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Ernst & Young announces new leadership in India
NEW DELHI: A new leadership for Ernst & Young in India was decided at a meeting of the firm’s partners. The impending retirement of chairman and country managing partner (CMP) Kashi Memani will retire next year.
The partners unanimously elected Jairaj Purandare as the firm’s chairman and Rajiv Memani as the new country managing partner and CEO. Both these new positions take effect from 1 April 2004.
An official release informs that prior to the integration of Arthur Andersen and Ernst & Young in May 2001 Purandare was the national tax head for Andersen. Rajiv currently leads Ernst & Young India’s corporate finance practice. Ernst & Young Global’s COO Paul Ostling added, “With its immense intellectual talent and the emergence of Indian enterprise at the global level, we see tremendous potential for our Indian practice.
” The global executive board of Ernst & Young offers its complete support to the firm in India. We are confident that the new leadership will sustain and further grow the firm’s number one position in the country.”
Memani added, “The direction of Ernst & Young Global, support of our clients and the commitment of our people, has today made us the number one professional services firm. The partners in our new leadership have demonstrated their capabilities having successfully managed and led our different service lines over the years. With the economy on a growth track, I am certain that the new team will infuse energy and youthful vigour to help maintain our lead in the marketplace.”
Ernst & Young offers assurance and advisory business services, tax advisory, corporate finance and transaction services.
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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.
