News Broadcasting
Listed media stocks rise prior to budget
MUMBAI: Media scrips rebounded today and beat the downturn which they have been witnessing recently. In Budget 2003-4, the positive impetus for the media sector is likely to come from the drop in the duties of set top boxes, say analysts. The marginal tax rate change will not impact the listed entertainment companies are already paying taxes at this rate.
On the Bombay Stock Exchange (BSE), the Zee Telefilms scrip opened the day at Rs 81; climbed to Rs 83.25 – up 2.78 per cent. A total of 595,571 shares were traded. The P/E ratio is 24.77 and the EPS at Rs 3.35. The scrip bucked a five-day losing trend today and is expected to benefit from the budget related announcements and post conditional access system implementation.
On the National Stock Exchange (NSE), the scrip opened at Rs 80.65; rose 2.71 per cent to end the day at Rs 83.40. The total volume traded was 1,315,739.
On the BSE, the Balaji Telefilms scrip opened the day at Rs 81; climbed to Rs 73.95 – up 2.57 per cent. A total of 13,529 shares were traded. On NSE, the scrip opened at Rs 72.20; rose 2.56 per cent to end the day at Rs 74. The total volume traded was 54,073.
In its report dated 18 February 2003, Investment bank Merrill Lynch had maintained its `buy` rating on media major Balaji Telefilms due to its share of programmes in the Top 100 list.
DSP Merrill Lynch’s report says that the conditional access scenario (CAS) would lead to premium pricing for Balaji`s channel-driver branded content. The main growth drivers would be high value weekend programming and continued strong ratings of existing on-air shows
On the BSE, the Mukta Arts scrip opened the day at Rs 61; climbed to Rs 61.40 – up 0.66 per cent. A total of 23,308 shares were traded. On the NSE, the scrip opened at Rs 60.25; rose 0.49 per cent to end the day at Rs 60.30. The total volume traded was 39,654.
On the BSE, the Television Eighteen scrip opened the day at Rs 60.45; climbed to Rs 60.95 – up 0.83 per cent. A total of 6,067 shares were traded. On the NSE, the scrip opened at Rs 60.90; rose 1.75 per cent to end the day at Rs 61.20. The total volume traded was 15,832.
On the BSE, the Cinevista scrip opened the day at Rs 26.65; climbed to Rs 26.80 – up 0.56 per cent. A total of 2,200 shares were traded. On the NSE, the scrip opened at Rs 27.20; fell to Rs 26.00. The total volume traded was 2,105.
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.
