News Broadcasting
15 months after arrest, apex court grants bail to Bharat Shah
Fifteen months after big-time film financier and diamond trader Bharat Shah was incarcerated due to his alleged connections to the underworld, the Supreme Court garanted him bail yesterday.
Shah was arrested on 8 January 2001 for his alleged links with underworld mafia don Chhota Shakeel under the Maharashtra Control of Organised Crime Act (MCOCA).
The Supreme Court directed Shah to furnish a bail bond of Rs 100,000 and two sureties of like amount and directed him to surrender his mobile phone to investigating agencies. Shah’s passport, which was surrendered to the trial court, will not be released without the court’s permission.
The Supreme Court has ordered an expeditious trial in the case.
At that time of his arrest, the Mumbai police exposed his alleged connections with Pakistan-based gangster Chhota Shakeel in the making of the film Chori Chori Chupke Chupke.
Shah’s links to B4U Multimedia, in which he had a 92 per cent stake, forced B4U to transfer all its assets and functions to another group company B4U Television Networks on 1 April 2001.
Shah holds no equity in B4U Television networks. B4U Multimedia was in fact another name for Shah’s own company VIP enterprises and had been promoted to further the B4U’s plans to come out with an IPO.
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.
