News Broadcasting
Full text of Greg Dyke’s statement
MUMBAI: Given below, is the full text of the statement made by the BBC director-general on the Hutton report:
“Dr Kelly’s death was a tragedy for his family and again we offer our sincere condolences to them.”
“We note Lord Hutton’s criticisms of the BBC. Many of these relate to mistakes which the BBC has already acknowledged in its submissions to the inquiry and for which we have already expressed regret.
“Thanks to the process of Lord Hutton’s inquiry we now know more about the evolution of the September dossier.
“The BBC does accept that certain key allegations reported by Andrew Gilligan on the Today programme on May 29 last year were wrong and we apologise for them.
“However, we would point out again that at no stage in the last eight months have we accused the prime minister of lying and we have said this publicly on several occasions.
“The dossier raised issues of great public interest. Dr Kelly was a credible source. Provided his allegations were reported accurately, the public in a modern democracy had a right to be made aware of them. The greater part of the BBC’s coverage of the dossier fulfilled this purpose.
“We have already taken steps to improve our procedures. A new complaints and compliance structure has been put in place under the deputy director-general. We have a new set of rules for BBC journalists who wish to write for newspapers or magazines and we will be publishing revised editorial guidelines.
“There are other findings in the report, including those about the dossier, which we will consider carefully.
“The BBC governors will be meeting formally tomorrow and will give further consideration to Lord Hutton’s report. No further comment will be made until after that meeting.”
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.
