Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office: 28, Khan Manzil, Calicut Street, Opposite Fort Market, Opposit Fort Market, Fort, Mumbai - 400001
Unaudited Stand Alone Financial Results for the quarter and year ended March 31, 2010
(Rs in Lacs)
  Unaudited Unaudited Unaudited Audited
Particulars Three months
ended 31.03.10
Three months
ended 31.03.09
Year ended
31.03.10
Year ended
31.03.09
         
Net Income From Operations / Services 4,517.17 5,191.23 19,620.89 22,357.07
Other Operating Income - - - -
         
Total Income 4,517.17 5,191.23 19,620.89 22,357.07
         
Network Operation Expenditure 3,017.25 1,704.33 7,887.58 6,687.14
Interconnect Usage Charges 606.52 1180.23 3,139.90 4,649.58
Personnel Cost 1,070.68 1,236.22 4,587.10 4,821.62
Sales & Marketing Expenditure 344.26 193.56 913.15 1,549.97
Administrative & Other Expenses 880.82 308.98 3,112.95 2,876.11
Depreciation and Amortisation 2,330.94 2,448.53 9,501.65 9,917.36
         
Total Expenditure 8,250.47 7,071.85 29,142.33 30,501.78
         
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 and Other Income (3,733.30) (1,880.62) (9,521.44) (8,144.71)
         
Other Income 14.48 (664.68) 160.35 138.55
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 (3,718.82) (2,545.30) (9,361.09) (8,006.16)
         
Diminution in value of Investments - 7,176.71 - 7,176.71
(Gain) on sale of Fixed Assets (4.67) (3,372.35) (143.05) (3,372.35)
Loss on Discarded Fixed Assets 57.28 3,441.82 198.17 1,552.97
Interest & Finance Cost - Refer to Note no. 2 below (9,739.99) 1,542.77 (7,036.95) 6,782.94
Foreign exchange (Gain) / Loss (80.46) 194.15 (346.14) 1,067.61
         
Profit/(Loss) before Prior Period Expenditure and Tax from ordinary activities 6,049.02 (11,528.40) (2,033.12) (21,214.04)
         
Prior Period Expenditure (Net) 9.20 32.54 45.76 206.62
         
Profit / (Loss) from ordinary activities before Tax 6,039.82 (11,560.94) (2,078.88) (21,420.66)
         
Fringe Benefit Tax - 12.56 - 52.29
         
Net Profit / (Loss) from ordinary activities after Tax 6,039.82 (11,573.50) (2,078.88) (21,472.95)
         
Extraordinary items - - - -
Net Profit / (Loss) for the period 6,039.82 (11,573.50) (2,078.88) (21,472.95)
         
Paid up Equity Share Capital (Face Value - Rs. 10 each) 61,226.03 52,551.72 61,226.03 52,551.72
Advance against Share Application Money - 8,674.31 - 8,674.31
Reserves excluding Revaluation Reserve 685.67 685.67 685.67 685.67
Profit & Loss Account (Including accumulated losses) (114,017.68) (111,938.80) (114,017.68) (111,938.80)
Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) 0.99 (2.20) (0.35) (4.09)
Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) 0.99 (2.20) (0.35) (4.09)
Public Shareholding        
- No of Shares 285,555,268 199,812,152 285,555,268 199,812,152
- % of Shareholding 46.64% 38.02% 46.64% 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
Percentage of Shares (as % of the total Shareholding of Promoter and Promoter group) 100.00% 64.32% 100.00% 64.32%
Percentage of shares (as a % of the total share capital of the Company) 53.36% 39.87% 53.36% 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) 0.00% 35.68% 0.00% 35.68%
Percentage of shares (as a % of the total share capital of the Company) 0.00% 22.11% 0.00% 22.11%
         
         
 
Notes:
1. Foreign exchange gain includes Rs 61.11 lacs for the three months ended March 31, 2010 representing the exchange differences arising in the three months period on the amount due and paid under the Buyers 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. An amount of Rs. 2,568.29 lacs has been considered as interest for the year ended March 31, 2010, and accordingly reversed the provision for interest of Rs 10,258.46 Lacs, the other parameters of the CDR are yet to be adopted..
3.During the year ended March 31, 2010, 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: One, Disposal: One, Closing Balance: Nil.
5. The Company Law Board 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.In pursuance to the order passed by SEBI dated March 3, 2010 relating to change of management , M/s Quadrant Enterprises Private Limited on April 3, 2010 has acquired 32,67,05,000 shares amounting to 53.3605% of the issued, subscribed and paid up share capital of the Company from the promoters of the Company Himachal Futuristic Communications Limited in pursuance to the proposal for change of management.
7. The company is operating in a single segment viz.providing Unified Telephony Services.
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 May 14, 2010. The same have been reviewed by the Statutory Auditors of the Company.
 
   
Place : Mumbai By Order of the Board
Dated: May 14, 2010 Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
 
  (Mr. Babu Mohanlal Panchal)
  Director