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Entertainment Network Q2 FY27 results: net loss widens to ₹4.85 crore, revenue down 17.3%
Entertainment Network (India) Limited reported consolidated revenue of ₹116.70 crore in Q2 FY27, down 17.3% from Q2 FY26, while EBITDA rose 5.9% to ₹12.05 crore and the EBITDA margin increased to 10.3%. The company reported a net loss of ₹4.85 crore and basic EPS of -₹1.02, compared with a net loss of ₹4.09 crore and basic EPS of -₹0.86 in the year-ago quarter.
Key points
- Consolidated revenue was ₹116.70 crore in Q2 FY27, down 17.3% from ₹141.14 crore in Q2 FY26 and up 2.6% from ₹113.69 crore in Q1 FY27.
- EBITDA rose to ₹12.05 crore from ₹11.38 crore in Q2 FY26, while the margin increased to 10.3% from 8.1%.
- A net loss of ₹4.85 crore and basic EPS of -₹1.02 were reported in Q2 FY27; Q2 FY26 recorded a net loss of ₹4.09 crore and basic EPS of -₹0.86.
- Total expenses fell to ₹130.39 crore from ₹154.08 crore in Q2 FY26, with other expenses down ₹20.76 crore and employee cost down ₹4.36 crore.
- H1 FY27 revenue was ₹230.39 crore, down 10.7% from ₹258.08 crore in H1 FY26, while the net loss widened to ₹10.86 crore from ₹9.35 crore.
How did Entertainment Network perform in Q2 FY27?
Entertainment Network reported consolidated revenue of ₹116.70 crore in Q2 FY27, down 17.3% from ₹141.14 crore in Q2 FY26. EBITDA rose 5.9% to ₹12.05 crore and the EBITDA margin increased by 2.2 percentage points to 10.3%. The company reported a net loss of ₹4.85 crore and basic EPS of -₹1.02, against a net loss of ₹4.09 crore and basic EPS of -₹0.86 in the year-ago quarter.
Against Q1 FY27, revenue rose 2.6% to ₹116.70 crore from ₹113.69 crore, while EBITDA increased 33.6% to ₹12.05 crore from ₹9.02 crore. The EBITDA margin was higher by 2.4 percentage points at 10.3%, and the net loss narrowed to ₹4.85 crore from ₹6.01 crore. Basic EPS improved to -₹1.02 from -₹1.26. On the standalone basis, revenue was ₹113.65 crore and the company reported a net loss of ₹3.88 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 116.70 | 113.69 | 141.14 | −17.3% | +2.6% |
| Other income | 7.58 | 8.43 | 6.75 | +12.3% | −10.1% |
| Total expenses | 130.39 | 129.60 | 154.08 | −15.4% | +0.6% |
| EBITDA | 12.05 | 9.02 | 11.38 | +5.9% | +33.6% |
| EBITDA margin | 10.3% | 7.9% | 8.1% | +2.2 pp | +2.4 pp |
| Profit before tax | −6.12 | −7.48 | −6.19 | ||
| Tax | −1.26 | −1.47 | −2.10 | ||
| Net profit | −4.85 | −6.01 | −4.09 | ||
| EPS (₹) | −1.02 | −1.26 | −0.86 |
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 Entertainment Network's costs and profit?
Total expenses declined to ₹130.39 crore in Q2 FY27 from ₹154.08 crore in Q2 FY26. Other expenses fell by ₹20.76 crore to ₹71.61 crore, employee cost declined by ₹4.36 crore to ₹33.03 crore, and finance costs fell by ₹0.44 crore to ₹3.15 crore. Depreciation increased by ₹1.87 crore to ₹22.60 crore, and there was no exceptional item in either quarter.
Other income increased by ₹0.83 crore to ₹7.58 crore from ₹6.75 crore in Q2 FY26. Loss before tax was ₹6.12 crore, compared with ₹6.19 crore in the year-ago quarter, while the tax benefit was ₹1.26 crore against ₹2.10 crore. The net loss was ₹4.85 crore, compared with ₹4.09 crore in Q2 FY26, and the PAT margin was -4.2% against -2.9%. In Q1 FY27, other income was ₹8.43 crore and total expenses were ₹129.60 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 33.03 | 37.39 | −4.36 | −11.7% |
| Finance costs | 3.15 | 3.59 | −0.44 | −12.3% |
| Depreciation | 22.60 | 20.73 | +1.87 | +9.0% |
| Other expenses | 71.61 | 92.37 | −20.76 | −22.5% |
| Total expenses | 130.39 | 154.08 | −23.69 | −15.4% |
| Other income | 7.58 | 6.75 | +0.83 | +12.3% |
| Tax | −1.26 | −2.10 | +0.84 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Entertainment Network reported consolidated revenue of ₹230.39 crore, down 10.7% from ₹258.08 crore in H1 FY26. Total income was ₹246.39 crore, down 9.7% from ₹272.79 crore, while loss before tax was ₹13.60 crore against ₹14.49 crore in the year-earlier period.
The net loss widened to ₹10.86 crore in H1 FY27 from ₹9.35 crore in H1 FY26, and basic EPS was -₹2.28 against -₹1.96. The consolidated investor presentation showed EBITDA of ₹210.8 million for the year to September 2026, up 11.2% from ₹189.5 million in the year-earlier period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 230.39 | 258.08 | −10.7% |
| Profit before tax | −13.60 | −14.49 | |
| Net profit | −10.86 | −9.35 | |
| EPS (₹) | −2.28 | −1.96 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1146.29 crore, compared with ₹1206.44 crore at 31 March 2026, while total equity was ₹738.91 crore against ₹758.88 crore. Cash was ₹24.90 crore, compared with ₹36.37 crore, and borrowings remained nil. Trade receivables were ₹169.47 crore against ₹178.52 crore, and trade payables were ₹171.12 crore against ₹173.96 crore.
H1 FY27 operating cash flow was -₹24.65 crore, compared with -₹11.75 crore in H1 FY26. Investing cash flow was ₹38.75 crore against ₹28.64 crore, financing cash flow was -₹25.39 crore against -₹24.45 crore, and capital expenditure was -₹14.80 crore against -₹13.37 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,146 | 1,206 |
| Total equity | 738.91 | 758.88 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 24.90 | 36.37 |
| Inventories | 0 | 0 |
| Trade receivables | 169.47 | 178.52 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −24.65 | −11.75 |
| Cash from investing | 38.75 | 28.64 |
| Cash from financing | −25.39 | −24.45 |
| Capital expenditure | −14.80 | −13.37 |
Source: Company's results filing (XBRL).
How has Entertainment Network done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹164.96 crore in Q3 FY26 and its lowest at ₹113.69 crore in Q1 FY27. It subsequently rose to ₹116.70 crore in Q2 FY27, while the EBITDA margin increased from 7.9% to 10.3%. The latest quarter was below the ₹158.90 crore revenue recorded in Q3 FY25.
Reported quarterly profit peaked at ₹12.17 crore in Q4 FY25 and bottomed at a net loss of ₹6.31 crore in Q3 FY26. The net loss narrowed to ₹6.01 crore in Q1 FY27 and then to ₹4.85 crore in Q2 FY27. The EBITDA margin reached its lowest point at 6.5% in Q1 FY26 and its highest at 19.2% in Q3 FY25, before ending Q2 FY27 at 10.3%.
What else did the company announce?
The board approved and took on record the unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2026 on 3 November 2026. It also took on record the limited review report and considered other business items. The trading window was to reopen after the expiry of 48 hours from the results becoming generally available. The same-day investor presentation was also filed with BSE.
What did Entertainment Network's management say?
Management said Q3 FY27 advertising green shoots were expected to continue, although it provided no numerical company-wide revenue outlook. It expected events to grow in coming quarters and years, with opportunities pursued only where margins remain healthy, and said improved cost structures could support radio profitability even if advertising remains subdued.
Management retained Gaana’s ambition of EBITDA breakeven by Q4 FY27 but said higher acquisition costs and AI-driven referral pressure could delay it by one or two quarters. CEO Yatish Mehrotra said, “What has happened is, you know, we don't chase subscriber numbers on Gaana. We have seen some pressure on Gaana coming with higher acquisition costs, so we've been little careful on unit economics on the Gaana subscriber growth.”
Management identified subdued advertising demand, shifts in festive dates, higher Gaana acquisition costs, referral-traffic pressure, and increasing event competition as risks. It attributed the decline in cash to event advances, dividend and digital capital expenditure.
How did Entertainment Network shares react?
Entertainment Network filed the results after market hours on 3 November 2026. On the reaction day, the stock fell 2.0% from its pre-results close of ₹84.21, while the Media & Entertainment industry median rose 1.1%; the stock therefore underperformed the sector by 3.1 percentage points. By the next day’s close, it was down 1.5% from the pre-results close, versus a 0.1% rise for the industry median.
Earlier reaction-day moves included a 1.9% fall on 5 August 2026, a 3.4% fall on 15 May 2026 and a 4.3% fall on 10 February 2026. The stock had also fallen 7.6% on 31 July 2024, while it rose 6.7% on 29 July 2025.
| After the filing | Stock | Media & Entertainment median |
|---|---|---|
| Reaction day | −2.0% | +1.1% |
| Next day | −1.5% | +0.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 August 2026 | −1.9% |
| 15 May 2026 | −3.4% |
| 10 February 2026 | −4.3% |
| 4 November 2025 | −3.9% |
| 29 July 2025 | +6.7% |
| 7 February 2025 | −5.2% |
| 12 November 2024 | −2.9% |
| 31 July 2024 | −7.6% |
Source: MarketPing price-reaction measurement.
How did other Media & Entertainment companies do?
Five other Media & Entertainment companies that had filed for the quarter had a median revenue growth of 9.4%, and all five grew faster than Entertainment Network. No peer grew slower than the company. Of the six peers used for the profit comparison, five reported higher profit.
| Entertainment Network revenue growth (YoY) | −17.3% |
|---|---|
| Median of 5 other Media & Entertainment companies | +9.4% |
| Companies with slower revenue growth than Entertainment Network | 0 of 5 |
| Companies with faster revenue growth than Entertainment Network | 5 of 5 |
| Companies whose net profit rose | 5 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Entertainment Network's revenue in Q2 FY27?
Revenue from operations was ₹116.70 crore, down 17.3% from ₹141.14 crore in Q2 FY26 (consolidated).
Did Entertainment Network make a profit in Q2 FY27?
No. It reported a net loss of ₹4.85 crore, against a net loss of ₹4.09 crore in Q2 FY26.
What was Entertainment Network's EPS in Q2 FY27?
Basic loss per share was ₹1.02, against a loss of ₹0.86 in Q2 FY26.
How did Entertainment Network shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.0% from the previous close; the median Media & Entertainment stock moved +1.1%.
When did Entertainment Network announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Quarterly Results And Other Business Matters (BSE, 25 October 2026) · PDF
- Financial Results Q2FY27 (BSE, 3 November 2026) · PDF
- Board Meeting Outcome for Financial Results Q2FY27 (BSE, 3 November 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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