Next Mediaworks Limited — Others, 17-01-2025: Cessation

Next Mediaworks Limited has announced a board meeting outcome where the un-audited financial results for the quarter and nine months ended December 31, 2024, were approved. The company reported a consolidated loss after tax of ₹2,143 crore, primarily driven by challenges in operational expenses despite an income of ₹3,090 crore.

Additionally, the resignation of Non-Executive Director Mr. Praveen Someshwar has been accepted, effective February 28, 2025, while Mr. Sameer Singh has been re-designated as Non-Executive Non-Independent Director from January 17, 2025, reflecting his new role as Group CEO at HT Media Ltd.

This transition in leadership and ongoing losses might evoke a cautious sentiment among investors, emphasizing the need for strategic recovery efforts.