The Profit & Loss (P&L) Statement, also called the income statement, shows a company’s revenues, expenses, and profits over a specific period. It helps investors understand how efficiently a company is operating and whether it’s profitable. This module breaks down each section: revenue, cost of goods sold (COGS), gross profit, operating expenses, and net income. We’ll also explain EBITDA, operating margin, and net profit margin — all crucial metrics for stock analysis. You’ll learn to analyze trends over quarters or years and compare them with competitors. Real examples from listed Indian companies are included to practice reading and interpreting P&L data. We’ll highlight the importance of consistent revenue growth, expense management, and bottom-line performance. Understanding the income statement allows you to make better decisions when choosing fundamentally strong stocks. It’s an essential tool for both value investors and traders looking at earnings momentum strategies.