Apr-June quarter a mixed big for TV news 

The June quarter proved to be a mixed bag for TV news broadcasters as an uptick in subscription income offset dip in revenues and a subdued advertising environment. The absence of election-related tailwinds was also felt in the financial results.

Showing some resilience, Network18 posted a consolidated profit of Rs 148.85 crore in Q1 FY26, recovering from a net loss of Rs 195.36 crore in Q1 FY25 and Rs 29.1 crore in Q4 FY25. The company credited this to its “strong operating position” and disciplined cost management.

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Meanwhile, Sun TV’s profit after tax (PAT) stood at Rs 529.21 crore, down 5.44 per cent year-on-year from Rs 559.67 crore but a rise of 42.63 per cent sequentially from Rs 371.09 crore. This too reflected the broadcaster’s resilience, buoyed by growing subscription revenues.

Sun TV financials

However, TV Today’s PAT saw a fall of 85.7 per cent year-on-year to Rs 7.35 crore, from Rs 51.38 crore a year ago. Although there was a 19.5 per cent sequential increase from Rs 6.15 crore in the previous quarter, the network’s overall profitability remained subdued.

NDTV registered a comprehensive loss of Rs 70.65 crore, compared to Rs 47.46 crore a year earlier and Rs 61.37 crore in the preceding quarter, despite higher revenues. This points to mounting cost pressures or increased investments in content and technology.

NDTV financials

Operating revenue of the news business for the quarter stands at Rs 430 crore, 5 per cent down on a YoY basis. The company attributed the steep fall primarily to a high base effect driven by election-linked ad revenues in the year-ago period, coupled with a continued soft advertising environment and a sports-heavy calendar that diverted advertiser attention.

“Compared with Q1 FY24, which also did not have any significant revenue linked to elections, revenue is up 9 per cent,” Network18 stated in its earnings release. Sequentially, revenue fell 17 per cent from Rs 561.32 crore in the March 2025 quarter.

Meanwhile, Sun TV registered a marginal rise in total income, posting Rs 1,479.19 crore in Q1 FY26, a 1.28 per cent increase year-on-year and a robust 25.13 per cent sequential rise. However, operational revenue was slightly down year-on-year at Rs 1,290.28 crore versus Rs 1,313.55 crore. On a quarter-on-quarter basis, the broadcaster recorded a 36.96 per cent jump in revenue.

Zee Media Corporation Ltd (ZMCL) too posted operational revenue of Rs 182.36 crore in Q1 FY26, up 3.6 per cent year-on-year and 17 per cent higher than Rs 155.80 crore in Q4 FY25. 

NDTV reported revenue of Rs 107.65 crore, up 14.6 per cent year-on-year but down 15.2 per cent sequentially. The company attributed growth to “robust traction across platforms, strategic editorial investments, and a relentless focus on innovation.” However, the revenue drop from the previous quarter signals ongoing volatility in the TV news segment.

The advertising revenue trends underscored the broader challenges. Sun TV cited continued softness in the advertising environment as it posted a decline in ad revenue to Rs 289.94 crore in Q1 FY26, down from Rs 323.77 crore a year earlier. 

Network18, too, pointed out that “advertising inventory consumption for the TV news industry declined by more than 20 per cent year-on-year,” highlighting significant headwinds. NDTV, while not disclosing ad revenues separately, acknowledged that macroeconomic challenges impacted monetization.

Conversely, subscription income provided partial cushioning. Sun TV’s domestic subscription revenue rose steadily to Rs 470.12 crore, up from Rs 425.79 crore last year. Network18 also emphasized tight control on expenses, achieving a 5 per cent year-on-year reduction in operating costs despite revenue pressures.