News Broadcasting
TV18 boosts Network18 numbers for third quarter
BENGALURU: Mukesh Dhirubhai Ambani’s media arm, Network18 reported improved numbers for the quarter ended 31 December 2018 (Q3 2019, quarter under review) as compared to the corresponding year ago quarter Q3 2018). The company reported 13 percent y-o-y growth in consolidated revenue for Q3 2019 at Rs 1,475 crore as compared to Rs 1,267 crore in Q3 2018. Network18 reported profit after taxes of Rs 138 crore for Q3 2018. Consolidated operating EBITA increased 18 percent y-o-y to Rs 88 crore in Q3 2019 from Rs 75 crore in Q3 2018.
Network18’s numbers comprise of numbers from its publically listed subsidiary TV 18 Broadcast Limited (TV18) and from NW18 Web digital, print and others.
TV 18 props Network 18 numbers
TV 18 consolidated revenue of Rs 1,474 crore in Q3 2019 was 22 per cent higher y-o-y than Rs 1,211 crore in Q3 2018. TV 18 consolidated operating EBIDTA for Q3 2019 increased 41 percent y-o-y to Rs 115 crore from Rs 82 crore in Q3 2018
Revenue growth in Q3 2019 was across all revenue streams. The company’s operating revenue from Business and General news (TV 18 standalone) increased 16 per cent y-o-y to Rs 290 crore from Rs 251 crore. The segment’s operating EBIDTA more than doubled (increased 130 percent) y-o-y in Q3 2019 to Rs 47 crore from Rs 20 crore.
National News (Business and General) revenue increased 12 percent in Q3 2019 y-o-y to Rs 220 crore from Rs 196 crore. National News (Business and General) operating EBITDA increased 13 percent y-o-y to 56 crore from Rs 49 crore. National News. Regional News ex-Lokmat operating revenue during the quarter under review increased 27 percent y-o-y to Rs 70 crore from Rs 55 crore. The segment reported a substantially lower loss of Rs 9 crore for Q3 2019 as compared to Rs 29 crore for Q3 2018.The Entertainment segment (Viacom 18, AETN18 and Indiacast) saw a 23 percent y-o-y increase in revenue to Rs 1,185 crore in Q3 2019 from Rs 960 crore. Operating profit of the Entertainment segment increased 11 percent y-o-y to Rs 68 core from Rs 61 core.
NW18 Web digital, print and others numbers continue decline
In Q2 2018, NW18 Web digital, print and others (NW18) revenue declined. The decline continued with a 13 per cent y-o-y fall in Q3 2019 to Rs 49 crore from Rs 56 crore in Q3 2018. NW18 operating EBIDTA was higher loss of Rs 27 crore as compared to a loss of Rs 7 crore in Q3 2018.
Company speak
Chairman of Network18, Adil Zainulbhai said: “Regional content consumption continues to see robust growth across all parts of the media industry that we play in, whether broadcasting or digital; and straddling news, entertainment and film. We continue to invest in digital with an eye on the future. We are extending our powerful brands across geographies, business models and mediums, to create the most compelling portfolio of properties in the opportunity-laden Indian media sector.”
Notes
Viacom18 and Indiacast became subsidiaries of TV18 from 28 February 2018 and have been consolidated into TV18/Network18 financials from 1 March 2018. HomeShop18 has ceased to be a subsidiary of Network18 from 15 February 2018 as a result of its acquisition of ShopCJ through a share-swap.
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.
