Garlon Polyfab Industries Limited reported a net loss of ₹0.19 lakh for the quarter ended December 31, 2019, as the company recorded zero income from operations. The total expenses for the quarter amounted to ₹1.09 lakh, consisting of ₹0.90 lakh towards employee benefits and ₹0.19 lakh in other expenses. This performance represents a narrowing of losses compared to the net loss of ₹4.70 lakh reported in the corresponding quarter of the previous year.

For the nine months ended December 31, 2019, the company accumulated a net loss of ₹1.54 lakh on total expenses of ₹1.54 lakh. In the same period of the previous year, the net loss was significantly higher at ₹11.11 lakh on expenses of ₹11.11 lakh. The paid-up equity share capital remained constant at ₹461.32 lakh with a face value of ₹10 per share throughout the reported periods.

The Board of Directors approved the unaudited financial results at a meeting held on February 14, 2020. The results were reviewed by the Audit Committee on the same date. The financial statements have been prepared in compliance with the Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs, following the company's adoption of Ind AS from the financial year commencing April 1, 2017.

P. D. Agrawal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results. The review report stated that nothing came to their attention to suggest the results were not prepared in accordance with Ind AS and other recognized accounting policies. However, the auditors noted they were not engaged to review the comparative figures for the quarter ended December 31, 2019, which were furnished by the management.

Financial Results for Q3FY20

The company's earnings per share (EPS), both basic and diluted, was reported as (0.00) for the quarter and nine months ended December 31, 2019. The previous year's audited results for the year ended March 31, 2019, showed a total income of ₹13.10 lakh and a net loss of ₹2.34 lakh.

Garlon Polyfab Industries Limited reported a net loss of ₹26,964 for the quarter ended December 31, 2017, with zero income from operations. The unaudited financial results, approved by the Board of Directors on January 25, 2018, indicate that the company's total expenses for the quarter stood at ₹26,964, consisting entirely of other expenses. The paid-up equity share capital remained unchanged at ₹4,61,32,000, with a face value of ₹10 per share.

The Board meeting, held at the registered office in Kanpur, commenced at 4:00 PM and concluded at 5:00 PM. The standalone financial results for the quarter and nine months ended December 31, 2017, were reviewed by the Audit Committee on February 14, 2018, and subsequently approved by the Board. The company has adopted Indian Accounting Standards (Ind-AS) for the financial year commencing from April 1, 2017, in compliance with the Ministry of Corporate Affairs notifications.

P. D. Agrawal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results. The review report, dated January 25, 2018, stated that nothing came to their attention to suggest that the results were not prepared in accordance with Ind-AS and other recognized accounting policies. The auditors noted that they were not engaged to review the comparative figures, which were furnished by the management.

The financial results for the nine months ended December 31, 2017, also reflected a net loss of ₹85,892. Total expenses for this period amounted to ₹85,892, with other expenses accounting for ₹80,892 and employee benefits expense totaling ₹5,000. The company reported no income from operations or other income during the nine-month period. The basic and diluted earnings per share (EPS) for both the quarter and the nine months were reported as (0.00).

Financial Highlights for Q3FY18

The company has made the financial information available on its website. The previous period figures have been regrouped or reclassified to ensure comparability with the current period's results.