Q4FY26 earnings: Airtel, Tata Motors, Cipla key numbers

A busy Q4FY26 results day

India’s March-quarter earnings calendar for May 13 featured a long list of companies, with telecom, autos, pharma, oil marketing and financials all reporting key updates. Bharti Airtel, Tata Motors, Cipla, Hindustan Petroleum Corporation Ltd (HPCL), TVS Motor Company and Power Finance Corporation (PFC) were among the most tracked names. Investors looked beyond headline profit numbers to margins, segment performance, and dividend announcements. Some companies also published region-wise revenue splits and operating metrics that helped explain quarter-to-quarter shifts. Market participants also tracked how results compared with estimates, especially in sectors where input costs and pricing remain sensitive.

Bharti Airtel: profit up QoQ, down YoY; ARPU rises

Bharti Airtel reported consolidated net profit of Rs 7,325 crore for Q4FY26. On a sequential basis, the live update snapshot showed profit rising 10% from Rs 6,631 crore and revenue increasing 3% to Rs 55,383 crore from Rs 53,982 crore. EBITDA was reported at Rs 31,492 crore versus Rs 30,783 crore, with margin at 56.9% versus 57%.

Year-on-year, the live updates also stated Airtel’s consolidated net profit fell 33.54% to Rs 7,325.1 crore from Rs 11,021.8 crore, even as revenue from operations increased 15.68% to Rs 55,383.2 crore from Rs 47,876.2 crore. Airtel’s mobile ARPU improved to Rs 257 from Rs 245 a year earlier, according to the same feed. Airtel also flagged India revenue growth of 7.7% year-on-year to Rs 39,566 crore.

The board recommended a final dividend of Rs 24 per fully paid-up equity share (face value Rs 5), with Rs 6 per partly paid-up equity share (paid-up value Rs 1.25).

Tata Motors: standalone profit jumps; dividend declared

Tata Motors posted a strong standalone profit print for Q4FY26, with net profit rising 69.6% year-on-year to Rs 2,406 crore from Rs 1,419 crore. Revenue from operations increased 22.3% to Rs 24,452 crore from Rs 19,999 crore. EBITDA rose 35.6% to Rs 3,307 crore from Rs 2,438 crore, while EBITDA margin improved to 13.5% from 12.2%.

The company’s board recommended a dividend of Rs 4 per share.

Cipla: profit drops sharply; region-wise picture mixed

Cipla reported a 54.6% year-on-year decline in consolidated net profit to Rs 555 crore from Rs 1,222 crore. Revenue decreased 2.8% to Rs 6,541 crore from Rs 6,730 crore. EBITDA fell 37.9% to Rs 955 crore from Rs 1,538 crore, and EBITDA margin dropped to 14.6% from 22.8%.

The live blog also highlighted that Cipla’s Q4FY26 profit and operating performance came in below estimates cited in the feed. On revenue geography, North America revenue was reported down 26% to Rs 1,414 crore, while South Africa revenue rose 33% to Rs 984 crore. Emerging Markets and Europe revenue was down 9% to Rs 819 crore, while India revenue increased 15% to Rs 3,007 crore. R&D investment was reported at Rs 509 crore, equal to 7.8% of sales.

HPCL: profit beats estimates; GRM and throughput disclosed

HPCL’s Q4FY26 net profit was reported up 20.4% quarter-on-quarter at Rs 4,902 crore versus Rs 4,073 crore. Revenue was marginally lower at Rs 114,000 crore versus Rs 115,000 crore. EBITDA rose 27.9% to Rs 8,978 crore from Rs 7,019 crore, with EBITDA margin at 7.8% versus 6.1%.

The live feed said profit beat the estimate cited in the blog, with EBITDA also above the estimate referenced there. HPCL disclosed a gross refining margin (GRM) of $14.27 per barrel and throughput of 6.43 MMT for the quarter. Separately, the live update noted HPCL ended over 5.5% higher after results.

TVS Motor: profit up, margin lower

TVS Motor Company reported standalone net profit up 31.1% year-on-year at Rs 998 crore versus Rs 761 crore. Revenue increased 34.1% to Rs 12,808 crore from Rs 9,550 crore. EBITDA grew 26.3% to Rs 1,680 crore from Rs 1,330 crore, while EBITDA margin softened to 13.1% from 13.9%.

The live feed also noted that TVS Motor shares declined on missing estimates slightly, as raw material costs offset demand strength.

PFC and other notable earnings updates

Power Finance Corporation reported Q4FY26 net profit up 10.8% year-on-year at Rs 7,000 crore versus Rs 6,316 crore, with total income down 1.5% to Rs 28,857 crore from Rs 29,285 crore. Another update in the feed reported consolidated Q4 profit at Rs 8,597.61 crore and revenue from operations at Rs 28,919.52 crore. The board recommended a final dividend of Rs 3.95 per share.

GlaxoSmithKline Pharmaceuticals reported net profit up 5.7% year-on-year at Rs 278 crore and revenue up 2.1% at Rs 995.3 crore, with a dividend of Rs 57 per share. Tube Investments of India posted net profit of Rs 85.5 crore, up 83.9% year-on-year, on revenue of Rs 6,215 crore, up 20.7%, and announced a dividend of Rs 1.50 per share. Kirloskar Brothers reported net profit down 18.7% to Rs 112 crore, alongside a dividend of Rs 7 per share.

Key numbers at a glance

Market impact: what investors tracked through the day

Across the results, the market focus stayed on a few recurring themes. For telecom, Airtel’s ARPU improvement to Rs 257 was a key operating metric, even as investors reconciled the difference between sequential profit growth and the reported year-on-year decline. In autos, Tata Motors’ margin improvement to 13.5% and profit growth were central data points for quarter sentiment. In pharma, Cipla’s sharp margin compression to 14.6% and a mixed regional revenue performance shaped investor attention.

Oil marketing results often hinge on refining and marketing conditions, and HPCL’s reported GRM of $14.27 per barrel and higher EBITDA were closely watched. The live feed also flagged a strong stock reaction for HPCL, with the counter ending more than 5.5% higher. Two-wheeler watchers focused on TVS Motor’s revenue growth versus margin softness.

What to watch next

Several of these results were accompanied by dividends, which can influence near-term trading and shareholder focus. Conference calls and management commentary, where available, are expected to add detail on pricing, cost trends, capex and outlook. With multiple sectors reporting on the same day, investors typically compare margin trajectories and demand commentary across peers rather than treating each result in isolation.