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India’s Airlines tycoon Naresh Goyal talks to CNN
Airtimes: Indian Standard Times
BUSINESS INTERNATIONAL:
Monday, October 24 at 14:30 hrs
Repeats at 15:00 hrs, 16:30 hrs and 17:00 hrs
This Monday, October 24, join CNN’s Financial Editor Todd Benjamin in Benjamin’s Boardroom on CNN’S BUSINESS INTERNATIONAL as he talks to India’s first airline industry billionaire, Naresh Goyal. Goyal’s more than 37 years of experience in the civil aviation industry in India has seen his airline, Jet Airways, fly its fifth millionth passenger in February, earning it a reputation as one of India’s most successful airlines.
During the exclusive interview with CNN, the entrepreneur explains why money means nothing to him and narrates his climb from humble beginnings. When asked what aspect of the airline business he likes best, Goyal said, “I love that, this is one business which has created millions and millions of jobs worldwide. It connects people, connects different cultures, different traditions from all over the world. People coming from Spain, or France, or Germany, or India, or United States, from South East Asia or Japan; they want to know your culture, they want to know you and this airline business brings us closer to each other. To understand human beings, people, their temperament, philosophies, nations, so it’s different from any other business.”
Speaking of his vision for his airline and the multinational nature of its management board, Goyal says: “I said you need a very good board – a board who will believe in India, who will believe in Indians, who will love India, who will love Indians. People whom I have known over the years, so they are on the board today, whom I have known over 30 to 35 years, who know me, who know what I want to achieve, who know what India can do, so they are on the board.”
The airline magnate also talks about the Indian government’s contribution to the nation’s thriving economy and his views of India’s rising GDP. He ends the interview by saying he hopes the world will remember him for his contribution to society and the nation as a whole.
Goyal’s interview airs Monday, October 24, on CNN’s BUSINESS INTERNATIONAL as part of ‘Benjamin’s Boardroom’, a series of feature interviews bringing insights the minds of some of the world’s top chief executives. ‘Benjamin’s Boardroom’ looks beyond quarterly earnings and trading updates and focuses on leadership styles and strategies.
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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.
