News Broadcasting
NDTV forecasts faster growth from Q3
MUMBAI: NDTV’s first-quarter net loss from news business has widened over the year-ago period as it increased its employee expenses while revenue dipped on absence of political advertising.
The company, which operates English news channel NDTV 24X7, Hindi news channel NDTV India and business news channel NDTV Profit, suffered a net loss of Rs 241.2 million for the three-month period ended June compared to a loss of Rs 23.9 million a year ago.
Income from operations at Rs 670.8 million fell 12.11 per cent, as against Rs 763.2 million in the year-ago period. In the previous fiscal, revenue had jumped on the back of political advertising due to general elections.
“The first quarter has generally not been good for anybody so far as ad revenue goes. Companies are just walking out of recession and there is an air of caution. We expect a slight improvement in the second quarter and better growth over the subsequent quarters. Our subscription revenue for the first quarter has seen good growth,” says NDTV Group CEO Narayan Rao.
On consolidated basis, the subscription income has gone up 22 per cent to Rs 116 million, as against Rs 95 million in Q1 FY 10 on the back of increased DTH penetration.
NDTV’s expenses jumped 20 per cent to Rs 889.1 million, from Rs 741 million a year ago. This was mainly because of personnel cost, increase in marketing expenses and special bonuses the company awarded to its employees.
The rise in personnel cost even without the one-time expense of bonus and gratuity has been sharp over the trailing quarter.
Explains Rao, “We have got to a headcount that is similar to 2007 – prior to our expansion. That is a good development. Besides, salaries had to be corrected after the recession.”
On a consolidated basis, NDTV has narrowed its net loss to Rs 311.1 million, as against Rs 834.1 million a year earlier. However, the previous fiscal included NDTV Imagine financials, which NDTV sold to Turner International, and is thus not strictly comparable.
Income from operations stood at Rs 835.6 million compared to Rs 1.31 billion a year ago, while expenses were at Rs 269.7 million (from Rs 667.7 million).
The company’s lifestyle channel, Good Times, is performing well. “Good Times should be able to do a revenue of over Rs 650 million this fiscal and is profitably poised. The core news business could remain under a bit of a strain unless ratings improve,” says a media analyst who tracks the company.
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.
