Network18 Media and Investments reports net profit of ₹40.7 cr in Q2

The company turns profitable, acquiring the remaining 50% stake in News18 Lokmat for ₹25 crore to make it a wholly owned subsidiary.

Reliance Industries-backed Network18 Media and Investments reported a consolidated net profit of ₹40.7 crore for the July–September quarter, compared with a loss of ₹95.8 crore in the same period last year.

 

The company’s revenue stood at ₹497.8 crore in Q2 FY26, down by ₹72.27 crore year-on-year (YoY). “Operating revenue during the second quarter increased 7% YoY despite continued softness in the advertising environment, as inventory demand for the TV news industry declined by 7 per cent YoY. However, the company benefitted from growth in pricing yields on the back of its strong operating position across markets,” Network18 said in a release.

 

 

Operating costs for the quarter fell to ₹100.1 crore, while total expenses declined to ₹580.2 crore on a YoY basis.

 

“During the first half of the financial year, revenue growth has been flattish on a YoY basis. Given that the first quarter of the last fiscal had a healthy contribution from election-linked advertising, the performance shows the strength and resilience of the network. In view of the soft revenue conditions, the company continued to maintain prudent control on expenses, resulting in operating costs also being flat in the first half,” the company added.

 

The board of directors also approved the acquisition of the remaining 50 per cent stake in its joint venture, IBN Lokmat News (IBNL), for ₹25 crore. The Marathi news channel News18 Lokmat will now become a wholly owned subsidiary of Network18.

 

“Acquisition of balance stake in News18 Lokmat further strengthens our market-leading portfolio of national and regional news channels,” said Adil Zainulbhai, Chairman of Network18 Media and Investments. “Our mission is to be the one-stop news destination for audiences around the country, and this is another step in that direction. Our multi-lingual bouquet of TV and digital platforms continue to strengthen their positions across markets, putting us in a strong position to benefit from the upside potential of the initiatives recently undertaken by the government to boost consumer demand.”

 

The company said it continues to be India’s largest TV news network, with viewership share up 220 basis points YoY, driven by growth in regional markets. Network18 also maintained leadership across Hindi, English, and Marathi news segments and remained the largest digital news network on YouTube, recording more than three times the views of its nearest competitor.