News Broadcasting
Crest Animation’s US subsidiary to partner with ME & LGFE for movie
MUMBAI: Crest Animation Studios and its wholly owned US subsidiary RichCrest Animation are getting into an end-to-end production deal valued at around $2 million for an international 3D direct-to-video feature film.
RichCrest has partnered with Mainframe Entertainment (ME) and Lions Gate to create Arthur’s Missing Pal, a film based on the character created by best-selling author Marc Brown. The animation work will be done by Crest Animation Studios in India while RichCrest will be engaged in pre and post production activities.
“It is a very important project for us as we are involved in the end-to-end production process along with our subsidiary RichCrest. Though this is a work-for-hire project, it will be a step towards bigger film ventures. The deal is worth around $2 million,” Crest Animation chief financial officer Vinayak Purohit tells Indiantelevision.com.
Mainframe Entertainment will co-produce the film. It has also acquired international distribution rights for the all-new CG animated direct-to-video film.
IDT Entertainment Sales (IDTeS) will sell international distribution rights for the film on behalf of Mainframe.
RichCrest Animation will produce the film with Mainframe, along with Marc Brown Studios and WGBH Boston. The film will mark the first time that the beloved aardvark will come to life in 3D CG animation. IDTeS will handle international distribution for Mainframe and will launch the property at Mipcom. Lions Gate Family Entertainment will handle US distribution, with a scheduled delivery of spring 2006.
“The opportunity to be working with such high profile names from the mainstream entertainment Industry is a privilege. This falls perfectly in line with Crest’s laid down objective of associating with the best names in the global entertainment industry while moving up the value chain from delivering to television series to Direct to Home Feature, Gaming and Features,” said Crest Animation Studios chief executive officer A K Madhavan.
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.
