News Broadcasting
Raghav Bahl to continue as non exec director at Network18 group
MUMBAI: After Reliance Industries acquired Network18, a slew of resignations followed. And amongst those was also the network’s founder and promoter Raghav Bahl. While there were questions on what was next, the much awaited announcement is finally out. Though Bahl ends his term as promoter from today, 7 July, he will continue to be the non executive director on TV18’s board. He has also resigned as managing director of Network18, though he will continue as its non-executive director.
This apart, the old promoters including Bahl, Ritu Kapur, Vandana Malik and Subhash Bahl, along with their affiliates have been replaced by Independent Media Trust (IMT), Network18 Media and Investments, Reliance Industries, RB Mediasoft, RB Media Holdings, RRB Mediasoft, Colorful Media, Adventure Marketing, Watermark Infratech and RB Holdings. The company announced this after a board meeting held this morning. And all of them have resigned from the board as well, along with the co-founder and executive director of TV 18 Sanjay Ray Chaudhuri.
In another announcement that followed, Reliance Industries revealed that Independent Media Trust (IMT) of which RIL is the sole beneficiary, has completed the acquisition of Network18 Media and Investments (NW18) including its subsidiary TV18 Broadcast (TV18). With the completion of this transaction, IMT and RIL have become promoters of NW18 and TV18. The open offers to the public shareholders for acquisition of equity shares of NW18, TV18 and Infomedia Press as announced on 29 May by JMT are in process and the draft letter of offer has been filed with SEBI for its comments.
The company also stated in a notice to the Bombay stock exchange that the Network18 board has been reconsituted with the appointment of veteran journalist Rohit Bansal and founder and group chairman of Webduniya Vinay Chhajlani as non-executive directors, and HDFC chairman Deepak S Parekh and Adil Zainulbhai as independent directors, following the resignation of the promoter directors.
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.
