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NDTV Q2 FY26 results: net loss widens to ₹74.01 crore, revenue up 9.8%
NDTV LTD reported consolidated revenue of ₹122.27 crore in Q2 FY26, up 9.8% from ₹111.32 crore a year earlier, while the net loss widened to ₹74.01 crore. EBITDA was a loss of ₹56.87 crore and the EBITDA margin was -46.5%, compared with -38.9% in Q2 FY25 and -53.5% in Q1 FY26.
Key points
- Consolidated revenue was ₹122.27 crore in Q2 FY26, up ₹10.95 crore or 9.8% from ₹111.32 crore in Q2 FY25.
- NDTV reported an EBITDA loss of ₹56.87 crore in Q2 FY26, compared with an EBITDA loss of ₹43.31 crore in Q2 FY25 and ₹57.62 crore in Q1 FY26.
- The consolidated net loss was ₹74.01 crore in Q2 FY26, against a net loss of ₹53.45 crore in Q2 FY25 and ₹70.31 crore in Q1 FY26.
- Basic EPS was -₹11.49 in Q2 FY26, compared with -₹8.19 in Q2 FY25 and -₹10.92 in Q1 FY26.
- Total assets were ₹691.11 crore at 30 September 2025, while total equity was -₹86.99 crore and borrowings were ₹390.29 crore.
How did NDTV perform in Q2 FY26?
Consolidated revenue for Q2 FY26 was ₹122.27 crore, up 9.8% from ₹111.32 crore in Q2 FY25 and up 13.6% from ₹107.65 crore in Q1 FY26. EBITDA was a loss of ₹56.87 crore, compared with a loss of ₹43.31 crore a year earlier and ₹57.62 crore in the previous quarter. The EBITDA margin was -46.5%, against -38.9% in Q2 FY25 and -53.5% in Q1 FY26.
The net loss widened to ₹74.01 crore in Q2 FY26 from ₹53.45 crore in Q2 FY25 and ₹70.31 crore in Q1 FY26. Loss attributable to owners was ₹74.11 crore, compared with ₹52.77 crore and ₹70.38 crore in the respective comparison periods. Basic EPS was -₹11.49, against -₹8.19 in Q2 FY25 and -₹10.92 in Q1 FY26. On a standalone basis, revenue was ₹63.44 crore and the company reported a net loss of ₹70.39 crore.
| ₹ crore | Q2 FY26 | Q1 FY26 | Q2 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 122.27 | 107.65 | 111.32 | +9.8% | +13.6% |
| Other income | 2.69 | 4.94 | 0.68 | +295.6% | −45.5% |
| Total expenses | 197.90 | 182.67 | 164.76 | +20.1% | +8.3% |
| EBITDA | −56.87 | −57.62 | −43.31 | ||
| EBITDA margin | -46.5% | -53.5% | -38.9% | −7.6 pp | +7.0 pp |
| Profit before tax | −72.94 | −70.08 | −52.76 | ||
| Tax | 1.32 | 0.29 | 0.78 | +69.2% | +355.2% |
| Net profit | −74.01 | −70.31 | −53.45 | ||
| EPS (₹) | −11.49 | −10.92 | −8.19 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in NDTV's costs and profit?
Total expenses rose to ₹197.90 crore in Q2 FY26 from ₹164.76 crore in Q2 FY25, an increase of ₹33.14 crore or 20.1%. Employee cost was ₹46.47 crore, up ₹4.34 crore or 10.3%, while finance costs rose by ₹5.87 crore or 144.6% to ₹9.93 crore. Depreciation increased by ₹2.76 crore or 45.5% to ₹8.83 crore, and other expenses were ₹132.67 crore, up ₹20.17 crore or 17.9%.
Other income increased by ₹2.01 crore to ₹2.69 crore from ₹0.68 crore in Q2 FY25, while total income was ₹124.96 crore, up ₹12.96 crore or 11.6%. The company reported no exceptional item in either quarter. Tax expense was ₹1.32 crore, compared with ₹0.78 crore a year earlier, and the loss before tax was ₹72.94 crore against ₹52.76 crore in Q2 FY25.
| ₹ crore | Q2 FY26 | Q2 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 46.47 | 42.13 | +4.34 | +10.3% |
| Finance costs | 9.93 | 4.06 | +5.87 | +144.6% |
| Depreciation | 8.83 | 6.07 | +2.76 | +45.5% |
| Other expenses | 132.67 | 112.50 | +20.17 | +17.9% |
| Total expenses | 197.90 | 164.76 | +33.14 | +20.1% |
| Other income | 2.69 | 0.68 | +2.01 | +295.6% |
| Tax | 1.32 | 0.78 | +0.54 | +69.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2025, total assets were ₹691.11 crore, compared with ₹643.04 crore at 31 March 2025. Total equity was -₹86.99 crore against ₹60.26 crore, while borrowings were ₹390.29 crore compared with ₹261.05 crore. Cash and cash equivalents were ₹13.38 crore, higher than ₹9.79 crore, and trade receivables were ₹145.94 crore against ₹140.12 crore.
For H1 FY26, operating cash flow was -₹31.89 crore, compared with -₹35.86 crore in H1 FY25. Investing cash flow was -₹10.28 crore against -₹60.97 crore, while financing cash flow was ₹115.84 crore compared with ₹93.68 crore. Capital expenditure was ₹16.9 crore, against ₹62.2 crore in the earlier period.
| ₹ crore | As of 30 September 2025 | As of 31 March 2025 |
|---|---|---|
| Total assets | 691.11 | 643.04 |
| Total equity | −86.99 | 60.26 |
| Borrowings | 390.29 | 261.05 |
| Cash and equivalents | 13.38 | 9.79 |
| Inventories | 0 | 0 |
| Trade receivables | 145.94 | 140.12 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY26 | H1 FY25 |
|---|---|---|
| Cash from operations | −31.89 | −35.86 |
| Cash from investing | −10.28 | −60.97 |
| Cash from financing | 115.84 | 93.68 |
| Capital expenditure | 16.90 | 62.20 |
Source: Company's results filing (XBRL).
How has NDTV done over the last 8 quarters?
Revenue reached a high of ₹132.74 crore in Q3 FY25 and a low of ₹93.92 crore in Q1 FY25 before rising to ₹122.27 crore in Q2 FY26. Revenue has risen year on year in each of the last seven quarters. The latest result was below the Q3 FY25 peak but above the preceding quarter’s ₹107.65 crore.
The net loss was largest at ₹74.01 crore in Q2 FY26 and had reached ₹61.97 crore in Q4 FY25, while the EBITDA margin bottomed at -53.5% in Q1 FY26 before improving to -46.5%. Margin remained below the -38.9% recorded in Q2 FY25, and the latest net loss was wider than the ₹70.31 crore reported in the preceding quarter.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025. It also appointed Akhil Kumar Gupta as Chief Financial Officer and Key Managerial Personnel effective 1 December 2025, replacing Anup Dutta, who had attained the age of superannuation and was serving an extension.
The board re-appointed Viral Jagdish Doshi as an Independent Director for a second term of 3 years, from 24 January 2026 to 23 January 2029. The same-day filing did not announce a dividend or fund raise.
How did NDTV shares react?
| After the filing | Stock | TV Broadcasting & Software Production median |
|---|---|---|
| 5 minutes | −0.5% | |
| 15 minutes | −0.6% | |
| 30 minutes | −1.0% | |
| Reaction day | −1.1% | −0.1% |
| Next day | −2.4% | −0.5% |
| 5 days | −7.4% | −2.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 25 July 2025 | −4.1% |
| 25 April 2025 | −0.3% |
| 25 January 2025 | −5.7% |
| 23 October 2024 | +0.0% |
| 29 July 2024 | +0.5% |
| 26 April 2024 | −2.6% |
Source: MarketPing price-reaction measurement.
How did other TV Broadcasting & Software Production companies do?
Sixteen other TV Broadcasting & Software Production companies filed for the quarter. Their median revenue growth was 1.5%; 10 grew more slowly than NDTV and six grew faster than NDTV’s 9.8% revenue growth. Six of the 16 companies reported higher profit.
| NDTV revenue growth (YoY) | +9.8% |
|---|---|
| Median of 16 other TV Broadcasting & Software Production companies | +1.5% |
| Companies with slower revenue growth than NDTV | 10 of 16 |
| Companies with faster revenue growth than NDTV | 6 of 16 |
| Companies whose net profit rose | 6 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was NDTV's revenue in Q2 FY26?
Revenue from operations was ₹122.27 crore, up 9.8% from ₹111.32 crore in Q2 FY25 (consolidated).
Did NDTV make a profit in Q2 FY26?
No. It reported a net loss of ₹74.01 crore, against a net loss of ₹53.45 crore in Q2 FY25.
What was NDTV's EPS in Q2 FY26?
Basic loss per share was ₹11.49, against a loss of ₹8.19 in Q2 FY25.
How did NDTV shares react to the Q2 FY26 results?
On the reaction day the stock moved −1.1% from the previous close; the median TV Broadcasting & Software Production stock moved −0.1%.
When did NDTV announce its Q2 FY26 results?
On 29 October 2025, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2025. (BSE, 22 October 2025) · PDF
- Outcome of Board Meeting (NSE, 29 October 2025) · PDF
- Outcome of Board Meeting (NSE, 29 October 2025) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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