News Broadcasting
Enter, Rajdeep the entrepreneur!
MUMBAI: NDTV managing editor Rajdeep Sardesai is all set to turn into an entrepreneur. A proposed start-up, led by him, has already been assured of funding by investors.
Broadcast industry sources indicate that after Sardesai finally parts ways with NDTV — a difficult and emotional decision for him still — a new company would be set up, which would deal with various aspects of TV broadcasting, including generating and managing content for a new news channel.
This new venture is also likely to have the services of NDTV CFO Sameer Manchanda, who, according to the sources, is also poised to exit with Sardesai after a long stint.
Though official confirmation is not available, a clutch of investors is likely to back Sardesai. According to the stock market buzz, Television Eighteen Ltd, reportedly, might be one of the strategic investors. The shareholding pattern amongst various investors is yet to be worked out and finalised.
It is also being rumoured that over a longer period of time this start-up might bring into India other TV channels like MSNBC. Various companies related to this development were not available for comments.
Interestingly, news about Sardesai’s exit from NDTV started floating around the stock markets few days back and on Wednesday, TV-18 informed the Bombay Stock Exchange (BSE) that it has decided to seek shareholders’ nod for raising funds, $50 million, from international markets for funding its expansion plans. The mode of raising the money has not been discussed and it could be through the issue of debt instruments or equity-backed instruments or even a mix of the two.
At present, TV-18 runs two channels in India, the English CNBC-TV 18 and the Hindi consumer channel Awaaz. Through another company (headquartered abroad and promoted by Raghav Bahl), South Asia World, a channel catering to the Indian diaspora, is beamed to the UK and the US. There are talks of SAW being brought to India too.
On the other hand, NDTV, which turned a broadcaster in 2003 April, runs three channels, NDTV 24×7, NDTV India in Hindi and the bi-lingual business news channel NDTV Profit. The TV-18 and NDTV scrips closed on the Bombay Stock Exchange on 13 April at Rs 227.40 and Rs. 1833.10, respectively.
According to information available, the TV industry is likely to see several high profile movements with news channels, including newly-launched ones like Channel 7 from the Jagran group, on a poaching spree.
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.
