{"id":180381,"date":"2026-02-11T06:15:05","date_gmt":"2026-02-11T11:15:05","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=180381"},"modified":"2026-02-11T06:15:07","modified_gmt":"2026-02-11T11:15:07","slug":"entertainment-network-india-limited-sees-q3-fy26-revenue-growth-led-by-digital-and-ip-ad-market-pressure-weighs-on-ebitda","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/entertainment-network-india-limited-sees-q3-fy26-revenue-growth-led-by-digital-and-ip-ad-market-pressure-weighs-on-ebitda\/","title":{"rendered":"Entertainment Network (India) Limited sees Q3 FY26 revenue growth led by digital and IP; ad market pressure weighs on EBITDA"},"content":{"rendered":"\n

Entertainment Network (India) Limited (NSE: ENIL, BSE: 532700)<\/strong> reported modest revenue growth in the December quarter, driven by sharp gains in digital and IP-led businesses, while profitability declined due to higher operating costs and continued stress in the radio advertising market, according to the company\u2019s Q3 FY26 investor presentation.
<\/p>\n\n\n\n

Q3 FY26 financial performance<\/h2>\n\n\n\n

On a standalone basis, total income rose 4.0% year on year to \u20b91,598.2 million<\/strong> in Q3 FY26. The growth was led by non-core radio segments. Digital platform revenue surged 99.9% year on year to \u20b9308 million<\/strong>, while impact properties revenue increased 10.5%<\/strong>. In contrast, existing core radio business revenue declined 6.7% year on year to \u20b91,291 million<\/strong>, reflecting a muted advertising environment and early festive season shifts.<\/p>\n\n\n\n

EBITDA declined 51.6% year on year to \u20b9137.4 million<\/strong>, as operating expenditure rose 16.6%<\/strong> to \u20b91,460.8 million. EBIT turned negative at \u20b967.5 million<\/strong>, and profit before tax (before exceptional items) was a loss of \u20b937.4 million<\/strong>. The quarter included exceptional items of \u20b981.0 million<\/strong>, resulting in a reported PAT loss of \u20b962.0 million<\/strong>.<\/p>\n\n\n\n

On a consolidated basis, total income increased 3.8% year on year to \u20b91,649.6 million<\/strong>, while EBITDA declined 49.6% to \u20b9153.5 million<\/strong>. PAT stood at a loss of \u20b963.1 million<\/strong> after exceptional items.<\/p>\n\n\n\n

Nine-month FY26 snapshot<\/h2>\n\n\n\n

For the nine months ended Dec. 31, 2025, standalone total income increased 9.5% year on year to \u20b94,081.9 million<\/strong>. However, EBITDA declined 31.5% to \u20b9302.0 million<\/strong> due to cost pressures and slower recovery in core radio advertising. PAT for 9M FY26 was a loss of \u20b9149.2 million<\/strong> after exceptional items.<\/p>\n\n\n\n

The company reported net cash of \u20b93.72 billion<\/strong> as of Dec. 31, 2025, providing balance-sheet resilience despite operating losses.<\/p>\n\n\n\n

Digital and IP businesses gain scale<\/h2>\n\n\n\n

Digital continues to gain share in ENIL\u2019s revenue mix. The digital platform\u2019s share of core radio revenue increased to 49.5% in Q3 FY26<\/strong>, up from 26.9% in Q3 FY25<\/strong> and 13.4% in Q3 FY24<\/strong>, according to the trend chart in the presentation.<\/p>\n\n\n\n

The IP-led business recorded steady growth<\/strong>, with revenue rising to \u20b9353.5 million in Q3 FY26<\/strong> from \u20b9319.9 million<\/strong> a year earlier. Management noted that growth was slightly muted due to a shift in festive season timing, but the IP portfolio continues to scale across live events, branded properties and integrated solutions.<\/p>\n\n\n\n

Operating highlights<\/h2>\n\n\n\n

ENIL continued to invest in product and platform enhancements across its audio streaming app Gaana<\/strong> and Radio Mirchi\u2019s content ecosystem. New features launched in the quarter included user-driven \u201cTop Charts\u201d by region and language<\/strong>, faster playlist creation flows<\/strong>, and collaborative playlists<\/strong>, aimed at improving user engagement and discovery (pages 19\u201321).<\/p>\n\n\n\n

The company also executed high-visibility IPs and partnerships during the quarter, including large-format events such as SBI Green Marathon<\/strong>, Mirchi Club Nights<\/strong>, and collaborations with major concerts and festivals. International activations across Bahrain, Qatar and the U.S. supported brand visibility and advertiser engagement.<\/p>\n\n\n\n

Market environment and outlook<\/h2>\n\n\n\n

Management said the domestic radio ad market remains under pressure, with advertisers cautious on discretionary spends. However, the company expects digital, IP and impact properties<\/strong> to continue outpacing the core radio business, helping diversify revenue streams. ENIL reiterated its focus on integrated solutions across radio, digital and on-ground IPs, alongside continued investment in product features on Gaana to drive user engagement and monetisation.<\/p>\n\n\n\n

Summary<\/h2>\n\n\n\n

ENIL delivered Q3 FY26 revenue growth driven by strong digital and IP momentum, while the core radio business faced continued advertising headwinds. Higher operating costs and exceptional items weighed on profitability. The rising contribution of digital and IP to the revenue mix, along with a net cash balance, provides strategic flexibility as the company navigates a soft ad market and continues its transition toward a more diversified media platform.<\/p>\n","protected":false},"excerpt":{"rendered":"

Entertainment Network (India) Limited (NSE: ENIL, BSE: 532700) reported modest revenue growth in the December quarter, driven by sharp gains in digital and IP-led businesses, while profitability declined due to higher operating costs and continued stress in the radio advertising market, according to the company\u2019s Q3 FY26 investor presentation. Q3 FY26 financial performance On a […]<\/p>\n","protected":false},"author":2409,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,1941,392],"tags":[16273,16272,16271],"class_list":["post-180381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-stock-analysis","category-earnings","tag-advertising-and-media-services","tag-digital-media-and-streaming","tag-radio-broadcasting-industry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":178436,"url":"https:\/\/alphastreet.com\/india\/ufo-moviez-reports-lower-revenue-and-profit-in-q3-fy26-amid-decline-in-advertising-income\/","url_meta":{"origin":180381,"position":0},"title":"UFO Moviez reports lower revenue and profit in Q3 FY26 amid decline in advertising income","author":"Staff Correspondent","date":"January 30, 2026","format":false,"excerpt":"UFO Moviez India Limited (BSE: 539141 \/ NSE: UFO) reported a decline in revenue and profitability in the quarter ended December 2025, driven primarily by lower in-cinema advertising income, according to its Q3 FY26 disclosures. The company reported consolidated revenue of \u20b91,319 million in Q3 FY26, down 5% year-on-year. EBITDA\u2026","rel":"","context":"In "LATEST"","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":173152,"url":"https:\/\/alphastreet.com\/india\/network-18-q3-fy26-earnings-results\/","url_meta":{"origin":180381,"position":1},"title":"Network 18 Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 15, 2026","format":false,"excerpt":"Network 18 Media & Investments is engaged in activities spanning across Digital Content, Print and Allied Businesses. Q3 FY26 Earnings Results Revenue from Operations: \u20b9500.4 crore, up 4.9% QoQ from \u20b9477.2 crore in Q2 FY26 and up 5.0% YoY from \u20b9476.4 crore in Q3 FY25. Operating EBITDA: \u20b911.8 crore, vs\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Network 18 Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Network-18-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":180605,"url":"https:\/\/alphastreet.com\/india\/kellton-tech-solutions-limited-posts-double-digit-q3-fy26-growth-as-digital-transformation-drives-revenue-margins-improve\/","url_meta":{"origin":180381,"position":2},"title":"Kellton Tech Solutions Limited posts double-digit Q3 FY26 growth as digital transformation drives revenue; margins improve","author":"Staff Correspondent","date":"February 13, 2026","format":false,"excerpt":"Kellton Tech Solutions Limited (NSE: KELLTONTEC, BSE: 519602) reported double-digit year-on-year growth in revenue and profit for the quarter ended Dec. 31, 2025, supported by strong demand for digital transformation services and steady margin expansion, according to the company\u2019s earnings presentation on unaudited Q3 FY26 results released on Feb. 12,\u2026","rel":"","context":"In "LATEST"","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":178051,"url":"https:\/\/alphastreet.com\/india\/ht-media-ltd-reports-q3-fy26-results-and-announces-leadership-transition\/","url_meta":{"origin":180381,"position":3},"title":"HT Media Ltd Reports Q3 FY26 Results and Announces Leadership Transition","author":"Staff Correspondent","date":"January 28, 2026","format":false,"excerpt":"HT Media Ltd (NSE: HTMEDIA) reported a marginal increase in consolidated total income for the third quarter of FY26 while navigating significant one-time regulatory costs. The company confirmed a major leadership change with the appointment of a new Managing Director and CEO effective March 2026. The company recorded a consolidated\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":177268,"url":"https:\/\/alphastreet.com\/india\/zee-entertainment-q3-fy26-earnings-results\/","url_meta":{"origin":180381,"position":4},"title":"Zee Entertainment Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 23, 2026","format":false,"excerpt":"Zee Entertainment Enterprises is mainly in the following businesses: Broadcasting of Satellite Television Channels, Space Selling agent for other satellite television channels, and Sale of Media Content i.e. programs \/ film rights \/ feeds \/music rights. Q3 FY26 Earnings Results Zee Entertainment reported 15% YoY revenue growth in Q3 FY26\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":180579,"url":"https:\/\/alphastreet.com\/india\/rnfi-services-limited-reports-q3-9m-fy26-results\/","url_meta":{"origin":180381,"position":5},"title":"RNFI Services Limited Reports Q3 & 9M FY26 Results","author":"Staff Correspondent","date":"February 13, 2026","format":false,"excerpt":"About RNFI Services Ltd. RNFI Services Ltd. (NSE: RNFI) is an Indian fintech company that provides assisted digital and financial services through a wide network of agents and retail partners across the country. The company operates primarily in the Business Correspondent (BC) model, enabling access to banking, Aadhaar-enabled payment services\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/180381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2409"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=180381"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/180381\/revisions"}],"predecessor-version":[{"id":180382,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/180381\/revisions\/180382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125269"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=180381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=180381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=180381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}