Diligent Media Corporation Limited has informed the Exchange regarding Board meeting held on July 30, 2025.
DNAMEDIA · price
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Diligent Media Corporation reported weak Q1 FY26 results with revenue from operations plunging to Rs 78.67 lakhs from Rs 296.30 lakhs in the same quarter last year, a drop of about 73%. Total expenses of Rs 270.87 lakhs against total income of just Rs 80.80 lakhs pushed the company into a loss after tax of Rs 188.60 lakhs, compared to a profit of Rs 245.26 lakhs a year ago. Loss per share stood at Rs 0.16. The company's accumulated losses of over Rs 25,553 lakhs have wiped out its paid-up capital and reserves. The statutory auditor issued a qualified conclusion (modified opinion) and flagged a material uncertainty on going concern, mainly due to unrecovered inter-corporate deposits of Rs 17,340.27 lakhs given to Veena Investments Private Limited, currently under arbitration. The board also approved the appointment of Mr. Chitresh Sehgal as CEO from August 1, 2025, re-appointment of a director, and material related party transactions with Indiadotcom Digital Private Limited for shareholder approval.
Shareholders face significant concerns: a sharp revenue decline, a swing into losses, negative reserves, and an auditor's going concern warning. The arbitration outcome over Rs 17,340 lakhs of inter-corporate deposits will be a critical near-term catalyst for the stock.