IPO-Bound Kuku Technologies Turns Profitable In FY26, Revenue Surges 6X To ₹1,484 Cr

Kuku Technologies Limited, parent company of audio OTT platform Kuku FM and microdrama app Kuku TV, swung into the black in the fiscal year FY26, reporting a net profit of ₹182.7 Cr against a net loss of ₹152.6 Cr incurred in FY25.

The company’s profitability came on the back of a notable uptick in its top line performance. The IPO-bound startup, which filed its confidential DRHP with the SEBI earlier this year, saw its operating revenue for the fiscal year zoom more than sixfold to ₹1,484.2 Cr in FY26 from ₹241.6 Cr in the previous fiscal. Including other income of ₹26.2 Cr, total income for the fiscal stood at ₹1,510.4 Cr.

Subscriptions remained the overwhelming source of Kuku Technologies’ revenue during FY26.

The company generated ₹1,475.4 Cr from subscriptions, accounting for more than 99% of its operating revenue. This was followed by ₹6.9 Cr from pay-per-piece (PPV) content purchases, while advertising brought in the remainder ₹1.9 Cr.

India continued to account for the vast majority of its business, contributing ₹1,463.6 Cr, or roughly 99% of operating revenue. International markets contributed ₹20.5 Cr during the year.

The profitability was also charged by a deferred tax credit of ₹98.2 Cr and a tax expense of ₹4 Cr. Excluding that, the profit for the year stood at ₹88.6 Cr.

At the operating level, Kuku Technologies swung to an EBITDA profit of ₹82.9 Cr in FY26 from an EBITDA loss of ₹159.8 Cr in FY25.

Kuku Turns Profitable Ahead Of IPO

The company, which operates audio OTT platform Kuku FM, microdrama app Kuku TV, among others, has swung to the black ahead of going public. Earlier in September, the markets regulator Securities and Exchange Board of India (SEBI) approved the proposed listing of Kuku Technologies. 

Kuku filed its confidential DRHP with the SEBI in June. As per sources, the IPO’s size could be in the range of ₹2,500-3,500 Cr ($261-366 Mn) and could potentially value it at ₹15,000 Cr (about $1.8 Bn). 

The IPO will consist of a fresh issue of shares as well as an offer-for-sale component. Kuku plans to deploy the capital to upgrade its tech, AI infrastructure, content production and fuel geographic expansion. 

As of now, the startup’s content library spans more than 20,000 titles across seven languages and multiple genres including drama, finance, and well-being. It claims to have more than 1 Cr listeners and creators on its platform and 400 Mn app downloads across its portfolio. 

Kuku has raised over $156 Mn to date from the likes of Fundamentum Partnership, Krafton, Vertex Ventures, IFC, 3one4 Capital, among others. Its most recent $85 Mn Series C funding round, in October 2025, was led by Granite Asia. 

Magnifying Kuku FM’s Spending

Total expenses for the fiscal year surged 3.5X to ₹1,421.8 Cr in the year under review from ₹411 Cr in FY25. Here is a breakdown of where the startup spent a major share of its expenses:

• Marketing And Advertisement Expenses: Constituting 77.7% of the overall expenses, Kuku FM spent ₹1,105.1 Cr on marketing and advertising in FY26. This is a near 4X jump compared with around ₹284.8 Cr spent on marketing in FY25.
• Operational Costs: Spending under this head rose 11X to ₹96.3 Cr in the year under review from ₹8.7 Cr in the previous fiscal.
• Employee Benefit Expenses: Employee-related expenses grew at a much slower pace, increasing about 24% to ₹74.1 Cr in FY26 from ₹59.9 Cr in FY25.

The post IPO-Bound Kuku Technologies Turns Profitable In FY26, Revenue Surges 6X To ₹1,484 Cr appeared first on Inc42 Media.