Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office : B - 71, Phase - VII, Industrial Focal Point, Mohali, Punjab
Unaudited Financial Results for the Quarter Ended 30th June 05 (Fig in Lacs)
Unaudited Unaudited Audited
Notes :
1.  

The CDR Empowered Group has approved the proposal of the Company, for expansion of services, change in the scope of the project, cost of project and means of finance and restructuring of debt vide its letter dated June 24, 2005. However, the impact of the same has not been considered in books of accounts, as the approval letters have not yet been received from the individual Banks/Financial Institutions

2.  

Of the 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 pending approval from Bombay Stock Exchange. 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. Results of the petition are awaited.

3.  

As at June 30, 2005, the Company has accumulated losses of Rs 56,747.88 lacs. Though the company is confident of generating profits in the future, there is currently no convincing evidence of virtual certainty that the Company would reverse the tax loss carry forwards beyond the tax holiday period. Accordingly, the Company has not recognized any deferred tax assets resulting from the carry forward tax losses. Further, no deferred tax liabilities on account of temporary timing differences have been recognized since they are expected to reverse in the tax holiday period.

4.  

There is no accounting treatment required to be given to Statutory auditors' comments in the report on the accounts for the year ended March 31, 2005.

5.  

The company is operating in a single segment viz. providing unified telephony services.

6.  

Administrative and other expenses for the quarter ended June 30, 2005 include Rs 0.05 Lacs being prior period Income net of prior period expenditure. (Prior period Expenditure net of income in the Previous Year - Rs 80.86 Lacs).

7.  

Information on investors' complaints for the quarter is as following: Opening balance: Nil, New: Nil, Disposal: Nil, Closing Balance: Nil.

8.  

Previous period/years' figures have been reclassified, wherever necessary, to make them comparable with those of the current period.

9.  

Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on July 30, 2005. The same are subject to limited review by the Statutory Auditors of the Company.

  
Place :   New Delhi 
Dated :   July 30, 2005
By Order of the Board
Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
  
Mahendra Nahata
 Chairman
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