Global Capital Markets Limited has filed its unaudited financial results for the third quarter of FY26 ended December 31, 2025, with stock exchanges in compliance with Regulation 33 of SEBI LODR Regulations, 2015. The results were approved by the Board of Directors in their meeting held on February 9, 2026, under the chairmanship of I.C. Baid.

Financial Performance Overview

The company demonstrated solid financial performance during Q3FY26, reporting a net profit of ₹45.04 lakhs compared to a loss of ₹185.63 lakhs in the corresponding quarter of the previous year. Total revenue from operations reached ₹74.74 lakhs for the quarter, comprising interest income of ₹54.84 lakhs, dividend income of ₹0.21 lakhs, and revenue from sale of shares of ₹19.69 lakhs.

Revenue Components and Operational Details

The company's revenue structure reflects its focus on financial services and investments. Interest income contributed ₹54.84 lakhs during Q3FY26, while revenue from sale of shares added ₹19.69 lakhs to the quarterly performance. For the nine-month period, total revenue from operations stood at ₹252.83 lakhs, with interest income contributing ₹162.15 lakhs and revenue from share sales adding ₹89.90 lakhs.

Expense Management and Profitability

Total expenses for Q3FY26 were controlled at ₹30.99 lakhs, significantly lower than ₹224.56 lakhs in the corresponding previous quarter. Key expense components included employee benefits expenses of ₹14.84 lakhs, other expenses of ₹11.71 lakhs, and changes in inventories of ₹3.29 lakhs. The company maintained minimal finance costs at ₹0.10 lakhs during the quarter.

Comprehensive Income and Balance Sheet Position

Total comprehensive income for Q3FY26 reached ₹66.27 lakhs, including other comprehensive income of ₹21.23 lakhs primarily from fair value changes on financial instruments. The company maintains a paid-up equity share capital of ₹3,982.96 lakhs with face value of ₹1 per share. Other equity stood at ₹652.57 lakhs as of December 31, 2025.

Regulatory Compliance and Auditor Review

The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) 34 for interim financial reporting. M/s Maheshwari & Co., Chartered Accountants, conducted a limited review of the results. The auditors noted that the company operates within a single business segment of "Finance & Investments" as per Ind AS 108. However, they highlighted concerns regarding interest income recognition on outstanding advances and loans amounting to ₹9,64,61,294, where sufficient documentation was not provided to determine appropriate interest rates.

Global markets are bracing for an exceptionally eventful week as January's volatile start continues, with investors preparing for a convergence of political developments, monetary policy decisions, and corporate earnings that could significantly impact market sentiment.

Davos Takes Center Stage

The World Economic Forum in Davos will command global attention from January 19-23, bringing together political leaders, central bankers, business executives, and technology leaders. The anticipated in-person attendance of U.S. President Donald Trump has elevated the stakes for discussions around geopolitics, trade policy, and economic strategy. Market participants will closely monitor any signals from Washington that could influence global risk sentiment, while artificial intelligence is expected to feature prominently in both formal sessions and informal discussions.

Federal Reserve Independence Under Scrutiny

A critical legal confrontation awaits in the United States as the Supreme Court prepares to hear a case linked to Trump's attempt to remove Federal Reserve Board member Lisa Cook. This development raises broader concerns about political pressure on the central bank and comes amid heightened scrutiny of the Fed following legal action involving outgoing chair Jay Powell. The case could test the boundaries of Federal Reserve independence, adding uncertainty for markets that remain highly sensitive to interest rate expectations.

Japan's High-Stakes Political Gamble

Japan faces a pivotal moment as Prime Minister Sanae Takaichi moves toward calling a snap election, despite her party's struggles in opinion polls. Markets have responded positively to the prospect, betting that an expanded parliamentary mandate could enable substantial fiscal stimulus measures. The political developments have driven Japanese equities to record highs while weakening the yen and longer-dated government bonds. However, the political drama may overshadow the Bank of Japan's policy meeting, where no immediate interest rate changes are widely expected following last month's hike.

China's Economic Performance in Focus

China will release fourth-quarter and full-year gross domestic product data, with expectations that Beijing has achieved its growth target supported by resilient exports despite ongoing trade tensions with the United States. The country posted a record trade surplus in 2025, highlighting the role of overseas demand in supporting economic growth. However, investors remain cautious about persistent challenges from the prolonged property downturn and subdued domestic consumption. Additional data on house prices and retail sales will provide crucial insights into the need for further policy support.

Corporate Earnings Momentum Builds

The U.S. earnings season gains momentum with major companies across technology, healthcare, and manufacturing sectors preparing to report results. Key reports from Netflix, Johnson & Johnson, and Intel are expected to shape market sentiment as investors seek guidance on demand trends and profit margins. While bank earnings have delivered mixed results to start the season, forward-looking commentary from corporate leaders will be critical in sustaining optimism built on expectations of stronger earnings growth in 2026.

With geopolitical tensions, central bank independence questions, electoral uncertainty, and corporate performance all converging simultaneously, this week presents markets with substantial challenges and opportunities that will likely set the tone for the remainder of January.