News Broadcasting
Zee News Ltd Q2 net up 18% to Rs 70 mn
MUMBAI: Zee News Limited’s (ZNL) consolidated net profit rose 18.2 per cent to Rs 70.2 million in the second quarter ended 30 September from a year earlier on the back of a 39.1 per cent rise in subscription revenues which more than offset a 9.7 per cent fall in its advertising revenue.
ZNL, which had decided to reduce its advertisement air time by 30 per cent beginning in the first quarter, has seen its advertising revenue come down to Rs 439.2 million in the second quarter from Rs 486.5 million a year earlier.
The news network’s subscription revenue increased to Rs 222.6 million from Rs 160.1 million a year earlier. In the first quarter, ZNL’s subscription income was Rs 176 million.
ZNL’s consolidated revenues for the quarter fell 11.6 per cent to Rs 700.3 million from Rs 792.6 million in the year before period. The company’s operating expenditure fell 12.4 per cent during the quarter to Rs 621.7 million from Rs 709.4 million a year earlier.
Consolidated Ebitda stood at Rs 78.6 million in the second quarter compared with Rs 83.2 million a year earlier.
The company said it has established a wholly owned subsidiary in the name of 24 Ghantalu News Ltd for housing its Telugu News channel ‘Zee 24 Gantalu’ and has invested initial capital of Rs 0.5 million in the subsidiary.
Earlier the company had decided to shutter Zee 24 Gantalu citing economic unviability as the reason.
ZNL MD Punit Goenka said, “The media industry continued to face slowdown issues in the second quarter especially in the months of July and August. ZNL always has had subscription revenue stream supplementing the ad revenues which helps the company counter any slowdown in the advertising industry. However, we expect that the advertising would be quite buoyant in the coming quarters.”
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.
