Network18 EBITDA doubles in FY25 as ad revenues decline; digital and regional arm grow

Network18 Media & Investments Ltd’s standalone operating revenue for the news business rose 4.3 % to Rs 1,896 crore in the year ended March 31, while operating EBITDA nearly doubled to Rs 33 crore, led by tight cost control, stronger ad pricing and viewership gains.

Growth in operating EBITDA was aided by its expanding viewership and gains in advertising pricing. The network continued to lead in Hindi, English, and Business News segments, while also rising to leadership in Marathi and Bengali markets.

In the fiscal fourth quarter, the company reported an operating EBITDA of Rs.13 crore for its standalone news business, showing resilience amid a subdued advertising environment and a high base from election-driven revenues a year ago.

EBITDA margin widened to 2.6 % in the fourth quarter from 2.2 % in the preceding three months. Standalone operating revenue rose 9.5 % quarter-on-quarter to Rs. 522 crore. Operating expenses rose 3 % to Rs. 508 crore from a year earlier.

The company posted a standalone loss of Rs. 69 crore for Q4 FY25 as opposed to the Rs. 31 crore loss in the year-ago period. Total standalone income stood at Rs. 524 crore, up from Rs. 484 crore in Q3 but lower than Rs. 537 crore in Q4 FY24. The quarter saw muted advertising spends across the TV news industry, with inventory consumption falling 15 %, although the company maintained traction in digital ad revenues.

According to the company, they ended the year as India’s top TV news network with a 14.1% all-India market share.

The company’s consolidated financials reflected the impact of its restructuring deal involving Viacom18, Digital18, and Star India. Network18 recorded an exceptional loss of Rs. 1,436 crore on the consolidated books due to the derecognition of Viacom18 as a subsidiary and the sale of Indiacast. This led to a consolidated net loss of Rs. 1,777 crore for FY25 despite a strong operating performance in the core news segment.

Chairman Adil Zainulbhai said,“We are really happy to end the fiscal on a strong note as the largest news network in the country on all fronts—viewership share, audience reach and language footprint. Despite short-term macro headwinds, we are confident in the company’s long-term growth trajectory.”

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