News Broadcasting
Govt. re-visits issue of Trai mandate over broadcast sector
NEW DELHI: Even as the Telecom Regulatory Authority of India (Trai), the broadcast and cable regulator, takes it own sweet time to come out with recommendations on various industry issues, the government is checking out whether the mandate given to the organisation is legally valid or not.
According to information and broadcasting ministry sources, bureaucrats have got indications from I&B minister Jaipal Reddy to see whether authorising Trai as the broadcast and cable regulator – a move undertaken by the previous government – is legally valid. If one reads this from the flip side, it also means that Reddy is looking at ways to take powers back from Trai.
The latest moves come at a time when Trai is being increasingly accused of taking important decisions late or delaying the whole process, which has resulted in keeping in limbo the broadcast industry.
Take, for instance the case of the price freeze on cable subscription prices mandated by Trai, effective from 26 December. It is almost six months now since the directive came from the regulator and even now the recommendations related to conditional access system (Cas) are awaited by the industry.
As one broadcaster pointed out, “The whole chain is getting delayed because Trai has not been able to put out anything on the issue till date, except hold discussions and have some market surveys and research work produced. Because Trai’s recommendations would not be the final word, as the government would have to take a final call, every passing day is adding to the financial burden of industry players.”
Apart from having IMRB conduct a survey on Cas, Trai had also commissioned the Hong Kong-based Media Partners Asia, a research agency, to undertake a study of the India market vis-?-vis the global scenario. Both the agencies have submitted their reports.
Though Trai had said that it would come out with a series of recommendations in July, it now transpires that this may happen only towards the end of the month as the regulator grapples with complex issues of an industry that has grown sizably. The cable industry itself is estimated to be generating revenues worth Rs 16 billion.
But the government too, is hampered by ground realities. Wish as much he may, even Reddy knows that his dream of bringing about a separate broadcast regulatory authority cannot come true immediately. Ministry sources indicate that work on a new broadcast bill is in progress, but a new Bill is unlikely to be introduced in Parliament before the winter session, which would mean the third quarter of 2004.
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.
