MAM
Russia to ban ads on C&S pay-TV channels
MUMBAI: Even as broadcasters in India are fighting tooth and nail with the Telecom Regulatory Authority of India (TRAI) to rollback the ad cap regulation that restricts satellite TV channels from airing more than 12 minutes of advertisements per hour, a completely different situation has just cropped up in Russia.
A new bill that has gone through three stages of hearings in one week is just waiting for approval from the President of Russia. The state Duma has passed a bill banning advertising on cable and satellite pay TV channels that will be effective from 1 January 2015. The bill has been created for a level playing field between Russia’s free to air (FTA) cable channels and those that monetise by both ads and subscription.
Channels that are available on a paid basis as well as those that are encoded will be included in the ad ban. National, universally accessible and terrestrial channels will not come under the ban. Last week, a letter was sent by few Russian channels requesting the government to think through before passing a bill of such nature. The letter mentioned that of the 270 C&S channels in Russia, 150 will be threatened due to this bill, leading to an increase in the price of pay TV.
According to reports by Association of Communication Agencies of Russia, advertising revenue from digital and satellite channels last year was just 2.6 per cent of total TV ad market as compared to the rest taken by FTA channels ($ 4.4 billion).
Across the world, the standard rate of advertisement is 12 minutes per hour including the UK, Germany, Ireland, Norway and Argentina.
Zee Russia is one Indian broadcaster that is present in Russia.
Brands
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.
