Financial Result Quarter 2 - FY20-21

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, 2020
   *(in Lakhs) 
  Particulars STANDALONE 
Quarter Ended Year Ended
30-Jun-20 31-Mar-20 30-Jun-19 31-Mar-20 31-Mar-19
 (Unaudited)   (Audited)   (Audited)   (Audited)   (Audited) 
I. Income          
  Revenue from operations          
(i) Interest Income   205.60 274.14 796.83 810.23
(ii) Dividend Income   9.57   13.00 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)        73.49 559.73
(viii) Sale of services          
(ix) Other revenue from operations  
  Total other revenue from operations     -      -      -         -  
  Total Revenue from operations      -   215.17 274.14  883.32 1,375.86
  Other Income     1.01  5.10  6.81
  Total Income     -   215.17 275.15  888.42  1,382.67
2 Expenses:  
  Cost of material consumed     -      -      -         -  
  Purchases of Stock in trade     48.30  48.46 602.73
  Changes in inventories of finished goods, stock in trade and work in progress   167.29 (56.78) 302.30 106.01
  Employee benefit expenses   32.66 31.88 138.08 143.30
  Finance Costs   48.25 40.72 165.18 195.20
  Depreciation, amortization & impairment   3.43 6.41  21.13  24.60
  Fees and Commission Expense      -      6.33  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   43.94 4.03 133.56 117.60
  Total other expenses     -   43.94 4.03 133.56 117.60
  Total Expenses      -   295.57 74.56  815.04  1,199.35
3 Total Profit  before exceptional and Tax      -   (80.40) 200.59  73.38 183.32
4 Exceptional items-Provision for Doubtful Debts.       (380.25) (136.78)
5 Total Profit before tax      -   (80.40) 200.59 (306.87)  46.54
7 Tax expense   
8 Current Tax   18.40 46.73  18.40  49.50
9 Deffered Tax         (3.35)
10 Total Tax expenses     -   18.40 46.73  18.40  46.15
14 Net Profit/(Loss) for the period from continuing operations      -    (98.80)  153.86 (325.27)  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        -   (98.80) 153.86       (325.27)     0.39
22 Other Comprehensive Income net of taxes        -          
23 Total Comprehensive Income for the period        -   (98.80) 153.86       (325.27)     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
  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        -     (1.45)    2.26    (4.77)     0.01
  Diluted earnings per share from continuing operations        -     (1.45)    2.26    (4.77)     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        -     (1.45)    2.26    (4.77)     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, 2020 have been reviewed by the Audit Committee and thereafter approved by the board at their respective meeting held on Wednesday, the 11th day of November, 2020.
  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.
  5. Reconciliation of Net Profit for the quarter ended 30 September 2020 as reported under erstwhile Indian GAAP and Ind AS is summarized below.

Sl No. Particulars Standalone Quarter ended 30th September, 2020
1 Net Profit as per Ind GAAP   -  
2 Ind AS Adjustments to Profit & Loss Accoun   -  
  Effect of the Fair Valuation of instruments   -  
3 Net Profit as per Ind AS before tax   -  
4 Ind AS Adjustments to Other Comprehensive Income  
  Other Comprehensive Income   -  
  Total Comprehensive Income as per ind AS before tax   -  

  1. Previous year / periods figures have been regrouped / reclassified, wherever necessary.

By order of the Board      
For Inter Globe Finance Ltd.

       PLACE: KOLKATA
 Date: 11th November, 2020

Navin Jain
(Chairman & Managing Director)
DIN - 01197626