Financial Result Quarter 1 - FY21-22
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, 2021 | ||||||
| *(in Lakhs) | ||||||
| Particulars | STANDALONE | |||||
| Quarter Ended | Year Ended | |||||
| 30-Jun-21 | 31-Mar-21 | 30-Jun-20 | 31-Mar-21 | 31-Mar-20 | ||
| (Unaudited) | (Audited) | (Unaudited) | (Audited) | (Audited) | ||
| I. | Income | |||||
| Revenue from operations | ||||||
| (i) | Interest Income | 141.26 | 119.00 | 175.40 | 625.07 | 796.83 |
| (ii) | Dividend Income | 0.57 | 0.78 | 0.46 | 4.00 | 13.00 |
| (iii) | Rental Income | |||||
| (iv) | Fees and Commission Income | |||||
| (v) | Net gain on fair value changes | |||||
| (vi) | Net gain on derognition of financial instruments under amortized cost category | |||||
| (vii) | Sale of products(including Excise Duty) | 570.23 | 951.07 | 2,211.62 | 73.49 | |
| (viii) | Sale of services | |||||
| (ix) | Other revenue from operations | |||||
| Total other revenue from operations | - | - | - | - | ||
| Total Revenue from operations | 712.06 | 1,070.86 | 175.86 | 2,840.70 | 883.32 | |
| Other Income | 1.91 | 1.89 | 7.37 | 5.10 | ||
| Total Income | 713.97 | 1,072.75 | 175.86 | 2,848.07 | 888.42 | |
| 2 | Expenses: | |||||
| Cost of material consumed | - | - | - | - | ||
| Purchases of Stock in trade | 462.89 | 1,069.09 | 2,566.48 | 48.46 | ||
| Changes in inventories of finished goods, stock in trade and work in progress | (256.54) | 217.19 | (100.88) | (344.44) | 302.30 | |
| Employee benefit expenses | 27.52 | 36.44 | 32.56 | 138.70 | 138.08 | |
| Finance Costs | 34.28 | 49.70 | 39.03 | 166.02 | 165.18 | |
| Depreciation, amortization & impairment | 3.45 | 3.70 | 4.80 | 17.08 | 21.13 | |
| Fees and Commission Expense | 4.41 | 0.35 | 4.52 | 6.33 | ||
| Net loss on fair value changes | ||||||
| Net loss on derecognition of financial instruments under amortised cost category | ||||||
| Impairment of financial instruments | ||||||
| Other Expenses | ||||||
| 1 | Other Expenses | 21.29 | 35.60 | 7.77 | 121.94 | 133.56 |
| Total other expenses | 21.29 | 35.60 | 7.77 | 121.94 | 133.56 | |
| Total Expenses | 297.30 | 1,412.08 | (12.20) | 2,665.77 | 815.04 | |
| 3 | Total Profit before exceptional and Tax | 416.68 | (339.33) | 188.06 | 182.29 | 73.38 |
| 4 | Exceptional items-Provision for Doubtful Debts. | (220.06) | - | (93.38) | 193.32 | (380.25) |
| 5 | Total Profit before tax | 196.61 | (339.33) | 94.68 | (11.02) | (306.87) |
| 7 | Tax expense | |||||
| 8 | Current Tax | 104.20 | 47.50 | 48.00 | 47.50 | 19.16 |
| 9 | Deffered Tax | 8.20 | ||||
| 10 | Total Tax expenses | 104.20 | 47.50 | 48.00 | 55.70 | 19.16 |
| 14 | Net Profit/(Loss) for the period from continuing operations | 92.41 | (386.83) | 46.68 | (66.72) | (326.03) |
| 15 | Profit/(Loss) for the period from Discontinued operations before tax | |||||
| 16 | Tax Expense of Discontinued operations | |||||
| 17 | Net Profit/ Loss from discontinued operations after tax | |||||
| 19 | Share of profit (loss) of associates and joint ventures accounted for using equity method | |||||
| 21 | Total profit (loss) for period | 92.41 | (386.83) | 46.68 | (66.72) | (326.03) |
| 22 | Other Comprehensive Income net of taxes | - | ||||
| 23 | Total Comprehensive Income for the period | 92.41 | (386.83) | 46.68 | (66.72) | (326.03) |
| 24 | Total profit or loss, attributable to | |||||
| Comprehensive Income for the period attributable to owners of parent | ||||||
| Total profit or loss, attributable to non-controlling interests | ||||||
| 25 | Total Comprehensive Income for the period attributable to | |||||
| Comprehensive Income for the period attributable to owners of parent | ||||||
| Total comprehensive income for the period attributable to non-controlling interests | ||||||
| 26 | Details of equity share capital | |||||
| Paid-up equity share capital | 682.23 | 682.23 | 682.23 | 682.23 | 682.23 | |
| Face value of equity share capital | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | |
| 28 | Reserves excluding Revaluation Reserve | |||||
| 29 | Earnings per Share | |||||
| I. | Earnings per equity share for continuing operations | |||||
| Basic earnings per share from continuing operations | 1.35 | (5.67) | 0.68 | (0.98) | (4.78) | |
| Diluted earnings per share from continuing operations | 1.35 | (5.67) | 0.68 | (0.98) | (4.78) | |
| ii. | Earnings per Equity Share for discontinued operations | |||||
| Basic earnings per share from continuing operations | - | - | - | - | ||
| Diluted earnings per share from continuing operations | - | - | - | - | ||
| ii. | Earnings per Equity Share | |||||
| Basic earnings per share | 1.35 | (5.67) | 0.68 | (0.98) | (4.78) | |
| Diluted earnings per share | - | - | - | - | ||
| 30 | Debt Equity Ratio | |||||
| 31 | Debt service coverage ratio | |||||
| 32 | Interest service coverage ratio | |||||
| 33 | Disclosure of notes on financial results | |||||
* Except EPS which is determined in Rs. & Paise
NOTES TO THE FINANCIAL RESULTS
- The aforesaid results for the quarter ended June 30, 2021 have been reviewed by the Audit Committee and thereafter approved by the Board at their respective meeting held on Friday, the 13th day of August, 2021
- 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.
- There being no subsidiary of the Company, the above results are prepared on standalone basis.
- 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 quarter ending 30 June, 2021 prepared under Ind AS.
- Reconciliation of Net Profit for the quarter ended 30 June, 2021 as reported under erstwhile Indian GAAP and Ind AS is summarized below
| Sl No. | Particulars | Standalone Quarter ended 30th June, 2021 | |
| 1 | Net Profit as per Ind GAAP | 92.41 | |
| 2 | Ind AS Adjustments to Profit & Loss Account | ||
| Effect of the Fair Valuation of instruments | NIL | ||
| 3 | Net Profit as per Ind AS before tax | 196.61 | |
| 4 | Ind AS Adjustments to Other Comprehensive Income | ||
| Other Comprehensive Income | NIL | ||
| Total Comprehensive Income as per ind AS before tax | 196.61 | ||
- Previous year / periods figures have been regrouped / reclassified, wherever necessary.
By order of the Board
For Inter Globe Finance Ltd.
PLACE: KOLKATA
Date: 13th August, 2021
Navin Jain
(Chairman & Managing Director)
DIN - 01197626