News Broadcasting
STB duties: finance ministry won’t budge
MUMBAI / NEW DELHI: After a “disappointing” budget, the Consumer Electronics Traders and Manufacturers Association (CETMA), the apex body of electronics goods manufacturers in India, had to listen to more bad news today
A meeting among CETMA, information & broadcasting ministry officials and finance ministry officials ended today with it being firmly conveyed that there would be no reduction in duties on set top boxes, as was being sought by the electronics manufacturers.
“At the moment it looks that STBs will have to be imported with 51 per cent duty (25 per cent basic customs duty, 15 per cent countervailing duty and 4 per cent additional taxes), CETMA’s Suresh Khanna told indiantelevision this evening, sounding dejected.
According to Khanna in the initial phase of conditional access rollout, the whole set top box would have to be imported. It would only be later when demand picked up that semi-knock down kits and finally completely knocked down kits could be manufactured, Khanna said.
Khanna had said immediately after finance minister Jaswant Singh presented his budget that CETMA would be petitioning the I&B ministry as also the finance ministry “at the first available opportunity” to push for review of the government (in)decision on STBs, especially at a time when the government is pushing aggressively the implementation of conditional access system.
The manufacturers had been hoping that the budget would see basic customs duty on set top boxes being reduced to 10 per cent but that was not to be.
CETMA had also asked for zero per cent excise duty on finished goods and components like RF modulators and the Network Interface Module.
They had also demanded that sales tax be kept at four per cent, preventing fly by night operators and gray market from affecting legitimate sales of the Indian manufacturer. The association also wants a lead time of 90 days from the date of commercially clear purchase order for the delivery of the STBs.
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.
