Mobavenue AI Tech Q1 FY27 Results (BSE: 539682)
Signal: Growth reaccelerated
The read
The trajectory remains scale-led: consolidated revenue was ₹72.85 Cr (+1205.6% YoY, +16.3% QoQ) and EBITDA ₹17.57 Cr (+870.7% YoY), while outcome volume rose 57.3% and revenue per outcome rose 11.0%, supporting both volume and monetisation momentum. The key quality issue is that EPS rose only 71.6% against PAT growth of 770.1%, and consolidated earnings materially exceed the parent's standalone PAT of ₹2.41 Cr.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹72.85 Cr | 1205.6% | 16.3% |
| EBIT | ₹16.89 Cr | 833.1% | |
| Net profit | ₹11.66 Cr | 770.1% | |
| EPS | ₹1.51 | 71.6% | |
| EBIT margin | 24.1% |
P&L walk
Revenue reached ₹72.85 Cr (+1205.6% YoY, +16.3% QoQ), while EBITDA of ₹17.57 Cr (+870.7% YoY) and EBIT of ₹16.89 Cr (+833.1% YoY) indicate strong operating scaling; PAT of ₹11.66 Cr (+770.1% YoY) also benefited from ₹2.15 Cr of other income, while EPS growth of +71.6% lagged PAT growth.
Segments
No segment results table was disclosed; the material basis divergence is between consolidated PAT of ₹11.66 Cr and standalone PAT of ₹2.41 Cr, indicating that group subsidiaries or other consolidated entities account for most earnings.
Key positives
- Consolidated revenue of ₹72.85 Cr grew 1205.6% YoY and 16.3% QoQ, with direct advertisers contributing 65.2% of revenue.
- Consumer outcomes increased 57.3% YoY to 14.16 million while revenue per outcome increased 11.0% to ₹49.94, showing monetisation growth alongside activity growth.
- EBITDA reached ₹17.57 Cr, up 870.7% YoY, as management stated that revenue grew faster than data and operating costs.
- International revenue contribution increased to 20.7% from 11.5% in FY26, while the company expanded into the United States and Singapore.
- The Mobavenue Neural Engine, PiiX for Apple Ads and the Philippines launch of PrsmX broaden the product and geographic platform footprint.
Key concerns
- Consolidated EPS grew only 71.6% YoY to ₹1.51 versus PAT growth of 770.1%, requiring confirmation of the share-count or minority-interest bridge.
- Standalone PAT of ₹2.41 Cr was only about one-fifth of consolidated PAT of ₹11.66 Cr, making group subsidiaries central to the earnings thesis.
- The filing reports conflicting consolidated EBITDA margin figures: the verified P&L gives 24.1%, while the press-release table gives 21.2%; this should be reconciled in subsequent filings.
Research and educational content only. Not investment advice.