(Formerly HFCL Infotel Ltd)
Regd. Office : B - 71, Phase - VII, Industrial Focal Point, Mohali, Punjab
| Unudited | Unaudited | Audited | Audited | Audited | Audited | |
| Particulars | Three months ended 31.03.09 | Three months ended 31.03.08 | Year ended 31.03.09 | Year ended 31.03.08 | Consolidated Financial Results Year ended 31.03.09 | Consolidated Financial Results Year ended 31.03.08 |
| Net Income From Operations / Services | 5,191.23 | 6,400.92 | 22,357.07 | 24,888.28 | 22,357.07 | 24,648.14 |
| Other Income | 664.68 | 35.01 | 138.55 | 109.53 | 138.55 | 110.83 |
| Total Income | 4,526.55 | 6,435.93 | 22,495.62 | 24,997.81 | 22,495.62 | 24,758.97 |
| Network Operation Expenditure | 1,704.33 | 1,220.74 | 6,687.14 | 6,037.79 | 6,687.14 | 6,157.76 |
| Interconnect Usage Charges | 1,180.23 | 1,135.25 | 4,649.58 | 5,346.89 | 4,649.58 | 5,346.89 |
| Personnel Cost | 1,236.22 | 1,188.27 | 4,821.62 | 4,795.30 | 4,817.79 | 4,931.78 |
| Sales & Marketing Expenditure | 193.56 | 413.62 | 1,549.97 | 1,951.28 | 1,549.97 | 1,951.28 |
| Administrative & Other Expenses | 308.98 | 1,022.30 | 2,876.11 | 4,253.20 | 2,890.76 | 4,511.22 |
| Total Expenditure | 4,623.32 | 4,980.18 | 20,584.42 | 22,384.46 | 20,595.24 | 22,898.93 |
| Operating Profit before Finance Cost and Depreciation and Loss on sale/discard of Fixed Assets | (96.77) | 1,455.75 | 1,911.20 | 2,613.35 | 1,900.38 | 1,860.04 |
| Diminution in value of Investments | 7,176.71 | - | 7,176.71 | - | 6,996.71 | - |
| (Gain) on sale of Fixed Assets | (3,372.35) | - | (3,372.35) | - | (3,372.35) | - |
| Loss on Impaired Fixed Assets | 3,441.82 | 22.18 | 1,552.97 | 176.89 | 1,552.96 | 249.47 |
| Finance Charges | 1,542.77 | 1,473.85 | 6,782.94 | 6,551.22 | 6,782.95 | 6,551.22 |
| Foreign exchange (Gain) / Loss | 194.15 | 55.03 | 1,067.61 | (506.30) | 1,067.61 | (506.30) |
| Depreciation / Amortization | 2,448.53 | 2,669.36 | 9,917.36 | 10,388.04 | 9,917.36 | 10,394.60 |
| Profit/(Loss) before Prior Period Expenditure and Tax from ordinary activities | (11,528.40) | (2,764.67) | (21,214.04) | (13,996.50) | (21,044.86) | (14,828.95) |
| Prior Period Expenditure (Net)Â | 32.54 | 1.16 | 206.62 | 186.93 | 134.50 | 186.93 |
| Profit / (Loss) before Tax from ordinary | (11,560.94) | (2,765.83) | (21,420.66) | (14,183.43) | (21,179.36) | (15,015.88) |
| Provision for Taxation | ||||||
| Taxation pertaining to earlier year | - | - | - | - | - | - |
| Deferred Tax Liability / (Assets) | - | - | - | - | (3.54) | - |
| Fringe Benefit Tax | 12.56 | 28.66 | 52.29 | 70.16 | 52.44 | 71.41 |
| Net Profit / (Loss) from ordinary activities | (11,573.50) | (2,794.49) | (21,472.95) | (14,253.59) | (21,228.26) | (15,087.29) |
| Extraordinary items | - | - | - | - | - | - |
| Net Profit / (Loss) for the period | (11,573.50) | (2,794.49) | (21,472.95) | (14,253.59) | (21,228.26) | (15,087.29) |
| Share of Profit/(Loss) of Associate company | - | - | - | - | - | - |
| Profit on Disposal of Investment in Subsidiary Company | - | - | - | - | 1,650.84 | - |
| Net Profit / (Loss) Including share of Profit / (Loss) of Associate company | (11,573.50) | (2,794.49) | (21,472.95) | (14,253.59) | (19,577.42) | (15,087.29) |
| Paid up Equity Share Capital | 52,551.72 | 52,551.72 | 52,551.72 | 52,551.72 | 52,551.72 | 52,551.72 |
| (Face Value-Rs. 10 each) | ||||||
| Advance against Share Application Money | 8,674.31 | 8,674.31 | 8,674.31 | 8,674.31 | 8,674.31 | 8,674.31 |
| Reserves excluding Revaluation Reserve | 685.67 | 1,730.05 | 685.67 | 1,730.05 | 685.67 | 1,730.05 |
| Profit & Loss Account (Including accumulated losses) | (111,938.80) | (91,510.23) | (111,938.80) | (91,510.23) | (111,946.24) | (93,413.19) |
| Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) | (2.20) | (0.53) | (4.09) | (2.71) | (4.04) | (2.87) |
| Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) | (2.20) | (0.53) | (4.09) | (2.71) | (4.04) | (2.87) |
| Public Shareholding | ||||||
| - No. of Shares | 199,812,152 | 199,812,152 | 199,812,152 | 199,812,152 | 199,812,152 | 199,812,152 |
| - % of Shareholding | 38.02% | 38.02% | 38.02% | 38.02% | 38.02% | 38.02% |
| Promoters and Promoter Group Shareholding | ||||||
| a) Pledged/Encumbered | ||||||
| Number of Shares | - | - | 209,500,000 | 209,500,000 | - | - |
| Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) | - | - | 64.32% | 64.32% | - | - |
| Percentage of shares (as a % of the total share capital of the Company) | - | - | 39.87% | 39.87% | - | - |
| b) Non encumbered | - | - | ||||
| Number of Shares | - | - | 116,205,000 | 116,205,000 | - | - |
| Percentage of Shares(as % of the total Shareholding of Promoter and Promoter group) | - | - | 35.68% | 35.68% | - | - |
| Percentage of shares (as a % of the total share capital of the Company) | - | - | 22.11% | 22.11% | - | - |
| Notes: | |||||||
| 1. The auditors have qualified their report dated June 30, 2009 | |||||||
| (a) With respect to the terms and conditions which are yet to be finalized in respect of an advance of Rs 1,62,85.00 lacs taken by the Company to fund the entry fee of Rs 1,51,75.00 lacs for using GSM Technology under the existing Unified Access Services License (UASL) for Punjab Service Area. | |||||||
| (b) Wherein they have relied upon the CDR letter for restructuring of term loan, conformation for which is awaited from lenders. | |||||||
| 2. Out of the total paid up equity share capital comprising of 525,517,152 equity shares of Rs 10 each, 515,070,338 of unlisted equity shares have been listed at Bombay Stock Exchange ('BSE') vide it's letter number 20090514-12 dated May 14, 2009 and letter number DCS/PREF/DMN/FIP/239/09-10 dated May 25, 2009 | |||||||
| 3. The Company has obtained approval from Corporate Debt Restructuring Cell ('CDR') vide their letter no CDR (JCP) No 138 / 2009-10 dated May 20, 2009 for a revised restructuring package. The revised restructuring package interalia includes funding of interest from July 1, 2008 to October 31, 2009 on simple interest basis. Funded Interest on Term Loan ('FITL') would not carry any interest and the FITL shall be repaid in 16 equal monthly installments commencing from December 1, 2009, and reschedulement of principle installments from August 1, 2008 to November 1, 2009 so as to be repayable from December 1, 2009 to March 1, 2011. In accordance with the aforesaid revision in the restructuring scheme, the Company has disclosed the Interest accrued but not due to the lenders amounting to Rs 37,30.97 lacs from July 1, 2008 to March 31, 2009 as 0% FITL which shall be repaid from December 1, 2009 in 16 monthly installments. Further, in line with the aforesaid scheme, no installment of principle repayment is becoming due till November 1, 2009 and as such there is Nil amount due as on March 31, 2009. | |||||||
| 4. During the year ended March 31, 2009, the Company has written off the investment of Rs 71,76.70 lacs (Rs 1,80.00 lacs in Equity Share Capital and Rs 69,96.70 lacs in OFCD's in ITI as ITI has negative networth and the Company believes that ITI would not be able to arrange funds as per their business plans and the recovery of their investments. | |||||||
| 5. Information on investors' complaints for the year is as following: Opening balance: Nil, Received during the year : six, Disposal: six, Closing Balance :Nil. | |||||||
| 6. The company is operating in a single segment viz. providing unified telephony services. | |||||||
| 7. Previous period/years' figures have been reclassified, wherever necessary, to make them comparable with those of the current period. | |||||||
| 8. During the year Company created a subsidiary in the name and style of 'Infotel Tower Infrastructure Private Limited to carry on the business of manpower outsourcing and trading and distribution of mobile handsets. | |||||||
| 9. Shareholders has by way of postal ballot consented to shifting of registered Office of the Company from Mohali in the State of Punjab to Mumbai in the State of Maharashtra. The result of postal ballot was declared on June 16, 2009 at 4.00 p.m. at the registered office of the Company. | |||||||
| 10. Above results have been reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on June 30, 2009 | |||||||
| Place : New Delhi | By Order of the Board | ||||||
| Dated: June 30, 2009 | Quadrant Televentures Limited (Formerly Known as HFCL Infotel Limited) |
||||||
| Mahehdra Nahata | |||||||
| Chairman | |||||||