iWorld
JOJO Limited swings to Rs 89.98 lakh Q1 profit after year-ago loss
Consolidated income rises to Rs 452.78 lakh as media and content business expands
MUMBAI: JOJO is clearly changing its tune. Formerly known as Madhuveer Com 18 Network Limited, the company has begun FY27 on a stronger note, swinging into profit in the June quarter while recording a sharp rise in consolidated income.
JOJO Limited reported consolidated total income of Rs 452.78 lakh for the quarter ended 30 June 2026, compared with Rs 184.12 lakh in Q1 FY26. Revenue from operations rose to Rs 451.86 lakh from Rs 178.89 lakh, marking a jump of nearly 153 per cent.
The turnaround was even more visible at the bottom line. Consolidated profit before tax stood at Rs 148.09 lakh, compared with a loss of Rs 44.22 lakh in the year-ago quarter. Profit after tax came in at Rs 89.98 lakh, against a loss of Rs 50.69 lakh in Q1 FY26.
The improvement came despite higher expenses. Total consolidated expenses increased to Rs 304.69 lakh from Rs 228.34 lakh. Employee benefits expense rose to Rs 97.22 lakh from Rs 61.18 lakh, while other expenses increased to Rs 152.13 lakh from Rs 132.31 lakh. Depreciation and amortisation stood at Rs 55.33 lakh, compared with Rs 34.47 lakh a year earlier.
On a standalone basis, JOJO also posted a marked improvement. Total income climbed to Rs 415.67 lakh from Rs 136.28 lakh, while revenue from operations increased to Rs 415.45 lakh from Rs 135.76 lakh. Standalone profit before tax rose to Rs 165.35 lakh from Rs 27.34 lakh, while net profit jumped to Rs 109.26 lakh from Rs 19.58 lakh.
The numbers follow a shift in the company’s business portfolio. JOJO acquired a business vertical from wholly owned subsidiary Navkar Events Private Limited on a going-concern basis during the quarter ended 31 March 2026. The vertical spans online media streaming, film production, post-production, music composition, visual effects, sound design and digital content creation.
The company also changed its name from Madhuveer Com 18 Network Limited to JOJO Limited on 17 March 2026, marking a new identity as it builds out its media and content-related operations.
JOJO’s consolidated results include its holding company along with Sakshi Barter Private Limited, Navkar Events Private Limited, JOJO Studio Private Limited, Premier AdsWorld Private Limited and JOJO Global Inc.
The company received four investor complaints during the quarter, all of which were resolved, leaving no complaints pending as of 30 June 2026. Consolidated basic and diluted earnings per share stood at Rs 0.26, compared with a loss of Rs 0.21 per share in Q1 FY26.
The unaudited results were reviewed by the audit committee and approved by the board on 13 August 2026. The independent auditor’s review found no material misstatement requiring modification of its conclusion.
