Next Mediaworks Reports Q2 Results, Notes Deterioration of Net Worth and Going Concern Status
Next Mediaworks Limited has released its unaudited financial results for the quarter ended June 30, 2026. The company's board approved the Un-Audited Financial Results (UFRs), which were reviewed by S.R. Batliboi & Associates LLP, and have been taken on record following a Limited Review Report issued by the Statutory Auditors.The results reflect a quarter marked by losses across various metrics. Total income stood at 9 INR Lacs in the current period, while total expenses amounted to 122 INR Lacs. This resulted in a loss before exceptional items and tax of (113) INR Lacs, translating into a Loss after tax for the period of (88) INR Lacs.
The company's financial standing was noted by auditors, who pointed out that as of June 30, 2026, the company has significant accumulated losses and its net worth is fully eroded. This erosion is primarily attributed to finance costs incurred on inter-corporate borrowing from Next Radio Limited. Consequently, management assessed that the going concern assumption is no longer appropriate, and these financial results were prepared based on a non-going concern basis.
The unaudited financial results and comparative figures are presented below:
| Particulars | June 30, 2026 (Unaudited) | Q ended March 31, 2026 (Audited) | June 30, 2025 (Unaudited) | March 31, 2026 (Audited) |
|---|---|---|---|---|
| Other Income | 9 INR Lacs | 3 INR Lacs | - | 20 INR Lacs |
| Total Income | 9 INR Lacs | 3 INR Lacs | - | 20 INR Lacs |
| Finance Costs | 117 INR Lacs | 117 INR Lacs | 110 INR Lacs | 452 INR Lacs |
| Other Expenses | 5 INR Lacs | 7 INR Lacs | 7 INR Lacs | 24 INR Lacs |
| Loss before exceptional items and tax | (113) INR Lacs | (121) INR Lacs | (117) INR Lacs | (456) INR Lacs |
| Loss before tax | (113) INR Lacs | (193) INR Lacs | (117) INR Lacs | (528) INR Lacs |
| Loss after tax for the period | (88) INR Lacs | (193) INR Lacs | (117) INR Lacs | (528) INR Lacs |
The financial statement review confirms that management has assessed that the company's ability to settle the inter-corporate borrowing, which is due for repayment in August 2027, remains uncertain. Despite having a net current asset position as of June 30, 2026, the company does not currently have any business operations, operating cash flows, or definitive business plans.
NEXTMEDIA Stock Price Movement
Shares of Next Mediaworks Limited are rallying to ₹3.97 as of 1:09 PM, pushing the stock up by 1.28% in live trading. The equity is currently seeing strong intraday movement within a range spanning from ₹3.83 to a high of ₹4.03.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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