News Broadcasting
TV Today buys Romesh Films for Rs 200 crore to acquire Noida property
MUMBAI: In a deal that’s more location than storyline, TV Today Network has greenlit a blockbuster acquisition not of a production house with a hit filmography, but of a shell company sitting on prime land. At its board meeting on 25 July, the India Today Group-owned broadcaster approved the Rs 200 crore acquisition of Romesh Films Private Limited, a company with zero revenue, a modest net worth of Rs 5.93 crore, and one marquee asset: an immovable property in Noida. The company posted a profit after tax of Rs 2.82 crore in FY25 despite no turnover, a neat little plot twist that reflects its sole function as a property holder.
Rather than purchase the property outright, TV Today has opted to buy 100 per cent equity 4,65,010 shares of face value Rs 100 each of Romesh Films from existing shareholders. The deal excludes any net assets other than the land and building and is subject to due diligence, stamp duty, registration charges, and other transfer-related costs.
Once completed, Romesh Films will become a wholly owned subsidiary of TV Today Network. The company says the acquisition will aid operational convenience and support long-term expansion, given its proximity to the group’s corporate office in Noida.
TV Today Network reported revenue from operations of Rs 197.19 crore for the quarter ended June 2025, navigating a quarter of industry-wide recalibration following last year’s election-related ad spike. Profit from continuing operations stood at Rs 7.39 crore, while the company posted a net profit of Rs 7.35 crore for the period, reflecting a stable performance in a non-election cycle.
The radio business now treated as a discontinued operation dragged further, reporting a loss before tax of Rs 0.05 crore, contributing to a cumulative drag of Rs 7.89 crore for FY25.
But the company isn’t tuning out yet. In February, it signed an MoU to sell its three radio stations in Delhi, Mumbai and Kolkata (104.8 FM) for Rs 20 crore. The transaction, pending MIB approvals, will be routed through its wholly owned subsidiary, Vibgyor Broadcasting.
The net result? A strategic shift from frequencies to fixed assets, with an eye on solid ground even if it comes with no script.
News Broadcasting
Network18 posts Rs 1,955 crore revenue, narrows FY26 losses
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.
