Market Brief: Large-Cap Turnaround Momentum The Indian equity landscape is witnessing a significant structural shift as several high-profile companies transitioned from net losses to profitability in the quarter ending **December 2025**. This "Turnaround Story" highlights a broader trend of operational efficiency and debt reduction across key sectors. Major Turnaround Highlights Seven notable companies from the **Nifty 500** index reported a decisive return to the black. These transitions are marked by substantial swings in their bottom-line figures compared to the same period in the previous year. **Paytm (One97 Communications)** The fintech leader reported a consolidated net profit of **₹225 crore** for the December quarter. This stands in sharp contrast to a net loss of **₹208 crore** recorded in December 2024. The recovery was fueled by a **20%** year-on-year growth in revenue, reaching **₹2,194 crore**, and a surge in merchant device subscriptions. **DLF Limited** India’s largest real estate developer posted a standalone net profit of **₹296 crore**, overturning a loss of **₹166 crore** from a year ago. A key driver was the generation of **₹3,876 crore** in surplus cash, allowing the firm to reach its strategic goal of **zero gross debt**. **CreditAccess Grameen** The microfinance major delivered a net profit of **₹252.09 crore**, a massive leap from the **₹99.52 crore** loss reported in the prior year's corresponding quarter. Key Financial Indicators The overall large-cap segment has shown resilience despite global volatility. As of **February 2026**, profit growth for large-cap firms averaged **8.7%**, while the broader market indices like **Nifty 50** maintained a steady **10.6%** return over the past year. * **Market Indices:** The Sensex is currently trading near **82,626**, while the Nifty 50 holds at approximately **25,471**. * **Volatility:** The India VIX, a gauge of market fear, recently rose to **13.53**, reflecting slight near-term caution among investors. * **Sector Performance:** While IT and Metals faced pressure in early **February 2026**, the Financial Services and Consumer Durables sectors have provided vital support to the benchmarks. Emerging Profitable Giants Beyond the primary turnaround list, new-age companies are hitting critical profitability milestones. **Lenskart** reported a net profit of **₹131 crore**, a massive jump supported by a **38%** rise in revenue. Similarly, **Zomato’s** quick commerce and Hyperpure segments turned EBITDA positive, contributing to a total profit after tax of **₹102 crore** for the quarter. The trend reflects a "structural reset" where firms are prioritizing cost management and sustainable margins over aggressive, loss-making expansion. This shift has reinforced investor confidence, with domestic institutional buying reaching a record high of over **₹7.8 trillion** in the recent cycle.