Netflix India’s FY26 net up 6% at Rs 90 crore

Mumbai: Netflix Entertainment Services India‘s net profit grew 6% year-on-year to Rs 90 crore in FY26, while total income rose 17% to Rs 4,477 crore, reflecting pressure on margins amid rising costs, according to filings with the Registrar of Companies (RoC).

The local operating entity of US-based Netflix saw a profit growth that moderated from FY25, when earnings rose 63% year-on-year. Turnover growth was driven by subscriber additions, as the streaming platform continued to expand its India business. Profit growth, however, lagged income expansion as total expenditure rose 17% to Rs 4,339 crore from Rs 3,711 crore in FY25.

Other expenses, the company’s largest cost head, increased 17% to Rs 4,230 crore, while personnel expenses rose 13% to Rs 99 crore.

Netflix India’s paid subscriber base is estimated at 20-25 million.

Email queries to the company did not elicit a response till press time. Meanwhile, Los Gatos Production Services India, Netflix’s India-based content production entity, reported a 42% decline in net profit to Rs 105 crore in FY26. Total income fell 2% to Rs 4,177 crore, while expenditure increased 1% to Rs 4,015 crore. The decline in profitability comes amid significant content costs associated with a growing production business.

Multiple factors
Financial performance is influenced by multiple factors, primarily the slate of titles launched in a particular year and their production costs. The entity’s financials are not indicative of Netflix’s overall performance in India since it is a buy-sell entity for Netflix’s local titles. The two entities reported contrasting balance-sheet trends. Netflix India’s cash and cash equivalents declined 21% to Rs 630 crore, while Los Gatos’ cash balance rose 31% to Rs 1,068 crore.