Media Matrix Worldwide Posts Rs 181.21 Crore Profit in Q1, Approves Key Corporate Actions

Media Matrix Worldwide Limited (MMWL) has reported a consolidated net profit of Rs 181.21 crore for the first quarter ended June 30. The company's Board of Directors approved the unaudited financial results and several key corporate actions during its meeting held on August 13.

Financial Performance

For Q1, MMWL recorded consolidated revenue from operations of Rs 233.65 crore. The company's performance demonstrates its resilience in the digital media and electronic items trading business.

Key Corporate Actions

The Board of Directors has approved several significant corporate actions:

1. Shifting of Registered Office: The company plans to move its registered office from Maharashtra to Haryana. The new address will be Plot no. 38, 4th Floor, Institutional Area, Sector 32, Gurugram-122001, Haryana. This decision is subject to shareholder approval and regulatory clearances.

2. Re-appointment of Key Executive: Mr. Sandeep Jairath has been re-appointed as Whole Time Director cum Chief Financial Officer for a term of three years, from May 25, 2026, to May 24, 2029. This re-appointment is subject to shareholder approval at the upcoming annual general meeting.

Consolidated Results

The consolidated financial results include the performance of MMWL's subsidiary companies:

1. nexG Devices Private Limited (NDPL)
2. Media Matrix Enterprises Private Limited (MMEPL)

Other Financial Highlights

• The company reported a significant gain of Rs 509.38 crore in Other Comprehensive Income, primarily due to changes in the fair value of investments held by one of its subsidiary companies.
• Basic and Diluted Earnings Per Share (EPS) for the quarter stood at Rs 0.0131 (not annualized).

Business Segments

Media Matrix Worldwide Limited operates in the "Digital Media and Electronic Items trading" business. The company's financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013.

Regulatory Status

MMWL is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). However, the company has applied for deregistration as an NBFC and will continue to comply with NBFC regulations until its investments fall below 50% of total assets, as per RBI guidelines.

The financial results and corporate actions approved by the Board of Directors reflect Media Matrix Worldwide Limited's strategic moves to strengthen its position in the digital media and electronic trading sectors.