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FM Nirmala Sitharaman unveils the 31 anniversary issue of Business Today
Mumbai: Business Today’s 31 Anniversary issue cover is the first ever Artificial Intelligence (AI) software generated cover, and it is set to set a new trend. Google CEO Sundar Pichai’s AI created avatar graces the cover of the issue, which includes an exclusive interview decoding Google’s India Strategy and how AI will soon eclipse the Internet and mobile.
During the India Today Business Today budget roundtable in Delhi on February 6, finance minister Nirmala Sitharaman unveiled the special cover and the 31st Anniversary edition of Business Today. Sitharaman also launched BTMag.in, the website’s special magazine section, alongside the anniversary edition.
The ‘Mission 2047: The Road to India@100’ edition of Business Today examines India’s path to 100 years of independence. To commemorate its 31st year of publication and market leadership, Business Today published a 300+ page special anniversary issue with 125+ pages of advertisements.
The 31st Anniversary issue of Business Today features an AI generated cover and articles that go into great detail about the prospects of a wide range of sectors, including production, banking and finance, stock markets, energy and power, information technology services, new ventures, micro, small and medium sized enterprises and many more.
Outlining the vision of India’s path to 100 years the issue features in depth pieces, and guest posts from the titans of Indian business including Ajay Piramal, Punit Renjen, Naina Lal Kidwai, TV Narendran, Pawan Munjal, Anish Shah, Amitabh Chowdhury, Keki Mistry, SN Subrahmanyan, Anjali Bansal, Sandip Patel, Kris Gopalakrishnan, TV Mohandas Pai, Roshni Nadar, Pawan Goenka, Kunal Shah, Deep Kalra, Kiran Mazumdar Shaw, SS Rajamouli, GR Gopinath, KV Subramanian, Rajeev Chandrasekhar and Patu Keswani.
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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.
