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1 — At a Glance
T.V. Today Network runs news channels in Hindi and English, and sells the advertising around them.
Revenue for the three months to June 2026 was ₹206 crore, up 3.9 per cent year-on-year. Operating profit was ₹16 crore for the quarter, against ₹4 crore a year earlier. That moved the operating margin to 8 per cent from 2.1 per cent. Net profit was ₹10 crore, up 37.6 per cent on the same quarter last year. Earnings per share, the profit attributed to each share, stood at ₹1.72.
Operating profit for the whole of FY26 came to ₹31 crore. The June quarter on its own produced ₹16 crore of operating profit.
The radio business is now classified as a disposal group held for sale. That label covers assets a company expects to sell within the next year. The business is three 104.8 FM stations, in Mumbai, Delhi and Kolkata. The sale to Abhijit Realtors has been agreed at a price of ₹10 crore.
In April, Crisil, a credit-rating agency, cut the long-term rating to AA-/Negative from AA/Negative. The same agency reaffirmed the short-term rating at A1+ in that action.
Aaj Tak has crossed 72 million subscribers on YouTube, more people than live in the United Kingdom. Between them they follow a channel that reports what happened in a state assembly today.
The company is valued at ₹674 crore across its listed shares. The market pays ₹24.60 for every ₹1 of yearly profit.
2 — Introduction
T.V. Today Network was incorporated in 1999 and is promoted by the India Today group. That group dates to 1975 and spans news channels, its own publications, licensed titles and printing. The listed company broadcasts round-the-clock news channels in Hindi and in English. In Hindi there are Aaj Tak, Good News Today and Aaj Tak HD. The English service is India Today Television. In fiscal 2018 it acquired the digital operations business of Living Media India Limited, and has added properties since.
The last eighteen months have brought board decisions that do not show up in a revenue line. In April 2025 the board approved buying an immovable property in Noida for ₹200 crore. Crisil, a credit-rating agency, says that purchase was funded through the company’s cash balance. In July 2025 the board approved a ₹200 crore acquisition of Romesh Films. That deal completed on 25 September 2025, making Romesh Films a wholly-owned subsidiary. In March 2025 the board approved a rights subscription of ₹9.40 crore in Vibgyor Broadcasting, another wholly-owned subsidiary.
The exit from radio has taken two attempts, spread across more than a year. A February 2025 memorandum of understanding with Creative Channel Advertising and Marketing did not hold. Creative withdrew in the September 2025 quarter and the advance was forfeited. Impairment losses were then recognised on the radio assets, writing their book value down.
A fresh memorandum followed on 25 November 2025, with Abhijit Realtors, at ₹10 crore. The structure moves the radio business into Vibgyor, after which Vibgyor’s shares are transferred. The Ministry of Information and Broadcasting novated the Grant of Permission Agreement in January 2026. Novation transfers an existing agreement from one party to another. The WPC wing cleared the wireless licence migration on 2 April 2026.
Two tax demands are on record, and the company is contesting both. A demand of ₹11.16 crore for FY2019-20 arrived in February 2026, and the company said it will appeal. A CGST appeals order raised an input tax credit demand of ₹1.95 crore, with a penalty of ₹19.5 lakh. Input tax credit is the credit a company claims for tax already paid on purchases. In May the Income Tax Appellate Tribunal dismissed an appeal by the Income Tax Department. That dispute concerned ₹12.46 crore for assessment year 2018-19, and the tribunal ruled for the company.
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3 — Business Model: WTF Do They Even Do?
The company sells attention, mostly in Hindi, and the buyers are mostly advertisers. Income from advertisement was about 84 per cent of revenue in FY24. Subscription income was about 10 per cent, and interest income from financial assets about 3 per cent. Advertisement income from exchange of services and production support services were each about 1 per cent.
Aaj Tak launched in December 2000 and is the world’s most subscribed and watched news channel on YouTube. Around 30 digital-first video channels sit under the Tak brand names. They are spread across 10 content genres and five languages in total. The Lallantop, the first digital Hindi news platform, has over 33 million subscribers on YouTube. The English side of the network is carried by
