Netflix Entertainment Services India reported a net profit of ₹90 crore in the financial year 2025–26, registering a 6% increase compared with the previous financial year. Its total income rose 17% year-on-year to ₹4,477 crore, according to company filings with the Registrar of Companies (RoC).
The financial results show continued growth in Netflix's Indian operating business, although rising expenditure limited the increase in profitability.
Editorial Insight
Key Highlights
Important points readers should notice.
Netflix Entertainment Services India's net profit increased 6% to ₹90 crore in FY26.
Total income rose 17% to ₹4,477 crore.
Total expenditure increased 17% to ₹4,339 crore.
Other expenses rose 17% to ₹4,230 crore.
Personnel expenses increased 13% to ₹99 crore.
Los Gatos Production Services India's net profit declined 42% to ₹105 crore.
Total expenditure at Netflix Entertainment Services India increased 17% to ₹4,339 crore in FY26, compared with ₹3,711 crore in FY25. The growth in expenses broadly matched the increase in total income.
Other expenses, the company's largest expenditure component, rose 17% to ₹4,230 crore. Personnel expenses increased 13% to ₹99 crore during the financial year.
The company's profit growth also slowed compared with FY25, when its net profit had increased 63% year-on-year.
Editorial Analysis
Why This Matters
Netflix's FY26 financial results provide insight into the performance of its Indian streaming business at a time when competition in the OTT industry remains significant. The 17% increase in total income indicates business expansion, while the matching increase in expenditure shows that higher income did not translate into an equivalent increase in profit. The separate financial results of Los Gatos Production Services India LLP also highlight the importance of distinguishing streaming operations from content-related business activities. For the Indian entertainment industry, these figures offer a useful perspective on the financial scale and operating costs associated with digital streaming services.
Subscriber additions were identified as a key contributor to the growth in total income. However, Netflix does not officially disclose its India-specific paid subscriber numbers. Industry estimates cited in financial reporting place its Indian paid subscriber base at approximately 20–25 million.
Separate Production Entity Reports Lower Profit
Separately, Los Gatos Production Services India LLP, Netflix's India-based content production entity, reported a 42% decline in net profit to ₹105 crore in FY26.
Its total income decreased 2% to ₹4,177 crore, while expenditure increased 1% to ₹4,015 crore.
The financial performance of Los Gatos Production Services India LLP represents a separate part of Netflix's Indian operations. Its results should not be treated as a consolidated measure of Netflix's overall performance in India. The entity is involved in the buy-and-sell operations for Netflix's local titles.
The two entities also reported different cash-balance trends. Netflix Entertainment Services India's cash and cash equivalents declined 21% to ₹630 crore, while Los Gatos Production Services India's cash balance increased 31% to ₹1,068 crore.
The FY26 results provide an overview of the financial performance of Netflix's operating and content-related businesses in India, with both entities reporting different profitability trends.
