Guide
What Is a Fiscal Year in India? (FY and Quarters Explained)
A fiscal year (or financial year) is the 12-month period a company uses for accounting and reporting. In India, the standard fiscal year runs from 1 April to 31 March — so "FY2025" (or FY2024-25) means April 2024 to March 2025.
How the quarters are numbered
- Q1 — April to June
- Q2 — July to September
- Q3 — October to December
- Q4 — January to March (the final quarter, reported with the full-year audited results)
This differs from the calendar year and from the US fiscal year, so be careful when comparing an Indian company's "Q1" against a foreign one's.
The non-March exceptions
Most Indian companies use a March year-end, but some (often multinational subsidiaries) follow a December or other year-end. Their "annual" result covers their own 12-month period, which won't line up with the April–March norm. This is why each financials row carries its own period_end_date — always trust that over an assumed March close.