Sea TV's auditor flags ₹66.49 lakh interest gap as losses widen
Net loss ballooned to ₹50.78 lakh from ₹1.75 lakh a year ago. Revenue slipped 8%. Auditor says ₹66.49 lakh interest on ₹33.83 cr loans not provided.
— 1 earlier story on Sea TV Network Ltd. →What's new
- Standalone net loss jumped to ₹50.78 lakh from ₹1.75 lakh YoY.
- Auditor flagged non-provision of ₹66.49 lakh interest on ₹33.83 cr unsecured loans.
- Company secretary Karishma Jain resigned, accepted by board.
Why this matters
For a ₹4 cr market-cap company, a ₹66.49 lakh auditor-flagged gap is material. It signals persistent accounting non-compliance and financial stress. The resignation of a key managerial personnel compounds the governance risk.
What we're watching
- Whether the company provides for the interest in the next quarters.
- Any further KMP departures or board changes.
- Trend in revenue and loss trajectory given the -20% trailing revenue decline.
The full read
Sea TV Network's June-quarter results are poor: a net loss of ₹50.78 lakh against just ₹1.75 lakh a year ago, revenue down 8% to ₹169.71 lakh. The statutory auditor's comment is the real story. It flagged that the company failed to provide ₹66.49 lakh in interest on unsecured loans totalling ₹33.83 crore, a practice that contradicts Ind AS 109. That sum is 1.7% of the company's ₹4 crore market cap. On a consolidated basis, the company swung from a ₹22.33 lakh profit to a ₹44.30 lakh loss. Separately, company secretary Karishma Jain resigned — an expected move, but one that leaves a governance gap. For a nano-cap already shrinking (trailing revenue down 20%), this filing points to deeper strain.
Questions answered
- How much did Sea TV's net loss change year-on-year?
- The standalone net loss widened from ₹1.75 lakh in Q1 FY26 to ₹50.78 lakh in Q1 FY27, a 28x increase.
- What did the auditor say about interest on unsecured loans?
- The auditor noted that the company did not provide for ₹66.49 lakh in interest on unsecured loans totalling ₹33.83 crore, violating Ind AS 109. Had it been provided, the loss would have been higher.
- Who resigned and why?
- Company secretary and compliance officer Karishma Jain resigned effective 28 July, citing personal reasons. The board accepted the resignation.
- How significant is the ₹66.49 lakh interest gap relative to the company's market cap?
- The gap equals roughly 1.7% of the company's ₹4 crore market cap, making it a material non-compliance for a nano-cap firm.
Sea TV Network Ltd.
Latest quarter · Jun 2026
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All notes on SEATV →- 25 Jul 2026 · 5:32 PM IST Sea TV's auditor flags ₹66.49 lakh interest gap as losses widen
- 3d ago Sea TV Network's loss widens, auditor flags loan interest gap