Sambhaav Media returns to standalone profit; group loss persists

Sambhaav Media Limited reported a Rs 27.58 lakh standalone profit for the quarter ended September 30, 2026, reversing a Rs 100.74 lakh loss in the previous quarter. Sambhaav Media nevertheless recorded a Rs 25.21 lakh consolidated loss because a Rs 50.98 lakh associate loss exceeded its Rs 28.13 lakh consolidated profit before that item.

Why did Sambhaav Media return to standalone profit?

Sambhaav Media returned to standalone profit as total income exceeded total expenses by Rs 30.54 lakh before tax in the September 2026 quarter. After a Rs 2.96 lakh tax expense, it reported profit of Rs 27.58 lakh, compared with a Rs 100.74 lakh loss in the quarter ended June 30, 2026. The sequential swing in reported standalone profit was Rs 128.32 lakh.

The September result also compared with a Rs 15.24 lakh standalone loss in the quarter ended September 30, 2025. Standalone total income rose to Rs 10.2254 crore from Rs 9.3479 crore a year earlier, while total expenses increased to Rs 9.92 crore from Rs 8.6517 crore. Pre-tax profit was Rs 30.54 lakh in September 2026, against Rs 69.62 lakh a year earlier, while the tax line changed from Rs 22.50 lakh to Rs 2.96 lakh.

For the half year ended September 30, 2026, Sambhaav Media reported a standalone loss of Rs 73.16 lakh, against a Rs 14.55 lakh loss in the corresponding period of 2025. The September-quarter profit did not offset the June-quarter standalone loss of Rs 100.74 lakh. For the year ended March 31, 2026, standalone profit was Rs 44.40 lakh.

How did Sambhaav Media's revenue and costs change in September?

Sambhaav Media's standalone revenue from operations rose to Rs 9.8787 crore in the September 2026 quarter, from Rs 8.529 crore in the June 2026 quarter and Rs 9.0045 crore in the September 2025 quarter. Other income was Rs 34.67 lakh, down from Rs 40.14 lakh in June but above Rs 34.34 lakh a year earlier. Total income rose by Rs 129.50 lakh sequentially.

Other expenses fell to Rs 4.3229 crore in September from Rs 4.6698 crore in June, while employee benefits expense declined by Rs 11.32 lakh to Rs 71.56 lakh. Finance cost decreased by Rs 4.65 lakh to Rs 25.15 lakh. These reductions exceeded a Rs 50 lakh increase in broadcasting expenses to Rs 3.50 crore and a Rs 2.18 lakh rise in depreciation and amortisation expense to Rs 92.77 lakh.

The year-on-year cost comparison differed from the sequential movement. Broadcasting expenses were unchanged at Rs 3.50 crore, employee benefits expense declined by Rs 22.15 lakh and finance cost reduced by Rs 5.40 lakh. However, other expenses rose by Rs 148.33 lakh from Rs 2.8396 crore in September 2025, and total standalone expenses increased by Rs 126.83 lakh. The results do not provide a further breakdown of other expenses.

Why did Sambhaav Media's consolidated result remain a loss?

Sambhaav Media's consolidated result remained a loss because a Rs 50.98 lakh share of loss from its associate reduced a Rs 28.13 lakh profit before the associate share to a Rs 22.85 lakh loss before tax. After a Rs 2.36 lakh tax expense, the consolidated loss was Rs 25.21 lakh. The filing identifies Gujarat News Broadcaster Private Limited as Sambhaav Media's associate.

The consolidated loss improved from Rs 211.04 lakh in the June 2026 quarter. Consolidated revenue from operations increased to Rs 10.9803 crore from Rs 9.6172 crore, while total expenses declined to Rs 10.9837 crore from Rs 11.2029 crore. Before the associate share and tax, the consolidated result changed to a Rs 28.13 lakh profit from a Rs 124.64 lakh loss.

Compared with September 2025, consolidated revenue increased from Rs 10.0818 crore to Rs 10.9803 crore and expenses rose from Rs 10.0012 crore to Rs 10.9837 crore. The resulting consolidated loss of Rs 25.21 lakh was lower than the Rs 41.79 lakh loss a year earlier. Rs 24.50 lakh of the September 2026 loss was attributable to owners and Rs 0.71 lakh to non-controlling interests.

What do Sambhaav Media's cash flows and balance sheet show?

Sambhaav Media reported a Rs 359.14 lakh standalone operating cash outflow for the half year ended September 30, 2026, compared with an Rs 88.07 lakh outflow a year earlier. The movement included Rs 395.95 lakh used by increases in loans, advances and other assets, and Rs 239.91 lakh used by higher trade receivables. Cash generated from operations was an outflow of Rs 424.05 lakh before income taxes.

Standalone cash and cash equivalents ended the half year at Rs 3.58 lakh, down from Rs 295.10 lakh at the start of the financial year. Net financing cash inflow was Rs 97.19 lakh, comprising Rs 174.21 lakh of net borrowing proceeds, partly offset by Rs 55.05 lakh of interest and finance charges and Rs 21.97 lakh of lease-liability payments. Net cash used in investing activities was Rs 29.57 lakh.

At September 30, 2026, standalone assets were Rs 96.9587 crore, compared with Rs 95.0685 crore at March 31, 2026. Standalone equity declined to Rs 83.0007 crore from Rs 83.7329 crore, while liabilities increased to Rs 13.958 crore from Rs 11.3356 crore. Current borrowings rose to Rs 2.337 crore from Rs 48.73 lakh over the same period.

Consolidated assets stood at Rs 97.2029 crore at September 30, 2026, compared with Rs 96.5661 crore at March 31, 2026. Consolidated equity was Rs 83.0681 crore, down from Rs 85.4321 crore, while liabilities increased to Rs 14.1348 crore from Rs 11.134 crore. The filing also identifies Ved Techno Serve Private Limited as Sambhaav Media's subsidiary.

Conclusion

Sambhaav Media's September-quarter numbers show a sequential standalone recovery, with revenue from operations reaching Rs 9.8787 crore and profit reaching Rs 27.58 lakh after the June-quarter loss. The consolidated position remained negative because the Rs 50.98 lakh associate loss was larger than the Rs 28.13 lakh profit generated before that associate share.

The filing discloses no target, plan or scheduled event for the next reporting period. The unresolved matters to watch are whether the associate loss changes from Rs 50.98 lakh and whether operating cash flow improves after the Rs 359.14 lakh standalone outflow and the rise in standalone trade receivables to Rs 15.5894 crore at September 30, 2026.