News Broadcasting
Bharat Shah convicted under IPC by special court
MUMBAI: Film financier Bharat Shah, formerly co promoter of B4U Entertainment, has been convicted under the Indian Penal Code by a special court “for conniving with the underworld and targeting Bollywood personalities for personal gain.”
The flamboyant Shah, last spotted by the media at filmstar Karisma Kapoor’s wedding in Mumbai yesterday, was found guilty under section 118 IPC (concealing design to facilitate crime) read with 387 IPC (extortion), says a PTI report.
However, the court acquitted him of the charges under Maharashtra Control of Organised Crime Act (MCOCA) due to `doubtful evidence but convicted him on other counts. The judge gave Shah the benefit of doubt as the ‘panchnama’ (a certificate signed by five persons) drawn by police to record the alleged telephonic talk between him and Shakeel on October 27, 2000, was “doubtful”, according to agency reports.
Shah was convicted along with producer Nasim Rizvi and his assistant Abdul Rahim Allah Baksh.
Justice AP Bhangale acquitted co-accused and Dubai-based businessman Mohammed Shamshuddin alias Bhatija of the charges for lack of evidence. The court will decide on the quantum of punishment after hearing all parties tomorrow, says the PTI report.
Both Shah and Rizvi were first arrested in January 2001 for their alleged links with underworld don Chhota Shakeel in the production of the Bollywood potboiler Chori Chori Chupke Chupke and conspiring with him to kill film personalities. Shah was the financier of the film. Shah has been disassociated with B4U ever since.
While B4U was initially floated by Shah, industrialist Kishore Lulla and UK based steel magnate Lakshmi N Mittal, Mittal had withdrawn his stake from the entertainment network after Shah’s arrest in 2001.
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.
