Network18 Media & Investments Limited has submitted to the Exchange, the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2025, along with the Limited Review Reports of the Statutory Auditors on the same.
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Network18 submitted its Q1 FY26 unaudited results along with a clean limited review report from Deloitte Haskins & Sells LLP (no qualifications or emphasis of matter). On a standalone basis, revenue from operations rose modestly to Rs 438.89 crore from Rs 430.40 crore a year ago, but the company continued to post an operational loss of Rs 70.84 crore before tax and exceptional items. A one-time exceptional gain of Rs 587.01 crore from the fair valuation of its 24.5% stake in Eenadu Television (ETPL) swung standalone profit after tax to Rs 537.97 crore. On a consolidated basis, revenue fell sharply to Rs 467.86 crore from Rs 3,140.92 crore, but this is due to Indiacast Media and Viacom18 (Studio18) ceasing to be subsidiaries in late 2024, making year-on-year figures not comparable. Consolidated operational loss before exceptional items narrowed dramatically to just Rs 1.79 crore from Rs 194.13 crore, helped by a Rs 70.32 crore share of profits from associates. An exceptional gain of Rs 150.64 crore from ETPL pushed consolidated PAT to a profit of Rs 148.85 crore. ETPL also ceased to be an associate w.e.f. July 7, 2025, with voting rights assigned to ETPL's promoter while the company retains economic interest in the shares.
The headline swing to profit is largely driven by a one-time accounting gain from revaluing the ETPL stake, not from core operations, so it does not reflect sustainable earnings power. The structural change from losing Viacom18/Indiacast as subsidiaries and ETPL as an associate reshapes the business profile, while the sharp narrowing of consolidated operational losses is a genuinely positive sign for underlying performance. Investors should focus on the improved consolidated operating margin of 15.92% (versus negative earlier) and the reduced operational burn rather than the one-time exceptional item.