Gujarat Lease Financing Limited (GLFL) has released its unaudited financial results for the quarter ended December 31, 2025, showing continued profitability despite ongoing structural challenges. The company reported a profit of ₹2.78 lakhs for Q3 FY26, marking an improvement from the previous quarter while remaining below prior year levels.

Q3 FY26 Financial Performance

The company's quarterly profit of ₹2.78 lakhs represents a 31.13% increase from the previous quarter's ₹2.12 lakhs, though it remains 44.62% lower than the ₹5.02 lakhs profit recorded in the corresponding quarter of the previous year. Total income remained relatively stable at ₹10.65 lakhs, derived entirely from other income sources as the company continues to have no revenue from operations.

Nine-Month Performance Overview

For the nine-month period ended December 31, 2025, GLFL recorded a loss of ₹0.96 lakhs compared to a profit of ₹1.31 lakhs in the corresponding period of the previous year. This shift to loss territory reflects higher expenses of ₹32.65 lakhs against relatively stable income of ₹31.69 lakhs.

Expense Analysis

The company's expense structure for Q3 FY26 shows mixed trends across categories:

Employee benefits expense increased to ₹3.36 lakhs from ₹2.92 lakhs in the previous quarter, while legal and professional fees decreased to ₹0.44 lakhs. The absence of listing and custodian fees in Q3 FY26, compared to ₹1.02 lakhs in Q2 FY26, contributed to the overall expense reduction.

Ongoing Financial Distress

Despite quarterly profitability, GLFL's fundamental financial challenges persist. The company's accumulated losses continue to exceed its net worth, and total liabilities surpass total assets. As highlighted in the auditor's limited review report, the financial statements have been prepared on a non-going concern basis, with financial assets stated at their realizable value or cost, whichever is lower.

The company maintains no business plan and does not intend to engage in any business activity in the near future. This strategic vacuum, combined with the structural financial imbalances, continues to raise questions about the company's long-term viability and operational direction.

Board Meeting and Regulatory Compliance

The Board of Directors approved these unaudited financial results in their meeting held on January 19, 2026. The meeting commenced at 12:30 PM and concluded at 01:05 PM. The results have undergone limited review by statutory auditors G.K. Choksi & Co., Chartered Accountants, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted the results to both BSE Limited (Scrip Code: 500174) and National Stock Exchange of India Limited (Scrip Symbol: GLFL).