In the latest reported period of Q1'26, APH recorded a Gross Margin of 36.7%, an Operating Margin of 24.04%, and a Net Profit Margin of 12.2%. This represents a sequential contraction across all three metrics compared to the preceding Q4'25. From Q2'23 to Q1'26, the company generally exhibited an upward trend in profitability, with Gross Margin peaking at 38.2% in Q4'25. However, the data reveals significant volatility in Q1'26, where the Net Profit Margin dropped to its lowest point in the series at 12.2%. While historical expansion was consistent through FY2025, the recent sharp decline suggests a potential shift in cost structure or bottom-line efficiency.