News Broadcasting
Rana Daggubati raises an undisclosed amount from Gruhas
Mumbai: India is at an interesting phase of the entertainment story. With increasing internet penetration, and a growing push towards digital adoption, media, and entertainment makes for one of the largest and fastest-growing industries in the country. Gruhas has invested an undisclosed amount in Spirit Media, a fast-growing media production company, that focuses on producing phenomenal content, utilizing an IP-led model, and led by actor and producer Rana Daggubati.
Gruhas led by Abhijeet Pai and Nikhil Kamath believes that with the rise of digital platforms and streaming services, there is a significant opportunity for media production companies to create and distribute content to a global audience. With this belief that Spirit Media’s IP-led growth model will allow the company to leverage its content across various platforms, including television, film, and digital media, Gruhas has decided to invest in the company.
“We are thrilled to partner with Spirit Media and its visionary founder- Rana Daggubati,” said Abhijeet Pai from Gruhas. ” We recognize the potential of Spirit Media and its unique business model, and see it as an excellent opportunity to invest in a company that is set to revolutionize the media industry. We are excited to see the company grow and expand its operations, and look forward to supporting them every step of the way.”
“Spirit Media is India’s first and only 360-degree content and brand ecosystem that works across all Markets and Platforms” said Daggubati. “As we look at growing and transforming India’s media landscape, we are excited to partner with Gruhas which has a proven track record of building large, scalable enterprises with sustainable business’s models. We look forward to giving India’s media, entertainment and brand creators the opportunity and resources to transform the country through pursuing their dreams”
Spirit Media is a Media House that empowers creators and entrepreneurs by providing them with knowledge, capital, technology, and infrastructure. With a philosophy that is centered around collaboration and community, where producers and entrepreneurs work together to build a sustainable ecosystem that spans the entertainment, media, and consumer sectors globally.
Spirit provides producers with access to creative talent and industry experts, making it cost and time-efficient to produce, sell, market, and distribute content. And their entrepreneurs work to scale investments made by the group with consumer brands or technology.
Spirit Media operates in a bucket of four – Content, Services, Consumer Brands, and Investments – each with Producers and Entrepreneurs, supported by a shared pool of Human Resources, Finance, and Legal personnel.
At Spirit Media, the vision is to become the go-to platform for creators and entrepreneurs to access the resources they need to produce, market, and distribute their content globally. The company fosters a collaborative community that supports sustainable growth and success.
The future, unsurprisingly, will revolve greatly around technology. As per the latest report by the PwC, India’s Media and Entertainment Industry is expected to reach Rs 4,30,401 crores (US$ 53.99 billion) by 2026. With various government initiatives (such as 100 per cent FDI in the films) as well as Mergers and Acquisition, changing consumer preferences and more, this growth trajectory has been comparable to the global average rate.
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.
