News Broadcasting
Sri Adhikari Brothers: Is the tide turning?
The tide it seems is turning for Sri Adhikari Brothers Television Network Ltd (SABTNL). In the latest results for Q3 (upto 31 December 2001), the company has declared a better net profit despite lower sales (as compared to Q2 2001). Net profit for Q3 is up 240 per cent to Rs 25.02 million (Rs 7.4 million in Q2 2001), while income from operations is down to Rs 179.3 million (Rs 224.3 million).
The company seems to be keeping a tight rein on costs as its interest burden has stayed put at around Rs 3 million. Expenses are down by 17 per cent to Rs 154.7 million (Rs 185.9 million) and its profit before depreciation is higher at Rs 29.9 million (Rs 21.1 million). The company has provided a lower level of tax at Rs 1.8 million (Rs 10.7 million).
indiantelevision.com has chosen to use Q2 vs Q3 as a comparative yardstick because satellite television is an extremely vibrant and fluid medium. If we compare the current quarter results with last year’s corresponding quarter the performance seems pretty depressing. Total income in that quarter was Rs 275.6 million (Q3 2001 income: Rs 187.6 million), while net profit was Rs 43.3 million (RS 25.02 million).
The company says it is taking over the operations of Sabe TV during Q4, which will result in cost savings and thus help shoring up its balance-sheet in the future. Additionally, it is also hoping to uplink from within Indian shores thus attracting local advertisers who could not use it as a media vehicle because of forex restrictions, the management adds. The management says that net earnings from sponsored programmes on DD are up 230 per cent as compared to previous years.
The market reacted cautiously to the SABTNL’s results, with the share opening at Rs 158 and oscillated between RS 158 and Rs 168, finally closing at Rs 160, an appreciation of one per cent. The share has been on an upward trend from 1 January when it was priced at Rs 133.
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.
