Next Mediaworks Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing continued operational challenges. The company reported a net loss of ₹103 lacs for Q3FY26, marking a slight increase from the ₹97 lacs loss recorded in the corresponding quarter of the previous year.

Financial Performance Overview

The company's financial performance for the quarter reflects ongoing difficulties, with total income limited to ₹17 lacs from other income sources, while revenue from operations remained nil. This represents a significant decline from the ₹43 lacs in other income recorded during Q3FY25.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Next Mediaworks recorded a net loss of ₹335 lacs, showing improvement compared to the ₹359 lacs loss in the corresponding period of FY25. Total income for the nine-month period stood at ₹17 lacs, significantly lower than the ₹44 lacs recorded in the previous year.

Expense Structure and EBITDA

The company's expense structure for Q3FY26 was dominated by finance costs of ₹114 lacs, compared to ₹112 lacs in Q3FY25. Other expenses totaled ₹6 lacs, while employee benefit expenses were nil during the quarter. The company reported positive EBITDA of ₹11 lacs for Q3FY26, compared to ₹15 lacs in Q3FY25.

Going Concern Assessment

A critical development in the results is the company's assessment regarding its going concern status. As of December 31, 2025, Next Mediaworks has significant accumulated losses and fully eroded net worth, primarily due to finance costs on inter-corporate borrowing from Next Radio Limited. The management has determined that the going concern assumption is no longer appropriate, and accordingly, the financial results have been prepared on a non-going concern basis.

The company's auditors, S.R. Batliboi & Associates LLP, have included an emphasis of matter in their review report highlighting this assessment. The company does not have any business operations, operating cash flows, or definitive business plans, making its ability to settle inter-corporate borrowing uncertain. This borrowing is contractually due for repayment in August 2027.

Corporate Governance and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 23, 2026. The company maintains a paid-up equity share capital of ₹6,689 lacs with a face value of ₹10 per share. Next Mediaworks is no longer required to prepare consolidated financials as per Ind AS 110 effective February 7, 2025.

Next Mediaworks Limited , a prominent player in the media sector, has released its unaudited financial results for the quarter and six months ended September 30, 2025, revealing ongoing financial challenges and a deterioration in its net worth position.

Financial Performance

The company reported a loss per share of INR 0.19 for the quarter and INR 0.39 for the six-month period. These figures underscore the financial difficulties faced by Next Mediaworks in the current fiscal year.

Key Financial Metrics

The company's revenue generation remains minimal, with only INR 1.00 lakh reported for both the quarter and the half-year. This is in stark contrast to the total expenses of INR 115.00 lakhs for the quarter and INR 232.00 lakhs for the half-year, primarily driven by finance costs.

Net Worth Erosion and Borrowings

A significant concern highlighted in the financial results is the erosion of the company's net worth as of September 30, 2025. This erosion is primarily attributed to inter-corporate borrowings amounting to INR 3,684.00 lakhs, which are due for settlement in August 2027.

Liquidity Position

Despite the net worth erosion, Next Mediaworks maintains a balanced current assets to current liabilities ratio. The company reports no external borrowings from banks or financial institutions as of the reporting date.

Support from Holding Company

In light of these financial challenges, the company has received a letter of support from its holding company. The holding company has agreed to provide operational support by covering Next Mediaworks' operating expenses in case of any resource shortfall.

Other Comprehensive Income

The financial results also reveal a significant impact on other comprehensive income, with a fair value movement of INR 415.00 lakhs due to a decline in the fair value of equity instruments classified under 'Fair value through other comprehensive income'.

Auditor's Review

S.R. Batliboi & Associates LLP, the statutory auditors, conducted a limited review of the financial results and issued an unmodified review conclusion. This indicates that the auditors did not find any material misstatements in the financial information presented by the company.

Next Mediaworks' financial performance reflects the ongoing challenges in the media sector, with the company focusing on managing its debt obligations and maintaining operational stability with the support of its holding company.