News Broadcasting
Varun Kapur joins TPG Ventures as firm partner
MUMBAI: Texas Pacific Group Ventures (TPGV) has announced Varun Kapur, as a firm partner effective February 2007.
A former Intel capital executive, Kapur will lead expansion stage and growth-oriented investments in India with investments up to as much as $ 75 million, asserts an official release.
Kapur will also have additional responsibility for growth and expansion investments in Japan, Australia and parts of Southeast Asia.
TPG Newbridge is part of the TPG global buyout and late stage private equity fund that invests across the globe in multiple sectors. In India, TPG has invested in Matrix Laboratories and Shriram Finance.
TPG Newbridge managing director Puneet Bhatia said, “We are pleased to welcome Varun Kapur to the TPG family. India represents a compelling opportunity to invest in expansion stage and growth companies, and Varun can help sharpen that focus.”
TPG Partner and Wipro, Ltd former vice chairman Vivek Paul added, “Varun has established a strong reputation with investments like NIIT, India Infoline, Sasken, Elpida (Japan), and Unwired (Australia). Given TPG’s strong interest in India, we are delighted to have someone of Varun’s caliber join the TPG Ventures team. We plan to build the TPGV team under him so we can best address the vast and diverse investment opportunities in expansion stage and growth-oriented companies in India”
Commenting on his appointment Kapur said, “TPG is one of the earliest private equity investors in Asia and is certainly among the most successful. I view the invitation to join the firm to help oversee its substantial commitment to growth investments in the region as a unique career opportunity. I was particularly attracted by the significant value that TPG can bring as a sophisticated global investor across multiple asset classes and industries.”
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.
