Sambhaav Media Reports Mixed Q1 Results: Standalone Profit Amidst Consolidated Loss

Sambhaav Media Limited , a diversified media company, has reported mixed financial results for the first quarter. The company's performance shows a contrast between its standalone and consolidated figures, reflecting the challenges and opportunities in the media and technology sectors.

Standalone Performance

On a standalone basis, Sambhaav Media has shown improvement in its financial metrics:

• Net Profit: The company reported a net profit of ₹0.70 lakhs, a significant turnaround from a loss of ₹0.26 lakhs in the same quarter last year.
• Revenue: Revenue from operations increased to ₹814.65 lakhs, up from ₹786.73 lakhs year-over-year, indicating a growth of about 3.55%.
• Total Income: The total income for the quarter stood at ₹852.70 lakhs, compared to ₹835.73 lakhs in the corresponding quarter of the previous year.

Consolidated Results

However, the consolidated results paint a different picture:

• Net Loss: The company recorded a consolidated net loss of ₹27.82 lakhs, which is higher than the loss of ₹14.68 lakhs in the previous year's corresponding quarter.
• Revenue: Consolidated revenue from operations increased to ₹922.53 lakhs from ₹913.58 lakhs year-over-year.
• Total Income: The total consolidated income for the quarter was ₹951.96 lakhs, slightly lower than ₹953.96 lakhs in the same quarter of the previous year.

Segment Performance

Sambhaav Media operates through two main segments:

1. Media and Allied Business: This segment generated revenue of ₹621.56 lakhs, up from ₹579.62 lakhs in the same quarter last year.
2. Technology and Allied Business: This segment reported revenue of ₹300.97 lakhs on a consolidated basis, down from ₹333.96 lakhs in the corresponding quarter of the previous year.

Other Key Highlights

• The company's finance costs have decreased significantly on a standalone basis, from ₹36.42 lakhs to ₹19.00 lakhs.
• Depreciation and amortization expenses have also reduced from ₹96.08 lakhs to ₹86.12 lakhs on a standalone basis.
• The company has one subsidiary, Ved Technoserve India Private Limited.

Ongoing Tax Assessment

Sambhaav Media disclosed that it is currently undergoing an Income Tax Department assessment following a search operation conducted in September 2021. The company has received notices for assessment years 2021-22 and 2022-23 and has filed necessary responses and appeals. The management believes that these developments are unlikely to have a significant impact on the company's financial position.

Management Commentary

Manoj B Vadodaria, Managing Director of Sambhaav Media Limited, stated, "Our Q1 results demonstrate the resilience of our core media business, which has shown growth despite challenging market conditions. While we've seen improvement in our standalone performance, we are actively working on strategies to enhance our consolidated results, particularly in our technology segment."

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting. The company's statutory auditors have issued an unmodified limited review report on the financial results.

Sambhaav Media Limited continues to navigate the evolving media and technology landscape, focusing on its core competencies while addressing challenges in its subsidiary operations.