Quadrant televentures Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, showing a remarkable turnaround to profitability despite ongoing Corporate Insolvency Resolution Process (CIRP). The telecommunications services provider reported its first quarterly profit since entering insolvency proceedings in September 2025.

Financial Performance Overview

The company's financial metrics for the quarter ended December 31, 2025, demonstrate significant improvement in operational performance:

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Quadrant Televentures reported revenue from operations of ₹15,829.14 lakh, down from ₹18,024.25 lakh in the corresponding period of the previous year. The net loss for the nine months stood at ₹2,880.28 lakh compared to ₹22,740.54 lakh in the same period last year.

Corporate Insolvency Resolution Process Updates

The company continues under CIRP following the NCLT Mumbai order dated September 2, 2025. Key developments in the insolvency process include:

The Resolution Professional has published Form G on December 31, 2025, and republished on January 31, 2026, inviting Expressions of Interest (EOI) from prospective resolution applicants. Mr. Rajesh Jhunjhunwala replaced Mr. Atul Kumar Kansal, who resigned due to personal exigencies.

Regulatory Compliance and Audit Process

The financial results were taken on record by the Resolution Professional on February 14, 2026, with the process commencing at 7:30 PM and concluding at 8:20 PM. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors M/s. SGN & Co., Chartered Accountants, New Delhi, under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Expense Structure and Cost Management

The company's total expenses for Q3FY26 amounted to ₹4,693.46 lakh, significantly lower than ₹6,920.96 lakh in the previous quarter. Major expense categories included:

• Employee Benefits Expense: ₹1,167.85 lakh vs ₹1,173.10 lakh (Q2FY26)
• Finance Costs: ₹315.90 lakh vs ₹2,033.68 lakh (Q2FY26)
• Network Operating Expenditure: ₹1,510.91 lakh vs ₹1,619.26 lakh (Q2FY26)
• Sales and Marketing Expenses: ₹1,174.73 lakh vs ₹1,209.71 lakh (Q2FY26)

Financial Position and Moratorium Impact

Due to the moratorium under Section 14 of the Insolvency and Bankruptcy Code, the company has not provided finance costs totaling ₹1,746.52 lakh for the quarter and ₹2,297.19 lakh for the nine months ended December 31, 2025. Additionally, interest on unsecured loans amounting to ₹456.23 lakh for the quarter and ₹1,368.69 lakh for nine months has not been provided in the books of account.

Exceptional Items and Labour Code Impact

The company recognized an exceptional item of ₹287.54 lakh during the quarter related to employee benefits under the new Labour Codes. This impact is driven by regulatory changes in Social Security Code 2020, Occupational Safety Health & Working Conditions Code 2020, and Industrial Relations Code 2020.

Business Operations and Outlook

Quadrant Televentures operates in the telecommunications services sector, providing unified telephony services primarily in the Punjab telecom circle, including Punjab, Chandigarh, and Panchkula. The company continues operations as a going concern during the CIRP period, with the Resolution Professional managing affairs in consultation with the Committee of Creditors. The financial results have been prepared on a going concern basis with a view to company revival through the resolution plan process.

Quadrant Televentures Limited has issued a revised Form-G under the Insolvency and Bankruptcy Code 2016, inviting fresh expressions of interest from prospective resolution applicants. The telecommunication and broadband services provider, operating primarily in Punjab and adjoining areas, has been under Corporate Insolvency Resolution Process since September 2, 2025.

Corporate Insolvency Process Details

The company filed the updated Form-G with BSE Limited on February 1, 2026, following a decision by the Committee of Creditors (CoC) in their meeting held on January 27, 2026. The CoC decided to revise the eligibility criterion and issue a fresh Form-G, though existing eligible Prospective Resolution Applicants (PRAs) can continue without applying afresh.

Financial and Operational Overview

According to the Form-G disclosure, Quadrant Televentures Limited reported revenue of Rs. 273.97 crores in FY 2024-25, based on the last available financial statements. The company's equity shares are listed on BSE with scrip code 511116.

Resolution Process Timeline

The revised Form-G outlines a comprehensive timeline for the resolution process, with key milestones extending through April 2026.

Key Dates for Resolution Process

Company Operations and Contact Details

Quadrant Televentures Limited operates from its corporate office located at B-71, Phase-VII, Industrial Focal Point, Mohali-160055, Punjab, while maintaining its registered office in Aurangabad, Maharashtra. The company provides telecommunication and broadband services under the Connect Broadband brand.

Prospective resolution applicants can obtain detailed information including financial statements, creditor lists, and eligibility criteria through the company's website at www.connectbroadband.in or by contacting the process email at qtl.ibc@gmail.com . The company is not registered as a Micro, Small and Medium Enterprise (MSME).

The resolution professional, Mr. Rajesh Jhunjhunwala, is overseeing the insolvency proceedings and can be contacted at jhunjhunwala.rajesh@gmail.com for process-related queries.