News Broadcasting
NDTV wins 2007-2008 tax appeals case
MUMBAI: Delhi-based news broadcaster the Prannoy Roy-headed NDTV has been caught up in a legal tangle with the income tax (IT) department for sometime. Last week, the income tax appellate tribunal (ITAT) ruled in its favour on tax matters related to assessment years 2007-2008 and 2008-2009.
The ITAT said that NDTV need not pay tax on additional amount of Rs 22.09 crore which the department wanted to add to its taxable income. The ITAT rejected this claim entire amount, with the exception of Rs 12 lakh.
The ITAT also allowed directed the IT department to allow it higher ESOP expenses of Rs 43.55 crore, against the earlier claim of Rs 21 crore. This has reduced the tax liability for NDTV for that period even further.
NDTV won the ITAT’s nod on another ground too: it agreed that the company had correctly disclosed its international transactions with its associated enterprises including the provision for shareholder services on which no markup is required to be charged under transfer pricing regulation and negated the claim of the IT department of charging a notional markup on such services. Consequently, NDTV has got a tax relief to the tune of Rs 82.35 lakh in this regard.
NDTV has other cases from IT department pending for other assessment years.
The company notched up a loss of Rs 38 crore in its latest financial filings for Q1 2017 on a topline of Rs 115 crore.
Its share was trading at Rs 78 odd at the close of trading last week.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
