News Broadcasting
100 per cent declaration unfeasible, says NCTA
MUMBAI: Underdeclaration has been the way out thus far; 100 per cent declaration is an impractical option. CAS is the effective solution in the foreseeable future. That about surmises what the New Delhi-based National Cable Telecommunication Association feels about the cable scenario in the country.
In a presentation at the Consumer Electronics & TV Manufacturers’ Association (CETMA) seminar in Delhi on Thursday, NCTA’s Vikki Chaudhry outlined the independent cable TV operator’s side of the story, supplemented with statistics. If the cable op has to offer 100 per cent declaration to pay channel broadcasters, says Chaudhry, it would cost the subscriber Rs 402, a figure which Chaudhry claims the average subscriber can ill afford.
On the other hand, cutting operating expenditure to accommodate pay channels and taxes means ‘frequent network breakdowns, poor picture quality, inferior distribution equipment and ineffective implementation of effective CAS’. Underdeclaration to pay channels has thus far entailed an average subscription of Rs 225 to Rs 250 per month, offering “commercial viability to the cable op with scope for upgradation and value service additions, but also some disruptions in pay channel services on issues of subscriber under-declaration,” says Chaudhry.
The implementation of CAS, on the other hand, he says, will offer a basic tier at affordable rates to subscribers, more transparency in business with pay TV broadcasters, a level playing field for all players and additional revenue.
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.
