Sea TV Network posts Rs 1.148 crore consolidated half-year loss

Sea TV Network Limited, referred to as Sea TV Network, reported a consolidated loss of Rs 1.148 crore for the half year ended September 30, 2026, against a Rs 63.63 lakh profit a year earlier, as revenue from operations declined to Rs 3.5758 crore and total income fell to Rs 4.2559 crore.

What did Sea TV Network report for the half year ended September 2026?

Sea TV Network recorded a consolidated loss before and after tax of Rs 1.148 crore in the half year ended September 30, 2026, compared with a Rs 63.63 lakh profit after tax in the corresponding half of 2025. Basic and diluted earnings per share were negative Rs 0.96, compared with positive Rs 0.53 in the year-earlier half.

Consolidated revenue from operations declined by Rs 20.11 lakh to Rs 3.5758 crore from Rs 3.7769 crore. Other income fell to Rs 68.01 lakh from Rs 2.4078 crore, reducing total income by Rs 1.9288 crore to Rs 4.2559 crore from Rs 6.1847 crore. Management identified cable operator activities as the group’s sole reportable segment under Indian Accounting Standard 108, or Ind AS 108.

Sea TV Network’s standalone operations also remained loss-making. The standalone loss for the half year was Rs 93.94 lakh, compared with a Rs 40.61 lakh loss in the corresponding 2025 period. Standalone revenue from operations decreased to Rs 2.5956 crore from Rs 3.4765 crore, while total income fell to Rs 3.2392 crore from Rs 3.9500 crore.

Why did Sea TV Network move from profit to loss?

Sea TV Network moved to a consolidated loss because income fell more than costs. Consolidated total income decreased by Rs 1.9288 crore year on year, while total expenses declined by Rs 14.45 lakh to Rs 5.4039 crore. As a result, the group shifted from Rs 63.63 lakh profit before tax in the 2025 half year to a Rs 1.148 crore pre-tax loss in the 2026 half year.

Employee-benefit expense decreased to Rs 3.0961 crore from Rs 3.1498 crore, and other expenses declined to Rs 1.9585 crore from Rs 2.1653 crore. These changes did not offset lower income and higher finance cost, which rose to Rs 13.74 lakh from Rs 4.02 lakh. Depreciation and amortisation also increased to Rs 21.19 lakh from Rs 19.30 lakh.

The quarter ended September 30, 2026 accounted for Rs 70.51 lakh of the first-half consolidated loss, compared with a Rs 44.30 lakh loss in the quarter ended June 30, 2026. Quarterly revenue from operations fell to Rs 1.1696 crore from Rs 2.4062 crore sequentially, while other income rose to Rs 64.36 lakh from Rs 3.65 lakh.

The September-quarter result also reversed from a Rs 41.30 lakh profit in the quarter ended September 30, 2025 to a Rs 70.51 lakh loss. Revenue from operations for that quarter declined to Rs 1.1696 crore from Rs 1.9004 crore a year earlier, while total income was Rs 1.8132 crore compared with Rs 3.1038 crore.

What does Sea TV Network’s September 2026 balance sheet show?

Sea TV Network reported negative consolidated total equity of Rs 41.3845 crore at September 30, 2026, compared with negative Rs 40.2365 crore at March 31, 2026. Paid-up equity share capital was unchanged at Rs 12.0200 crore, while other equity was negative Rs 53.4045 crore, compared with negative Rs 52.2565 crore at the preceding financial year-end.

Consolidated non-current borrowings increased to Rs 34.0673 crore at September 30 from Rs 32.7752 crore at March 31. Current borrowings rose to Rs 1.5907 crore from Rs 91.14 lakh. Combined reported borrowings therefore increased to Rs 35.6580 crore from Rs 33.6866 crore over the six-month period.

Total consolidated assets increased to Rs 17.4886 crore from Rs 16.9867 crore. Cash and cash equivalents rose to Rs 23.80 lakh from Rs 9.60 lakh, trade receivables declined to Rs 3.7313 crore from Rs 3.7837 crore, and other current assets increased to Rs 2.6160 crore from Rs 1.8779 crore.

What did cash flow and the auditor’s review disclose?

Sea TV Network used Rs 1.6739 crore in consolidated operating activities during the half year ended September 30, 2026, compared with Rs 2.2734 crore used a year earlier. Consolidated financing activities generated Rs 1.8341 crore, comprising Rs 1.2921 crore from non-current borrowings and Rs 67.93 lakh from current borrowings.

Consolidated investing cash outflow was Rs 1.82 lakh in the 2026 half year, compared with Rs 97.48 lakh in the prior-year period. Operating, investing and financing cash movements produced a Rs 14.20 lakh increase in cash and cash equivalents, taking the balance to Rs 23.80 lakh at September 30, 2026 from Rs 9.60 lakh at the start of the period.

The independent auditor’s review of the standalone results drew attention to non-provision of interest on unsecured loans. The auditor said the unprovided interest was Rs 68.13 lakh for the September 2026 quarter and Rs 1.3461 crore for the six months ended September 30, 2026. It said recognising the amounts would have increased the respective standalone losses by the same amounts.

The auditor stated that non-recognition of current-quarter interest expense did not comply with Ind AS 109, Financial Instruments, which requires financial liabilities to be measured at amortised cost using the effective-interest method unless contractually waived. Sea TV Network’s board approved the unaudited standalone and consolidated results on November 4, 2026, after Audit Committee review.

Conclusion

Sea TV Network’s half-year result reflects a reversal from Rs 63.63 lakh consolidated profit to a Rs 1.148 crore loss as total income fell to Rs 4.2559 crore, despite total expenses declining to Rs 5.4039 crore. The period also ended with negative consolidated equity of Rs 41.3845 crore and combined reported borrowings of Rs 35.6580 crore.

The next results will show whether quarterly operating revenue improves from Rs 1.1696 crore reported for the quarter ended September 30, 2026 and how financing costs develop after first-half finance cost reached Rs 13.74 lakh. The disclosed standalone treatment of Rs 1.3461 crore of unprovided interest on unsecured loans also remains an unresolved accounting matter for subsequent financial statements.