Praveg Limited has announced the conclusion of a search operation conducted by the Income Tax Department at its registered office. The company has stated that the search, which ended on October 17, 2025, has not resulted in any financial impact on its operations.

Key Highlights

• The Income Tax Department concluded its search at Praveg's registered office on October 17, 2025.
• Praveg confirms no financial impact from the search operation.
• Business activities remain stable and unaffected throughout the process.
• The company reaffirms its commitment to regulatory compliance and corporate governance.

Regulatory Compliance

In a filing to the Bombay Stock Exchange (BSE), Praveg Limited provided details of the search operation as required under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The company stated in its regulatory filing, "We confirm that there has been no financial impact on the Company as a result of this development, and the business operations of the Company remain unaffected and continue as usual."

Transparency and Governance

Praveg emphasized its commitment to compliance with all applicable laws and regulations, as well as maintaining high standards of corporate governance. The company assured stakeholders of its intention to fulfill all legal obligations, including necessary disclosures, in a timely and transparent manner.

While the specific details of the alleged violations or contraventions are not currently ascertainable, Praveg has committed to providing further updates as material information becomes available.

Investor Communication

Mukesh Chaudhary, Company Secretary & Compliance Officer of Praveg Limited, signed the regulatory filing, reassuring investors of the company's commitment to keeping them informed and updated on any developments related to this matter.

As the situation unfolds, stakeholders will likely be watching closely for any additional information or potential implications of the Income Tax Department's search operation on Praveg Limited.

Praveg Communications (India) Limited has announced robust financial results for the second quarter of the fiscal year 2021-22, showcasing significant growth across key metrics.

Strong Revenue Growth

The company reported a substantial increase in its consolidated revenue from operations, reaching Rs. 891.34 lakhs for the quarter ended September 30, 2021. This marks a remarkable 161% growth compared to Rs. 341.45 lakhs recorded in the same quarter of the previous year.

Profit Soars

Praveg Communications' profit for the quarter saw an impressive jump, rising to Rs. 169.34 lakhs from Rs. 46.33 lakhs year-over-year, representing a 265% increase.

Half-Year Performance

For the half-year period, the company's total revenue reached Rs. 1,254.52 lakhs, a significant improvement from Rs. 537.45 lakhs in the corresponding period of the previous year, indicating a 133% growth.

Financial Highlights

Operational Update

The company acknowledged that while its operations were impacted by COVID-19, there was no further significant impact during the reported quarter and half-year period. This suggests a recovery in business activities and adaptation to the post-pandemic environment.

Unbilled Services

Notably, the revenue from operations includes unbilled sale of services worth Rs. 113.10 lakhs, indicating potential future revenue recognition.

Praveg Communications' strong performance in Q2 FY22 demonstrates the company's resilience and ability to capitalize on market opportunities despite the challenging business environment. The substantial growth in both revenue and profit underscores the effectiveness of the company's business strategies and operational efficiency.