Sea TV Network Limited announced its unaudited financial results for the third quarter ended December 31, 2025, revealing mixed performance across standalone and consolidated operations. The Board of Directors approved these results during a meeting held on February 5, 2026, conducted through video conferencing from 01:00 P.M. to 01:30 P.M. (IST).

Standalone Financial Performance

The company's standalone operations showed improvement in loss reduction compared to the previous year. Sea TV Network reported a net loss of ₹61.19 lacs for Q3FY26, representing a significant improvement from the ₹103.21 lacs loss recorded in the corresponding quarter of the previous year.

Revenue from operations declined to ₹129.94 lacs from ₹143.44 lacs in the same quarter last year, marking a decrease of approximately 9.41%. Total income, including other income of ₹1.50 lacs, stood at ₹131.43 lacs compared to ₹146.39 lacs in Q3FY25.

Consolidated Results Show Higher Losses

On a consolidated basis, the company's performance was significantly weaker, with Sea TV Network and its subsidiaries reporting a net loss of ₹378.43 lacs for the quarter. This compares to a loss of ₹26.17 lacs in the corresponding quarter of the previous year.

The consolidated revenue from operations increased substantially to ₹480.09 lacs from ₹206.67 lacs, but this was offset by higher expenses totaling ₹895.72 lacs.

Expense Analysis and Operational Metrics

Employee benefits expense constituted the largest component of standalone costs at ₹110.35 lacs, followed by other expenses of ₹72.58 lacs. Finance costs remained minimal at ₹0.17 lacs, while depreciation and amortization expense stood at ₹9.53 lacs.

The company maintains a paid-up equity share capital of ₹1,202.00 lacs with a face value of ₹10 per share, remaining unchanged across all reported periods.

Auditor Observations and Compliance Issues

Doogar & Associates, the company's statutory auditors, issued a qualified review report highlighting non-compliance with Ind AS 109 Financial Instruments. The auditors noted that the company failed to provide interest on unsecured loans amounting to ₹53.26 lacs for the quarter and ₹163.31 lacs for the nine months ended December 31, 2025.

According to the auditor's report, had the interest on loans been provided as required, the company's loss would have been higher by ₹53.26 lacs for the quarter and ₹163.31 lacs for the nine months period.

Subsidiary Information

The consolidated results include two subsidiary companies: Jain Telemedia Services Limited and Sea News Network Limited. These subsidiaries contributed total revenues of ₹228.90 lacs and net profit of ₹35.03 lacs for the quarter, as certified by their respective managements.

Sea TV Network Limited, a media company, has released its unaudited financial results for the second quarter and half-year ended September 30, 2025, revealing significant auditor concerns regarding interest provisions on unsecured loans.

Financial Results and Auditor Concerns

The Board of Directors of Sea TV Network Limited approved the unaudited standalone and consolidated financial results in a meeting held on November 10, 2025. However, the company's auditors highlighted crucial issues in their limited review report:

• Non-provision of interest on unsecured loans amounting to Rs 56.16 lakhs for the quarter
• Non-provision of interest on unsecured loans totaling Rs 110.04 lakhs for the half-year

The auditors noted that this non-recognition of interest expense does not comply with IndAS 109 Financial Instruments requirements. They further emphasized that had the interest been provided, the company's losses would have been higher by the respective amounts.

Subsidiary Companies

The consolidated results include financial data from two subsidiary companies:

1. Jain Telemedia Services Limited
2. Sea News Network Limited

Board Meeting Details

Documents Submitted

As per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has submitted the following documents:

1. Limited Review Report on the Standalone and Consolidated Financial Results
2. Un-Audited Financial Results (Standalone & Consolidated) for the Second quarter/Half year ended September 30, 2025

Implications for Investors

The auditor's concerns regarding the non-provision of interest on unsecured loans raise questions about the company's financial reporting practices. Investors should carefully consider these issues when evaluating Sea TV Network's financial health and performance.

As the company has not provided the actual financial figures in the available information, investors are advised to review the detailed financial statements once they are made public to get a complete picture of Sea TV Network's financial position and performance for the quarter and half-year ended September 30, 2025.