News Broadcasting
World Cup finals deliver all-time high ratings
MUMBAI: The question was never whether the World Cup would deliver monster ratings, just how high could it go? TVRs for the ICC World Cup 2003 finals between Australia and India saw a new high with a TVR of 39.3 in Kolkata followed by Hyderabad and Mumbai with 30 and 25.5 respectively.
The six metros in the country averaged a TVR of 25.8 during the live match in C&S households, according to a MAX release.
Said MAX business head Rajat Jain: “The TAM ratings for the final match between India and Australia have broken all viewership records. MAX has got a channel share of 71.93 per cent in the base of all channels telecasting to C&S homes across the country, with Kolkata pegging a high of 81.98 per cent. Kolkata was followed by Hyderabad with a channel share of 74.94 per cent, Mumbai at 71.93 per cent, and Bangalore at 58.09 per cent.”
Peak half-hour ratings too were similarly spectacular. Said Jain, “The peak half hour ratings during the Finals touched a high of 47.3 in Kolkata, which is a record in Indian television history. Hyderabad stood second at 33.3, followed by Mumbai at 28.5.”
MAX’s Extraaa Innings also recorded phenomenal figures during the finals, with an average of 8.5 TVRs in the 6 metros in the C&S households, Jain said.
“MAX had set out to give greater value to our viewers and advertisers and other associates,” said Mr Jain,” and we have successfully converted the usual 8-hour Cricket match into an entertaining 11 hour presentation,” he added.
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.
