Several major listed companies, led by top banking and financial stocks, announced their Q3 FY26 earnings on January 17, 2026. Investors closely tracked results from heavyweights such as HDFC Bank, ICICI Bank, Yes Bank, IDBI Bank, RBL Bank, UCO Bank, Punjab & Sind Bank, along with companies from other sectors including JK Cement and Netweb Technologies India.
With Indian equity markets closed on Saturday, the focus remained firmly on corporate earnings and management commentary, which are expected to guide market sentiment when trading resumes next week.
HDFC Bank Delivers Steady Growth in Q3
HDFC Bank reported a healthy performance for the December quarter, posting a net profit of ₹18,654 crore, up 11.5 per cent year-on-year. Net interest income grew 6.4 per cent to ₹32,615 crore, while total net revenue rose 8.9 per cent to ₹45,870 crore.
The bank’s deposit base expanded 11.6 per cent year-on-year to ₹28.60 lakh crore, with CASA deposits accounting for 33.6 per cent of total deposits. Gross advances increased 11.9 per cent to ₹28.45 lakh crore. Asset quality remained stable, with gross NPAs at 1.24 per cent and net NPAs at 0.42 per cent.
Separately, the bank also disclosed an estimated ₹800 crore impact on employee costs due to new labour codes notified in November 2025.
ICICI Bank Profit Slips on Higher Provisions
ICICI Bank reported a net profit of ₹11,318 crore for Q3FY26, marking a 4 per cent decline from the year-ago period. The dip came despite steady growth in core operations, as the bank made additional regulatory provisions mandated by the Reserve Bank of India.
Net interest income rose 7.7 per cent to ₹21,932 crore, while core operating profit increased 6 per cent to ₹17,513 crore. Asset quality improved, with the gross NPA ratio declining to 1.53 per cent and net NPA ratio at 0.37 per cent.
The bank’s board also approved the reappointment of MD and CEO Sandeep Bakhshi for another two-year term starting October 2026, subject to approvals.
Yes Bank Posts Strong Profit Surge
Yes Bank emerged as one of the standout performers this earnings season. The private lender reported a 55 per cent year-on-year jump in net profit to ₹952 crore for the December quarter, driven by lower credit costs, improved margins, and better asset quality.
Net interest margin expanded to 2.6 per cent, while gross NPAs improved to 1.5 per cent. The bank’s return on assets reached 0.9 per cent, reflecting steady progress since its reconstruction. Net advances grew 5.2 per cent to ₹2.57 lakh crore, while deposits rose 5.5 per cent to ₹2.92 lakh crore.
Mixed Performance from Other Banks
IDBI Bank reported a marginal increase in Q3FY26 net profit to ₹1,935 crore compared to ₹1,908 crore a year earlier. RBL Bank posted a lower-than-expected performance, reporting a net profit of ₹214 crore after absorbing a one-time charge related to new labour code provisions.
Punjab & Sind Bank, UCO Bank, and other PSU lenders announced their earnings later in the day, with investors closely tracking asset quality trends and credit growth outlooks
Updates from Non-Banking Companies
Outside the banking space, JK Cement, Netweb Technologies India, Can Fin Homes, Rossari Biotech, Prataap Snacks, and several small- and mid-cap companies were also scheduled to announce their December quarter results.
Netweb Technologies shares gained nearly 6 per cent ahead of earnings, while JK Cement rose close to 3 per cent on expectations of stable operating performance. On the other hand, Meyer Apparel reported wider losses as expenses continued to outweigh modest income.
Market Outlook
With a packed earnings calendar and mixed results across sectors, investors are expected to react selectively once markets reopen. Banking stocks, in particular, will remain in focus as asset quality trends, margin stability, and management commentary shape expectations for the remainder of FY26.
Overall, Q3FY26 results so far suggest resilience in core banking operations, even as regulatory provisions and cost pressures remain key factors to watch in the coming quarters.