News Broadcasting
RIL posts strong Q2 earnings, media biz betters performance
KOLKATA: Reliance Industries Ltd (RIL) reported strong Q2 earnings on Friday. The telecom and retail business has driven the growth and the media business also bettered its performance.
“We delivered strong overall operational and financial performance compared to the previous quarter with recovery in petrochemicals and retail segment, and sustained growth in digital services business,” RIL CMD Mukesh Ambani said.
“Domestic demand has sharply recovered across our O2C business and is now near pre-Covid2019 level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. With large capital raise in last six months across Jio and retail business, we have welcomed several strategic and financial investors into Reliance family. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity,” he added.
The company’s operating profit fell 6.6 per cent year-on-year to Rs 10,602 crore in the July-September period. Its revenue fell 24 per cent over last year to Rs 1.16 lakh crore while operating margin widened to 16 per cent from 14.4 per cent earlier.
Reliance Jio’s revenue including access revenues for the quarter was Rs 21,708 crore, EBITDA stood at Rs 7,971 crore. It netted Rs 3,020 crore quarterly profit, a jump of 185 per cent year on year. The telco operator’s ARPU rose to Rs 145 per subscriber per month.
How did the media segment perform?
The media business' revenue rose by 31.5 per cent quarter-on-quarter to Rs 1,061 crore as Covid2019-linked impact on ad-revenues receded over the quarter. EBITDA for the quarter was at Rs 166 crore. Operating margins continued to improve, as broadcasting margins rose sharply, and digital news business swung into profitability.
The company said in a statement that ad-revenues rebounded sharply, as economic activity restarted on tapering of lockdowns. News business’ advertising has fully recovered, and entertainment recovery is near-complete by the end of the quarter. Subscription revenues have been resilient and domestic subscription revenue continues to rise led by expanding TV and Digital distribution tie-ups.
“TV viewership has now settled at 1.1x pre-Covid levels. Pay-TV has clawed back its share from free-to-air channels, as entertainment programming is back in full-swing. An increased propensity to pay for content has been witnessed. Flagship properties Moneycontrol and Voot have witnessed rapid growth in subscribers,” it added.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
