Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office : 617, 6th floor, Maker Chamber - V, Nariman Point, Mumbai - 400021
Unaudited Stand Alone Financial Results for the quarter and nine months ended December 31, 2009
(Rs in Lacs)
  Unaudited Unaudited Unaudited Unaudited Audited
Particulars Three months ended 31.12.09 Three months ended 31.12.08 Nine months
ended 31.12.09
Nine months
ended 31.12.08
Year ended
31.03.09
           
Net Income From Operations / Services 4,819.88 5,409.32 15,103.72 17,165.84 22,357.07
Other Operating Income 53.46 17.47 145.86 803.23 138.55
           
Total Income 4,873.34 5,426.79 15,249.58 17,969.07 22,495.62
           
Network Operation Expenditure 1,761.81 1,582.37 4,870.33 4,982.81 6,687.14
Interconnect Usage Charges 735.56 1,086.49 2,533.37 3,469.35 4,649.58
Personnel Cost 1,123.79 1,236.25 3,516.42 3,585.40 4,821.62
Sales & Marketing Expenditure 208.94 533.16 568.89 1,356.41 1,549.97
Administrative & Other Expenses 785.15 778.10 2,232.13 2,567.13 2,876.11
Depreciation and Amortisation 2,396.77 2,362.30 7,170.72 7,468.83 9,917.37
           
Total Expenditure 7,012.02 7,578.67 20,891.86 23,429.93 30,501.79
           
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 (2,138.68) (2,151.88) (5,642.28) (5,460.86) (8,006.17)
           
Other Income - - - - -
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 (2,138.68) (2,151.88) (5,642.28) (5,460.86) (8,006.17)
           
Diminution in value of Investments - - - - 7,176.71
(Gain) on sale of Fixed Assets (12.20) (958.24) (138.37) (1,888.85) (3,372.35)
Loss on Discarded Fixed Assets 73.94 - 140.89 - 1,552.97
Interest & Finance Cost (779.55) 1,768.47 2,703.04 5,240.18 6,782.94
Foreign exchange (Gain) / Loss (55.25) 140.92 (265.68) 873.45 1,067.61
           
Profit/(Loss) before Prior Period Expenditure and Tax from ordinary activities (1,365.62) (3,103.03) (8,082.16) (9,685.64) (21,214.04)
           
Prior Period Expenditure (Net) (12.32) 34.97 36.55 174.08 206.62
           
Profit / (Loss) from ordinary activities before Tax (1,353.30) (3,138.00) (8,118.71) (9,859.72) (21,420.67)
           
Fringe Benefit Tax - 12.57 - 39.73 52.29
           
Net Profit / (Loss) from ordinary activities after Tax (1,353.30) (3,150.57) (8,118.71) (9,899.45) (21,472.96)
           
Paid up Equity Share Capital (Face Value - Rs. 10 each) 61,226.03 52,551.72 61,226.03 52,551.72 52,551.72
Advance against Share Application Money - 8,674.31 - 8,674.31 8,674.31
Reserves excluding Revaluation Reserve 685.67 685.67 685.67 685.67 685.67
Profit & Loss Account (Including accumulated losses) (120,057.51) (100,365.30) (120,057.51) (100,365.30) (111,938.80)
Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) (0.22) (0.60) (1.40) (1.88) (4.09)
Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) (0.22) (0.60) (1.40) (1.88) (4.09)
Public Shareholding          
- No of Shares 285,555,268 199,812,152 285,555,268 199,812,152 199,812,152
- % of Shareholding 46.64% 38.02% 46.64% 38.02% 38.02%
           
Promoters and Promoter Group Shareholding          
a) Pledged/Encumbered          
Number of Shares 326,705,000 209,500,000 326,705,000 209,500,000 209,500,000
Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) 100.00% 64.32% 100.00% 64.32% 64.32%
Percentage of shares (as a % of the total share capital of the Company) 53.36% 39.87% 53.36% 39.87% 39.87%
b) Non encumbered          
Number of Shares - 116,205,000 - 116,205,000 116,205,000
Percentage of Shares(as % of the total Shareholding of Promoter and Promoter group) 0.00% 35.68% 0.00% 35.68% 35.68%
Percentage of shares (as a % of the total share capital of the Company) 0.00% 22.11% 0.00% 22.11% 22.11%
           
           
 
Notes:
1. Foreign exchange gain includes Rs 36.23 lacs representing the exchange differences arising in the three months period on the amount due and paid under theBuyers Credit Facility (Loan in foreign currency from foreign bank).
2. Corporate Debt Restructuring ('CDR') cell vide their letter no CDR (JCP) No 563 / 2009-10 dated August 13, 2009 approved a new restructuring package with effect from April 1, 2009, which includes the restructuring of term debts and the induction of strategic investor / change of management. The Company has adopted the CDR and the effect has been given in the books of accounts of the Company.
3. During the nine months period ended December 31, 2009, the Company issued 86,743,116 equity shares of Rs 10 each (at par) fully paid up, pursuant to conversion of OFCDs and these shares have been listed on Bombay Stock Exchange w.e.f. August 14, 2009 and Madras Stock Exchange w.e.f. September 01, 2009.
4. Information on investors' complaints for the quarter: Opening Balance: Nil, New: Nil, Disposal: Nil, Closing Balance: Nil.
5. The Company Law Board (Northern Bench) had vide its Order dated August 31,2009 accorded its approval for shifting of the registered office from the State of Punjab to State of Maharashtra; consequently Form 21 and Form 18 were duly filed with Registrar of Companies ('RoC'), Mumbai; The Certificate confirming the change of registered office was issued by the RoC, Mumbai on December 01, 2009.
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. Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on January 30, 2010. The same have been reviewed by the Statutory Auditors of the Company
 
   
Place : New Delhi By Order of the Board
Dated: January 30, 2010 Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
 
  M.P.Shukla
  Director