News Broadcasting
Fortune becomes World Lottery Association member
MUMBAI: The Essar backed Fortune Online Lottery has joined the World Lottery Association (WLA) as a full-fledged member.
The World Lottery Association represents 143 lotteries from 74 countries on all five continents, with combined annual revenues in excess of US$ 103 billion. As a full-fledged member of the WLA, Fortune will now represent India at this global platform for lottery operators across the world, according to an official release.
Fortune is promoted by CAIRS Computer Aided Information Research services (P) Ltd, in association with the Essar Telecom Group. CAIRS has the sole distribution rights for computer lottery organised by the Government of Nagaland. Fortune, claims the release, is backed by latest technology on all fronts – hardware, communications and software from its technology partner Editec – a European based online lottery firm and a leading supplier of on-line computerized wagering systems with worldwide operations.
Says Fortune’s COO Zeev Leshem, “Membership to the WLA is a step towards benchmarking ourselves with the global leaders in lotteries. As a privileged member of the WLA, we would now be able to coordinate with lotteries across the world, sharing information and insights on games as well as lottery operations’. In our efforts to devise better games and entertainment value for our consumers, the WLA will help us gain exposure with best of breed practices thus helping us enhance our product offerings.”
The WLA has been at the forefront in identifying lottery trends across the world. Its forums on lottery related issues such as security and risk management have been well received by members and industry experts across the world. The WLA advertising awards and comprehensive reports on specific markets have set the standards for industry analysis in the lottery domain.
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.
