Network18 Financial Results: Media Giant Reports ₹29.09 Crore Net Loss in Q4 FY25

Published on April 20, 2025

India’s leading media conglomerate Network18 Media & Investments Ltd has reported its latest financial results, posting a consolidated net loss of ₹29.09 crore for Q4 FY25, while generating revenue from operations of ₹561.32 crore. The Network18 financial results reflect the challenging media landscape in India, marked by subdued advertising spending and industry-wide pressure on traditional television news channels, even as the company maintains its position as the country’s largest news network.

Network18 Financial Results: Q4 Overview

The Network18 financial results for the quarter ending March 31, 2025, reveal a significant shift from the same period last year when the company reported a loss of ₹195.68 crore and revenue from operations of ₹2,792.45 crore. However, the company has emphasized that these figures are not comparable with the year-ago period due to the structural changes resulting from the merger of its subsidiary Viacom18 with Star India.

The Network18 financial results reflect the broader challenges facing India’s media industry, particularly in the television news segment. According to the company’s earnings statement, “Revenue for the quarter declined marginally YoY on a high base on account of election-led advertising last year. Overall advertising environment remained subdued as advertising inventory consumption for the TV News industry declined by 15 per cent YoY, putting pressure on TV revenue growth.”

Viacom18-Star India Merger Impact

A significant factor affecting the comparability of the Network18 financial results is the strategic merger between Viacom18 and Star India. The company disclosed in its financial statement that this transaction has had a substantial impact on its financial reporting.

The merger represents a major restructuring of India’s media landscape, bringing together two powerful entertainment networks. While creating short-term accounting challenges for the Network18 financial results, the strategic move is designed to strengthen the company’s position in the highly competitive Indian media market over the longer term.

Standalone Performance Analysis

On a standalone basis, the Network18 financial results provide better visibility into the core news business performance. Revenue from operations in the January-March quarter of FY25 reached ₹521.76 crore, compared to ₹535 crore in the same period a year ago, representing a slight decline of approximately 2.5%.

The standalone net loss for the quarter increased to ₹69.48 crore from ₹31.28 crore a year ago, representing a 122% increase in losses. This deterioration in profitability reflects both the challenging revenue environment and a 3% year-over-year increase in operating expenses, which together have put pressure on the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).

Advertising Environment Challenges

A key factor affecting the Network18 financial results has been the challenging advertising environment across the Indian media industry. The company noted that the TV News industry experienced a 15% year-over-year decline in advertising inventory consumption during the quarter, creating significant headwinds for revenue growth.

Despite these challenges, the company’s digital properties have performed relatively better, with the earnings statement noting that the “Digital segment continued to see growth in advertising revenue, though on a lower base.” This highlights the ongoing shift in media consumption patterns and advertiser preferences toward digital platforms.

Network18’s news operations span multiple languages and platforms, including traditional TV broadcasts and growing digital properties. (Image: Representative)

The company attributes its resilience in this difficult environment to its strong market position: “Despite a weak ad environment, our News business showed impressive resilience on the back of its leadership position.” This leadership across multiple markets has allowed Network18 to maintain relative stability in its financial results despite the broader industry challenges.

Full-Year FY25 Performance

Looking at the full fiscal year, the Network18 financial results show that consolidated revenue from operations reached ₹6,887.92 crore for the year ended March 31, 2025. On a standalone basis, which provides better insight into the core business operations, revenue from operations grew by 4.3% to ₹1,896.21 crore, up from ₹1,817.73 crore in the previous year.

The company’s earnings statement highlighted that this growth was achieved “despite a 15 per cent decline in advertising inventory consumption for the TV News industry.” Network18 attributed this performance to “growth in ad pricing, which the network has been able to drive on the back of strong viewership shares across multiple markets.”

The annual Network18 financial results also noted that EBITDA for the year improved marginally as operating costs grew by just 3.5%, indicating the company’s focus on operational efficiency and cost control in a challenging market environment.

Management Outlook and Strategy

Network18 Chairman Adil Zainulbhai provided a positive outlook despite the current challenges, emphasizing the company’s strong market position and long-term potential in his statement accompanying the financial results.

This statement reflects the company’s confidence in its diversified portfolio and market leadership despite the challenging short-term economic environment. The management appears focused on leveraging Network18’s strong viewer relationships and multi-language presence to drive future growth, even as the industry navigates through current headwinds.

Network18 in the Indian Media Landscape

To put the Network18 financial results in context, it’s important to understand the company’s significant position in India’s media ecosystem. Network18 Media & Investments owns over 20 news channels across 16 languages, including prominent brands such as CNBC TV18 and CNN-News18, along with four major online platforms including moneycontrol and Firstpost.

This diversified portfolio provides Network18 with multiple revenue streams and audience touchpoints, which help buffer against challenges in any single segment of the media market. The company’s strong presence across languages and platforms positions it well to capture future growth opportunities as India’s media consumption patterns continue to evolve.

The Network18 financial results for Q4 and FY25 highlight both current challenges and long-term opportunities. While facing short-term pressure from a subdued advertising environment and industry-wide decline in TV news advertising inventory consumption, the company has demonstrated resilience through its market leadership position, growing digital segment, and ability to drive ad pricing despite inventory challenges.

As Network18 moves forward, its focus appears to be on continuing to leverage its strong market position across multiple language markets while navigating the ongoing shift toward digital platforms and managing costs in a challenging economic environment. The company’s leadership expresses confidence in long-term growth prospects while acknowledging the current macroeconomic headwinds facing the global and Indian markets.

Published on April 20, 2025 | Updated on April 20, 2025