News Broadcasting
‘Top Gear’ first magazine off the TOI-BBC JV rack
MUMBAI: Nine months after The Times of India Group and BBC Worldwide formed a joint venture WorldWide Media (WWM) for magazines the first new magazine has been launched. Not surprisingly the first title is Top Gear – the car magazine that serves as a companion piece to the television show which is hosted on BBC World by Jeremy Clarkson.
The issue was launched last night by Bollywood film star Ajay Devgan who is a car enthusiast. Speaking on the launch WWM director Ian Walton says, “This is the 11th edition of Top Gear and has around 1.5 million readers. It has changed the way the automobile industry is covered. The Indian magazine scene is vibrant and while it is difficult for me at this juncture to give the number of copies we expect to sell we are confident that the magazine will appeal to the men who form our core readership. We are also encouraged by the fact that India is the fastest growing car market in the world.”
Talking about who the magazine has done in different parts of the world, Walton adds, “The reason that this magazine has done well in the various countries is due to the incredible journalism. Also we aim to entertain our readers while giving out information. That is not the case with a lot of online articles on cars. They mainly deal with facts and figures which can be boring. Our aim is to go beyond that and be a fun, witty and irreverent experience.”
“As for other titles that we would launch in the future we have some ideas on the table that we are working on. The BBC Worldwide magazine catalog is vast and covers subjects like food, kids, history, gardening and women. Certainly some titles here have potential to do well in India. Perhaps six months down the line we would have decided on the next title,” he added.
The editor of the Indian version of Top Gear is Gautam Sen who has been covering the auto motive sector for nearly two decades. Says Sen, “We are not afraid to call a spade a spade. Our aim for this consumer lifestyle magazine, as is the case all over, is to make it highly entertaining. Our motto is to always tell the truth for credibility matters. We may upset some people in the industry as a result of this but that is something we are prepared for.”
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.
