We are hereby enclosing the intimation of resignation of Chief financial officer of the company
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Awaiting price reaction for this filing.
The Board of Zinema Media And Entertainment Ltd accepted the resignation of Mr. Praveen Potabattula from the post of Chief Financial Officer on May 29, 2025, citing personal reasons with no other material reasons disclosed. In the same board meeting, the company approved its audited standalone and consolidated financial results for FY ended March 31, 2025, reporting total income of Rs. 59.16 lakhs (up from Rs. 45.87 lakhs in FY24) and profit before tax of Rs. 29.12 lakhs. The Board also recommended a small dividend of Rs. 0.05 per equity share (face value Rs. 10), subject to shareholder approval. The statutory auditors issued an unmodified opinion on the financials. Notably, Mr. Praveen's resignation letter refers to a departure date of October 15, 2024, indicating the formal board acceptance came several months after his stated intention to step down.
The exit of a Key Managerial Personnel is a governance event for shareholders to track, especially given the apparent gap between his stated resignation intent and formal board acceptance. The company still posted improved profits and declared a dividend, suggesting underlying operations remain stable, but investors should watch for the timely appointment of a new CFO to avoid leadership gaps in finance.