News Broadcasting
Balaji looking at minimum net profit rise of 95% this fiscal
MUMBAI: If last year was a stellar year for Balaji Telefilms Ltd, this year promises to be no less on the financial front. Balaji is targeting a minimum top line target growth of 60 per cent and minimum bottom line target growth of 95 per cent based on the recent revision in the rates of its teleserials on Star Plus and Sony Entertainment.
Balaji’s revenue top line for the 2002 financial was Rs 1,103 million while net profits were Rs 290 million. Considering that Balaji witnessed a net profit rise of a whopping 566 per cent from the Rs 44 million it managed in the 2001 financial, that looks highly achievable for the production house powered by Ektaa Kapoor’s creative chutzpah.
Balaji chairman Jeetendra Kapoor has been quoted as saying the per episode rate his family’s production house charges for Kyunki Saas Bhi Kabhi Bahu Thi on Star Plus is Rs 950,000. Since Star Plus’ other top soap Kahaani Ghar Ghar Ki is running neck and neck with Kyunki it is also in the same rate bracket.
Balaji is charging Rs 1 million per episode for the new weekender serial it has launched on Sony Entertainment Kya Hadsa Kya Haqeeqat. Kyunki and Kahaani run four days a week while Kya Hadsa runs three days a week so that means the revenue it is generating from just three serials is Rs 11.6 million a week.
Add Star’s other top serials Kasauti Zindagi Kay, Kahin Kissi Roz, Sony’s Kkusum and Kutumb, all dailies and what Balaji is earning from these two broadcasters alone can well be imagined.
Balaji’s conscious shift of focus from sponsored to TRP-linked commissioned programmes has certainly proved a real boon for the company on the revenue front.
INCREASE IN FII LIMIT TO 40%: Balaji shareholders at yesterday’s AGM approved a proposal by the board to hike the foreign institutional investor (FII) limit in the company to 40 per cent from the present 24 per cent.
It was on 29 April 2002 that the company promoters sold a 10.11 per cent stake to a host of foreign funds. The stake sale was undertaken at about Rs 600 per share. The promoter’s holding now stands at 57.8 per cent, while the public and institutions hold 4 per cent and 32 per cent respectively. (See related headline: Balaji promoters offload 10% equity to FIIs).
The AGM also approved an earlier decision of the board to split the Balaji share, currently of face value of Rs 10, to Rs 2 per share.
The decision to split the share is to make it easier for small investors to buy equity in the company, it was stated. Existing shareholders will be issued five shares for every share held. The board will fix the record date for effecting the share-split decision.
A final dividend of Rs 2.50 per share was also announced at the AGM.
MANAGEMENT RESTRUCTURING: Rajesh Pavithran, vice president – marketing, was on 21 August re-designated as chief operating officer while Ajay Patadia, company secretary, was re-designated as president – corporate affairs and company secretary.
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.
