Lesson 04 — Quarterly vs Annual Results

Week 03 · Lesson 4 of 5 · Week 03 — Financial Statements Intro

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Indian listed companies report results every quarter (3 months) and publish full annual results. | Type | Frequency | Detail level | |||| | Quarterly | Every...

Two reporting cycles

Indian listed companies report results every quarter (3 months) and publish full annual results.

Type Frequency Detail level
Quarterly Every 3 months (Q1-Q4) Limited P&L — no full Balance Sheet
Annual Once a year (FY ends March 31) Full P&L + Balance Sheet + Cash Flow + Notes

Quarter naming convention

Indian fiscal year runs April → March:

Quarter Period InvestingSamjho ID
Q1 Apr – Jun Q1FY24-25
Q2 Jul – Sep Q2FY24-25
Q3 Oct – Dec Q3FY24-25
Q4 Jan – Mar Q4FY24-25

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"FY matlab Financial Year — April se March tak."

What to look for in quarterly results

  • Revenue growth — YoY (vs same quarter last year) and QoQ (vs previous quarter)
  • Profit growth — is the company making more money?
  • Margins — is profit keeping up with revenue?
  • Management commentary — what are they saying about the future?

YoY is better than QoQ

Many businesses are seasonal (e.g. AC companies sell more in summer). Always compare Q2 this year vs Q2 last year, not Q2 vs Q1.

On InvestingSamjho

In the Screener, you can filter by:

  • periodType: quarterly or periodType: annual
  • This chooses which table to query

Key takeaway

Use quarterly results for recent trends. Use annual results for the full picture (includes Balance Sheet and Cash Flow).