Submission of Unaudited Financial Results for the quarter ended 31.12.2025
Awaiting price reaction for this filing.
India Infraspace Ltd filed its unaudited standalone financial results for the quarter ended December 31, 2025. Total income from operations for Q3 FY26 stood at Rs. 16.00 lakhs versus Rs. 7.83 lakhs in Q3 FY25, while the company reported a marginal loss of Rs. 0.26 lakhs for the quarter against a profit of Rs. 15.18 lakhs in the same quarter last year. For the nine-month period, the company swung to a profit of Rs. 15.48 lakhs from a loss of Rs. 13.37 lakhs a year ago. The auditor flagged several concerns: the company's shares have been delisted from the stock exchange and a relisting application is pending before the Securities Appellate Tribunal (SAT); pre-operative expenses of Rs. 33.19 lakhs have been carried forward instead of being written off; Union Bank of India balances could not be verified due to unavailable bank statements; and the company did not maintain an audit trail in its accounting software. There was also a change in statutory auditor from M/s GMCA & Co. to Nikhil D Gupta & Associates.
For shareholders, the most critical point is that the stock remains delisted and trading is not possible until SAT approves the relisting application and all regulatory compliances are met. The auditor's multiple red flags — unverifiable bank balances, un-written-off pre-operative expenses, and missing audit trail — raise serious governance concerns. While the nine-month profit swing looks positive, the absolute numbers are tiny and the delisting overhang makes this a high-risk situation for any retail investor.