Rubicon Research (RUBICON) Q3 25/26 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved by the Board and reviewed by statutory auditors.

• The company completed a successful IPO in the quarter, raising ₹13,775 million and listing on NSE and BSE on October 16, 2025.

Financial highlights

• Consolidated revenue from operations for Q3 FY26 was ₹4,755.29 million, up from ₹3,133.96 million in Q3 FY25; nine-month revenue was ₹12,400.41 million, up from ₹9,261.25 million year-over-year.

• Consolidated net profit after tax for Q3 FY26 was ₹727.97 million, compared to ₹380.73 million in Q3 FY25; nine-month net profit was ₹1,699.50 million, up from ₹981.16 million year-over-year.

• Standalone revenue for Q3 FY26 was ₹3,017.11 million, with net profit after tax of ₹371.81 million; nine-month standalone net profit was ₹1,181.45 million.

• Basic EPS (consolidated) for Q3 FY26 was ₹4.46, up from ₹2.50 in Q3 FY25; nine-month EPS was ₹10.82, up from ₹6.45 year-over-year.

• Research and development expenditure for the nine months was ₹1,379.24 million (consolidated).

Outlook and guidance

• The company is focused on utilizing IPO proceeds for debt repayment and strategic growth, with significant unutilized funds earmarked for future acquisitions and initiatives.

• Management believes the impact of new Indian Labour Codes has been recognized and accounted for in employee benefits.