Network18 posts 7% growth in operating revenue in Q2 FY26

Network18’s operating revenue for the news segment rose 7% year-on-year (YoY) to ₹477.2 crore in Q2 FY26, up from ₹445 crore in Q2 FY25. For the first half (H1 FY26), revenue stood at ₹907.6 crore, marginally higher than ₹898 crore in H1 FY25.

Operating expenses for the news business rose in line with revenue, standing at ₹469.8 crore in Q2 FY26 compared with ₹438 crore in the same quarter last year. H1 FY26 expenses were ₹896 crore, slightly up from ₹888 crore in H1 FY25. Operating EBITDA for Q2 remained flat at ₹7.4 crore, while H1 FY26 EBITDA jumped 21.7% YoY to ₹11.5 crore.

The company attributed its Q2 revenue growth to increased pricing yields, which helped offset a 7% YoY decline in TV news industry inventory demand.

“The flat growth in H1 revenues, despite a strong first quarter in the previous fiscal supported by election-linked advertising, underscores the network’s operational strength and resilience. Prudent expense management also contributed to maintaining operating costs at a steady level during the first half,” the company said.

The company is expanding its digital footprint with initiatives such as Moneycontrol Fintech, Creator18, and Firstpost. Moneycontrol recently announced a lending partnership with HDFC at the Global Fintech Fest, and its Moneycontrol Super Pro subscription is witnessing strong subscriber interest. Additionally, Network18 is set to acquire the remaining 50% stake in News18 Lokmat, making it a wholly-owned subsidiary and further consolidating its regional presence.

The above numbers exclude the Marathi news channel News18 Lokmat (JV), Moneycontrol Dot Com India Limited (subsidiary), History TV18 (AETN18, subsidiary), and Viacom18 (merged with Star India Pvt. Ltd. in November 2024).

Network18’s portfolio includes 20 channels, including 14 regional channels, reaching over 250 million people monthly with a 13.5% all-India viewership share, the company said.

Eenadu Television Private Limited (ETPL) ceased to be an associate of the company from 7th July, 2025 pursuant to assignment of the voting rights on the 24.5% equity holding in ETPL to the promoter of ETPL.

According to the consolidated statement, Network18’s total income for Q2 FY26 was ₹500.84 crore, down from ₹2,059 crore in the corresponding quarter of the previous fiscal. For H1 FY26, consolidated revenue stood at ₹979 crore, compared with ₹5,351 crore in the first half of FY25.

However, the company noted that since Indiacast Media Distribution and Viacom 18 Media ceased to be subsidiary of the company on 14th November, 2024 and 30th December, 2024, respectively, the figures for the corresponding previous periods are not comparable,” it said.