Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office : Autocars Compound, Adalat Road, Aurangabad (Maharashtra) – 431 005.
Unaudited Stand Alone Financial Results for the quarter ended December 31, 2010
(Rs. In Lacs)
  Unaudited Unudited Unaudited Unaudited Audited
Particulars Three months
ended 31.12.10
Three months
ended 31.12.09
Nine months
ended 31.12.10
Nine months
ended 31.12.09
Year ended
31.03.10
           
Net Income From Operations / Services 6,296.93 4,819.88 16,908.14 15,103.72 19,620.89
Other Operating Income - - - - -
           
Total Income 6,296.93 4,819.88 16,908.14 15,103.72 19,620.89
           
Network Operation Expenditure 3,309.79 1,761.81 10,735.84 4,870.33 7,882.88
Interconnect Usage Charges 1,672.82 735.56 3,469.51 2,533.37 3,139.90
Personnel Cost 1,154.78 1,123.79 3,383.76 3,516.42 4,587.10
Sales & Marketing Expenditure 1,285.82 208.94 3,314.74 568.89 913.15
Administrative & Other Expenses 770.22 785.15 2,268.79 2,232.13 3,117.11
Depreciation and Amortisation 3,134.13 2,396.77 9,307.20 7,170.72 9,501.65
           
Total Expenditure 11,327.56 7,012.02 32,479.84 20,891.86 29,141.79
           
Operating Profit /(Loss) before Finance Cost, Gain/(Loss) on sale/discard of Fixed Assets, Foreign exchange Gain /( Loss), Prior Period Expenditure, Exceptional items and Other Income (5,030.63) (2,192.14) (15,571.70) (5,788.14) (9,520.90)
           
Other Income 27.53 53.46 127.01 145.86 160.71
Profit /(Loss) before Finance Cost, Gain/(Loss) on sale/discard of Fixed Assets, Foreign exchange Gain /( Loss), Prior Period Expenditure, Exceptional items. (5,003.10) (2,138.68) (15,444.69) (5,642.28) (9,360.19)
           
Gain/(Loss) on sale of Fixed Assets 10.91 12.20 32.54 138.37 143.05
Gain/(Loss) on Discarded Fixed Assets (28.93) (73.94) (104.87) (140.89) (190.04)
Interest & Finance Cost 695.62 (779.55) 2,095.14 2,703.04 (7,042.36)
Foreign exchange (Gain) / Loss 19.69 55.25 (2.71) 265.68 346.14
           
Profit /(Loss) before Prior Period Expenditure, Exceptional items (5,697.05) (1,365.62) (17,614.87) (8,082.16) (2,018.68)
           
Prior Period Expenditure (Net) 1.23 12.32 29.16 36.55 45.81
Exceptional Items - - - - -
           
Net Profit / (Loss) from ordinary activities before Tax (5,698.28) (1,353.30) (17,644.03) (8,118.71) (2,064.49)
           
Fringe Benefit Tax - - - - -
Net Profit / (Loss) from ordinary activities after Tax (5,698.28) (1,353.30) (17,644.03) (8,118.71) (2,064.49)
           
Extraordinary items - - - - -
           
Net Profit / (Loss) for the period (5,698.28) (1,353.30) (17,644.03) (8,118.71) (2,064.49)
           
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
Advance against Share Application Money - - - - -
Reserves excluding Revaluation Reserve 685.67 685.67 685.67 685.67 685.67
Profit & Loss Account (Including accumulated losses) (131,647.31) (120,057.51) (131,647.31) (120,057.51) (114,003.29)
Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) (0.93) (0.22) (2.88) (1.40) (0.35)
Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) (0.93) (0.22) (2.88) (1.40) (0.35)
Public Shareholding          
- No of Shares 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%
           
Promoters and Promoter Group Shareholding          
a) Pledged/Encumbered          
Number of Shares 218,704,937 326,705,000 218,704,937 326,705,000 326,705,000
Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) 66.94% 100.00% 66.94% 100.00% 100.00%
Percentage of shares (as a % of the total share capital of the Company) 35.72% 53.36% 35.72% 53.36% 53.36%
b) Non encumbered          
Number of Shares 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% 0.00%
Percentage of shares (as a % of the total share capital of the Company) 17.64% 0.00% 17.64% 0.00% 0.00%
           
           
Notes:
1. Comment on the auditors qualification.
(a) With respect to the terms and conditions which are yet to be finalized in respect of an advance of Rs. 1,51,75.00 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.The amount of aforsaid advance is adjustable or refundable on such terms and conditions as may mutualy agreed.
(b)The Company has given effect to the term of the Revised Corporate Debt Restructuring ('CDR') Scheme. Though the compliance of some of the terms and conditions are yet to be implemented.The Company is confident of fulfilling the remaining conditions precedent for the implemention of the Revised CDR Scheme and would fully implement the terms of the Revised CDR Scheme on the completion of such approvals and conditions precedent.
2. The Company on July 06, 2010 and July 07, 2010, has repaid 25% of the Term loan outstanding amounting to Rs. 15984.55 lacs.
3. The Company has allotted 1,59,84,543 2% Cumulative Redeemable Preference Shares of Rs.100/- each amounting to Rs.1,59,84,54,300/- on 09.11.2010 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. 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.
5. Information on investors' complaints for the quarter; Opening Balance: Nil, New: Zero, Disposal: Zero, Closing Balance: Nil.
6. Previous period/years figures have been reclassified, wherever necessary, to make them comparable with those of the current period.
7. Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on February 12, 2011. The same have been reviewed by the Statutory Auditor of the Company
 
 
Place : Mohali By Order of the Board
Dated: February. 12, 2011 Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
 
(Mr. Babu Mohanlal Panchal)
Director