PFL Infotech Reports Widened Q1 Loss, Appoints New Secretarial Auditor
PFL Infotech Ltd., a Hyderabad-based company, reported a net loss of Rs 41.85 crore in Q1, up from Rs 9.47 crore in the same quarter last year. The company had zero revenue from operations and total expenses of Rs 41.85 crore. The Board of Directors appointed M/s Marthi & Co as Secretarial Auditor for 2025-2030, scheduled the 38th AGM for September 26, and approved the Directors' Report. The Register of Members and Share Transfer Books will be closed from September 23 to 25.
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Pfl Infotech Ltd. , a Hyderabad-based company, has reported a significant increase in net loss for the first quarter. The company also announced key corporate decisions, including the appointment of a new secretarial auditor and the scheduling of its annual general meeting.
Financial Performance
PFL Infotech's unaudited financial results for the quarter reveal a net loss of Rs 41.85 crore, compared to a loss of Rs 9.47 crore in the same quarter of the previous year. This represents a substantial widening of losses by approximately 342%.
The company reported zero revenue from operations for the quarter. Total expenses stood at Rs 41.85 crore, primarily driven by administrative expenses of Rs 40.87 crore.
Key financial highlights for Q1:
| Particulars (in Rs. crore) | Q1 (Current) | Q1 (Previous) |
|---|---|---|
| Revenue from Operations | 0.00 | 0.00 |
| Total Expenses | 41.85 | 9.47 |
| Net Loss | 41.85 | 9.47 |
| Earnings Per Share (Rs) | -0.06 | -0.01 |
Corporate Updates
The Board of Directors, in its meeting held on August 14, made several key decisions:
Secretarial Auditor Appointment: M/s Marthi & Co, Practicing Company Secretaries, has been appointed as the Secretarial Auditor for a five-year term from April 1, 2025, to March 31, 2030. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Annual General Meeting: The company's 38th AGM is scheduled for September 26, at 4:00 PM.
Book Closure: The Register of Members and Share Transfer Books will remain closed from September 23 to September 25 (both days inclusive).
Directors' Report: The Board has approved the Directors' Report and its annexures for the previous financial year.
AGM Scrutinizer: Shri Soma Sekhar Marthi, Practicing Company Secretary, has been appointed as the Scrutinizer for the 38th AGM.
The newly appointed Secretarial Auditor, Mr. Soma Sekhar Marthi, brings extensive experience in corporate laws, finance, mergers, acquisitions, and administrative matters. He is a Fellow Member of The Institute of Company Secretaries of India and has been associated with several prominent organizations.
PFL Infotech's management will likely face questions from shareholders about the company's financial performance and strategies to return to profitability at the upcoming AGM. The significant increase in administrative expenses and the lack of operational revenue may be areas of concern for investors.
Investors and stakeholders are advised to monitor further announcements and the upcoming AGM for more insights into the company's future plans and strategies.
Historical Stock Returns for Pfl Infotech Ltd.
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.98% | -7.39% | +28.39% | -11.80% | +193.35% | +123.37% |
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