Entertainment Network (India) (ENIL) Q2 25/26 earnings summary

Executive summary

• Domestic revenues reached INR 135.4 crores, up 23.7% year-over-year, driven by strong digital and non-FCT growth.

• International business revenue rose 35% year-over-year to INR 5.9 crores.

• Unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2025 were approved by the Board on 4 November 2025.

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

• The company maintains a robust cash balance of INR 344.7 crores as of September 30, 2025.

Financial highlights

• Standalone revenue from operations for Q2 FY26 was ₹13,541.54 lakhs, up from ₹11,295.99 lakhs in Q1 FY26 and ₹10,950.77 lakhs in Q2 FY25.

• Consolidated revenue from operations for Q2 FY26 was ₹14,113.93 lakhs, up from ₹11,694.14 lakhs in Q1 FY26 and ₹11,354.59 lakhs in Q2 FY25.

• EBITDA (excluding digital) stood at INR 20 crores, with a margin of 19.3%.

• Non-FCT segment revenue was INR 34.5 crores, up 42.2% year-over-year.

• Standalone net loss for Q2 FY26 was ₹(383.93) lakhs, compared to a net loss of ₹(896.23) lakhs in Q1 FY26 and ₹(935.66) lakhs in Q2 FY25.

Outlook and guidance

• Management aims for a 50/50 revenue mix between radio and non-radio (digital and solutions) over the next few years.

• Radio business expected to deliver single-digit growth in coming quarters.

• Gaana business targeted to break even by June–September next year.

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