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 September 2004 (Fig in Lacs)
Unaudited Unaudited Unaudited Unaudited Audited
Notes :

Company has obtained necessary approvals, from its shareholders at the annual General Meeting for the Debt Restructuring (CDR) package, approved by the Corporate, Debt Restructuring Cell. During the quarter company has computed, interest based on CDR package and transferred it to Advance. Against Application Money for Optionally Fully Convertible Debentures, The implementation of the CDR package is in progress


Upon migration to Variable License Fee Regime, the Company has paid certain amount of interest demand by Dot after disputing the method of computation, Following the TDSAT and Supreme Court Judgment. Dot refunded interest amounting to Rs. 18.73 Crores in the earlier year, further vide letter number 17.5/2002.Lf (Pt) dated October 5, 2004 DoT has confirmed an additional refund of Rs 7.77 crores, this has been Adjusted in the carrying value of License Entry Fees during the quarter ended September 30, 2004.


Information on Investors Complaints for the quarter is as under Opening Balance: Nil. New: Nil. Disposals: Nil. Closing Balance: nil.


The results for the quarter ended September 30, 2004 are subject to Limited Review by the Statutory Auditors.


The Company operates each in one segment of, telecom services in the Punjab circle. Therefore segment information reporting as per AS 17 is not applicable.


The management has not recognized Deferred tax Assets/Liabilities on account of timing differences keeping in view the unabsorbed deprecation and carry forward losses and that the deferred tax Assets/liabilities on account of timing differences organizing during the period are expected to be reversed during the tax holiday period by the management


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


The above results have been considered and reviewed by the Audit Committee and taken on record by the Boards at its meeting held on October 16, 2004.

Place :   Mohali
Dated :   October 16th. 2004
By Order of the Board
Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
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