Q3 FY26 Results Snapshot: Axis Bank, Bharti Airtel & Bajaj Finance — Key Factors, CMP, Fundamentals + Technical View
If you’re tracking Q3 FY26 results (quarter ended 31 Dec 2025), these three names—Axis Bank, Bharti Airtel, and Bajaj Finance—cover three big market themes in one go: credit cycle + deposit costs, ARPU-led telecom growth + capex, and consumer lending scale + credit cost direction.
Below is a reader-friendly, blog-ready breakdown with what mattered most in Q3, what management hinted, fundamental signals, and a clean technical checklist you can use while watching these stocks.
Latest CMP
(Prices shown from market sources around Feb 6, 2026)
Axis Bank CMP: ~₹1,341.60
Bharti Airtel CMP: ~₹2,038.40
Bajaj Finance CMP: ~₹981.70
1) Axis Bank Q3 FY26 Results — What Investors Actually Watched
Axis Bank’s Q3 print was mainly about steady margins, controlled costs, and asset quality comfort—with the market also watching deposits and CASA mix closely.
Q3 FY26 headline numbers (Quarter ended 31 Dec 2025)
Net Profit: ₹6,490 crore (up ~3% YoY)👉axis.bank
NII: ₹14,287 crore (up ~5% YoY)
NIM: 3.64%
Operating profit: ₹10,876 crore
Asset quality: GNPA 1.40%, NNPA 0.42% (reported)
Deposits: up 15% YoY; CASA share 39%
Advances: up 14% YoY
What drove the quarter (key factors)
Core earnings held firm: NII growth and stable margin (3.64%) gave comfort in a rate/competition environment.
Fees supported revenue quality: Fee income grew meaningfully YoY and supported non-interest income.
Asset quality stayed in control: headline GNPA/NNPA improved vs previous quarter (reported).
Management / Business commentary cues (what it signals)
Axis has been pushing deposit granularisation and customer deepening, with the investor deck highlighting ongoing focus on quality of deposits and growth relative to the industry.
Fundamentals quick-view (for “Axis Bank fundamentals” searches)
From fundamental snapshot sources:
P/E: ~15.9 👉screener
ROE: ~16.3%
Book Value: ~₹662
(Use these as quick reference points; they move over time.)
Technical view (simple, non-confusing)
Axis is trading closer to its 52-week high zone (high ~₹1,418; low ~₹978).
What traders usually watch next: whether the stock holds above key “round-number” zones and whether pullbacks see buying interest (especially after results-driven spikes).
2) Bharti Airtel Q3 FY26 Results — ARPU Strength, Strong EBITDA, Profit Drop Explained
Airtel’s Q3 narrative is growth + profitability strength at operating level, while reported profit optics can look noisy depending on costs/exceptionals. The cleaner lens is: revenue, EBITDA, ARPU, and cash/deleveraging direction.
Q3 FY26 headline numbers (Quarter ended 31 Dec 2025)
Total revenue: ₹53,982 crore (up ~19.6% YoY) 👉assets.airtel
EBITDA: ₹31,144 crore; EBITDA margin 57.7%
India revenue: ₹39,226 crore (up ~13.2% YoY)
Mobile ARPU: ₹259 (vs ₹245 YoY)
Net income (before exceptional items): ₹6,920 crore
Capex (quarter): ₹11,787 crore
Note: Some news reports highlighted a YoY decline in consolidated net profit; always read that alongside the company’s “before exceptional items” metric and cost/capex context.
What drove the quarter (key factors)
ARPU momentum stayed strong: ₹259 is a key “quality growth” marker and helps both revenue and operating leverage.
Operating strength visible: EBITDA grew 25%+ YoY with healthy margins.
Homes business traction: strong customer adds and growth momentum were called out.
Management briefing (what they emphasized)
Gopal Vittal’s statement underlined:
Resilient portfolio
Africa strong performance
India mobile sequential growth
Homes business hitting strong run-rate
Deleveraging + balance sheet strength enabling future investments
Fundamentals quick-view (for “Airtel valuation” searches)
Airtel is a high-quality compounder story for many investors, but valuation metrics vary by data provider and can move quickly. For CMP reference around Feb 6: ~₹2,038.4.
Technical view
Airtel has traded in a wide 52-week band (high/low visible on market trackers).
Watchlist idea: price behaviour after results + how it reacts near previous swing zones (buyers defending dips vs momentum fading).
3) Bajaj Finance Q3 FY26 Results — Scale, AUM Growth, Credit Cost Direction
Bajaj Finance is the “execution stock” many readers track because it blends distribution + cross-sell + underwriting. In Q3, the big talking points were NII growth, customer adds, and improving portfolio signals.
Q3 FY26 operational + financial highlights (Quarter ended 31 Dec 2025)
From the company presentation highlights:
NII: ₹11,317 crore (up ~21% YoY) 👉bsmedia
Net Total Income: ₹13,875 crore (up ~19% YoY)
Loan losses & provisions: ₹3,625 crore (with detail on accelerated ECL)
GNPA / NNPA: 1.21% / 0.47% (as of 31 Dec 2025)
Customer franchise: 115.40 million (as of 31 Dec 2025)
Cost of funds: 7.45% (Q3) and guidance range mentioned for FY26
Capital adequacy: 21.45%; Tier-1 20.60%
What drove the quarter (key factors)
Healthy income engine: 20%+ YoY NII growth is the cleanest “core strength” signal.
Portfolio quality narrative improved: presentation notes improvement in vintage performance and optimism around credit cost outlook.
Efficiency + tech angle: the deck explicitly talks about AI implementation accelerating to improve operating efficiencies.
Management tone (what it implies)
When a lender starts talking about improving portfolio outlook and better vintage behaviour, markets typically look for confirmation in the next 1–2 quarters via stable GNPA/NNPA + moderating credit costs.
CMP & technical view
CMP around Feb 6: ~₹981.7, and one market report noted the close at ₹981.65 that session.
52-week range context (for investor sanity check) is visible on market trackers.
Quick Comparison — “Who looked strongest in Q3 FY26?”
Axis Bank
Steady + clean: stable margins, controlled asset quality, improving comfort around deposits and credit costs.
Bharti Airtel
Growth + operating muscle: ARPU and EBITDA show strength; profit optics need to be read with “before exceptional items” and cost/capex context.
Bajaj Finance
Scale + improving credit tone: strong NII growth, huge customer franchise, and improving portfolio quality commentary.
FAQs
Q1) Which stock looked most “stable” in Q3 FY26—Axis Bank, Airtel, or Bajaj Finance?
If you want stability, Axis Bank’s quarter reads cleanest because the key banking markers—NII, NIM, and asset quality—were steady.
Q2) Why did Airtel’s profit headline look weaker even though revenue and EBITDA rose?
Because telecom earnings can get impacted by higher costs, spectrum/statutory charges, and exceptional items—so it helps to track EBITDA and net income before exceptional items as well.
Q3) What is the single most important number to track for Airtel after Q3?
ARPU. Airtel reported ₹259, and that number often drives the market’s confidence on pricing power and monetization.
Q4) Is Bajaj Finance’s asset quality still healthy?
The presentation shows GNPA 1.21% and NNPA 0.47% as of 31 Dec 2025, and commentary suggests improving outlook on credit costs.
Q5) What should long-term investors track in Axis Bank after results?
Track deposit growth, CASA mix, NIM, and whether asset quality stays steady across quarters—these typically decide rerating.
Q6) What’s a practical way to use this Q3 results info for investing?
Use Q3 as your “base quarter,” then watch the next 1–2 quarters for consistency:
Axis: NIM + slippages
Airtel: ARPU + EBITDA + capex discipline
Bajaj Finance: credit costs + GNPA/NNPA trend
👉Further reading
Disclaimer:
This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Readers are advised to conduct their own research or consult a certified financial advisor before making any investment decisions.