Music Broadcast reported a return to profitability for the first quarter ended June 30, 2026, with a net profit of ₹922.25 lakh. This marks a significant turnaround from the net loss of ₹217.42 lakh recorded in the same period last year. Revenue from operations for the quarter stood at ₹4,454.32 lakh, while total income increased to ₹5,274.41 lakh, driven by a rise in other income to ₹820.09 lakh.

The Board of Directors approved the unaudited financial results on July 22, 2026, following the recommendations of the Audit Committee. M/s. S.N. Dhawan & Co. LLP, Statutory Auditors of the Company, issued a Limited Review Report on the results. The meeting commenced at 02:30 P.M. and concluded at 04:30 P.M.

Financial Performance

The company's profit before tax for the quarter was ₹1,232.35 lakh, compared to a loss before tax of ₹217.98 lakh in Q1FY25. Total expenses for the quarter were managed at ₹4,042.06 lakh, a decrease from ₹5,852.10 lakh in the corresponding previous quarter. The finance costs reduced significantly to ₹72.19 lakh from ₹305.98 lakh in the prior year.

Earnings per share (EPS) for the quarter improved to ₹0.27, basic and diluted, from a negative ₹0.06 in the same quarter last year.

Regulatory and Legal Disclosures

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that during the previous financial year, it redeemed all its outstanding Non-Convertible Redeemable Preference Shares (NCRPS) on January 19, 2026. Consequently, no listed non-convertible securities were outstanding as on June 30, 2026, and disclosure requirements under Regulation 52 are not applicable.

The auditors drew attention to ongoing disputes and legal proceedings amongst the promoters and promoter group members of Jagran Prakashan Limited, the Holding Company. This includes petitions filed before the National Company Law Tribunal (NCLT) and an Extraordinary General Meeting held on May 29, 2026, regarding the removal of directors. The National Company Law Appellate Tribunal (NCLAT) has directed that the implementation of the resolutions passed at the EGM remain in abeyance pending the NCLT's adjudication. Management stated it does not anticipate any material adverse impact on the company's financial position or future operations due to these matters.

Music Broadcast has received a demand notice from the Deputy Collector, Stamp Duty Valuation Organization, Division-2, Ahmedabad, alleging a shortfall in stamp duty payment on a lease deed. The notice, received on July 08, 2026, demands a total payment of ₹19,94,930, which includes a penalty of ₹17,09,940 in addition to the principal duty amount of ₹2,84,990. The order was issued under Section 68 (2) of the Gujarat Stamp Act, 1958, and other applicable provisions of the Act.

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The regulatory filing references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and SEBI Circular No. SEBI/HO/CFD/CFDPoD-2/P/CIR/2025/25 dated February 25, 2025.

Breakdown of Demand

The authority has alleged a deficit in the stamp duty payable on a lease deed executed by the company. The financial implications are currently limited to the amount specified in the order.

Company Response

Music Broadcast stated that it is examining the matter in consultation with its legal advisors. The company intends to evaluate the appropriate legal remedies available under law and the next course of action. It further confirmed that it will provide updates on the matter in due course.