Infronics Systems Reports Zero Revenue and Rs 17 Lakh Loss in Q1
Infronics Systems Limited faced a challenging first quarter with zero revenue and a net loss of Rs 17.03 lakhs, compared to Rs 79.06 lakhs revenue and Rs 43.93 lakhs profit in the same quarter last year. The revenue decline is due to the conclusion of SMS service contracts with BSNL. The company is exploring new technological product development while dealing with a disputed Rs 12.05 crore demand notice from M/s Mudunuru Limited. Management assures sufficient cash to settle current and near-future liabilities.
14Aug 25
Infronics Systems Addresses ₹12.05 Crore Demand and Going Concern Issues in Q1 Results
Infronics Systems Limited approved its Q1 unaudited financial results with auditor qualifications on two issues: a ₹12.05 crore demand notice from Mudunuru Limited and uncertainty about the company's going concern status. Management denied liability for the demand, disclosed it as a contingent liability, and affirmed ongoing product development initiatives to address future business prospects. The board meeting was held on August 14, and the trading window remains closed until 48 hours after results publication.