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3QFY26 saw a significant improvement in earnings growth (adjusted for the Labour Code one-off impact) across all our portfolios. The Good & Clean Midcap Portfolio and Micro Marvels portfolio reported a strong comeback in YoY earnings growth at 32% and 36% in 3QFY26 vs -2% and 13% in 2QFY26; The Coffee Can portfolio reported 11% YoY earnings growth in 3QFY26 vs 15% in 2QFY26, excluding Bharti Airtel Limited, where earnings growth moderated to -1% in 3QFY26 vs 65% in 2QFY26 led by higher depreciation in its African operation (EBITDA growth though was strong at 55% YoY in 3QFY26 vs 35% in 2QFY26).
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