Key Financial Figures (₹ in Lakhs)
Quarter ended June 30, 2026 (Unaudited):
- Revenue from Operations: ₹5,040.01
- Other Income: ₹55.95
- Total Income: ₹5,095.96
- Total Expenses: ₹4,771.16
- Profit before tax: ₹324.80
- Tax Expense: ₹0
- Profit for the quarter: ₹324.80
- Other Comprehensive Income: ₹12.66
- Total Comprehensive Income: ₹337.46
- Earnings Per Share (Basic & Diluted): ₹0.05
Comparative Figures:
- Quarter ended March 31, 2026 (Audited): Profit ₹550.10 lakhs, EPS ₹0.09
- Quarter ended June 30, 2025 (Unaudited): Loss ₹(1,382.37) lakhs, EPS ₹(0.23)
- Previous Financial Year ended March 31, 2026 (Audited): Loss ₹(2,330.18) lakhs, EPS ₹(0.38)
Balance Sheet Position:
- Paid up equity share capital: ₹6,122.60 lakhs (Face Value Re. 1/- each)
- Other Equity: Negative ₹(293,414.19) lakhs as at June 30, 2026
- Accumulated losses: ₹293,414.19 lakhs resulting in complete erosion of net worth
Expenses Breakdown (Quarter ended June 30, 2026):
- Employee Benefits Expense: ₹1,183.60
- Finance Costs: ₹36.93 (Note: ₹2,192.61 lakhs not provided - see below)
- Depreciation and Amortization: ₹371.79
- Network Operating Expenditure: ₹1,623.57
- Sales and Marketing Expenses: ₹1,178.55
- Other Expenses: ₹376.72
CIRP Status and Timeline
The Company is under Corporate Insolvency Resolution Process since September 2, 2025 when NCLT Mumbai Bench admitted application filed by IDBI Trusteeship Services Limited for claimed default of ₹36,486.48 crores.
Key CIRP Events:
- Initial Form G published: December 2, 2025
- Form G republished: December 31, 2025, January 31, 2026, February 16, 2026, February 22, 2026
- RP Changes: Mr. Atul Kumar Kansal appointed initially, resigned due to personal exigencies; Mr. Rajesh Jhunjhunwala appointed as RP vide NCLT order dated January 12, 2026 (received January 23, 2026)
- Current Status: 8 entities found eligible as Prospective Resolution Applicants; 4 resolution plans submitted; plans currently under e-voting by Committee of Creditors
Auditor Qualifications and Key Notes
Material Uncertainty Regarding Going Concern:
Company has accumulated losses of ₹293,414.19 lakhs, current liabilities exceed current assets, defaulted on borrowings, and undergoing CIRP with multiple litigations pending. Financial results prepared on going concern basis anticipating revival through resolution plan.
Unprovided Finance Costs:
Due to moratorium under Section 14 of IBC, finance cost of ₹2,192.61 lakhs for quarter ended June 30, 2026 has not been provided. Had this been provided, profit for the quarter would have been lower by ₹2,192.61 lakhs.
Undetermined Creditor Claims:
Claims from operational creditors, financial creditors, other creditors and employees are under reconciliation, verification and adjudication by RP. Final amount payable is unascertainable, impacting profit, assets, liabilities and equity.
Exceptional Items:
Includes ₹287.54 lakhs provided towards employee benefits pursuant to applicability of New Labour Code.
Confidential CIRP Information:
Information regarding CIRP procedures, minutes of CoC meetings, and outcomes are confidential and not provided to auditors, making potential impact unascertained.
Signatories and Process
- Results taken on record by Resolution Professional Mr. Rajesh Jhunjhunwala on August 11, 2026
- Process duration: 2:00 PM to 3:50 PM
- Signed by suspended Whole Time Director Mr. Dinesh Ashokrao Kadam (DIN: 08282276) for compliance
- CFO & Company Secretary Mr. Umesh Prasad Srivastava issued the submission letter
- Auditors: M/s. SGN & Co., Chartered Accountants (Firm Registration No. 134565W)
Business Context
- Single business segment: Telecommunications Services
- Operational only in Punjab Telecom Circle (Punjab, Chandigarh and Panchkula)
- Corporate Office: B-71, Phase-VII, Industrial Focal Point, Mohali-160055, Punjab