Submission of the unaudited financial results of the Company for the quarter ended 31.12.2024
Awaiting price reaction for this filing.
India Infraspace Ltd reported Q3 FY2025 results with zero revenue from operations for the quarter ended December 31, 2024. The company earned only Rs. 3.88 lakhs as other income on a standalone basis, while total expenses stood at Rs. 28.63 lakhs, resulting in a net loss of Rs. 24.75 lakhs for the quarter. On a consolidated basis, the nine-month loss reached Rs. 108.20 lakhs. The statutory auditors (GMCA & Co.) issued an unmodified review report, confirming the financial statements are free of material misstatement. Notably, the subsidiary Shaurya Casting Pvt. Ltd.'s financials were unreviewed by their auditors and based solely on management-provided information.
The company is operating at a loss with zero operational revenue, indicating severe financial stress. Shareholders should be cautious as accumulated losses have eroded equity, with negative other equity of Rs. 40.72 lakhs on standalone and Rs. 656.94 lakhs on consolidated basis.