News Broadcasting
Dream11 halts operations in Karnataka after FIR against founders
Mumbai: Online sports platform Dream11 has suspended Karnataka operations of its gaming app Dream11 after its directors were booked under the amended Karnataka Police Act, which seeks to ban online gaming.
Following the filing of a first information report (FIR) against its founders in Bengaluru under the state’s newly legislated Karnataka Police (Amendment) Act 2021, the homegrown sports tech company said in a statement on Sunday, “Following the recent media coverage, our Karnataka users have expressed deep concerns and anxiety for their safety and security. In order to allay our users’ concerns, we have decided to suspend operations in Karnataka.”
The Karnataka Police Act recently amended its gaming law to prohibit online gambling, betting, and wagering. On Saturday, the Bengaluru Police filed an FIR against Dream11 founders Harsh Jain and Bhavit Sheth subsequent to a complaint that the Mumbai-based firm had continued to offer gaming services on its platform a week after the state government notified the new rules disallowing what it termed as “games of chance.”
Dream11 said that the complaint was “motivated” and it is examining legal remedies.
With this, the online gaming platform has joined the likes of Mobile Premier League (MPL), Paytm First Games, Games24X7, and others, which have deactivated their platform for users in Karnataka.
Dream11, however, continues to maintain that it is compliant with all the laws. “We have been advised by the Federation of Indian Fantasy Sports (FIFS), who have shared an opinion from a former Supreme Court Judge, stating that the Karnataka Police (Amendment) Act 2021 does not apply to its member Fantasy Sports Operators. This is because the FIFS format of fantasy sports has been upheld by the honourble courts of India as not amounting to gambling, betting, or wagering,” said the company in a statement.
Karnataka’s new law, which came into effect on 5 October, bans online games that are “games of chance” in nature. It makes operation, abetting, or sheltering of online games involving the exchange of money, betting, and wagering “cognisable and non-bailable offence.”
The move comes at a time when the Indian Premier League (IPL) is underway and the T20 Cricket World Cup is slated to start later this month. These sporting events are crucial for the gaming platforms to drive engagement and acquire new users in what’s a competitive industry.
The Dream11 platform allows users to play fantasy cricket, hockey, football, kabaddi, and basketball on its app. The firm became the first Indian gaming company to enter the unicorn club in April 2019 after an investment took its valuation at over $ one billion.
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.
