Financial Result Quarter 2 - 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 UNAUDITED FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENDED SEPTEMBER 30, 2019.
 *(in Lakhs) 
Particulars  STANDALONE 
Quarter Ended 6 Months Ended Year Ended
30-Sep-19 30-Jun-19 30-Sep-18 30-Sep-19 30-Sep-18 31-Mar-19
 (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)   (Audited) 
I. Income
Revenue from operations
(i) Interest Income  205.25   205.23   260.09   410.48   962.78   810.23 
(ii) Dividend Income  2.94   0.03   2.97   5.90 
(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)  3.60   69.89   73.49   559.73 
(viii) Sale of services
(ix) Other revenue from operations
Total other revenue from operations  -     -     -     -   
Total Revenue from operations   211.79   275.15   260.09   486.94   962.78   1,375.86 
Other Income  1.90   -     4.50   1.90   8.55   6.81 
Total Income  213.69   275.15   264.59   488.84   971.33   1,382.67 
2 Expenses:
Cost of material consumed  -     -     -     -   
Purchases of Stock in trade  48.30   52.20   48.30   421.05   602.73 
Changes in inventories of finished goods, stock in trade and
work in progress		  68.66   (56.78)  161.14   11.88   257.94   106.01 
Employee benefit expenses  38.13   31.88   28.64   70.01   57.26   143.30 
Finance Costs  43.65   40.72   56.02   84.37   97.40   195.20 
Depreciation, amortization & impairment  5.88   6.41   6.80   12.29   14.38   24.60 
Fees and Commission Expense  -     9.91 
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  99.96   4.03   15.27   103.99   44.49   117.60 
Total other expenses  99.96   4.03   15.27   103.99   44.49   117.60 
Total Expenses   256.28   74.56   320.06   330.84   892.52   1,199.35 
3 Total Profit  before exceptional and Tax   (42.59)  200.59   (55.47)  158.00   78.81   183.32 
4 Exceptional items-Provision for Doubtful Debts.  -     -     (80.40)  -     (296.78)  (136.78)
5 Total Profit before tax   (42.59)  200.59   (134.86)  158.00   (217.97)  46.54 
7 Tax expense 
8 Current Tax  -     46.73   -     46.73   -     49.50 
9 Deffered Tax  (3.35)
10 Total Tax expenses  -     46.73   -     46.73   46.15 
14 Net Profit/(Loss) for the period from continuing operations   (42.59)  153.86   (134.86)  111.27   (217.97)  0.39 
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  (42.59)  153.86   (134.86)  111.27   (217.97)  0.39 
22 Other Comprehensive Income net of taxes  -   
23 Total Comprehensive Income for the period  (42.59)  153.86   (134.86)  111.27   (217.97)  0.39 
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   682.23 
Face value of equity share capital  10.00   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  (0.62)  2.26   (1.99)  1.63   (3.19)  0.01 
Diluted earnings per share from continuing operations  (0.62)  2.26   (1.99)  1.63   (3.19)  0.01 
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  (0.62)  2.26   (1.99)  1.63   (3.19)  0.01 
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
  1. The aforesaid results for the quarter and half year ended September 30, 2019 have been reviewed by the Audit Committee and thereafter approved by the board at their respective meeting held on Wednesday, the 13th day of November, 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 September 2019 as reported under erstwhile Indian GAAP and Ind AS is summarized below
    6.
Sl No. Particulars Standalone Quarter ended 30th September, 2019 
1 Net Profit as per Ind GAAP  (70.66)
2 Ind AS Adjustments to Profit & Loss Account
Effect of the Fair Valuation of instruments  28.07 
3 Net Profit as per Ind AS before tax  (42.59)
4 Ind AS Adjustments to Other Comprehensive Income
Other Comprehensive Income  -   
Total Comprehensive Income as per ind AS before tax  (42.59)
  1. Previous year / periods figures have been regrouped / reclassified, wherever necessary.

By order of the Board      
For Inter Globe Finance Ltd.

  PLACE: KOLKATA
 Date: 13th November, 2019.

Navin Jain
(Chairman & Managing Director)
DIN - 01197626