Prime Focus Reports Surge in Q2 Profit as Ramayana VFX Maker Draws Market Focus

Prime Focus Ltd, the parent company of visual effects studio DNEG, posted a consolidated net profit of ₹58.27 crore for the second quarter of financial year 2027, marking a more than 14-fold jump from ₹4.06 crore in the same period last year.

Financial Results

Consolidated revenue from operations grew 35.2 percent year-on-year to ₹1,410.17 crore for the September quarter, up from ₹1,042.89 crore previously, while total income rose to ₹1,446.59 crore. The company also recorded an exceptional loss of ₹2.11 crore in the quarter, which marked a recovery from a net loss of ₹45.78 crore in the preceding June quarter. For the first half of the fiscal year, operating revenue reached ₹2,666.25 crore, though net profit dropped to ₹12.49 crore from ₹114.52 crore a year earlier due to earlier losses.

Stock Performance

Despite the strong quarterly earnings and high profile of the Ranbir Kapoor-starrer Ramayana—for which DNEG is a visual effects partner—Prime Focus shares have faced selling pressure. The stock closed down 1.7 percent at ₹270 on Friday, November 13, and has fallen roughly 11 percent since the film's release. Analysts attribute this weakness to profit booking after shares doubled over the preceding year. Even so, the stock remains up 61 percent over the past year and 244 percent over a five-year period.

Context

Shareholder patterns in Prime Focus have shifted significantly over the past year as foreign investors cut their holdings from 11 percent to under 3 percent and retail shareholding more than doubled. High-profile investors like Ramesh Damani and Madhusudan Kela acquired stakes, and actor Ranbir Kapoor was also allotted shares in the company.