Integrated Filing — IndAS



General information about company

Scrip Code 532798
NSE Symbol NETWORK18
MSEI Symbol NOTLISTED
ISIN INE870H01013
Name of company Network18 Media & Investments Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 06-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Media operations
Start date and time of board meeting 14-01-2026   20:00:00
End date and time of board meeting 14-01-2026   20:40:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 53,937.00 1,50,504.00
Other income 1,403.00 2,721.00
Total income 55,340.00 1,53,225.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 19,667.00 59,533.00
(e) Finance costs 5,035.00 15,096.00
(f) Depreciation, depletion and amortisation expense 3,315.00 10,086.00
(f) Other Expenses
1 Operational Costs 12,294.00 32,333.00
2 Marketing, Distribution and Promotional Expense 14,913.00 39,067.00
3 Other Expenses 6,099.00 18,241.00
Total other expenses 33,306.00 89,641.00
Total expenses 61,323.00 1,74,356.00
3 Total profit before exceptional items and tax (5,983.00) (21,131.00)
4 Exceptional items (2,071.00) 12,993.00
5 Total profit before tax (8,054.00) (8,138.00)
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 0.00 0.00
9 Total tax expenses 0.00 0.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (8,054.00) (8,138.00)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 7,525.00 26,619.00
16 Total profit (loss) for period (529.00) 18,481.00
17 Other comprehensive income net of taxes 193.00 2,194.00
18 Total Comprehensive Income for the period (336.00) 20,675.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent (598.00) 18,273.00
Total profit or loss, attributable to non-controlling interests 69.00 208.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (400.00) 20,462.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 64.00 213.00
21 Details of equity share capital
Paid-up equity share capital 76,521.00 76,521.00
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.04 1.19
Diluted earnings (loss) per share from continuing operations -0.04 1.19
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.04 1.19
Diluted earnings (loss) per share from continuing and discontinued operations -0.04 1.19
24 Debt equity ratio 0.6400 0.6400
25 Debt service coverage ratio 1.3300 1.3900
26 Interest service coverage ratio 1.3300 1.3900
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) NOTES TO THE CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2025 a. The Audit Committee has reviewed the above results and the Board of Directors has approved the above results and its release at their respective meetings held on 14th January, 2026. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results. b. Formulae for computation of ratios are as follows - i. Debt Service Coverage Ratio = Earnings before Interest, Tax and Exceptional items ---------------------------------------------------------------- Interest Expense + Principal Repayments made during the period for long term loans ii. Interest Service Coverage Ratio = Earnings before Interest, Tax and Exceptional items ---------------------------------------------------------------- Interest Expense iii. Debt Equity Ratio = Total Debt (Non-Current Borrowings + Current Borrowings) --------------------------------------------------------------------- Equity attributable to Owners (Equity Share Capital + Other Equity) iv. Current Ratio = Current Assets --------------------- Current Liabilities v. Long Term Debt to Working = Non-Current Borrowings (including Current maturities of Non-Current Capital Borrowings) --------------------------------------------------------------------------------------- Current Assets Less Current Liabilities (excluding Current maturities of Non-Current Borrowings) vi. Bad Debts to Account Receivable = Bad Debts Ratio --------------- Average Trade Receivables vii. Current Liability Ratio = Current Liabilities --------------------- Total Liabilities viii. Total Debt to Total Assets = Total Debt (Non-Current Borrowings + Current Borrowings) ------------------------------------------------------------ Total Assets ix. Debtors Turnover = Revenue from Operations --------------------------------- Average Trade Receivables x. Inventory Turnover = Cost of Materials Consumed ------------------------------------- Average Inventories of Goods xi. Operating Margin Percent = EBITDA Less Other Income ------------------------------------- Revenue from Operations (EBITDA represents Profit/ (Loss) before Exceptional items, Finance Cost, Tax, Depreciation and Amortisation Expenses) xii. Net Profit Margin Percent = Profit/ (Loss) after Tax and before Exceptional items --------------------------------------------------------------- Total Income c. The Group operates primarily in a single reportable operating segment 'Media Operations'. Hence there are no separate reportable segments as per Ind AS 108 'Operating Segments'. d. Eenadu Television Private Limited (“ETPL”) ceased to be an associate of the Company w.e.f. 7th July, 2025 pursuant to assignment of the voting rights on the 24.5% equity holding in ETPL to the promoter of ETPL. The Company continues to hold the economic interest in these 24.5% equity shares. Accordingly, investment in ETPL has been fair valued and income of Rs. 150.64 crore being excess of fair value of holding in ETPL over carrying value has been disclosed as an exceptional item in the results for the quarter ended 30th June, 2025. e. The Company acquired equity shares, preference shares and debentures of IBN Lokmat News Private Limited (IBN) held by Lokmat Media Private Limited, Joint Venture Partner, for aggregate consideration of Rs. 25 crores on 29th October 2025. Post acquisition, IBN has become a wholly owned subsidiary of the Company. f. The Government of India has implemented four new Labour Codes (Codes), including the Code on Wages, 2019, with effect from 21st November 2025. The Group has carried out actuarial valuation for the quarter and nine months ended 31st December 2025 considering uniform definition of wages as per the Codes on Wages and recorded additional obligation of Rs. 20.71 crore, which has been disclosed as an exceptional item in the results for the quarter and nine months ended 31st December 2025. g. Indiacast Media Distribution Private Limited and Studio 18 Media Private Limited (Formerly Viacom 18 Media Private Limited) ceased to be subsidiary of the Company on 14th November, 2024 and 30th December, 2024 respectively. Accordingly, the figures for the corresponding previous periods are not comparable. Further, the following line items which form part of the Consolidated Financial Results for the quarter and nine months ended 31st December, 2025, are reproduced below, as there are no rows designated for the same in the XBRL format: Quarter Ended Nine Months ended 31st December'25 31st December'25 (i) Earnings per Equity Share (Face Value of Rs. 5 each) * Basic and Diluted (in Rs.) - Before Exceptional Items 0.10 0.35 Basic and Diluted (in Rs.) - After Exceptional Items (0.04) 1.19 (ii) Net Worth (including Retained Earnings) (Rs. in Crore) 1,448.46 1,448.46 (iii) Ratios A) Debt Service Coverage Ratio # 1.33 1.39 B) Interest Service Coverage Ratio # 1.33 1.39 C) Current Ratio 0.26 0.26 D) Long Term Debt to Working Capital - - E) Bad Debts to Account Receivable Ratio * - - F) Current Liability Ratio 0.93 0.93 G) Total Debt to Total Assets 0.35 0.35 H) Debtors Turnover * 0.77 2.22 I) Inventory Turnover * - - J) Operating Margin Percent # 15.74% 18.57% K) Net Profit Margin Percent # 2.79% 3.58% * Not Annualised for the interim periods # Excluding Exceptional Items



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to Profit or Loss 90.00 2,189.00
Total Amount of items that will not be reclassified to profit and loss 90.00 2,189.00
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to Profit or Loss 103.00 5.00
Total Amount of items that will be reclassified to profit and loss 103.00 5.00
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 193.00 2,194.00