News Broadcasting
GST ad deferrals hit Network 18 revenue in Q1-18
BENGALURU: The GST implementation resulted in deferral of advertising spends in late Q1-18 (quarter ended 30 June 2017, current quarter) says Network 18 Limited.: While April-May witnessed robust revenue growth, June was substantially impacted by postponement in advertising spends. Nevertheless, The company believe that this is a transitory impact and GST shall drive the informal economy towards the formal channel in the long-run, which will push up advertising spends.
Overall revenue including proportionate share of JVs’ increased 3 percent year-over-year (y-o-y) in Q1-18 to Rs 8,360 million from Rs 8,140 million in the corresponding year ago quarter Q1-17.Segment operating loss (EBIDTA) declined to Rs 510 millon in Q1-18 as compared to Rs 580 million in Q1-17. Revenue as IND-AS in Q1-18 was lower at Rs 3,210 million as compared to Rs 3,520 million in Q1-17. Operating loss as per IND-AS declined to Rs 460 million as compared to Rs 740 million in Q1-17.
Network18 chairman Adil Zainulbhai said,“The digital space in India is witnessing an insatiable appetite for quality content, and Network18 continues to be at the forefront of providing the same in a frictionless manner across genres. We aim to marry vernacular and digital opportunities in India with our strength in linear media to fulfil the rising demand for content that is both targeted and available on-demand.”
Zainulbhai continued, “The industry is navigating through a period of flux in both the advertising environment and the subscription business model; but underlying growth tailwinds are intact and bode well for committed players. We believe that TV18 is well-positioned to capitalize on its strengths in content curation and creation of scalable platforms for seamless delivery. Our commitment to creating value for all our stakeholders is reflected in our continued investments into incubating segmented offerings, and consistently building on our areas of leadership.”
TV 18, the listed subsidiary of Network 18 reported 1.8 percent y-o-y decline in consolidated revenue in Q1-18 to Rs 2,170 million from Rs 2,210 million. TV18’s. TV18 owns and operates the largest network of channels – 49 in India spanning news and entertainment. It also caters to the Indian diaspora globally through 13 international channels. The company says that revenue growth from business news boosted TV18 standalone operating EBITDA. However, regional news witnessed softness in revenues and low profitability due to gestation losses. Entertainment revenues were aided by strong performance in niche genres and strength of the bouquet, it adds.
TV18 posted consolidated revenues of Rs. 6,280 million (including proportionate share of JVs) in Q1FY18, a 4 percent y-o-y growth. Profitability improved mildly, driven by business news performance and helped by steady ramp-up of the multiple new initiatives undertaken in Q1-17.
Tv18’s Total Expenditure in Q1-18 increased 2.9 percent y-o-y to Rs 2,520 million from Rs 2,450 million.TV 18’sEmployee Benefits Expense in the current quarter increased 23.4 percent y-o-y to Rs 950 million from Rs 770 million. TV 18’2 Finance costs declined 20 percent y-o-y in Q1-18 to Rs 40 million from Rs 50 million.
TV18’s Other expenses in Q1-18 declined 13 percent to Rs 870 million from Rs 1,000 million.TV 18’s Distribution, advertising and business promotion expense reduced 3.8 percent y-o-y in Q1-18 to Rs 510 million from Rs 530 million.
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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.
