Punjab communications has announced its unaudited financial results for the quarter ended December 31, 2025, reporting a net loss of ₹90.86 lacs compared to a profit of ₹54.97 lacs in the corresponding quarter of the previous year. The results were approved by the Board of Directors in their 237th meeting held on February 13, 2026.

Financial Performance Overview

Despite reporting a quarterly loss, the company demonstrated strong revenue growth with total revenue increasing by 25.8% to ₹717.51 lacs in Q3FY26 from ₹570.33 lacs in Q3FY25. Revenue from operations grew significantly by 40.6% to ₹498.82 lacs compared to ₹354.72 lacs in the same period last year.

Expense Analysis

Total expenses increased substantially to ₹808.37 lacs in Q3FY26 from ₹581.13 lacs in Q3FY25, representing a 39.1% increase. The major expense components included employee benefits expense of ₹437.19 lacs, other expenses of ₹215.40 lacs, and cost of materials consumed at ₹127.81 lacs.

Nine-Month Performance

For the nine months ended December 31, 2025, Punjab Communications Ltd reported a net profit of ₹267.19 lacs compared to a loss of ₹179.02 lacs in the corresponding period of the previous year. Total revenue for the nine-month period reached ₹2,758.48 lacs, up from ₹1,833.01 lacs, marking a significant improvement of 50.5%.

Auditor's Qualified Opinion

The statutory auditors, M/s Charanjit Singh & Associates, issued a qualified opinion on the financial results, highlighting concerns regarding inventory valuation methods and compliance with Indian Accounting Standards. The auditors noted that the company values inventory using the last purchase rate method instead of the prescribed FIFO method, and physical verification of inventories is not conducted.

Corporate Details

The company's paid-up equity share capital remains unchanged at ₹1,202.36 lacs with a face value of ₹10 per share. The board meeting commenced at 12:15 PM and concluded at 1:45 PM on February 13, 2026, with the results being communicated to the Bombay Stock Exchange in compliance with SEBI regulations.

Punjab Communications Limited has provided a detailed clarification to the Bombay Stock Exchange regarding the timeline and process of appointing CA Deepika Arora as the company's Chief Financial Officer. The clarification, dated December 26, 2025, addresses queries raised by the exchange about the timing of the appointment notification.

Appointment Timeline and Process

The company outlined a structured appointment process that involved both government authorization and board approval. CA Deepika Arora initially assumed charge as CFO on December 22, 2025, following orders from the Department of Industries & Commerce, Government of Punjab. However, this assumption of duties was subject to formal approval by the company's Board of Directors.

Regulatory Compliance Explanation

Punjab Communications emphasized its adherence to regulatory requirements in the appointment disclosure process. The company clarified that the formal appointment occurred during the 236th Board Meeting held on December 24, 2025, where directors officially appointed CA Deepika Arora as CFO with effect from December 22, 2025.

The company specifically addressed the exchange's concern about the 12-hour notification requirement. Punjab Communications stated that the disclosure was made within 12 hours from the conclusion of the Board Meeting, which ended at 13:35 hours on December 24, 2025. This timeline demonstrates compliance with applicable regulatory requirements.

Government Orders and Corporate Governance

The clarification highlights the dual-approval process involving government entities and corporate governance structures. The appointment followed government orders from Punjab's Department of Industries & Commerce, reflecting the company's operational framework within the state's administrative structure.

Punjab Communications explained that the exchange notification was submitted only after the appointment was "duly formalized and confirmed by the Board," ensuring proper corporate governance procedures were followed before public disclosure.

Communication with Exchange

The December 26, 2025 clarification letter references the company's earlier communication dated December 24, 2025 (letter no. PCL/CS/16551), which initially informed the exchange about CA Deepika Arora's CFO appointment. The subsequent clarification was issued in response to the exchange's specific query regarding the notification timeline.

The company requested that the Bombay Stock Exchange take the clarification on record, demonstrating its commitment to maintaining transparent communication with regulatory authorities and ensuring compliance with disclosure requirements.