Network18 Media & Investments Ltd. yesterday reported a loss of Rs 1,400 crore in the December quarter, while its revenue from operations was Rs 1,360.50 crore, which is not comparable with the year-ago period due to the merger of its subsidiary Viacom18 with Star India.

It reported a Rs 25.68-crore profit before exceptional items. However, on a consolidated basis, it faced a loss of Rs 1,425.73 crore, due to the derecognition of its subsidiaries, which has been accounted on a provisional basis during the quarter, a PTI report stated.

“Accordingly, the figures for the corresponding previous periods are not comparable,” it said.

Meanwhile, a statement issued by the media company said news business revenue grew marginally as the advertising environment continued to be lukewarm. Consumer demand did not witness a meaningful pickup during the festive period, resulting in brands holding back on advertising spends.

“Advertising volumes for the TV news industry saw a marginal uptick on a QoQ basis but declined 11 percent YoY, putting pressure on revenue growth. Digital segment continued to see growth in advertising

revenue, though on a lower base,” the statement added.

Operating expense grew 4 percent YoY during the quarter, leading to a lower EBITDA. However, during 9MFY25, EBITDA has seen a sharp improvement as revenue has grown by 7 percent vis-a-vis 4 percent growth in costs.

TV news network viewership share improved by more than 100bps while maintaining leadership in key genres and the group’s portfolio of 20 channels continued to be the highest reach TV news network in the

country with a weekly reach of 180+ million people across the country.

While CNBC TV18 has been the undisputed leader since inception, CNN News18 has been a consistent #1 for more than two years, the network said, adding it has the widest language footprint in the country through its portfolio of 14 regional channels spanning most of the widely spoken Indian languages.

Network18’s digital portfolio comprising Moneycontrol, News18 and Firstpost, makes it one of the leading digital news publishers in India. It maintained its position as the second highest reach digital publishing networks with 215 million six-monthly unique visitors. Moneycontrol was the #1 player in terms of unique visitors.

The company also stated that on December 30, 2024, Viacom18 ceased to be a subsidiary of Network18, post conversion of the Compulsory Convertible Preference Shares (CCPS) of Viacom18, held by Reliance Industries, into equity shares. The company now holds 16.12 percent of the equity share capital of Viacom18 and 13.54 percent on a fully diluted basis, it said.

Adil Zainulbhai, Chairman of Network18, in a statement said: “The restructuring of the business is now complete, simplifying the corporate structure for all our stakeholders. We are pleased with the progress made on the operating front, especially the manner in which our television network is growing.

“Having established leadership positions in national markets, we are now focused on select regional markets for driving the next phase of growth. Our Digital business is also gaining momentum, and we are harnessing the combined strength of our platforms to deliver a superlative and seamless experience to our consumers.”