Amagi Q1 FY27: Consol. PAT ₹34 Cr, Revenue +32% YoY as Margins Expand

Amagi Media Labs' consolidated Q1 FY27 (quarter ended June 30, 2026) revenue rose 32.4% YoY to ₹436.9 Cr from ₹330.1 Cr, and 10.1% QoQ from ₹397.0 Cr in Q4 FY26. Consolidated PAT came in at ₹33.9 Cr, up sharply from a near-breakeven ₹3.9 Cr a year ago, though nearly flat sequentially (-1.0% QoQ) against ₹34.3 Cr in Q4 FY26 — the second straight quarter near this level after the sharp FY26 ramp. Basic consolidated EPS was ₹1.49 versus ₹0.20 a year ago and ₹1.54 last quarter. Revenue came in modestly ahead of the ~₹424 Cr aggregate analyst estimate tracked by Investing.com (a ~3% beat); no PAT consensus was publicly available to benchmark against, and Univest's own Q1 preview noted detailed street estimates for Amagi were not yet published.

The operating margin (EBITDA excluding other income, over revenue) expanded to 6.83% from -0.36% a year ago and 6.01% in Q4 FY26 — the operating leverage management flagged on its May 2026 concall showing up in the core business. Net margin eased to 7.46% from 8.13% in Q4 FY26 (though still up sharply from 1.14% a year ago), because other income fell 27% QoQ to ₹17.6 Cr from ₹24.2 Cr — the swing factor masking the OPM improvement at the PAT line. Total tax expense was ₹6.5 Cr (₹5.85 Cr foreign tax plus ₹0.65 Cr deferred), broadly stable versus ₹6.28 Cr last quarter; India tax remained nil as no deferred tax assets are recognized against the group's carried-forward losses.

The stock went into the print at ₹658.1, up 17.2% over the past month of trading.

Standalone (India-only) PBT/PAT was ₹22.97 Cr — a swing from a ₹5.53 Cr loss a year ago — but stays well below the ₹33.9 Cr consolidated figure, confirming overseas subsidiaries (Amagi Corporation USA and other units) drive the bulk of incremental group profit; standalone tax was nil for the same DTA non-recognition reason. Management's own press release on this print was not available to cross-check its framing. The quarter carried two developments tied to the growth story: the August 11 expansion of the Amagi-TV9 Network partnership for CTV operations, and the July 29 appointment of a DACH sales lead, both consistent with the revenue trajectory; the board also re-approved Baskar Subramanian's MD/CEO term (five years from December 1, 2026) and reclassified authorised share capital post-IPO, neither of which affects operating results.