TV Today Network's FY26 net profit plunges 81% to Rs 14 cr

TV Today Network Limited reported a sharp decline in annual profitability for FY26 as subdued advertising revenues, restructuring costs and continued losses in its radio business weighed on performance, even as the broadcaster initiated steps to exit the FM radio segment and streamline operations.

The company, which operates news brands including Aaj Tak and India Today, posted consolidated net profit of ₹14.35 crore for the financial year ended March 31, 2026, compared with ₹74.53 crore in FY25, according to audited financial results approved by the board on Friday. Revenue from operations fell nearly 19% year-on-year to ₹808.7 crore from ₹993.02 crore a year earlier.

On a standalone basis, the company reported annual net profit of ₹13.74 crore against ₹74.83 crore in FY25, while total income declined to ₹848.68 crore from ₹1,038.73 crore in the previous year.

For the March quarter, consolidated net profit stood at ₹9.02 crore compared with ₹6.15 crore in the year-ago period, aided partly by an exceptional item reversal linked to labour code-related provisions. Quarterly revenue from operations came in at ₹213.47 crore, down from ₹249.17 crore in the corresponding quarter last year.

The broadcaster’s television and media operations continued to remain its core business, contributing ₹808.7 crore in annual revenue. However, segment profit before tax from continuing operations declined sharply to ₹29.92 crore in FY26 from ₹111.12 crore in FY25, reflecting softer operating performance and higher costs.

A major drag on earnings came from the company’s radio broadcasting operations, which have now been classified as discontinued operations. The company reported a loss of ₹5.89 crore from discontinued operations during FY26 on a consolidated basis.

The move follows the company’s ongoing efforts to divest its FM radio business. T.V. Today said it entered into a binding agreement with Abhijit Realtors and Infraventures Private Limited in November 2025 for the sale of the radio business for ₹10 crore. The transaction is structured through a transfer of the radio business into wholly owned subsidiary Vibgyor Broadcasting Private Limited, followed by the sale of Vibgyor’s shareholding to the buyer.

The company said the Ministry of Information and Broadcasting had granted in-principle approval for the transfer of the radio business to Vibgyor, while the Wireless Planning and Coordination Wing approved migration of the wireless operating licence after the financial year ended. As a result, the company classified the radio assets as “held for sale” under accounting norms.

T.V. Today also recognised an impairment loss of ₹9.63 crore related to the radio business during FY26.

Another key factor affecting profitability was the implementation impact of India’s new labour codes. The company had earlier recognised an estimated incremental cost of ₹12.18 crore in the December quarter after the government notified the four labour codes and draft rules. Following a detailed reassessment completed during the March quarter, the company reversed ₹2.72 crore of the earlier provision as part of a compensation structure realignment.

Despite the earnings pressure, the company maintained a strong balance sheet. Consolidated total assets stood at ₹1,129.16 crore as of March 31, 2026, while cash and cash equivalents rose to ₹23.43 crore.

The board also approved an additional investment of ₹50 lakh in wholly owned subsidiary Mail Today Newspapers Private Limited through participation in a rights issue. The subsidiary reported a net loss of about ₹35 lakh during FY26 and had a net worth of ₹2.77 lakh at the end of the fiscal year.