News Broadcasting
Prasar Bharati exempt from service tax
In what should come as a relief to pubcaster Prasar Bharati, the Solicitor General of India has clarified that Prasar Bharati need not pay service tax.
It may be recalled that when finance minister Yashwant Sinha presented his budget he had proposed that the pubcaster should be made to pay “since it is a commercial organisation, Prasar Bharati does not need the exemption from the five per cent service tax.”
Following this, Prasar Bharati referred the matter to the information & broadcasting ministry, which in turn sought the solicitor general’s directive on the matter through the law ministry.
Meanwhile, in an unrelated development, the Standing Committee on Information Technology has reportedly criticised the I&B Ministry over its slow completion of projects. The committee slammed the ministry’s tendency to “wake up” to the need to use budgetary allocations towards the end of the financial year. Timely completion of projects will ensure that the public derives the full benefits of broadcasting/telecasting services, the committee said.
The committee noted that out of an outlay of Rs 3,250 million (revised to Rs 2,900 million) provided to the ministry for schemes pertaining to national broadcaster Doordarshan, the ministry utilised only Rs 1,578.6 million till February 2002.
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.
