Amagi Q2 revenue rises 27% as adjusted EBITDA reaches ₹89 crore

Amagi Media Labs Limited reported record second-quarter fiscal year 2027 (Q2 FY27) revenue of ₹476 crore, up 27% year on year, while adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) rose 114% to ₹89 crore and margin increased 7.6 percentage points to 18.7%. Profit after tax (PAT) reached ₹75 crore.

How did Amagi perform in Q2 FY27?

Amagi delivered its highest reported quarterly revenue, adjusted EBITDA and PAT in Q2 FY27. Revenue was ₹476 crore, representing 27% year-on-year growth, while adjusted EBITDA was ₹89 crore after increasing 114%. Amagi said the adjusted EBITDA margin reached 18.7%, 7.6 percentage points above the prior-year quarter, reflecting continued operating leverage.

The increase in profitability outpaced revenue growth during Q2 FY27. PAT rose nearly 30-fold year on year to ₹75 crore, while PAT margin improved 14.3 percentage points to 14.9%. The disclosed PAT-margin gain was therefore larger than the 7.6-percentage-point adjusted EBITDA-margin gain, although the release does not provide prior-year absolute revenue, adjusted EBITDA or PAT figures.

Amagi described the November 5, 2026 results as record quarterly outcomes. Amagi attributed the 18.7% adjusted EBITDA margin to operating leverage, while Managing Director and Chief Executive Officer Baskar Subramanian said the quarter reflected progress in scaling operations with greater discipline.

What do Amagi's H1 FY27 figures show?

Amagi reported first-half fiscal year 2027 (H1 FY27) revenue of ₹913 crore, up 29.5% year on year, while adjusted EBITDA increased 139% to ₹139 crore. The half-year adjusted EBITDA margin was 15.3%, up 7.0 percentage points, and PAT rose nearly 17-fold to ₹109 crore with an 11.4% margin.

The H1 FY27 revenue growth rate of 29.5% was 2.5 percentage points above the 27% reported for Q2 FY27. However, H1 adjusted EBITDA margin of 15.3% was 3.4 percentage points below the Q2 level of 18.7%, and H1 PAT margin of 11.4% was 3.5 percentage points below Q2's 14.9%. These compare a six-month period with a quarter and do not represent standalone first-quarter results, which the release does not disclose.

Cash generation also changed direction in the six months ended September 30, 2026. Adjusted operating cash flow (adjusted OCF) was ₹94 crore in H1 FY27, compared with an adjusted OCF outflow of ₹98 crore in H1 FY26. Amagi also reported cash and treasury of ₹1,774 crore and no debt at the end of the disclosed half-year period.

What is driving Amagi's operating momentum?

Amagi said it expanded engagements with media networks across the United States, Middle East and Asia-Pacific during Q2 FY27. Its cloud-native software-as-a-service platform serves media and entertainment companies through Streaming Unification, Monetization & Marketplace, and Cloud Modernization, covering live, linear and on-demand content across cable, over-the-top and free ad-supported streaming television platforms.

Amagi disclosed four artificial intelligence product launches in Q2 FY27: Amagi STUDIO, FANPULSE, Integrated Localization and Agentic NOC. It also said NEWSPULSE was live at local stations of a major US broadcast group. The November 5 release does not quantify revenue from these products, any individual customer, geography or platform line, so their contribution to Q2 revenue of ₹476 crore is not stated.

Amagi also cited external recognition alongside its Q2 FY27 results. It said it was named a Leader in IDC MarketScape 2026 for the AI-driven business cycle in media, while NEWSPULSE won TVTech's Best of Show at IBC 2026 and Best Use of Agentic AI in Media at the CSI Awards 2026. These recognitions do not measure the reported 27% year-on-year revenue increase.

What has Amagi said about its plans after Q2 FY27?

Amagi said it sees three opportunities: helping customers operate more efficiently, reach new audiences and maximise revenue from their content. Management expects artificial intelligence to play a role across all three, and said the four Q2 FY27 product launches and NEWSPULSE moving into customer operations build on its Media Industry Cloud.

Baskar Subramanian said Amagi aims to turn innovation into customer adoption while sustaining growth, profitability and cash generation. This is management's stated objective rather than a numerical forecast: the November 5, 2026 release provides no revenue, margin, cash-flow or customer target for a future quarter or fiscal year.

Amagi is also broadening its board through the appointments of Dr. Bhaskar Ghosh, formerly Accenture's Chief Strategy and Innovation Officer, and Srividhya Srinivasan, Amagi's co-founder and Chief Technology Officer. Amagi said their experience in artificial intelligence, technology and enterprise transformation will support its next phase of growth, but did not disclose appointment dates or a change in board size.

Conclusion

Amagi's Q2 FY27 release combines 27% revenue growth to ₹476 crore with faster growth in adjusted EBITDA, which rose 114% to ₹89 crore, and PAT, which reached ₹75 crore. Across H1 FY27, revenue grew 29.5% to ₹913 crore and adjusted OCF moved from a ₹98 crore outflow to a ₹94 crore inflow, while cash and treasury stood at ₹1,774 crore with no debt.

The next developments to watch are customer adoption of NEWSPULSE, already live at local stations of a major US broadcast group, and uptake of Amagi STUDIO, FANPULSE, Integrated Localization and Agentic NOC. Management has said it intends to convert innovation into customer adoption while sustaining growth, profitability and cash generation, but has not set a numerical target or scheduled operating milestone.