News Broadcasting
Network18 gets independent directors’ approval for open offer
MUMBAI: A day after TV18 got the nod by the Committee of Independent Directors (IDC) for the open price offer, now even Network18 Media and Investments has got the approval from the IDC for the open price offer made by the Independent Media Trust (IMT).
The green signal for the open price offer was given by IDC chairman Manoj Mohanka and its member Hari S Bhartia.
The offer was made by IMT along with Reliance Industries (PAC1) and Reliance Industrial Investments and Holdings (PAC2) to the public shareholders of Network18 to acquire up to 22,99,46,996 equity shares at a price of Rs 41.04 per share. The manager to the offer is JM Financial Institutional Securities.
The announcement was made through a statement on BSE. “IDC believes that the open offer is fair and reasonable and in line with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011,” says the statement submitted to the BSE.
The approval for the open offer was made after the IDC reviewed (a) the public announcement in connection with the offer dated 29 May 2014 issued on behalf of IMT and the PAC’s public announcement; (b) the detailed public statement in connection with the offer published on behalf of IMT and PAC’s on 5 June 2014 and (c) the draft letter of offer (DLOF) dated 11 June 2014.
The offer price, according to the IDC, is higher than the volume weighted average price of the equity shares for a period of 60 trading days immediately preceding the date of public announcement. The IDC also sought external financial advice from Price Waterhouse & Co which advised that as of 29 May 2014, the offer price pursuant to the offer is fair and reasonable from the financial point of view.
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.
