Entertainment Network (India) (ENIL) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue declined amid subdued advertising and festive-date shifts; cost actions and lower digital losses supported EBITDA growth.

• Standalone domestic revenue was ₹1,136.5 Mn, down 16.1% YoY; standalone EBITDA rose 9.5% to ₹112.6 Mn.

• Consolidated revenue from operations was ₹11,670.19 lakh and net loss was ₹485.47 lakh; six-month consolidated net loss was ₹1,086.45 lakh.

• Digital revenue grew 4.6% to ₹33 Mn, reaching 29.0% of domestic revenue; digital EBITDA losses narrowed 23.3% to ₹75.2 Mn.

Financial highlights

• Consolidated Q2 revenue from operations was ₹11,670.19 lakh versus ₹14,113.93 lakh YoY; total expenses were ₹13,039.43 lakh versus ₹15,408.04 lakh.

• Consolidated Q2 loss before tax was ₹611.73 lakh; net loss was ₹485.47 lakh versus ₹408.92 lakh YoY.

• Standalone Q2 revenue from operations fell 16.1% to ₹11,365.00 lakh; EBITDA rose 9.5% to ₹112.6 Mn, while PAT loss widened 8.7% to ₹38.8 Mn.

• Consolidated EBITDA increased 5.9% to ₹120.5 Mn; international business revenue was ₹31.8 Mn.

• Six-month standalone revenue was ₹22,440.77 lakh and net loss was ₹838.37 lakh, versus ₹871.84 lakh YoY.

Outlook and guidance

• No formal guidance; Q3 showed early signs of advertising improvement, which management expects to continue.

• Festive dates shifted event revenue into Q3; management expects event-business growth in coming quarters and years, while prioritizing profitable growth.

• Gaana’s Q4 EBITDA breakeven remains an ambition; higher subscriber acquisition costs could delay it by one or two quarters.