TV Today FY26 profit drops sharply as ad revenue loses signal

MUMBAI: The newsroom lights are still on at TV Today Network Limited, but the revenue ticker is clearly moving at a slower crawl. The broadcaster behind leading news channels saw profitability shrink sharply in FY26 as softer advertising demand, rising operating pressure and continued losses in its radio business weighed on the balance sheet. For the year ended March 31, 2026, the company posted a net profit of Rs 13.74 crore, down steeply from Rs 74.83 crore in FY25. Total income also slipped to Rs 848.68 crore from Rs 1,038.73 crore a year earlier, reflecting the continued cooling of the television advertising market.

Still, the fourth quarter delivered a relatively brighter sign-off.

For the January-March quarter, TV Today reported net profit of Rs 9.22 crore against Rs 6.23 crore in the same quarter last year. Quarterly revenue from operations stood at Rs 213.47 crore, largely flat sequentially against Rs 212.36 crore in the December quarter, but lower than Rs 249.17 crore recorded a year ago.

The company’s television and media operations remained the key revenue engine, contributing Rs 808.70 crore during FY26. However, segment profit from the core media business dropped sharply to Rs 18.41 crore from Rs 82.44 crore in FY25, underlining the pressure on traditional broadcast advertising.

Production costs narrowed significantly to Rs 105.66 crore from Rs 153.40 crore, offering some operational relief. Employee benefit expenses remained largely stable at Rs 347.87 crore, while other expenses fell to Rs 323.85 crore from Rs 387.41 crore.

Even so, profitability took a hit after exceptional adjustments and weaker contribution from ancillary businesses.

The company’s discontinued radio broadcasting operations continued to drag earnings, reporting a loss of Rs 6.23 crore during FY26, though this was an improvement over the Rs 7.89 crore loss posted last year.

On the balance sheet front, TV Today remained cash-rich despite the earnings slowdown. Total equity stood at Rs 889.21 crore, while total assets were reported at Rs 1,128.33 crore.

The company sharply increased its investments during the year, with non-current investments jumping to Rs 207.30 crore from just Rs 10.14 crore in FY25. Meanwhile, bank balances excluding cash equivalents dropped significantly to Rs 11.36 crore from Rs 251.84 crore, signalling redeployment of funds.

Cash flow from operations remained positive at Rs 12.87 crore, although substantially lower than the Rs 121.62 crore generated in FY25. Dividend payouts also reduced cash reserves during the year, with the company paying Rs 17.90 crore in dividends.

While television news continues to command attention during major political and national events, the broader linear TV market is navigating a tougher reality. Advertising budgets are fragmenting across digital, streaming and creator-led platforms, forcing traditional broadcasters to rethink both cost structures and content strategies.

For TV Today, FY26 became less about breaking news and more about weathering a changing media cycle where audience attention is increasingly scattered across screens.