News Broadcasting
ESS switches off InCableNet in Mumbai
MUMBAI: It’s just not cricket. Just as subscribers of Hinduja Group MSO InCableNet were warming up to the One-Day cricket contest going on between India’s “Men in Blue” and the mighty Aussies, their screens went blank.
ESPN Star Sports switched off its signals to InCable around an hour ago after talks between the two parties finally broke down over the issue of payment.
Speaking to Indiantelevision.com, an InCable spokesperson said that while all the terms were agreed upon, including an increased declaration in subscription base, the broadcaster was “making unreasonable demands” over the monthly payouts. “Major advances were being asked for which are unheard of in the industry. All the other terms were agreed upon by us. It was at the monthly payout module stage where the talks broke down. The switch-off will only affect Mumbai,” the spokesperson added. An ESS spokesperson also confirmed that as of now, the switch-off only affected Mumbai.
The situation last evening was quite different when , InCable officials had expressed confidence that a deal would be reached when talks resumed this morning. ESS affiliate sales VP Srichand Iyengar had said that while an agreement had been reached with InCable on most issues a sticking point still remained over the demand by the sports broadcaster for payment guarantees. It appeared that ESS was seeking either bank guarantees or letters of credit that could be encashed in the event of payments not coming through.
Even while only Mumbai is affected as of now, there is still the possibility that it may spread to all centres in the country where InCable has a presence. This is because the discussions that were going on were aimed at reaching a comprehensive agreement applicable across the country.
Since no deal has been reached, InCable subscribers in other centres like Delhi, Baroda, Ahmedabad, Bangalore, Indore, Nagpur, Hyderabad, etc might well be affected in due course.
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.
