Network18 swings to loss as one-time gain fades, costs rise
Standalone net loss of ₹77.92 cr in Q1 FY27 after a year-ago profit that included ₹587 cr exceptional item. Consolidated loss at ₹38.71 cr.
— 2 earlier stories on Network 18 Media & Investments Ltd. →What's new
- Standalone revenue rose 10% YoY to ₹475.28 cr
- Swung from profit of ₹516.17 cr (incl. ₹587 cr exceptional gain) to loss of ₹77.92 cr
- Consolidated net loss at ₹38.71 cr vs profit of ₹148.03 cr
Why this matters
The headline loss isn't the story — the year-ago profit was flattered by a one-time gain from Eenadu Television. Strip that out, and Network18's core operations are still bleeding, with higher marketing and operating costs eating into revenue growth. The market already anticipated these numbers; the real test is whether management can contain costs without sacrificing ad share.
What we're watching
- Trend in marketing and operating expenses in coming quarters
- Any update on digital or regional expansion plans
- Whether margin pressure persists into Q2
The full read
Network18's Q1 FY27 results reveal the company without the ₹587 crore one-time cushion. Standalone revenue rose 10% to ₹475.28 crore, but higher operating and marketing costs pushed standalone net loss to ₹77.92 crore, a sharp reversal from the ₹516.17 crore profit a year ago. Consolidated revenue stood at ₹516.26 crore with a net loss attributable to owners of ₹38.71 crore. The prior quarter's profit was entirely due to the Eenadu Television exceptional gain; remove that, and the underlying loss is worse than this year's. The analyst rationale confirms no new guidance or strategic moves, as these numbers were already priced in. The next test is whether Network18 can arrest cost creep before it erodes ad-revenue gains from an election year.
Questions answered
- Why did Network18 report a net loss despite revenue growth?
- Revenue grew 10% but higher operating and marketing expenses outpaced that growth. The year-ago quarter had a ₹587 crore exceptional gain from the sale of its stake in Eenadu Television, which masked the underlying cost problem.
- How much did Network18 lose on a consolidated basis?
- Consolidated net loss attributable to owners was ₹38.71 crore for Q1 FY27, compared with a profit of ₹148.03 crore a year ago.
- Was this loss expected by the market?
- Yes, the results are backward-looking and were already anticipated after prior board meeting intimations. No surprises in the numbers.
- What was the impact of the Eenadu Television exceptional item in the year-ago quarter?
- In Q1 FY26, Network18 reported a standalone net profit of ₹516.17 crore, which included an exceptional gain of ₹587 crore from its erstwhile associate Eenadu Television. Excluding that, the company would have been loss-making even then.
Network 18 Media & Investments Ltd.
Latest quarter · Jun 2026
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All notes on NETWORK18 →- 15 Jul 2026 · 6:22 PM IST Network18 swings to loss as one-time gain fades, costs rise
- 13d ago Network18 revenue up 10% on election ads, but margin stays thin at 1.5%
- 13d ago Network18 swings to ₹38 cr loss as year-ago gain drops off