Kuku reports Rs 1,484 crore FY26 revenue as marketing spend hits Rs 1,105 crore

Kuku Technologies reported FY26 operating revenue of Rs 1,484.2 crore and profit before tax of Rs 88.6 crore. Marketing and advertising spending reached Rs 1,105 crore ahead of its proposed Rs 3,500 crore IPO.

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The numbers

FY26 net profit: Rs 182.7 crore
FY26 deferred tax benefit: Rs 98.1 crore

Why it matters to operators and investors

Ahead of the proposed Rs 3,500 crore IPO, scrutinize marketing efficiency and earnings quality: Rs 182.7 crore net profit includes a Rs 98.1 crore deferred tax benefit, versus Rs 88.6 crore profit before tax.

What to watch next

  • An IPO filing disclosing customer retention and acquisition economics
  • Marketing spend as a share of revenue versus 74.5%
  • Revenue growth alongside any moderation in marketing spending
  • Pre-tax earnings and operating cash flow in the next results
  • An announcement changing the proposed IPO's size or timing