GECs
Discovery boss JB Perrette proud of Jeet bet
BALI: The management at Discovery is pretty sanguine despite the low continued ratings of its new India channel Jeet. Speaking at APOS in Bali, Discovery Networks International president and CEO Jean-Briac Perrette said: “We are very ambitious and big believers in India as a market. We want to figure out ways to scale up there. We believe in the opportunities in that market and Jeet in the space of real-life entertainment seemed like a really interesting concept and a swing for us. We are very proud of that swing, “
He added, “We will continue too see what makes sense to do there. The more important thing is that not everything that we do is going to work, but we are not afraid of that because experimentation and the trials and swings are needed to succeed in the world that is changing as fast as it is.”
He was very optimistic of the fact that Discovery would continue to invest in India and in innovation. Perrette revealed: “Discovery as a company is not afraid of swings. We spent half a billion dollars investing in the Oprah Winfrey Network. For the first three years, it went nowhere. Now, it is a leading Afro-American Network for women in the US and hugely profitable. We knew nothing about sports and now we are a leader in sports across Europe. We knew nothing about doing a massive big event and we had the biggest and most successful winter Olympic games ever. We are not a company that’s about shying away. With this disruption, one thing we know for sure is that we need to keep moving and keep investing, and probably taking bigger bets and more risks. Because the world is changing so fast.”
He, however, revealed that the shape and morph of the routes that Discovery would take to attain the size and scale in India could change. “The ways we do that in India, whether we do it through Jeet or more digital investments or other things we look to do in that space. Those are going to change several times over the next few months and years as we look to grow.”
That sure should give team Karan Bajaj and Discovery India enough to plod on and make a success of what they have set out to do.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
