News Broadcasting
Zeel’s Q1-2014 PAT up by 42.6 per cent (y-o-y)
BENGALURU: Content and broadcast player Zee Entertainment Enterprises Limited (Zeel) unaudited results for Q1-2014 reported a growth of 42.6 per cent ( y-o-y) PAT, with a PAT margin of 23 per cent at Rs 223.9 crore as compared to the Rs 157 crore during the corresponding quarter of FY-2013. Consolidated operating revenues were up 15.5 per cent (y-o-y) at Rs 973.3 crore during Q1-2014 from the Rs 843 crore reported for Q1-2013.
Let’s take a look at Zeel’s Q1-2014 performance
Advertising revenues for Q1-2014 were higher at Rs 530.1 crore, recording an 18.5 per cent growth over Q1-2013’s Rs 447.2 crore.
Zeel’s subscription revenues for Q1-2014 were also up by 16.5 per cent at Rs 421.1 crore as compared to the Rs 361.1 crore during corresponding period last year. Zeel’s domestic subscription revenues stood at Rs 316.8 crore (up 26.5 per cent as compared to Q1-2013); while its international subscription revenues were Rs 107.3 crore for Q1-2014 (down 5.6 per cent y-o-y as against Q1-2013.
Other sales and services revenues were down 39.7 per cent for Q1-2014 at Rs 19.1 crore as compared to Rs 31.7 crore during Q1-2013.
Zeel’s operating costs increased 9.6 per cent to Rs 410.8 crore for Q1-2014 from Rs 375.7 crore in Q1-2013. Its employee costs increased 7.7 per cent to Rs 95.6 crore from Rs 88.6 crore during Q1-2013. Selling and other expenses saw a 20.7 per cent jump to Rs 175.4 crore during Q1-2014 from Rs 145.3 crore reported in Q1-2013.
Zeel offered and allotted 55,48,400 equity shares at a price of Rs 119.90 per share upon exercise of ESOP by its employees during Q1-2014. During the AGM held in July 2013, Zeel shareholders passed a special resolution approving enhancement of FII limits in the company beyond the current limit of 49 per cent to the maximum sectorial limit allowed under FDI applicable regulations.
Zeel chairman Subhash Chandra said, “The economy during the quarter has continued to face challenges due sharp depreciation in rupee against major currencies leading to elevated current account deficit, balance of payment, inflation and adverse fiscal deficit. In spite of this lackluster growth television media industry has posted a comparatively robust growth on back of sustained advertisement spends by the consumer goods sector.”
“Our performance during the quarter reflects the investments that Zee is making to grow its business and market share. This has been accompanied by a strong improvement in operating performance of the company during the quarter. In a highly competitive space, Zee continues to build its media assets and in the process continues to create value for the shareholders. We have a strong balance sheet and I am confident that we would take advantage of the growth opportunities ahead of us,” added Chandra.
Zeel managing director and CEO Punit Goenka said, “The subscription revenue during the quarter has shown robust increase and with digitization rollout, will improve medium term. Sports performance for the quarter has been good, but due to heavy sports calendar and rupee depreciation, the business is expected to be in losses for some time.”
“The phased implementation of Trai regulation with respect to advertising inventory based on clock-hour has started and in expected to be fully in place by the end of second quarter, DAS in phase I and II also moved a step further with MSOs’ making substantial progress in capturing consumer data and taking first steps towards implementing packaging”, added Goenka.
“While competitive intensity remains high in the Indian television industry, we continue to make efforts towards further enhancing our market share. Our content focused approach combined with better monetization of subscription revenues, will contribute to company delivering steady return in the years ahead”, added Goenka further.
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.
