PSU Q3 FY26 Results: What to Expect from Power Grid, NTPC, SAIL & Bank of Baroda

New Delhi: Several frontline Public Sector Undertakings (PSUs) are in focus as investors track Q3 FY26 earnings, with expectations of stable to moderate growth across the power, banking, and steel sectors. Below is a clear comparison of expected performance and previous Q3 numbers, helping investors understand trends easily.

Power Grid Corporation of India (POWERGRID)

Expected Q3 FY26 Outcome:
Power Grid is expected to report modest earnings growth, supported by steady transmission revenues. Revenue may rise around 5% year-on-year, while net profit is likely to remain largely flat due to higher depreciation and financing costs. Investor focus will remain on asset capitalization and the progress of tariff-based competitive bidding (TBCB) projects.

Previous Q3 (FY25):
Revenue stood at ₹11,233 crore, down 3% year-on-year.
Net profit declined 4% year-on-year to ₹3,861.6 crore.

Also Read: NALCO Q3 FY26 Net Profit Rises 1% YoY to ₹1,601 Cr; Declares ₹4.50 Per Share Dividend

NTPC Limited

Expected Q3 FY26 Outcome:
NTPC is likely to post stable profit growth of around 5–6%, driven by ongoing capacity additions and consistent power demand. Updates on renewable energy expansion and commissioning timelines will be key for investors.

Previous Q3 (FY25):
Revenue increased 5.2% year-on-year to ₹45,053 crore.
Net profit declined marginally by 1.8% year-on-year to around ₹5,063 crore.

Steel Authority of India Limited (SAIL)

Expected Q3 FY26 Outcome:
SAIL is expected to return to profitability in Q3 FY26, aided by improved steel prices and the government’s safeguard duty on steel imports. While margins may improve, raw material and operational costs will remain key watchpoints.

Previous Q3 (FY25):
Revenue rose 5% year-on-year to ₹24,490 crore.
Net profit dropped sharply by 66% year-on-year to ₹141.89 crore.

Bank of Baroda

Expected Q3 FY26 Outcome:
Bank of Baroda is expected to deliver healthy earnings growth, supported by strong credit growth, stable margins, and improved asset quality. Non-interest income is also likely to contribute positively.

Previous Q3 (FY25):
Net profit increased 5.6% year-on-year to ₹5,214 crore.
Gross NPA improved to 2.43% from 3.08% a year ago.

Investor Outlook

Q3 FY26 expectations point towards steady performance across PSU stocks, with power and banking remaining resilient and early recovery signs visible in the steel sector. Long-term investors will continue to track policy support, capital expenditure momentum, and balance sheet strength.