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Philip I Kent rejoins TBS as chairman and CEO
CALIFORNIA: Philip I Kent, a veteran senior executive at Turner Broadcasting System who last served as President of the CNN News Group, has rejoined Turner as its Chairman and Chief Executive Officer. He will report to the chairman of AOL Time Warner’s Entertainment & Networks Group, Jeffrey Bewkes.
Jamie Kellner, who has led Turner for the past two years in Atlanta, will return to California and continue as Chairman and CEO of the WB Network till the end of his employment agreement in the summer of 2004.
Kent will lead the CNN News Group; Turner’s entertainment networks, including TNT, TBS Superstation, Cartoon Network, Turner Classic Movies, Turner South and Boomerang; and Turner Sports, as well as the Turner Sports properties, which include the Atlanta Braves, Hawks and Thrashers and Philips Arena. He will begin to work immediately with Kellner on a transition plan and then formally take over as Turner’s Chairman and CEO on 10 March.
Kent brings a wide range of professional experience to his new position and has earned a strong reputation as a leader and team builder throughout Turner. As President of TBS International, he was instrumental in shifting the international strategy of the Turner news and entertainment networks toward a more regional and local focus. He was charged with overseeing Turner’s wide-ranging business activity in Asia, Europe and Latin America, including all sales, distribution, business development, joint partnerships and business alliances outside of the United States.
At CNN, he was an early architect of many of the news group’s current strategic initiatives and was instrumental in the recruitment and retention of key on-air and executive talent. Through his varied career in television, Kent has worked effectively with a full range of customers and constituents of TBS – entertainment and journalism talent, cable and satellite operators and advertisers throughout the world, as well as a diverse and multicultural workforce.
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Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
