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BASILIC FLY STUDIO Q2 FY27 results: net profit ₹7.30 crore, revenue up 13.7%
Basilic Fly Studio Ltd reported Q2 FY27 consolidated revenue of ₹107.40 crore, up 13.7% from the year-ago quarter, while net profit was ₹7.30 crore and basic EPS was ₹2.91. EBITDA rose to ₹22.50 crore and the margin was 20.9%, but profit before tax fell to ₹9.60 crore from ₹17.85 crore. On a standalone basis, revenue was ₹29.8 crore and profit after tax was ₹6.23 crore.
Key points
- Q2 FY27 consolidated revenue was ₹107.40 crore, up 13.7% from ₹94.49 crore in Q2 FY26 and ₹3.90 crore from ₹103.50 crore in Q1 FY27.
- EBITDA was ₹22.50 crore at a margin of 20.9%, up ₹3.94 crore from the year-ago quarter and 7.0 percentage points from Q1 FY27.
- Profit before tax was ₹9.60 crore, down ₹8.25 crore from ₹17.85 crore a year earlier, while net profit was ₹7.30 crore and basic EPS was ₹2.91.
- H1 FY27 revenue was ₹210.9 crore, up 11.4%, while profit before tax fell to ₹15.7 crore from ₹32.32 crore and EPS declined to ₹5.52 from ₹10.17.
- Total assets were ₹549.1 crore as of 30 September 2026, with equity of ₹358.7 crore, borrowings of ₹66.6 crore and cash of ₹43.4 crore.
How did BASILIC FLY STUDIO perform in Q2 FY27?
Basilic Fly Studio's consolidated revenue for the July–September 2026 quarter was ₹107.40 crore, against ₹94.49 crore in Q2 FY26 and ₹103.50 crore in Q1 FY27. EBITDA rose to ₹22.50 crore from ₹18.56 crore a year earlier, and the margin was 20.9% compared with 19.6% in Q2 FY26 and 13.9% in Q1 FY27. Profit before tax was ₹9.60 crore, down from ₹17.85 crore in the year-ago quarter but up from ₹6.20 crore in the previous quarter.
Net profit for the quarter was ₹7.30 crore, compared with ₹6.70 crore in Q1 FY27, and profit attributable to owners was ₹5.80 crore. Basic EPS was ₹2.91, against ₹5.97 in Q2 FY26 and ₹2.61 in Q1 FY27. On the standalone basis, revenue was ₹29.8 crore and profit after tax was ₹6.23 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 107.40 | 103.50 | 94.49 | +13.7% | +3.8% |
| Other income | −1.30 | 2.80 | 0.65 | ||
| Total expenses | 95.50 | 97.20 | 77.29 | +23.6% | −1.7% |
| EBITDA | 22.50 | 14.40 | 18.56 | +21.2% | +56.2% |
| EBITDA margin | 20.9% | 13.9% | 19.6% | +1.3 pp | +7.0 pp |
| Profit before tax | 9.60 | 6.20 | 17.85 | −46.2% | +54.8% |
| Tax | 2.30 | −0.50 | 3.15 | −27.0% | |
| Net profit | 7.30 | 6.70 | +9.0% | ||
| EPS (₹) | 2.91 | 2.61 | 5.97 | −51.3% | +11.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in BASILIC FLY STUDIO's costs and profit?
Total expenses rose by ₹18.21 crore, or 23.6%, to ₹95.50 crore from ₹77.29 crore in the year-ago quarter, exceeding the ₹12.91 crore increase in revenue. Employee cost was ₹67.40 crore, up ₹9.28 crore from ₹58.12 crore, finance costs were ₹2.10 crore, up ₹0.74 crore from ₹1.36 crore, and other expenses were ₹17.50 crore, up ₹1.48 crore from ₹16.02 crore. There was no exceptional item in Q2 FY26, against an exceptional charge of ₹1 crore in Q2 FY27.
Other income moved down by ₹1.95 crore, from ₹0.65 crore in Q2 FY26 to ₹1.30 crore in the quarter. Tax was ₹2.30 crore, down ₹0.85 crore from ₹3.15 crore. Against the previous quarter, employee cost fell ₹2.90 crore to ₹67.40 crore, finance costs fell ₹0.70 crore to ₹2.10 crore, other expenses fell ₹1.30 crore to ₹17.50 crore, and depreciation rose ₹3.20 crore to ₹8.50 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 67.40 | 58.12 | +9.28 | +16.0% |
| Finance costs | 2.10 | 1.36 | +0.74 | +54.4% |
| Other expenses | 17.50 | 16.02 | +1.48 | +9.2% |
| Total expenses | 95.50 | 77.29 | +18.21 | +23.6% |
| Other income | −1.30 | 0.65 | −1.95 | |
| Tax | 2.30 | 3.15 | −0.85 | −27.0% |
| Exceptional items | −1 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹210.9 crore, up 11.4% from ₹189.4 crore in H1 FY26, while total income was ₹212.3 crore against ₹190.53 crore. Profit before tax fell to ₹15.7 crore from ₹32.32 crore, and EPS declined to ₹5.52 from ₹10.17. Profit after tax for the half-year was ₹13.9 crore.
In its investor presentation, management said H1 FY27 consolidated PAT fell 47.5% year on year to INR 139 Mn and the PAT margin fell 732 Bps to 6.55%, despite 11.4% revenue growth. Management said operational EBITDA for the half-year declined 15.7%, and linked weaker margins to a lower-margin overseas revenue mix and depreciation following Q2 FY27 capitalisation.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 210.90 | 189.40 | +11.4% |
| Profit before tax | 15.70 | 32.32 | −51.4% |
| Net profit | 13.90 | ||
| EPS (₹) | 5.52 | 10.17 | −45.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹549.1 crore against ₹536.9 crore as of 31 March 2026, and total equity was ₹358.7 crore against ₹344.1 crore. Borrowings stood at ₹66.6 crore, up from ₹64.7 crore, while cash was ₹43.4 crore against ₹44.5 crore. Trade receivables were ₹145.6 crore, up from ₹138.2 crore, and trade payables were ₹6.0 crore against ₹23.6 crore.
For H1 FY27, operating cash flow was ₹2.8 crore, compared with a net outflow of ₹17.07 crore in H1 FY26. Investing cash flow was ₹2.7 crore against an outflow of ₹6.56 crore, and financing cash flow was a net outflow of ₹7.1 crore against an inflow of ₹93.32 crore. Capital expenditure was ₹6.1 crore, compared with ₹7.25 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 549.10 | 536.90 |
| Total equity | 358.70 | 344.10 |
| Borrowings | 66.60 | 64.70 |
| Cash and equivalents | 43.40 | 44.50 |
| Inventories | 0 | 0 |
| Trade receivables | 145.60 | 138.20 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 2.80 | −17.07 |
| Cash from investing | 2.70 | −6.56 |
| Cash from financing | −7.10 | 93.32 |
| Capital expenditure | 6.10 | 7.25 |
Source: Company's results filing (XBRL).
How has BASILIC FLY STUDIO done over the last 6 quarters?
Revenue rose across the last three reported quarters, from ₹103.50 crore in Q1 FY27 to ₹107.40 crore in Q2 FY27, after ₹113.40 crore in Q4 FY26. The recent low in the series was ₹94.49 crore in Q2 FY26, while the highest was ₹228.07 crore in Q4 FY25. The direction now is higher on both revenue and profit, with net profit at ₹7.30 crore against ₹6.70 crore in Q1 FY27.
The EBITDA margin reached 21.1% in Q4 FY26 before falling to 13.9% in Q1 FY27 and recovering to 20.9% in Q2 FY27. Profit after tax was ₹15.4 crore in Q4 FY26, fell to ₹6.7 crore in Q1 FY27 and rose to ₹7.3 crore in Q2 FY27.
What else did the company announce?
Basilic Fly Studio filed an investor presentation for Q2 and H1 FY27 with the National Stock Exchange on 5 November 2026, covering the quarter and half-year ended 30 September 2026. The filing described revenue growth alongside lower margins and set out the company's planned Bengaluru expansion. No dividend, fund raise or appointment was disclosed in the same-day filing provided.
What did BASILIC FLY STUDIO's management say?
Management said the new Bengaluru studio is scheduled to become operational from Jan 2027, targeting 40% of total work as headcount doubles. It said a new Bengaluru creative division has been established to support One of Us UK, with hiring ramp-up underway and billing commenced from October FY25. The company said targeted geographic expansion is intended to widen access to regional talent pools and new client ecosystems and serve global productions locally.
Management said the company continues to invest in pipeline automation and AI-assisted production workflows to improve productivity, scalability and delivery consistency. It also said active studios in Vancouver and London support client-facing and creative execution as the company accelerates diversification toward Europe and North America.
Management identified geographic and client concentration as risks, stating that North America generated 86% of H1 FY27 revenue and that the top five clients represented 71% of H1 FY27 revenue while the top ten represented 79%. It attributed the year-on-year PAT-margin decline primarily to the depreciation impact of Q2 FY27 capitalisation, and said the year-on-year EBITDA-margin decline arose because revenue growth came from the comparatively lower-margin overseas business.
Quick answers
What was BASILIC FLY STUDIO's revenue in Q2 FY27?
Revenue from operations was ₹107.40 crore, up 13.7% from ₹94.49 crore in Q2 FY26 (consolidated).
Did BASILIC FLY STUDIO make a profit in Q2 FY27?
Yes. Net profit was ₹7.30 crore.
What was BASILIC FLY STUDIO's EPS in Q2 FY27?
Basic earnings per share were ₹2.91, against ₹5.97 in Q2 FY26.
When did BASILIC FLY STUDIO announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- The investor presentation (5 November 2026)
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