News Broadcasting
Depute law officer to probe NDTV tax case, Swamy urges FM
MUMBAI: Rajya Sabha MP Subramanian Swamy has recommended through his Twitter handle that the finance ministry should field a Law Officer with the integrity to challenge NDTV’s income tax case of Rs.525 cr failing which it would have to face protest by him (Swamy.
Earlier, NDTV published what it calls a ‘statement of facts’ on income tax case. NDTV states: This entire issue relates to a blatantly false case. In 2008, GE (USA) invested $150 million in NDTV through their media subsidiary NBC (USA).
Six years later, in 2014, the Income Tax Department of India – without any evidence at all – called this investment a “sham transaction”, thereby accusing GE and NBC of being “fronts” or “name-lenders” for “money-laundering”. The Income Tax Department is in effect accusing the CEOs of GE and NBC of a crime for which, under US law, they will go to jail, if convicted. The CEOs involved in the deal are Jeff Immelt (CEO of GE who has met PM Modi on several occasions, including recently) and Jeff Zucker (former CEO of NBC and now President of CNN).
This behaviour by the IT department is damaging for India and deeply harms the reputation of our country internationally at a time when we are trying to pitch India as an ideal place to do business, NDTV stated.
For the Income Tax Department to call some of the world’s most respected business leader like Immelt and Zucker ‘money launderers’ amounts to what is widely known as “Tax Terrorism”. On this accusation, NDTV is being continuously harassed as part of a concerted effort to silence an Indian media house that has always stood and fought for independent journalism – despite repeated threats and intimidation.
NDTV has appealed against the case. It has not been heard for two-and-a-half years as the income tax authorities have asked for no less than 20 adjournments. Since the first hearing, NDTV has not asked for a single adjournment. It suits the tax department to have this case drag on since it has no evidence of its wild and unsubstantiated allegations. The Enforcement Directorate (ED) has clearly told the Delhi High Court that while complaints against NDTV have been received, the allegations were not supported by even prima facie material, NDTV stated.
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.
