The Audited Financial Results for the quarter and year ended on 31st March, 2024, along with the auditor's report; The Audited Balance Sheet and Profit & Loss account, along with ....
Awaiting price reaction for this filing.
Kome-On Communication Ltd reported audited results for FY24 with zero revenue from operations (same as FY23), total income of just ₹0.05 lakh, and a massive net loss of ₹1,327.65 lakhs against a loss of ₹130.29 lakhs in the previous year. The deeper loss was driven by a ₹1,321.62 lakh exceptional item, which appears to be a write-off of earlier loans given out (current loans fell from ₹1,321.62 lakhs to nil). Total assets collapsed from ₹1,327.04 lakhs to just ₹1.13 lakhs (cash), while shareholder equity turned negative at ₹(12.74) lakhs versus ₹1,314.91 lakhs a year earlier. Operating cash flow was slightly negative at ₹(0.46) lakh and the company effectively has no business operations. The statutory auditor issued an unqualified opinion, though the filing itself is delayed (dated February 2026 for March 2024 results).
This is a deeply negative outcome for shareholders — the company has no revenue, eroded nearly all its assets, slipped into negative net worth, and booked a huge write-off. The stock is effectively a non-operating shell with serious going-concern risk, despite the auditor signing off a clean report. Investors should treat this as a high-risk situation.