Earnings call: Q2 revenue INR120 crores, up 35% YoY; content cost seen at INR90 crores to INR100 crores
Transcript of the Q2 FY27 earnings conference call.
By ScoutQuest · · 2 min read
- Q2 Revenue
- INR120 crores, up 35% year-on-year
- Operating EBITDA / PAT
- Operating EBITDA INR84.64 crores; profit after tax INR65.5 crores
- Content Cost Guidance
- Full-year content cost guided at INR90 crores to INR100 crores
Earnings call transcript, Q2 FY27
This is the transcript of the company's earnings conference call on its unaudited results for the quarter and half year ended September 30, 2026.
Key outcomes from the call
- Revenue for the quarter was INR120 crores, a year-on-year growth of 35%.
- Operating EBITDA was INR84.64 crores.
- Profit after tax for the quarter was INR65.5 crores.
- For the first half, revenue was INR227 crores.
- Content cost for the quarter almost doubled compared with a year earlier; management linked this to a front-loaded set of new releases and the promotion spend that goes with them, and said promotion is treated as part of content cost.
- Growth in the quarter came from both new releases and the catalogue, with digital and non-digital platforms both contributing.
Guidance given by management
- Full-year content cost is expected in the range of INR90 crores to INR100 crores.
- Content spending was front-loaded in the first half, and the second half is expected to be lighter on the content side.
- The front-loaded new releases are expected to keep supporting growth in the second half.
- Releases planned for the second half are described as smaller films and non-film music.
- The digital share of revenue is expected to stay within its usual band, and small quarter-to-quarter swings were said not to change profitability because content budgets and fixed costs are broadly in line.
- The YouTube Shorts monetisation deal is still under negotiation and has not been concluded.
Other points from the call
- The buyback of shares amounting to INR44.44 crores through the open market was completed.
- The Warner partnership is continuing as per expectations.
- The company continued to see strong engagement across new releases and catalogue content on digital and non-digital segments.
What a retail investor can take away
The call sets out the quarter's topline and profit, and pairs that with a stated full-year content budget. Management's own view is that the heavier spending is behind it for the year, with a lighter second half, and that smaller releases will carry the second half. The pending platform deal is flagged as still being negotiated, with an update promised once concluded.
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More numbers
- Q2 FY27 revenueINR120 crores
- Q2 FY27 revenue year-on-year growth35%
- Q2 FY27 operating EBITDAINR84.64 crores
- Q2 FY27 profit after taxINR65.5 crores
- H1 FY27 revenueINR227 crores
- Full-year content cost guidance - lower endINR90 crores
- Full-year content cost guidance - upper endINR100 crores
- Completed open market buyback amountINR44.44 crores
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