News Broadcasting
Roys’ plan to transfer NDTV shares to daughter hits snag
MUMBAI: The Foreign Investment Promotion Board (FIPB) has put on hold New Delhi Television Ltd’s proposal to transfer part of the promoters’ (Dr Prannoy Roy and wife Radhika) shareholding to daughter Tara Roy.
The Roys had sought government clearance to gift 15 per cent of the company shareholding to non-resident Indian daughter Tara.
When the FIPB sought the information and broadcasting ministry’s opinion on the matter, it was stated that it’s not clear whether the proposed share transfer to Tara would amount to foreign direct investment or whether it would continue to fall in the category of Indian Investment.
It was also pointed out by the I&B ministry that after the transfer of shares, the Indian promoters’ holding in the company would fall below 51 per cent, which is a requisite to comply with norms for uplinking from India.
Interestingly, according to FIPB documents, when the chairman of the Board desired to know the existing policy of the I&B ministry on such issues, the ministry representative could not clarify the same in a recent meeting.
A decision on the issue would be taken only after clarifications are obtained from various ministries concerned, including the department of economic affairs.
The FIPB papers, available with Indiantelevision.com, indicate that Tara Roy held 13 shares of the company when she was a resident Indian and was also a member on the board of NDTV.
According to the guidelines for uplinking of news channels, permission will be granted only in cases where equity held by the India shareholder is at least 51 per cent of the total equity.
Presently, NDTV promoters Prannoy and Radhika Roy hold about 27.39 per cent equity stake each in the company, as per information available on the Bombay Stock Exchange (BSE).
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.
