Q2 FY23 results show continued losses, negative net worth

Going ConcernPat NegativeNegative Operating CashflowResults View source PDF

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Company posted nil operating revenue and a net loss of Rs 0.49 lakh for Q2 FY23, taking the H1 FY23 loss to Rs 0.48 lakh. Net worth is deeply negative at Rs -195.45 lakh as accumulated losses of Rs -656.77 lakh exceed share capital of Rs 461.32 lakh. Short-term borrowings stand at Rs 192.96 lakh. Auditor issued an unqualified limited review.

Likely market impact

Effectively a non-operating company with negative net worth and continuous losses, raising serious going-concern doubts for shareholders.