Mohalla Tech, the parent of social media platforms ShareChat and Moj, reported a consolidated net loss of ₹1,978.4 Cr for the financial year ended March 2026, up 78.5% from a year earlier. Operating revenue rose 40.4% to ₹1,016.3 Cr from ₹723.4 Cr in FY25.
Total expenses climbed 65.6% to ₹3,083 Cr from ₹1,862.1 Cr. Employee benefit expenses more than doubled to ₹959.5 Cr, driven by share-based payments that rose 302% to ₹739 Cr following a larger ESOP pool and additional grants to key employees. Forex losses rose to ₹566.9 Cr from ₹128 Cr, mostly unrealised, as the rupee weakened against the dollar. Management said the loss was largely driven by non-cash and notional items, including interest provisions on hybrid debt.
Operationally, the company said its FY26 EBITDA loss narrowed 58% to ₹91 Cr. It recorded its first EBITDA-positive quarter in Q1 FY27, with a profit of ₹9.5 Cr and a 0.3% margin, and said the margin rose above 2% in Q2 FY27.
Subscriptions, which cover QuickTV and Moj's paid tiers, contributed ₹292.7 Cr, nearly 30% of revenue. QuickTV, a microdrama platform, launched in February 2025 and has been downloaded more than 5 Cr times on Google Play. Advertising revenue fell 13% to ₹251.8 Cr after real money gaming advertisers stopped spending. Livestreaming revenue grew almost 9% to ₹471.8 Cr.
For FY27, Mohalla Tech is targeting an EBITDA profit of ₹25 Cr, including at least ₹15 Cr in the second half. It reported about ₹740 Cr in revenue in H1 FY27, with a Q2 annualised run rate of roughly ₹1,500 Cr. It expects advertising revenue to grow 40% and AVOD revenue to pass ₹350 Cr, against ₹160 Cr in the first half. It gave no subscription forecast and did not disclose first-half profit.
The company said acquiring a Moj user costs about ₹14-15 per download, while a paying QuickTV subscriber costs hundreds of rupees. It estimates rivals may spend over ₹1,000 per subscriber.
