News Broadcasting
Network18 reports improved numbers for Q1
BENGALURU: Network18 Media & Investments Ltd (Network18) reported year over year (y-o-y) growth in consolidated operating revenue for the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to the year ago quarter (Q1 2018). The company reported consolidated operating profit (EBITDA) of Rs 18 crore in Q1 2019 as compared to a loss of Rs 2 crore during the corresponding year ago quarter. Consolidated operating revenue grew 10 percent y-o-y during the quarter under review to Rs 1,124 crore from Rs 1,025 crore in Q1 2018 on a comparable basis.
Network18 chairman Adil Zainulbhai said: “We have begun the new fiscal with improved viewership across our portfolio, which shall be the foundation for our growth plans. We continued investments in regional news and entertainment and in digital. We continue to see opportunities in the media space.”
TV18 Broadcast Limited
TV18 Broadcast Ltd (TV18) is the listed Network18 broadcast subsidiary and the largest contributor to its numbers. Its consolidated revenues increased 11.1 percent y-o-y in Q1 2019 to Rs 1,088 crore from Rs 979 crore. TV18 consolidated operating profit (EBITDA) almost tripled (2.79 times) y-o-y to Rs 39 crore in Q1 2019 as compared to Rs 14 crore.
TV18’s growth in revenue was led by Viacom18 and Indiacast revenue for which climbed by Rs 73 crore (a little less than 10 percent) y-o-y during the quarter under review to Rs 832 crore from Rs 759 crore. The company’s business and general news had revenue growth of 14 per cent (Rs 20 crore) y-o-y in Q1 2019 at Rs 173 crore as compared to Rs 153 crore. Regional news (Ex Lokmat) and infotainment had revenue growth of 24 per cent (Rs 16 crore) during the quarter under review at Rs 83 crore as compared to Rs 67 crore in Q1 2018.
In its investor update, Network18 says that TV18’s subscription revenue increased 10 percent y-o-y during the period under review to Rs 301 crore from Rs 273 crore in Q1 2018.
Growth in operating profit (EBITDA) was led by business and general news with 25 per cent (Rs 7 crore) y-o-y growth at Rs 35 crore in Q1 2019 as compared to Rs 28 crore in Q1 2018. Viacom18 and Indiacast had 13 per cent y-o-y growth in operating profit at Rs 26 crore from Rs 23 crore in Q1 2018. Operating loss of regional news (Ex Lokmat) and infotainment declined to Rs 22 crore in Q1 2019 from operating loss of Rs 37 crore.
The numbers mentioned above have been obtained from TV18’s Investor update. It may be noted that Viacom18 and Indiacast became subsidiaries of TV18 from 1 March 2018. Hence, reported financials of TV18 consolidate these entities only from that date. Other y-o-y numbers are not comparable.
“Our television channels reach out to 700 million people across the country, making every 1 in 2 Indians our consumer. We have 53 domestic channels across news and entertainment, making us a formidable player. The improving advertising environment and our rising viewership are positives, as we continue investing into growing our offerings across genres,” said Zainulbhai in a TV18 investor update.
Network18 Digital, Print and others
Network18 Digital, Print and others revenue declined 22 per cent y-o-y in Q 2019 to Rs 36 crore from Rs 46 crore in the year ago quarter. Operating loss (EBITDA) increased to Rs 21 crore from Rs 16 crore.
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.
