Entertainment Network (India) (ENIL) Q1 25/26 earnings summary

Executive summary

• Domestic revenue reached INR 113 crores, up 3.2% year-on-year, driven by strong non-FCT and Digital segment growth.

• EBITDA was INR 6.2 crores, up 3.6% year-on-year, with a focus on profitability and operational efficiency.

• International operations were EBITDA positive, contributing INR 4.1 crores in revenue.

• Cash balance stood at INR 336 crores as of June 30, 2025.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, were approved by the Board on July 29, 2025.

• Both standalone and consolidated results were reviewed by independent auditors, with no material misstatements identified.

Financial highlights

• Standalone revenue from operations for Q1 FY26 was ₹11,114.84 lakhs, with total income at ₹11,295.99 lakhs.

• Standalone net loss for the quarter was ₹559.05 lakhs, compared to a net profit of ₹1,256.63 lakhs in the previous quarter and a net loss of ₹551.73 lakhs in Q1 FY25.

• Consolidated revenue from operations for Q1 FY26 was ₹11,512.55 lakhs, with total income at ₹12,490.33 lakhs.

• Consolidated net loss for the quarter was ₹526.24 lakhs, compared to a net profit of ₹1,216.88 lakhs in the previous quarter and a net loss of ₹544.84 lakhs in Q1 FY25.

• Non-FCT segment revenue grew 33% year-on-year to INR 25.2 crores, with a 43.4% EBITDA margin.

• Digital revenues rose 41.2% year-on-year to INR 21.7 crores, now 40.7% of total radio revenues.

• Gaana revenue was INR 18 crores, up 87.6% year-on-year from INR 9.57 crores.

• Digital investments declined to INR 9.8 crores from INR 14.2 crores year-on-year.

• Radio advertising revenue was INR 66.1 crores, down 12.1% year-on-year due to a high base and reduced political advertising.

• Basic and diluted EPS for the quarter were negative at (1.08) standalone and (1.10) consolidated.

Outlook and guidance

• Modest growth expected in the Radio business for the remainder of FY 2026.

• Gaana is expected to break even by early next year, with a revenue run rate of INR 150 crores seen as sufficient for EBITDA positivity.

• Event business anticipated to nearly double revenues in coming quarters, with strong tailwinds in experiential spending.

• Annual net subscriber additions for Gaana projected at 25% growth.

• No explicit forward-looking guidance provided; management continues to monitor ongoing legal matters and market conditions.