This is to inform that at the meeting of the Board of Directors of the Company held today, the following items were considered and approved. 1] Pursuant to provisions of SEBI (Listing ....
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The Board of Directors of Global Offshore Services Limited (Scrip Code: 501848) approved unaudited financial results for the quarter ended June 30, 2025, along with the Limited Review Report by statutory auditors D. Kothary & Co. On a consolidated basis, revenue from operations fell sharply to Rs 425.38 lakhs from Rs 838.63 lakhs in Q1FY25 (a YoY decline of roughly 49%), and the company reported a net loss of Rs 189.64 lakhs (vs a loss of Rs 200.26 lakhs YoY). On a standalone basis, the loss widened to Rs 476.29 lakhs from Rs 193.70 lakhs YoY. The 47th AGM has been scheduled for September 30, 2025 via video conferencing. The Board also noted that during the quarter the company acquired one vessel (AHTSV), which received a Letter of Award post-quarter, and 70,000 convertible warrants were converted into equity, raising paid-up capital to Rs 30.71 crores.
The sharp drop in consolidated revenue is a negative signal for short-term investor sentiment, though the consolidated loss narrowed slightly YoY. Shareholders should also watch Note 2, where a UK court verdict went against the company on disputed expired corporate guarantees of USD 13.5 million — the company is challenging it but no provision has been made, leaving it as a material contingent liability.