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 September 30, 2010
(Rs. In Lacs)
  Unaudited Unudited Unaudited Unaudited Audited
Particulars Three months ended 30.09.10 Three months ended 30.09.09 Six months
ended 30.09.10
Six months
ended 30.09.09
Year ended
31.03.10
           
Net Income From Operations / Services 5,629.31 5,096.04 10,611.20 10,283.84 19,620.89
Other Operating Income - - - - -
           
Total Income 5,629.31 5,096.04 10,611.20 10,283.84 19,620.89
           
Network Operation Expenditure 4,094.05 1,592.88 7,426.05 3,108.51 7,882.88
Interconnect Usage Charges 1,048.48 880.93 1,796.68 1,797.80 3,139.90
Personnel Cost 1,176.17 1,351.25 2,228.98 2,392.63 4,587.10
Sales & Marketing Expenditure 862.02 194.88 2,028.92 359.95 913.15
Administrative & Other Expenses 759.82 769.20 1,498.57 1,446.99 3,117.11
Depreciation and Amortisation 3,133.17 2,382.33 6,173.08 4,773.95 9,501.65
           
Total Expenditure 11,073.71 7,171.47 21,152.28 13,879.83 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 (5,444.40) (2,075.43) (10,541.08) (3,595.99) (9,520.90)
           
Other Income 47.09 67.61 99.49 92.39 160.71
Profit /(Loss) before Finance Cost, Gain/(Loss) on sale/discard of Fixed Assets, Foreign exchange Gain /( Loss), Prior Period Expenditure, Exceptional items. (5,397.31) (2,007.82) (10,441.59) (3,503.60) (9,360.19)
           
Gain/(Loss) on sale of Fixed Assets 10.76 114.25 21.63 126.17 143.05
Gain/(Loss) on Discarded Fixed Assets (71.32) (46.22) (75.94) (66.95) (190.04)
Interest & Finance Cost 702.84 1,703.40 1,399.52 3,482.60 (7,042.36)
Foreign exchange (Gain) / Loss 20.84 0.84 (22.40) 210.43 346.14
           
Profit /(Loss) before Prior Period Expenditure, Exceptional items (6,139.87) (3,642.35) (11,917.82) (6,716.55) (2,018.68)
           
Prior Period Expenditure (Net) 7.57 40.67 27.92 48.87 45.81
Exceptional Items - - - - -
           
Net Profit / (Loss) from ordinary activities before Tax (6,147.44) (3,683.02) (11,945.74) (6,765.42) (2,064.49)
           
Fringe Benefit Tax - (4.45) - - -
Net Profit / (Loss) from ordinary activities after Tax (6,147.44) (3,678.57) (11,945.74) (6,765.42) (2,064.49)
           
Extraordinary items - - - - -
           
Net Profit / (Loss) for the period (6,147.44) (3,678.57) (11,945.74) (6,765.42) (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) (125,949.03) (118,704.22) (125,949.03) (118,704.22) (114,003.29)
Basic and Diluted Earning Per Share before Extraordinary items of Rs 10/- Each (not annualized) (1.00) (0.61) (1.95) (1.20) (0.35)
Basic and Diluted Earning Per Share after Extraordinary items of Rs 10/- Each (not annualized) (1.00) (0.61) (1.95) (1.20) (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%
           
           
 
Statement of Assets and Liabilities
(Rs. In Lacs)
  Unaudited Unaudited
Particulars Six months
ended 30.09.10
Corresponding Six months
ended 30.09.09
(Refer Note 8 below)
Shareholder's Funds:    
(a) Capital 67,726.03 67,726.03
(b) Reserves and Surplus 685.67 685.67
Loan Funds 76,446.08 81,120.19
Total 144,857.78 149,531.89
     
Fixed Assets 74,997.01 65,569.65
Investments 1.00 1.00
Current Assets, Loans and Advances    
(a) Inventories 184.92 134.35
(b) Sundry Debtors 3,394.16 3,137.44
(c) Cash and Bank Balances 1,203.82 1,257.72
(d) Other Current Assets 199.07 161.30
(e) Loans and Advances 2,310.33 1,638.90
Net Current Liabilities 56,089.25 34,742.98
Miscellaneous Expenditure (Not written off or adjusted)    
Profit and Loss Account 125,949.02 118,704.22
Total 144,857.78 149,531.89
 
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. Foreign exchange loss includes Rs 33.77 lacs for the six months ended September 30, 2010 representing the exchange differences arising in the six months period on the amount due and paid under the Buyers Credit Facility (Loan in foreign currency from foreign bank).
3. The Company on July 06, 2010 and July 07, 2010, has repaid 25% of the Term loan outstanding amounting to Rs. 15984.55 lacs.
4. Information on investors' complaints for the quarter; Opening Balance: Nil, New: Two, Disposal: Two, Closing Balance: Nil.
5. Persumat to the approval of the share holders on September 3, 2010 the name of the Company was changed from HFCL Infotel Limited to Quadrant Televentures Limited with effectfrom September 24, 2010.
6. 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.
7. Previous period/years figures have been reclassified, wherever necessary, to make them comparable with those of the current period.
8. The Comparative amounts in the attached statement of assets and liabilities as on September 30,2009 have not been audited or reviewed by the Statutory Auditors.
9. Above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their meeting held on November 15, 2010. The same have been reviewed by the Statutory Auditor of the Company.
 
   
Place : Mohali By Order of the Board
Dated: November 15, 2010 Quadrant Televentures Limited
(Formerly Known as HFCL Infotel Limited)
 
  (Mr. Babu Mohanlal Panchal)
  Director