News Broadcasting
FM news pumps up volume on media scrips
MUMBAI: Media stocks climbed steeply on Thursday, with companies involved in FM radio broadcasting the biggest advancers.
The government today allowed the FM radio sector to migrate to the revenue sharing model while opening up foreign direct investments (FDI) to 20 per cent, triggering an interest in media companies that were into such ventures.
Mid-day Multimedia was the top gainer, moving up 14.21 per cent from an opening of Rs 63.70 to close the day at Rs 72.75. The company has interests in a tabloid and runs a private FM station in Mumbai Go 92.5 FM.
TV Today Network jumped 9.43 per cent during the day, closing at Rs 81.85. The Group company operates FM stations in Mumbai and Delhi under the brand name Red FM.
Adlabs Films hit the 20 per cent circuit breaker, fuelled by the news that Reliance Capital group company was acquiring 51 per cent controlling stake for Rs 3.5 billion. The scrip opened at Rs 200 and closed at Rs 240.60.
NDTV Ltd gained 6.77 per cent to close at Rs 227.10 while TV18 saw a 2.34 per cent rise to Rs 316.80. Zee Telefilms witnessed a weak rally, rising 1.50 per cent to close at Rs 155.60. Balaji Telefilms rose 3.81 per cent to Rs 107.50 while K Sera Sera went up 1.63 per cent to Rs 84.30.
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.
