News Broadcasting
TRAI notification freezes cable TV rates as on 26 December 2003
MUMBAI/NEW DELHI: The Telecom Regulatory Authority of India (TRAI), which a short while ago issued its “CAS consultation note”, has frozen the prices of cable services in respect of free to air (FTA) and pay channels as on 26 December 2003 for CAS and non CAS areas.
This it has done through a fresh notification exercising the powers conferred on it by the government notification of 9 January that gave it additional responsibility of overseeing broadcasting and cable services as a regulator.
Through “The Telecommunication (Broadcasting And Cable) Services Tariff Order 2004” all channel rates have been frozen pending further orders at the levels they were at on 26 December.
The question the new order raises is whether connectivity will also be frozen as of 26 December? This is particularly relevant in the light of certain channels claiming that they have not increased their rates, but have reduced the rates, provided the cable ops and MSOs have increased their declared subscription base. Effectively, what this is tantamount to is a rate hike.
For the record, the operative part of “The Telecommunication (Broadcasting And Cable) Services Tariff Order 2004” is as follows:
“The Telecom Regulatory Authority of India (TRAI), vide a Notification issued today (Pausa 25, 1925 No. 301-3/2004-Eco) has specified a ceiling on “the rates at which the charges will be paid by the cable subscribers to cable operators, by the cable operators to multi service operators and by Multi Service Operators to broadcasters, as those prevailing on 26th December 2003 with respect to both free-to-air channels and pay channels, and for both CAS and non-CAS areas.”
“This intervention will continue until a final determination by the TRAI on the various issues involved. The hon’ble Delhi High court, in cw no. 8993-4/2003 dated 26th December 2003, directed the continuance of implementation of CAS in Delhi on a trial basis, initially for a period of three months, after which appropriate directions would be issued after taking into account the feedback for the three months’ experience. The ceiling on rates have therefore been specified as those prevailing on 26th December, 2003.”
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.
