News Broadcasting
Composition of channels under CAS will depend on pricing by broadcasters: INCableNet
MUMBAI: When the cable industry committed on Saturday to provide all channels (pay and FTA) available for a total monthly tab of Rs 222 (exclusive of taxes), the question raised was how did they propose to do it if the broadcasters refused “to play ball”.
The clarification has now come in. Hinduja group MSO INCableNet says it will offer “a full range of genres, including movies, serials, educational programmes, music and news within Rs 222”. The catch “222” is that it does not specify just which pay channels will come at that price. Rajiv Vyas, COO of INCableNet says: “The composition of channels falling in each category will depend on the pricing by the broadcaster and the commercial agreement signed with them.”
In effect this means that if the pay broadcasters “refuse to cooperate”, the subscriber would get only those pay channels that fall within the definition set by the cable service provider. Tag this position along with Zee Telefilms’ demand that Subhash Chandra’s network should be allowed to offer its channels as a complete bouquet gives some idea of just what is the choice being offered at the various “consumer-friendly” prices that are being tom-tommed.
Meanwhile, Vyas indicated that “INCableNet is also considering creating of value packs for the consumers, which will pick out most popular channels from each bouquet and offer them at discounted pricing to allow viewers to get full facet of entertainment at a lower cost.”
Another value add is that INCableNet’s INDigital services will provide electronic programme guides (EPG) that will show clippings of all programmes being shown on the various channels. The EPG will also indicate the programme details such as title of programme, cast etc. Additionally, INDigital is offering pay per view facility that will allow viewers to watch movies, sports, clippings, Bollywood events, etc. in addition to normal programming.
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.
