News Broadcasting
BBC launches new style Annual Report
MUMBAI: The BBC’s Board of Governors have published a new style Annual Report and Accounts. This is the first step it has taken in implementing the new governance arrangements.
In the report the Governors said that the management must offer quality programmes and services to licence payers that represent value for money. BBC Chairman Michael Grade said, “Traditionally the Annual Report and Accounts has been as much about marketing the BBC as holding it to account and as much about management’s view of its own performance as about the Governors’ view of management’s performance.
The Governors have requested the management to focus in particular on improving the efficiency of production processes. They noted that steady progress has been made, but added that a lot more could be achieved: “The BBC must now set itself more stretching efficiency targets if it is to deliver licence payers the best possible value for money”.
The report added, “The key challenge lies in improving the efficiency of production processes. Progress here particularly in terms of benchmarking production costs has not been as rapid as we had expected.”
Last year, the rate of licence fee evasion was driven down to 5.7 per cent, from 6.7 per cent. The cash-flow from the commercial subsidiaries increased by ?11 million to ?135m; and additional savings of ?29.3m were made in support costs.
Efficiency savings, together with the recently announced sale of BBC Technology to Siemens should enable the BBC to exceed its cumulative ?3.3bn self-help target by 2006/7.
On the programming front the Governors expressed concern about a decline in audience perceptions of the quality of BBC output over recent years. This finding contrasts with both the increased reach of BBC Television and research indicating that audiences believe the BBC offers the best quality in the majority of genres.
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.
