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Network18 Q3 News Revenue Up 5% YoY to ₹500 Cr; Maintains #1 Market Position
Network18 reported a 5% YoY growth in news business revenue to ₹500.4 crore for Q3 FY26, despite a 10% industry-wide decline in TV news advertising demand. The news segment's EBITDA grew 2.2% YoY to ₹11.8 crore, though the standalone entity reported a net loss of ₹107.6 crore due to exceptional items. These items included a ₹32.25 crore impairment on IBN Lokmat and ₹19.55 crore for new Labour Code obligations. The company continues to dominate the digital space with ~300 million monthly users and over 1 million paid subscribers on Moneycontrol Pro.
Key Highlights
News business operating revenue grew 5% YoY to ₹500.4 crore, outperforming the broader market's advertising weakness.
Network18 maintained its #1 position with a 14.2% TV viewership share and reached 72% of India's digital news population.
Moneycontrol Pro reached a milestone of 1 million paid subscribers, while YouTube video views grew 100%+ YoY.
Exceptional charges of ₹51.8 crore impacted the bottom line, primarily due to investment impairments and labor code adjustments.
Renewed a 10-year strategic partnership with CNN International to expand its digital and international footprint.
💼 Action for Investors
Investors should watch for a recovery in the advertising environment and the continued scaling of digital subscription revenues. The company's market leadership is strong, but high finance costs and exceptional items remain a drag on net profitability.
Network18 Q3 FY26: Consolidated Net Loss Narrows to ₹5.29 Cr; Revenue Drops 60% YoY
Network18 Media & Investments reported a sharp decline in consolidated revenue to ₹539.37 crore for Q3 FY26, down from ₹1,360.50 crore in the same quarter last year. Despite the revenue drop, the consolidated net loss narrowed significantly to ₹5.29 crore compared to a loss of ₹1,399.91 crore in Q3 FY25. The standalone results were weighed down by an exceptional loss of ₹51.80 crore, primarily due to an impairment of ₹32.25 crore in IBN Lokmat and ₹19.55 crore in additional labor code obligations.
Key Highlights
Consolidated revenue from operations decreased by 60.3% YoY to ₹539.37 crore.
Consolidated net loss narrowed to ₹5.29 crore from ₹1,399.91 crore in the previous year's corresponding quarter.
Standalone revenue showed modest growth of 5% YoY, reaching ₹500.42 crore.
Exceptional standalone loss of ₹51.80 crore recorded due to IBN Lokmat impairment and new Labour Code valuations.
IBN Lokmat became a wholly-owned subsidiary on October 29, 2025, following a ₹25 crore stake acquisition.
💼 Action for Investors
Investors should exercise caution given the significant contraction in consolidated revenue and the impact of exceptional items on standalone profitability. Monitor management's explanation for the revenue shift and the long-term impact of the IBN Lokmat acquisition.