PSU Earnings Preview: ITDC, HMT in Focus on Monday; Strong Q3 Trend Supports Sector

Mumbai: Several public sector undertakings (PSUs) will be in focus on Monday, February 9, as companies line up to announce their Q3 FY26 earnings, amid a strong profit growth trend already visible across major state-owned firms.

PSUs to Announce Q3 Results on Monday (Feb 9)

The following PSUs have scheduled board meetings on Monday to consider and approve their December quarter results:

India Tourism Development Corporation (ITDC)
ITDC reported a profit after tax (PAT) of ₹21 crore and revenue of ₹155 crore in Q3 FY25. Investors will look for continued earnings traction, supported by rising tourism demand and the company’s 162.5% profit growth over the last three years.

HMT Limited
HMT remains under financial pressure. The company posted a net loss of ₹39.08 crore in Q2 FY26, compared with a net loss of ₹51.28 crore in Q3 FY25. Markets will track whether losses narrow further or if there are early signs of operational improvement.

Also Read: Highest Dividend‑Yield PSU Stocks After Q3 FY26 Results — Top Income Picks

Strong PSU Earnings Set the Tone Ahead of Results

Several large PSUs that reported results ahead of this week delivered sharp year-on-year (YoY) profit growth, creating a positive backdrop for upcoming earnings:

PSU	Q3 FY26 Net Profit	Q3 FY25 Net Profit	YoY Growth
Indian Oil (IOCL)	₹12,126 Cr	₹2,873 Cr*	+322%
Hindustan Copper	₹156 Cr	₹63 Cr*	+148%
BPCL	₹7,188.4 Cr	₹3,803 Cr*	+89%
LIC of India	₹12,958 Cr	₹11,008.7 Cr	+17%
PFC	₹4,763 Cr	₹4,143 Cr*	+15%
Power Grid	₹4,160.2 Cr	₹3,895.2 Cr	+6.8%
Bank of Baroda	₹5,055 Cr	₹4,837.3 Cr*	+4.5%

*Derived from reported YoY growth figures.

The data underscores resilient earnings momentum in oil & gas, power financing, and metals, supported by healthy margins, steady demand, and balance-sheet strength.

Key PSU Results Later This Week

ONGC & Coal India (February 12):

Consensus expectations point to 8%–16% YoY profit growth, driven by stable production and cost discipline in the energy and mining sectors.

What Investors Should Watch

Sustainability of margins in oil marketing companies
Asset quality trends for PSU banks and power financiers
Management commentary and FY26 guidance
Turnaround signals from weaker PSUs such as HMT

With PSU earnings delivering broad-based resilience, market reactions are likely to be stock-specific, driven more by outlook and guidance than headline profit numbers.