Millennium Online Solutions (India) Limited has released its financial results for the first quarter, revealing a mixed performance across its standalone and consolidated operations.

Standalone Performance

In its standalone results, Millennium Online Solutions reported zero revenue from operations for the quarter. However, the company managed to narrow its net loss to Rs 5.22 lakhs, compared to a loss of Rs 5.38 lakhs in the same quarter of the previous year. This slight improvement came despite ongoing operational challenges.

The company's expenses for the quarter were primarily driven by:

• Employee benefits expenses: Rs 0.45 lakhs
• Other expenses: Rs 4.77 lakhs

Consolidated Results Show Promise

On a consolidated basis, which includes the performance of its subsidiary, Millennium Online Solutions demonstrated significant growth:

• Revenue from operations surged to Rs 50.67 lakhs, up from Rs 18.27 lakhs in the corresponding quarter last year, marking a substantial increase of 177.34%.
• Net loss reduced considerably to Rs 1.09 lakhs, compared to a loss of Rs 8.65 lakhs in the same period last year.

The consolidated results include the performance of one subsidiary, which contributed significantly to the group's financial position:

• Total assets of the subsidiary: Rs 255.90 lakhs
• Revenue generated by the subsidiary: Rs 150.67 lakhs

Key Financial Metrics

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors in their meeting. The company has adhered to the regulatory requirements by submitting its unaudited financial results in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Outlook

While the standalone operations continue to face challenges with zero revenue, the consolidated performance shows promising signs of growth. The significant increase in consolidated revenue and the reduced net loss indicate that the company's subsidiary operations are gaining traction in the market.

Investors and stakeholders will be watching closely to see if Millennium Online Solutions can maintain this growth trajectory and potentially turn its standalone operations around in the coming quarters.

Millennium Online Solutions (India) Limited , a company listed on the Bombay Stock Exchange (BSE: 511187), has announced significant changes to its board of directors, effective August 6, 2025. The company's board meeting, which commenced at 4:00 PM and concluded at 5:00 PM on the same day, resulted in two key decisions that are set to shape the company's leadership structure.

New Whole-Time Director Appointed

Mr. Harilal Singh (DIN: 05124923) has been appointed as the new Whole-Time Director of Millennium Online Solutions. The board has approved his appointment for a term of three consecutive years, starting from August 6, 2025, to August 5, 2028. However, this appointment is subject to shareholder approval at the upcoming general meeting.

Mr. Singh brings valuable experience to the role, holding a B.Com degree with expertise in accounting and finance. His background is expected to contribute significantly to the company's financial strategies and growth initiatives.

Change in Director Designation

In another notable move, the board has approved a change in designation for Mr. Nikunj Pancholi (DIN: 06395775). Previously serving as a Non-Executive Independent Director, Mr. Pancholi will now assume the role of Non-Executive Non-Independent Director. This change also takes effect from August 6, 2025, and his position will now be subject to retirement by rotation.

Mr. Pancholi holds a Bachelor's degree in Electronics and Communication from Hemachandracharya North Gujarat University. His diverse experience and knowledge in corporate affairs are expected to continue benefiting the company in his new capacity.

Board Independence and Compliance

The company has confirmed that neither Mr. Singh nor Mr. Pancholi are related to any existing directors, key managerial personnel, or promoters of Millennium Online Solutions. This information underscores the company's commitment to maintaining an independent and diverse board structure.

Furthermore, both directors have not been debarred from holding any office as a director by virtue of any SEBI Order or any other such authority, ensuring compliance with regulatory requirements.

Committee Memberships

While Mr. Singh does not currently hold any committee memberships within the company, Mr. Pancholi serves on several key committees:

• Audit Committee (Member)
• Nomination & Remuneration Committee (Member)
• Stakeholder Relationship Committee (Member)

These appointments and changes in designation were made based on recommendations from the Nomination & Remuneration Committee and approved by the board of directors.

Millennium Online Solutions' proactive approach to board restructuring demonstrates its commitment to strong corporate governance and strategic leadership. As the company moves forward with these changes, stakeholders will be keenly watching how these new appointments influence the company's direction and performance in the coming years.