Financial Result Quarter 1 - FY19-20

INTER GLOBE FINANCE LIMITED
Regd Office: Aloka House, 1st floor, 6B, Bentinck Street, Kolkata-700 001
Website: www.igfl.co.in E-mail: interglobefinance@gmail.com
CIN: - L65999WB1992PLC055265

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019.
 *(in Lakhs) 
Particulars  STANDALONE 
Quarter Ended  Year Ended 
30-Jun-19 31-Mar-19 30-Jun-18 31-Mar-19 31-Mar-18
  (Audited)   (Audited)  (Audited)  (Audited)   (Audited) 
I. Revenue from operations  274.14   200.93   702.69   1,375.86   1,875.72 
II. Other Income  1.01   1.55   4.04   6.81   20.37 
III. Total Revenue (I+II)  275.15   202.48   706.73   1,382.67   1,896.09 
IV. Expenses:
a. Cost of material consumed  -     -     -     -     -   
b. Purchases of Stock-in-trade  48.30   149.79   368.85   602.73   1,753.99 
c. Change in inventories of finished goods, work-in-progress and Stock-in-trade  (56.78)  (119.06)  96.80   106.01   (714.76)
d. Employees benefits expenses  31.88   50.57   28.61   143.30   170.46 
e. Finance Costs  40.72   53.67   41.38   195.20   321.64 
f.  Depreciation and amortisation expenses  6.41   3.96   7.58   24.60   31.53 
g. Other Expenses  4.03   50.59   29.22   127.51   226.26 
Total Expenses  74.56   189.52   572.44   1,199.35   1,789.12 
V. Profit/(Loss) from Operations before exceptional and Tax (III-IV)  200.59   12.96   134.29   183.32   106.97 
VI. Exceptional items-Provision for Doubtful Debts.  -     -     (216.38)  (136.78)  (243.46)
IX. Profit/ Loss before tax (VII-VIII)  200.59   12.96   (82.09)  46.54   (136.49)
X. Tax expense 
(1) Current Tax  46.73   49.50   33.47   49.50   26.68 
(2) Deffered Tax  -     (3.35)  -     (3.35)  (18.99)
XI. Profit/(Loss) for the period from continuing operations (IX-X)  153.86   (33.19)  (115.56)  0.39   (144.18)
XII. Profit/(Loss) for the period from Discontinuing operations   -     -     -     -     -   
XIII. Tax Expense of Discontinuing operations   -     -     -     -     -   
XIV. Profit/ Loss from discontinuing operations (after Tax) (XII-XIII)  -     -     -     -     -   
XV. Profit/(Loss) for the period (XI+XIV)  153.86   (33.19)  (115.56)  0.39   (144.18)
XVI. Other Comprehensive Income  -     -     -     -     -   
XVII. Total Comprehensive Income (XV + XVI)  153.86   (33.19)  (115.56)  0.39   (144.18)
XVIII. Paid-up equity share capital  682.23   682.23   682.23   682.23   682.23 
XIX. Earning per Equity Share(EPS) 
(1) Basic  2.26   (0.49)  (1.69)  0.01   (2.11)
(2) Diluted  2.26   (0.49)  (1.69)  0.01   (2.11)
* Except EPS which is determined in Rs. & Paise

NOTES TO THE FINANCIAL RESULTS
  1. The aforesaid results for the quarter and year ended June 30, 2019 have been reviewed by the Audit Committee and thereafter approved by the board at their respective meeting held on Tuesday, the 13th day of August, 2019.
  2. The business of the Company falls within a single primary segement viz, 'Financial Services' and hence, the disclosure requirement of Accounting Standard-17 'Segment Reporitng' is not applicable.
  3. There being no subsidiary of the Company, the above results are prepared on standalone basis.
  4. Inter Globe Finance Ltd. is a Non-Banking Financial Company (NBFC) as defined under the Companies (Indian Accounting Standard) (Amendment) Rules 2016 issued by the Ministry of Corporate Affairs vide notification dated 30th March, 2016. Effective April 01, 2019 the Company adopted Ind AS hence, the Financial Results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescreibed under Section 133 of The Companies Act, 2013 read with relevant rules issued thereunder and other recognised accounting practices and policies to the extent applicable. There is a possibility that these financial results for the current and previous periods may require adjustments due to changes in the use of one or more optional exemptions from full retrospective application of certain Ind AS 101 which may arise upon finalisation of the financial statements as at and for the year ending 31 March, 2020 prepared under Ind AS.
  5. Reconciliation of Net Profit for the quarter ended 30 June 2019 as reported under erstwhile Indian GAAP and Ind AS is summarized below
    6.
Sl No. Particulars Standalone Quarter ended 30th June, 2019 
1 Net Profit as per Ind GAAP 108.42
2 Ind AS Adjustments to Profit & Loss Account
Effect of the Fair Valuation of instruments 92.17
3 Net Profit as per Ind AS before tax 200.59
4 Ind AS Adjustments to Other Comprehensive Income
Other Comprehensive Income 0
Total Comprehensive Income as per ind AS before tax 200.59
  1. Previous year / periods figures have been regrouped / reclassified, wherever necessary.

For and on behalf of Board of Directors  
For Inter Globe Finance Ltd.

  PLACE: KOLKATA
 Date: 13th August, 2019.

Navin Jain
(Chairman & Managing Director)