Vikram Solar’s Q3 FY26 PAT Jumps YoY, Declines Sequentially

Indian solar module manufacturer Vikram Solar today announced its financial results for the third quarter (Q3) and for the nine months of the current fiscal. The latest financial results showed a sharp increase in net profit of the firm on a Year-on-Year (YoY) basis while reporting a decline in net profit on a Quarter-on-Quarter (QoQ) basis. 

Net Profit On The Rise 

The company reported a net profit of Rs 98.15 crore in the third quarter of Q3 the ongoing financial year (FY26). This was a steep rise from the PAT the West Bengal-based firm had reported in the Q3 of FY25, which stood at ₹19.02 crore. This led to a year-on-year (YoY) jump of Rs 79.13 crore, a 416% jump. This increase in the net profit of the firm. 

However, on a quarter-on-quarter basis, the company's net profit declined from Rs 128.49 crore in Q2 FY26, reflecting a drop of 23.6%. The QoQ decline in profit suggests pressure on margins or higher costs during the quarter, even as revenues remained largely stable.

The company also shared the details of the earnings of the firm during the nine months of FY26. For the nine-month period ended December FY26, Vikram Solar's net profit stood at ₹360.00 crore. This was in comparison to Rs 49.22 crore in 9M FY25, marking a substantial increase of ₹310.78 crore, or over 630% YoY. 

Revenue Trends

On the revenue front, Vikram Solar reported ₹1,105.9 crore in Q3 FY26, up from ₹1,026.0 crore in Q3 FY25, representing a YoY increase of ₹79.9 crore, or 7.8%.

Sequentially, revenue remained largely flat, easing marginally from ₹1,109.9 crore in Q2 FY26, a decline of just ₹4.0 crore, or 0.4%, indicating stable order execution despite broader market fluctuations.

For the nine-month period, revenue rose sharply to ₹3,349.4 crore in 9M FY26, compared with ₹2,229.9 crore in the corresponding period last year. This reflects an increase of ₹1,119.5 crore, or 50.2% YoY, pointing to a significant scale-up in operations.