News Broadcasting
UPA government kept security lapses secret: Finance Ministry Enquiry Report
MUMBAI: TV18’s news English news channel CNN IBN acquired possession of an internal enquiry report by the finance ministry, which reveals that during the printing of Indian currency, security features were compromised. The lapses were also kept under wraps by senior officials working under Ministry of Finance. The incident happened during the previous UPA (United Progressive Alliance) regime in 2012.
The use of a security thread is the most distinguishing feature of bank notes. The enquiry report, which says the security thread inserted in currency paper at the Hoshangabad Security Paper Mill were from an Islamic nation. The defect in the paper intended for 10 rupee notes was reported on 8 November, 2012, but was kept a secret.
The report says:
Examination of the 10 rupee notes showed indecipherable text on the security thread.
The notes either had Arabic text inscribed on the security thread or did not have any security thread at all.
The security thread was also found to be non-magnetic when examined on a quality control device.
The currency paper with the defective security thread initially escaped at least four to five quality checks.
It was later found that four boxes of sheets had defective currency paper.
At 5,000 sheets to a box, and 50 notes printed on each sheet, it works out to a whopping 10 lakh defective notes printed.
The company, which supplied the defective security thread, New Delhi-based Aristocraft International, faced no action. The MD of Aristocraft refused to comment.
The serious lapse was also kept under wraps by senior officers at Security Paper Mill and Security Printing and Minting Corporation of India for over three months. No report was sent to Home Ministry or Finance Ministry. In fact, officers allowed the supplier to change the security thread stock without punitive action. Even now no action has been taken against the officers or the supplier.
It is yet to be verified if there was any corruption involved. But clearly the lapses were so serious that it could have impacted national security exposing the country to allegations of counterfeiting its own currency.
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.
