Sector analysis · India

Media sector earnings growth, Q1 FY27

The 20 largest Media, Entertainment & Publication companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q4 FY26.

The top 20 at Q1 FY27

Q1 FY27 vs Q4 FY26: combined net profit ₹1,041 cr (+54%), median EPS +11% (13 of 19 up), market-cap-weighted price +3%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	Sun TV Network LimitedSUNTV	18.7%	5.90 → 15.71	+166%	+36.1 pp	−9%
2	Prime FocusPFOCUS	15.8%	— → −0.53	sources disagree one-off	—	−33%
3	Nazara Technologies LimitedNAZARA	10.3%	1.27 → −2.16	to loss one source	−11.8 pp	+30%
4	Zee Entertainment Enterprises LimitedZEEL	9.1%	−1.07 → 0.79	turned profitable	+16.7 pp	+43%
5	Saregama India LimitedSAREGAMA	8.7%	3.91 → 2.67	−32%	−2.2 pp	+54%
6	PVR InoxPVRINOX	8.7%	19.01 → 5.75	−70%	−12.1 pp	+5%
7	Tips MusicTIPSMUSIC	7.4%	4.62 → 3.42	−26%	−1.4 pp	+27%
8	Network18 Media & Investments LimitedNETWORK18	4.5%	−0.20 → −0.25	loss, bigger one source	−0.8 pp	+15%
9	D B CorpDBCORP	3.1%	3.49 → 5.65	+62%	+3.6 pp	+3%
10	MPSMPSLTD	3.0%	27.50 → 29.46	+7% one source	+0.3 pp	+27%
11	Hathway Cable & Datacom LimitedHATHWAY	1.8%	0.06 → 0.14	+133%	+1.2 pp	+26%
12	Media Matrix Worldwide LimitedMMWL	1.4%	0.01 → 0.02	+100% one source	+0.1 pp	—
13	Signpost India LimitedSIGNPOST	1.3%	3.94 → 3.50	−11%	−0.2 pp	+23%
14	Jagran Prakashan LimitedJAGRAN	1.3%	0.78 → 2.70	+246% one source	+3.9 pp	+6%
15	Balaji Telefilms LimitedBALAJITELE	1.0%	−1.15 → 1.84	turned profitable one source	+3.4 pp	+24%
16	Aqylon Nexus LimitedAQYLON	1.0%	−0.32 → 0.17	turned profitable one source	+1.1 pp	−19%
17	New Delhi Television LimitedNDTV	0.8%	−8.67 → −7.24	loss, smaller	+1.5 pp	+36%
18	TV Today Network LimitedTVTODAY	0.7%	1.51 → 1.72	+14%	+0.1 pp	+29%
19	The Sandesh LimitedSANDESH	0.7%	−45.63 → 131.43	turned profitable	+12.5 pp	+21%
20	GTPL Hathway LimitedGTPL	0.6%	−1.34 → 0.21	turned profitable one source	+1.6 pp	+9%
	Sector earnings growth	100%			+53.6 pp

Who joined and who left

1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.

Joined the top 20 since Q4 FY26 1

now #12 Media Matrix Worldwide Limited MMWL

Left the top 20 since Q4 FY26 1

was #20 Entertainment Network (India) Limited ENIL

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth quarter on quarter, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
sources disagree our two sources disagree, so the figure is left out of the sector totals
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
SUNTV	−22%	−2%	−9%	+35%	−27%	−11%	+2%	+42%	−33%	−9%	−28%	+166%
PFOCUS	loss, bigger	loss, smaller	loss, bigger	loss, bigger	turned profitable	to loss	loss, bigger	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree
NAZARA	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree	to loss	turned profitable	+370%	to loss
ZEEL	turned profitable	−52%	−77%	+779%	+77%	−22%	+15%	−23%	−47%	+102%	to loss	turned profitable
SAREGAMA	+10%	+9%	+3%	−32%	+22%	+39%	−3%	−39%	+19%	+17%	+47%	−32%
PVRINOX	turned profitable	−92%	to loss	loss, bigger	loss, smaller	turned profitable	to loss	loss, smaller	turned profitable	−9%	+95%	−70%
TIPSMUSIC	+46%	−13%	−26%	+70%	+11%	−8%	−31%	+50%	+16%	+10%	+1%	−26%
NETWORK18	loss, bigger	loss, smaller	loss, bigger	loss, bigger	loss, smaller	loss, bigger	loss, smaller	turned profitable	−73%	to loss	loss, bigger	loss, bigger
DBCORP	+27%	+24%	−1%	−4%	−30%	+43%	−56%	+54%	+15%	+2%	−35%	+62%
MPSLTD	−1%	−1%	−3%	−10%	+36%	+16%	+16%	−25%	+57%	−36%	+33%	+7%
HATHWAY	−15%	+18%	+54%	−50%	+50%	−47%	+150%	−10%	−44%	+20%	−50%	+133%
MMWL	outside	outside	outside	outside	outside	outside	outside	outside	outside	outside	outside	+100%
SIGNPOST	outside	outside	+88%	−37%	+42%	−64%	−83%	+1,489%	+2%	+16%	+16%	−11%
JAGRAN	−5%	+74%	−69%	+80%	+4%	+46%	to loss	turned profitable	−13%	−7%	−69%	+246%
BALAJITELE	outside	outside	outside	outside	outside	outside	outside	to loss	loss, smaller	loss, bigger	loss, smaller	turned profitable
AQYLON	outside	outside	outside	outside	outside	outside	outside	outside	outside	outside	to loss	turned profitable
NDTV	turned profitable	to loss	loss, smaller	loss, bigger	outside	outside	outside	loss, bigger	loss, bigger	loss, bigger	loss, bigger	loss, smaller
TVTODAY	−20%	+314%	−61%	+348%	−84%	+5%	−29%	+19%	to loss	loss, smaller	turned profitable	+14%
SANDESH	outside	outside	outside	outside	outside	to loss	turned profitable	outside	−93%	+897%	to loss	turned profitable
GTPL	−5%	−31%	−45%	+9%	−10%	−21%	+6%	−1%	−13%	+20%	to loss	turned profitable