Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office : B - 71, Phase - VII, Industrial Focal Point, Mohali, Punjab
Unaudited Financial Results for the Quarter and Nine Months Ended 31st December 2004 (Fig in Lacs)
Unaudited Unaudited Unaudited Unaudited Audited
Notes :

In compliance with the CDR package, the company has issued Equity shares of Rs 6,337.31 Lacs at par to IDBI and for Rs 1,969.70 Lacs at a premium of Rs 98.48 Lacs to Banks and unsecured OFCD of Rs 1667.76 Lacs to Banks/Financial Institution. Further the Company has issued secured OFCD of Rs 7551.18 Lacs partly paid-up to the extent of Rs 4537.43 Lacs to Financial Institutions and Banks.


Out of total paid up equity share capital comprising of 525,517,152 equity shares, 515,070,338 equity shares are yet to be listed on the recognized stock exchanges in India. For this purpose the Company has filed a petition before Securities Appellate Tribunal (SAT) to direct BSE to list Company’s shares without any condition of Offer for Sale. Outcome of appeal is still awaited.


As required under the law, company has applied to the Central Government on October 21, 2004 for approval of Managerial Remuneration of the Chief Executive Officer and the same is pending as on date.


Administrative and other expenses for the quarter and nine months period ended on December 31, 2004 include prior period expenditure/(Income) (net) of Rs (1.77) Lacs (Previous period Rs 22.70 Lacs) and Rs 80.89 Lacs (Previous period Rs 260.18 Lacs) respectively.


During the quarter ended December 31, 2004, the Company has incurred losses of Rs 1,850.62 Lacs, with accumulated losses of Rs 50867.21 Lacs as on that date, resulting into a tax loss carry forward situation. The Company has not recognised the net deferred tax asset resulting from the tax loss carry forward as at December 31, 2004 as there is currently no convincing evidence of virtual certainty that the Company would reverse the tax loss carry forwards during the tax holiday period under Section 80IA. Further, no deferred tax liabilities on account of temporary timing differences have been recognized since they are expected to be reversed during the tax holiday period.


Information on Investors Complaints for the quarter are as under: Opening Balance: Nil, New: 3, Disposals: 3, Closing Balance: Nil.


IThe primary reporting of the Company has been performed on the basis of business segments. The Company has only one business segment i.e. the provision of unified telephony services. Accordingly, the amounts appearing in these financial statements relate to this primary business segment. Further, the Company provides services only in the state of Punjab including Union Territory of Chandigarh and, accordingly, no disclosures are required under secondary segment reporting as per AS 17.


Figures of the previous period have been regrouped/rearranged wherever considered necessary


The results for the quarter ended December 31, 2004 are subject to Limited Review by the Statutory Auditors.


The above results have been considered and reviewed by the Audit Committee and taken on record by the Board at its meeting held on January 29, 2005.

Place :   New Delhi 
Dated :   January 29, 2005
By Order of the Board
Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
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