News Broadcasting
ADAG-Reliance to focus on movie, radio operations; work on DTH goes `slow’
MUMBAI: Anil Ambani’s Reliance group has decided to concentrate on movie and FM radio businesses in the media and entertainment sector for the time being instead of DTH television service.
A top source in the group admitted that plans to start a DTH service in the country are going “slow”.
Anil Dhirubhai Ambani Group (ADAG) had applied for a DTH licence under the brand name Reliance Bluemagic, which is yet to get all governmental clearances.
A recent failure of Indian Space Research Organisation (ISRO) to put a new generation communication satellite in orbit could also have some bearing on Ambani’s go-slow approach as far as DTH is concerned, a media industry analyst opined.
ISRO’s recent failure has also put a question mark in the short term over Sun TV group’s plans to start a DTH service in the absence of transponder space on India satellites, which is a pre-requisite government norm.
Sources in the Ambani-controlled ADAG also confirmed that present focus is on movie and radio business where scales of operation need to be ramped up considerably.
Anil has controlling holding in Adlabs Films, which was started by film industry veteran Manmohan Shetty who still looks after the business.
In recent times, Adlabs has signed up with several successful directors like Ram Gopal Verma and Kunal Kohli for a string of film productions over the next 24 months.
Acquisition of some existing production houses could have been an easy way out for Adlabs to increase scale of operations, but existing big production houses are not in sale mode at present, media analysts observe.
According to industry sources, Adlabs is looking at co-productions of films, bagging overseas distribution rights for big ticket Hindi movies, Indo-foreign country co-productions and ramping up the number of multiplex within the Adlabs fold so in future digital distribution of films could add some jazz to the business.
Meanwhile, Reliance Radio, helmed by former Sony India honcho Tarun Katial, has started fine-tuning its operations for a flag off.
Sources said that over the next 45-60 days a spate of private radio FM stations, which got licence in the second phase early this year, are likely to start operations. This would include Reliance’s stations too.
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.
