Quadrant Televentures Ltd
(Formerly HFCL Infotel Ltd)
Regd. Office : B - 71, Phase - VII, Industrial Focal Point, Mohali, Punjab
Unaudited Financial Results for the Quarter and Half Year Ended 30th September 05 (Fig in Lacs)
Unaudited Unaudited 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. During the quarter the company has received CDR approval from all the term loan lenders. Based on these approvals the company has accounted interest cost as per approved yield payable on existing term loan and working capital.

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. Order of SAT is awaited.

3.  

As there is currently no convincing evidence of virtual certainty that the Company would reverse the tax loss carry forwards beyond the tax holiday period, 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.  

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

5.  

Administrative and other expenses for the quarter ended September 30, 2005 include Rs 2.73 Lacs being prior period expenses net of prior period income. (Prior period Expenditure net of income in the Previous Year - Rs 80.86 Lacs).

6.  

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

7.  

IPrevious 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 October 16, 2005. The same are subject to limited review by the Statutory Auditors of the Company.

  
Place :   Jalandhar
Dated :   October 16th. 2005
By Order of the Board
Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
  
MAHENDRA NAHATA
 Chairman
  Close Window