(Formerly HFCL Infotel Ltd)
Regd. Office : Autocars Compound, Adalat Road, Aurangabad (Maharashtra) – 431 005.
| Standalone Financial results | Standalone Financial results | Consolidated Financial Results | ||||
| Unaudited | Audited | Audited | ||||
| Particulars | Three months ended 31.03.11 | Three months ended 31.03.10 | Year ended 31.03.11 | Year ended 31.03.10 | Year ended 31.03.11 | Year ended 31.03.10 |
| Net Income From Operations / Services | 6,696.98 | 4,517.17 | 23,605.12 | 19,620.89 | 23,611.51 | 19,739.16 |
| Other Operating Income | - | - | - | - | - | - |
| Total Income | 6,696.98 | 4,517.17 | 23,605.12 | 19,620.89 | 23,611.51 | 19,739.16 |
| Network Operation Expenditure | 3,664.96 | 3,012.56 | 14,400.80 | 7,882.88 | 14,400.80 | 7,882.88 |
| Interconnect Usage Charges | 1,915.33 | 606.52 | 5,384.84 | 3,139.90 | 5,384.84 | 3,139.90 |
| Cost of Goods Sold | - | - | - | - | 44.67 | 146.99 |
| Personnel Cost | 1,154.08 | 1,070.68 | 4,537.84 | 4,587.10 | 4,494.06 | 4,549.16 |
| Sales & Marketing Expenditure | 708.37 | 344.27 | 4,023.11 | 913.15 | 4,023.11 | 913.15 |
| Administrative & Other Expenses | 689.36 | 884.97 | 2,958.15 | 3,117.11 | 2,968.44 | 3,125.61 |
| Depreciation and Amortisation | 2,995.20 | 2,330.94 | 12,302.40 | 9,501.65 | 12,337.31 | 9,564.50 |
| Total Expenditure | 11,127.30 | 8,249.94 | 43,607.14 | 29,141.79 | 43,653.23 | 29,322.19 |
| Operating Profit before Finance Cost, Loss/ (Gain) on sale/discard of Fixed Assets, Diminution in value of Investments, Foreign exchange (Gain) / Loss, Exceptional items and Other Income | (4,430.32) | (3,732.77) | (20,002.02) | (9,520.90) | (20,041.72) | (9,583.03) |
| Other Income | 101.69 | 14.84 | 228.69 | 160.71 | 229.43 | 160.88 |
| Operating Profit before Finance Cost, Loss/ (Gain) on sale/discard of Fixed Assets, Diminution in value of Investments, Foreign exchange (Gain) / Loss and Exceptional items | (4,328.63) | (3,717.93) | (19,773.33) | (9,360.19) | (19,812.29) | (9,422.15) |
| Diminution in value of Investments | - | - | - | - | - | - |
| Gain/(Loss) on sale and discarded of Fixed Assets | 319.85 | (44.48) | 247.52 | (46.99) | 247.52 | (46.99) |
| Interest & Finance Cost | 691.57 | (9,745.40) | 2,786.71 | (7,042.36) | 2,786.78 | (7,041.36) |
| Foreign Exchange Gain /(Loss) | 7.29 | 80.46 | 4.58 | 346.14 | 4.58 | 346.14 |
| Profit/(Loss) before Prior Period Expenditure and Tax from ordinary activities | (4,693.06) | 6,063.45 | (22,307.94) | (2,018.68) | (22,346.97) | (2,081.64) |
| Prior Period Expenditure (Net) | 29.57 | 9.26 | 58.74 | 45.81 | 58.74 | 45.81 |
| Profit / (Loss) from ordinary activities before Tax | (4,722.63) | 6,054.19 | (22,366.68) | (2,064.49) | (22,405.71) | (2,127.45) |
| Deferred Tax Liability / (Assets) | - | - | - | - | 7.12 | (6.22) |
| Fringe Benefit Tax | - | - | - | - | - | - |
| Net Profit / (Loss) from ordinary activities after tax | (4,722.63) | 6,054.19 | (22,366.68) | (2,064.49) | (22,412.83) | (2,121.23) |
| Extraordinary items | - | - | - | - | - | - |
| Net Profit / (Loss) for the period | (4,722.63) | 6,054.19 | (22,366.68) | (2,064.49) | (22,412.83) | (2,121.23) |
| Profit on Disposal of Investment in Subsidiary Company | - | - | - | - | - | - |
| Net Profit / (Loss) Including share of Profit / (Loss) of Associate company and Profit on Disposal of Investment in Subsidiary Company | (4,722.63) | 6,054.19 | (22,366.68) | (2,064.49) | (22,412.83) | (2,121.23) |
| Paid up Equity Share Capital (Face Value - Rs. 10 each) | 61,226.03 | 61,226.03 | 61,226.03 | 61,226.03 | 61,226.03 | 61,226.03 |
| Advance against Share Application Money | - | - | - | - | - | - |
| Reserves excluding Revaluation Reserve | 685.67 | 685.67 | 685.67 | 685.67 | 685.67 | 685.67 |
| Profit & Loss Account (Including accumulated losses) | 136,369.95 | 114,003.28 | 136,369.95 | 114,003.28 | 136,480.30 | 114,067.48 |
| Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) | (1.70) | (0.22) | (3.65) | (0.35) | 3.66 | 0.36 |
| Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) | (1.70) | (0.22) | (3.65) | (0.35) | 3.66 | 0.36 |
| Public Shareholding | ||||||
| - No. of Shares | 285,555,268 | 285,555,268 | 285,555,268 | 285,555,268 | 285,555,268 | 285,555,268 |
| - % of Shareholding | 46.64% | 46.64% | 46.64% | 46.64% | 46.64% | 46.64% |
| Promoters and Promoter Group Shareholding | ||||||
| a) Pledged/Encumbered | ||||||
| Number of Shares | 218,704,937 | 326,705,000 | 218,704,937 | 326,705,000 | 218,704,937 | 326,705,000 |
| Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) | 66.94% | 100.00% | 66.94% | 100.00% | 66.94% | 100.00% |
| Percentage of shares (as a % of the total share capital of the Company) | 35.72% | 53.36% | 35.72% | 53.36% | 35.72% | 53.36% |
| b) Non encumbered | ||||||
| Number of Shares | 108,000,063 | - | 108,000,063 | - | 108,000,063 | - |
| Percentage of Shares(as % of the total Shareholding of Promoter and Promoter group) | 33.06% | 0.00% | 33.06% | 0.00% | 33.06% | 0.00% |
| Percentage of shares (as a % of the total share capital of the Company) | 17.64% | 0.00% | 17.64% | 0.00% | 17.64% | 0.00% |
| STATEMENT OF ASSETS AND LIABILITIES | ||||||
| Shareholders' Funds | ||||||
| (a) Capital | 83,710.57 | 67,726.03 | 83,710.57 | 67,726.03 | ||
| (b) Reserves and Surplus | 685.67 | 685.67 | 685.67 | 685.67 | ||
| Loan Funds | 60,443.68 | 77,220.22 | 60,443.68 | 77,220.22 | ||
| Total | 144,839.92 | 145,631.92 | 144,839.92 | 145,631.92 | ||
| Fixed Assets | 52,207.68 | 45,792.60 | 52,211.80 | 45,795.71 | ||
| Intangible Assets | 22,146.73 | 25,565.05 | 22,334.11 | 25,814.88 | ||
| Investments | 1.00 | 1.00 | - | - | ||
| Deferred Tax Assets | - | - | 2.64 | 9.76 | ||
| Current Assets, Loans and Advances | ||||||
| (a) Inventory | 230.88 | 240.65 | 250.01 | 304.45 | ||
| (b) Sundry Debtors | 4,961.82 | 2,781.60 | 4,961.82 | 2,782.02 | ||
| (c) Cash and Bank Balances | 858.43 | 1,239.14 | 863.21 | 1,296.34 | ||
| (d) Other Current Assets | 54.32 | 184.04 | 54.62 | 184.18 | ||
| (e) Loans and Advances | 3,609.88 | 2,105.84 | 3,398.99 | 1,808.45 | ||
| Less: Current Liabilities and Provisions | ||||||
| (a) Liabilities | 75,182.62 | 45,972.61 | 75,278.98 | 46,107.14 | ||
| (b) Provisions | 418.15 | 308.67 | 438.60 | 324.21 | ||
| Miscellaneous Expenditure (Not written off or adjusted) | - | - | - | - | ||
| Profit and Loss Account | 136,369.95 | 114,003.28 | 136,480.30 | 114,067.48 | ||
| Total | 144,839.92 | 145,631.92 | 144,839.92 | 145,631.92 | ||
| Notes: | |||||||
| 1. Comment on the auditors qualification. | |||||||
| (a) The Company has given effect to the term of the Revised Corporate Debt Restructuring ('CDR') Scheme dated August 13, 2009. Though the compliance of some of the terms and conditions are yet to be implemented.The Company is confident of fulfilling the remaining conditions. | |||||||
| 2. The Company has repaid 25% of the Term loan outstanding amounting to Rs. 1,59,84.55 lacs on July 06, 2010 and July 07, 2010 . | |||||||
| 3. The Company has allotted 1,59,84,543 2% Cumulative Redeemable Preference Shares of Rs.100/- each amounting to Rs.1,598,454,300/- on November 09, 2010 in pursuant to Corporate Debt Restructuring Scheme dated August 13,2009 where in the 25 % of outstanding amount as on April 1,2009 towards principal amount of term loan was to be converted in Cumulative Redeemable Preference Share. | |||||||
| 4. Pursuant to the application of the Company for Volunatary Delisting from the Madras Stock Exchange (MSE), formal approval for Voluntary Delisting has been conveyed by MSE on March 15, 2011. | |||||||
| 5. The primary reporting of the Company has been performed on the basis of business segments. The Company has only one business segment, which is provision of unified telephony services. Accordingly, the amounts appearing in these financial results relate to this primary business segment. Further, the Company provides services only in the State of Punjab (including Chandigarh and Panchkula) and, accordingly, no disclosures are required under secondary segment reporting. | |||||||
| 6. Information on investors' complaints for the quarter; Opening Balance: Nil, New: Zero, Disposal: Zero, Closing Balance: Nil. | |||||||
| 7. Previous period/years figures have been reclassified, wherever necessary, to make them comparable with those of the current period. | |||||||
| 8. Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on May 30, 2011. The same have been reviewed by the Statutory Auditor of the Company. | |||||||
| Place : Mohali | By Order of the Board | ||||||
| Dated: May 30, 2011 | For Quadrant Televentures Limited (Formerly Known as HFCL Infotel Limited) |
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| (Mr. Babu Mohanlal Panchal) | |||||||
| Director | |||||||