Revised Unaudited financial result for the half year ended 30.09.2023
Awaiting price reaction for this filing.
BLS Infotech has submitted a revised set of unaudited financial results for the six months ended 30 September 2023, originally approved at a board meeting on 14 November 2023. The company's operations are extremely small, with half-yearly revenue of around Rs. 7.95 lakhs, leading to near-zero profit before and after tax. The balance sheet shows total assets of Rs. 4,083.07 lakhs, but other equity (reserves) stands at a negative Rs. 304 lakhs, pointing to accumulated losses over the years. The cash flow statement shows Rs. 2.37 lakhs used in operating activities, partly offset by Rs. 7.95 lakhs from investing activities. Auditor M/s Acharyya Swapan & Co. issued an unqualified limited review report with no qualifications or concerns raised. The filing itself is significantly delayed, being submitted to BSE in April 2025 for a period ending September 2023.
For shareholders, the picture is concerning: the business appears almost non-operational at a revenue level of just Rs. 7-8 lakhs for six months, reserves are deep in the red, and operating cash flow is negative. The clean auditor opinion provides limited comfort given the scale and the fact that this is a revised submission for a period over 18 months old.