Amagi net profit surges to Rs 34 Cr in Q1

Amagi, a Bengaluru-based SaaS company specializing in the media and entertainment sector, announced a remarkable surge in net profit for the first quarter of FY27. The company reported a net profit of Rs 34 crore, a significant increase from Rs 4 crore in the same period last year. This growth was accompanied by a remarkable year-on-year revenue growth of 32.4%, totaling Rs 437 crore during the quarter.

Amagi CEO Baskar Subramanian highlighted that the company's flagship AI product, Amagi NEWSPULSE, has already secured a major customer in a US news network, indicating the growing adoption of AI in the industry.

Amagi's growth is primarily attributed to customers expanding their usage of the platform and the increasing adoption of cloud-native streaming, monetization, and broadcast workflows. The company's 10 largest customers contributed 40.8% of Q1 revenue in FY27, reflecting the company's focus on expansion within existing accounts. These top customers have an average tenure of 4.8 years, demonstrating long-term commitment to Amagi's platform.

Amagi's cash reserves stood at Rs 1,616 crore, representing an impressive 118% year-on-year growth, with no debts on the balance sheet.

Subramanian emphasized the company's commitment to durable growth, expanding operating leverage, and disciplined execution as it continues to scale. He noted that artificial intelligence has moved from the planning stages to implementation, with over 10 pilots currently running globally. Despite this impressive performance, Amagi remains focused on capturing a larger share of the estimated $17 billion opportunity in the media industry cloud, driven by the reconfiguration of the industry towards its solutions.