results are the single most important source of truth for any stock investor. They tell you whether a company is growing, stagnating, or declining — and they move stock prices dramatically.
Yet most retail investors in India either ignore quarterly results completely or don't know how to read them. If you're one of them, this guide will change that forever.
Where to Find Quarterly Results
Quarterly results are filed with both stock exchanges — NSE and BSE — and published on the company's investor relations page. On UpMyFolio, we automatically fetch, parse, and display quarterly results for 2,000+ Indian companies in a clean, easy-to-read format with year-over-year comparisons.
Simply search for any company on UpMyFolio, and you'll find the quarterly results table right on the company page.
Understanding the Key Line Items
Here's what each row in a quarterly result means, and what you should look for:
1. Revenue from Operations (Sales)
This is the money the company earned from its primary business — selling products or services. It does not include interest income, rental income, or one-time gains.
What to look for:
- Is revenue growing quarter-over-quarter (QoQ) and year-over-year (YoY)?
- Consistent 10-20% YoY growth in revenue is a strong positive signal.
- Sudden drops could indicate demand weakness or seasonal effects.
2. Other Income
This includes income from sources other than the core business — such as interest on deposits, rental income, or gains from selling investments. While it boosts the bottom line, high other income relative to revenue is a red flag because it's often unsustainable.
3. Total Expenses
This is the sum of all costs the company incurred:
- Employee Cost — salaries, benefits, ESOP expenses
- Cost of Materials / Cost of Goods Sold — raw material costs for manufacturers
- Depreciation — non-cash charge for asset wear and tear
- Finance Cost (Interest) — interest on borrowings
- Other Expenses — administrative, marketing, and miscellaneous costs
4. Operating Profit & OPM (Operating Profit Margin)
Operating Profit = Revenue - Operating Expenses (excluding other income, interest, depreciation, and tax)