Q3 Results 2025: EaseMyTrip profit drops by 26.33%; GSK Pharma profit surges 402.80%

Elara Securities said, “Hindustan Aeronautics (HNAL IN) revenue saw a positive surprise in Q3FY25, likely driven by delivery of trainer aircraft and helicopters. The company expects 12 Tejas Mk1A aircraft to be delivered by FY26. But our checks with suppliers indicate possible headwinds to this target.

We reduce our EPS by 6% each in FY25E and FY26E to factor in further delay in delivery of Tejas Mk 1A aircraft. We lower our TP to INR 5,160 from INR 5,465 on 40x (from 42x) December FY26E P/E due to delayed delivery. However, we retain Buy, due to robust order visibility led by rising share of indigenization with unexplored exports opportunity in the aircraft & helicopter industry, which is positive for HNAL in the long term. We expect an earnings CAGR of 14% during FY24-27E with a 23% ROE during FY25-27E.”

During this quarter, total hotel night bookings stood at 2.5 lakh, marking a 172% YoY increase, while other bookings grew by 32% to 3.6 lakh. EaseMyTrip’s Dubai operations have recorded significant growth, with Gross Booking Revenue reaching Rs 170.50 crore in Q3FY25, reflecting a 227% year-on-year increase from Rs 52.20 crore in Q3FY24. This performance underscores the company’s ability to capitalize on international market opportunities, particularly in Dubai. Strengthening its presence in key global markets remains a priority as we continue to focus on expanding our reach and driving longterm growth.

Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said, “Our strong third-quarter results reflect our unwavering commitment to deliver innovative healthcare solutions to patients across India. By focusing on core brands and accelerating digital transformation through innovative go to-market strategies, we continue to strengthen our market presence while ensuring broader access to our medicines and vaccines.”

Vivek Chaand Sehgal, Chairman, Motherson, said, “Our performance demonstrates the resilience and adaptability of our diversified business model. Our engineering, manufacturing and assembly capabilities will help us navigate challenges while delivering future growth. I am pleased to announce that our first plant for the consumer electronics business has been operationalised during the quarter, which will further strengthen our non-automotive businesses. We remain focused on maintaining a strong balance sheet with control on capex and leverage ratio.”

Tanmaya Das, Chief Financial Officer, RateGain Travel Technologies, said, "With a continued focus on operational excellence and sustainable growth, the company has achieved a record EBITDA margin of 22.1%. Our structured approach has enabled us to meet key operating metrics, driving margin expansion as we leverage the benefits of scale. We’re seeing steady growth in key geographies, and with a strong pipeline, we remain committed to scaling our newly launched products and strengthening relationships with key clients. As the global environment stabilizes and investment prospects in the sector improve, we are confident in our ability to capture these opportunities and deliver greater value to our customers."

- Total Revenue: Rs 871.90 crore, up 20.8% YoY

- Operating Revenue: Rs 815.98 crore, up 16.4% YoY

- EBITDA: Rs 171.47 crore, up 26.6% YoY

- PAT: Rs 154.12 crore, up 61.6% YoY

- EBITDA Margin: 21.0% vs 19.3%

- PAT Margin: 18.9% vs 13.6%

Elara Securities said, “Eureka Forbes (EUREKAFO IN) witnessed healthy performance across segments, led by growth in the products segment despite muted consumer demand during the quarter. The overall products segment posted volume growth in the mid-teens, led by higher ad spend, new launches and successful buyback campaign during the festival season. This helped drive operating leverage benefits. We lower our TP to Rs 660 on 40x December FY26E P/E, in line with the average consumer durables industry P/E. We retain Buy as the low penetration rate of water purifiers and market leadership position makes EUREKAFO a compelling choice in the consumer durables industry.”

InCred Equities said, “Ipca Laboratories’ (Ipca) QF3Y25 performance was in line on the revenue front, with a beat on profitability (EBITDA/PAT above 4%/9% vs. our estimates, respectively). India business registered its eighth consecutive quarter of double-digit growth (12.5% YoY), higher than industry growth (7.4% YoY). However, export business was muted (6% growth); generics business declined 11% YoY (South Africa business impacted due to the loss of tender, supply constraints in Australia/New Zealand); UK business improved in Q3 and is likely to grow by 15-17% in FY26F. Branded business rebounded well (+53% YoY on a low base/+12% QoQ). Institutional business declined by 3% YoY/ 34% QoQ. The business has around Rs 400m exposure to USAID and Ipca is assessing the likely impact of funding closure. Margin stood at 20.6% (120bp above estimate) while subsidiary Unichem had a solid margin of 16% (our estimate of 14%). Ipca’s base business margin rose by 120bp QoQ to 20.9% led by gross margin growth due to lower raw material costs (down 5%).”

Today, companies including Parle Industries, Easy Trip Planners, Bajaj Consumer Care, Aditya Birla Fashion & Retail, Swiss Military Consumer Goods, Glenmark Pharma, GlaxoSmithKline Pharmaceuticals, Ethos, Rail Vikas Nigam, PTC Industries, Puravankara, Zen Technologies, Uflex, Jagatjit Industries, Samvardhana Motherson International, and several others are lined up to announce their Q3 results.