In my opinion, this is an unduly glorified press release. One should carefully read the published financial statements along with note 6 and note 9.
There are some contentious points -
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In point 9 they have mentioned about “a fair value gain of Rs. 702.65 lakhs” against the allotted Invits which is being reflected in the P/L but I think that is more of an asset till not sold/encashed.
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The rectification details mentioned in note 6 are resulting in a more glorified QoQ result. Just a point that one should be aware of.
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The other income of 1015.77 lakhs, which includes ”the fair value gain of 702.65 lakhs" as per the press release, but yet the difference of 312.35 lakhs remains unexplained.
I am not an accounting expert but point 1 and 3 above may need further explanation.
I have not yet heard the earnings conference call, the recording and transcript of which have been published. I had infact even missed its schedule announcement. Rather when was it announced?
I hope to review that soon and find answers to my outstanding questions therein. Would appreciate if anyone knowledgeable can throw some light on these points.
Disclosure: Am invested.
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