News Broadcasting
Bombay HC to take up Mirchi case
MUMBAI: The Bombay High Court is scheduled to hear Entertainment Network India Ltd (Radio Mirchi)’s petition seeking an injunction against the government from encashing its bank guarantee.
The petition, which was listed for hearing at 2:30 pm, did not come up till 6 pm, information available with indiantelevision.com indicates.
At the time of posting this report, inquiries with FM industry sources could not conclusively ascertain when and if the case was to finally be heard.
ENIL, which runs FM radio station Radio Mirchi, had petitioned the court last week, attempting to get legal cover, while getting the government to accede to its request to get the deadline for payment of license fees postponed. ENIL, which runs FM stations in seven cities in India including Mumbai, Pune, Delhi, Kolkata, Chennai, Indore and Ahmedabad, is scheduled to pay up license fees of over Rs 110 million for Mumbai itself for the third year of broadcast by 29 April.
The legal route is being tried out by Mirchi, as well as other players who contemplate taking the same road, in an attempt to stall payments in the current government’s reign, in the belief that the next government that comes to power after the ongoing Lok Sabha (Lower House) elections, will take a more lenient view of the radio licensing regime.
But government officials say that at this time, it would not be prudent for the government to defer the license fee payment as it would need a cabinet okay, which could be questioned by opposition political parties as the election process is on and the present government is just a caretaker one.
More importantly, officials point out, that if a deferment of the license fee happens, then it may result in financial loss for the government as the total license fee of various players put together amounts to almost Rs 1000 million.
FM broadcasters have been trying to get the government to rationalise the sector by getting a revenue sharing model in place of the license structure. Information and broadcasting minister R S Prasad had hinted in favour of the proposed model during Frames 2004 held in Mumbai in March. The Telecom Regulatory Authority of India, earlier this month, issued its interim recommendations on private FM broadcast. According to the recommendations, FM licensees were given the option of deferring payments, which could fall due till a final decision is taken.
The final recommendations of Trai would address the issue of license fee payable as well as the relevant interest rate. The I&B ministry however, has not taken a decision on the recommendations thus far.
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.
