Infomedia Press Limited , a company facing significant operational challenges, has reported its financial results for the quarter and half-year ended September 30. The company, which has discontinued its operations, continues to grapple with financial difficulties as reflected in its latest earnings report.

Financial Performance

For the quarter ended September 30, Infomedia Press reported:

The company's performance shows a concerning trend, with accumulated losses amounting to ₹11,114.53 lakh, resulting in a negative net worth.

Operational Status and Future Outlook

Infomedia Press has discontinued its operations in previous years, which continues to impact its financial health. The management is currently evaluating various options, including the possibility of starting a new line of business to revive the company's fortunes.

Financial Support

Network18 Media & Investments Limited, the holding company of Infomedia Press, has provided a support letter, committing to extend financial support for the foreseeable future. This backing is crucial for the company's ability to continue as a going concern.

Auditor's Review

The company's statutory auditors have conducted a limited review of the financial results. They have highlighted the existence of a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern, given its discontinued operations and accumulated losses.

Board Approval

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 14.

While Infomedia Press faces substantial challenges, the management's efforts to explore new business opportunities and the support from its holding company provide a glimmer of hope for potential turnaround. Investors and stakeholders will be keenly watching the company's next moves as it navigates through these difficult times.

Infomedia Press Limited , a company that has discontinued its operations, reported a net loss of ₹102.81 lakh for the quarter ended June 30. The company's financial results, approved by its Board of Directors on July 14, reveal ongoing challenges and efforts to revitalize the business.

Financial Performance

The company's Q1 results show a slight improvement compared to the same quarter last year:

The company recorded no income during the period, with total expenses primarily consisting of finance costs amounting to ₹73.71 lakh.

Accumulated Losses and Negative Net Worth

Infomedia Press has been facing significant financial challenges:

• Accumulated losses have reached ₹11,089.89 lakh
• The company's net worth has turned negative due to these losses

Discontinued Operations and Future Plans

Infomedia Press had discontinued its operations in previous years. However, the management is actively evaluating various options to revive the company's fortunes:

• Exploring the possibility of starting a new line of business
• Network18 Media & Investments Limited, the holding company, has provided a support letter to extend financial assistance as required

Auditor's Review

Chaturvedi & Shah LLP, the company's auditors, have conducted a limited review of the financial results. They have highlighted the material uncertainty related to the company's ability to continue as a going concern, given its discontinued operations and accumulated losses.

Conclusion

Despite the ongoing challenges, Infomedia Press Limited continues to operate with the support of its holding company. The management's efforts to explore new business opportunities and the financial backing from Network18 Media & Investments Limited will be crucial in determining the company's future trajectory.

Investors and stakeholders will be closely watching the company's progress in the coming quarters, as it strives to overcome its financial hurdles and potentially venture into a new line of business.