News Broadcasting
NDTV Q2 net loss widens as revenue slips
MUMBAI: NDTV has widened its second-quarter net loss from the news business as revenue has slipped, but forecasts a strong recovery in the three-month period running to December as advertising spends rise on account of a prosperous festive season.
The company, which runs English and Hindi news channels NDTV 24X7 and NDTV India, has posted a net loss of Rs 342.7 million compared to a loss of Rs 118.5 million in the earlier year.
Income from operations for the quarter under review slid to Rs 656.5 million, down 8.39 per cent as compared to the year-ago revenue of Rs 716.6 million.
Operating loss (from operations before other income, interest and exceptional items) stood at Rs 298.3 million, as against Rs 75.8 million in the previous year.
“It has been a bad quarter generally for everybody in the news business from a revenue perspective. In the earlier year, some stability had come into the market in the second quarter. But the good news is that there seems to be a strong recovery in the third quarter coinciding with the festive season,” says NDTV Group CEO KVL Narayan Rao.
NDTV‘s standalone expenses rose 22.05 per cent to Rs 982 million, mainly due to distribution expense. “Overall, costs are under control. The quarter saw a rise mainly on account of distribution expense,” explains Rao.
Meanwhile on a consolidated basis, NDTV’s net loss narrowed to Rs 676.3 million, from Rs 855.9 million in the year-ago period. However, the consolidated results for the year-ago period include the results of operations of Turner General Entertainment Networks (formerly NDTV Imagine) and its subsidiaries in which NDTV Group had diluted its holding to a minority stake on 23 February 2010. Thus, the company clarified that consolidated results for the quarter ended 30 September 2010 are not comparable with the corresponding previous period.
Income from operations was at Rs 784.8 million, down from Rs 1.43 billion, while total expenses reduced from Rs 2.12 billion to Rs 1.44 billion.
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.
