Network18 Media & Investments (NETWORK18) Q3 25/26 earnings summary

Executive summary

• Operating revenue for the news business rose 5% year-over-year to Rs. 500 crores in Q3 FY26, despite a weak advertising environment.

• Maintained #1 position in TV and digital news, with TV viewership share up 110 bps YoY to 14.2% and ~300 million monthly digital reach.

• Leadership sustained in key TV markets (Hindi, English, Marathi, Kannada) and strong digital engagement, including 100%+ YoY growth on YouTube.

• Creator18 expanded to over 60 exclusive creators, with top 10 reaching over 2 billion unduplicated users.

• Renewed 10-year partnership with CNN International, enhancing global digital presence.

Financial highlights

• Standalone operating revenue for Q3 FY26: Rs. 500.4 crore, up 5% YoY and 4.9% sequentially.

• Standalone operating EBITDA for Q3 FY26: Rs. 11.8 crore, up 2.2% YoY and 60.7% sequentially; EBITDA margin at 2.4%.

• Nine-month standalone revenue grew 2.4% YoY to Rs. 1,408 crore.

• Consolidated revenue from operations for Q3 FY26: Rs. 553.4 crore; total expenses at Rs. 613.2 crore.

• Q3 FY26 standalone net loss: Rs. 107.6 crore, impacted by exceptional items.

Outlook and guidance

• Management expects government measures to boost consumer spending, potentially improving the advertising environment.

• Continued focus on strengthening leadership in news and digital platforms.