Kuku Technologies Limited, known for its audio OTT platform Kuku FM and microdrama app Kuku TV, reported a significant turnaround by becoming profitable in FY26. The company’s revenue surged more than six times to ₹1,484.2 Cr, driven almost entirely by subscriptions, as it readies for a major public listing.
- Revenue rose over 6X to ₹1,484 Cr in FY26 driven by subscriptions
- Posted net profit of ₹182.7 Cr after consecutive losses
- IPO plans target valuation around ₹15,000 Cr ($1.8 Bn)
What happened
Kuku Technologies Limited, which operates India’s audio OTT platform Kuku FM and microdrama app Kuku TV, reported a net profit of ₹182.7 Cr for the fiscal year FY26. This comes after a net loss of ₹152.6 Cr in FY25, marking a profitable turnaround largely fueled by a more than sixfold increase in operating revenue to ₹1,484.2 Cr. Subscriptions formed over 99% of this revenue.
The company also recorded an EBITDA profit of ₹82.9 Cr in FY26 compared to a loss the prior year. Total expenses grew substantially to support marketing, operations, and staff increases. The firm filed a confidential DRHP with the Indian markets regulator SEBI in June 2026, with the IPO expected to raise ₹2,500-3,500 Cr and potentially value the company at ₹15,000 Cr ($1.8 billion).
Why it matters
This profitability milestone is particularly significant as Kuku Technologies prepares to go public, showcasing strong subscriber growth and effective operational ramp-up. The firm's dominance in the Indian market—with approximately 99% domestic revenue—demonstrates the scalability and appeal of audio OTT content and microdrama niches in India’s rapidly evolving digital entertainment sector.
The substantial marketing spend, which comprised over 77% of overall expenses at ₹1,105.1 Cr, illustrates Kuku’s aggressive push to capture market share and bolster its platform usage, which currently includes over 1 crore listeners and creators and 400 million app downloads. Investor backing from top venture funds further positions the company as a notable Indian tech IPO contender.
What to watch next
Investors and industry watchers will closely monitor Kuku’s IPO progress and how efficiently the company deploys its raised capital for technology upgrades, AI integration, content production, and geographic expansion. Evaluating the sustainability of its subscription-led revenue growth amid rising expenses will be key to unlocking long-term profitability potential.
Additionally, Kuku’s ability to expand its international footprint beyond the current ₹20.5 Cr revenue slice and diversify content offerings across languages and genres will be pivotal. The company’s upcoming quarterly and annual financial reports will provide insights into operational efficiencies, user engagement, and competitive positioning ahead of and following its public debut.