News Broadcasting
ZMCL to demerge print biz into DMCL, list; approves new home shopping channel
MUMBAI: The board of directors of ZMCL has inter alia approved a draft of Scheme of Arrangement and Amalgamation for demerger of print media undertaking of the company into Diligent Media Corporation Limited (DMCL), merger of Mediavest India Private Limited and Pri Media Services Private Limited into DMCL and merger of Maurya TV Private Limited with the Company. As a part of the Scheme, the equity shares of DMCL shall be listed on stock exchanges.
Newspaper Launch: The Network launched the Delhi edition of DNA on 11 October 2016.
DNA launched with a promise. “We won’t compromise on the quality and integrity of journalism. You won’t find a story where we have sold our soul to make money and sold it to you as news,” wrote the editor-in-chief of the newspaper on the front page of the first issue of the 32-page paper priced at Rs 10. He further promised that the spanking new newspaper will change the rules of the game. DNA’s Delhi debut has, interestingly, took the media fraternity, including top media buyers at advertising agencies, by surprise.
Delhi is a bigger print media market than Mumbai. Of Rs 5,100 crore invested into advertising in newspapers in Delhi and Mumbai, 60% goes into print brands in the capital. The English print market in Delhi is estimated to be at Rs 1,700 crore.
Acquisition: Subsequent to September 30, 2016, the company has acquired 49 per cent stake in Today Merchandise Private Limited and Today Retail Network Private Limited and the Board of Directors today approved in-principle launch of a Home Shopping channel by the company.
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.
