Paramount Communications Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2024

1. The aforesaid Financial Results were placed before and reviewed by the Audit Committee at its meeting held on 8th August 2024 and approved by the Board of Directors at its meeting held on the same date.

2. The Statutory Auditors have carried out Limited Review of the financial results of the Company for the quarter ended June 30, 2024 under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors have expressed an unmodified opinion on these results.

3. These standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

4. A) Details of utilization of unutilized amount out of proceeds of 6,23,25,925 Equity Warrants issued to non-promoters persons and entities and upon receipt of balance money for 5,86,25,925 exercised options for conversion of equity share warrants into equivalent number of equity shares for period from 1st April, 2024 to 30th June,2024 is summarized as below:

Description Amount (Rs. in lakhs)

Un-utilized amount as on 1st April, 2024 1.83

Un-utilized amount as on 30th June, 2024 * 1.83

*The amount has been parked in utilization account with scheduled bank.

The funds raised were utilized for the purpose for which they were raised and there is no deviation in utilization of issue proceeds.

The remaining equity warrants shall be converted within the specified time limit as per SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018.

B) Details of utilization of unutilized amount out of proceeds of 2,16,24,980 equity shares issued on preferential basis to non-promoter persons and entities for the period from 1st April, 2024 to 30th June,2024 is summarized as below:

Description Amount (Rs. in lakhs)

Un-utilized amount as on 1st April, 2024 5,601.13

Add: Income earned on un-utilized amount 56.46

Less: Utilization during the quarter ended 30th June ,2024 2,053.98

Un-utilized amount as on 30th June, 2024 ** 3,603.61

** The amount has been parked in mutual funds and utilization account with scheduled bank.

The funds raised were utilized for the purpose for which they were raised and there is no deviation in utilization of issue proceeds.

5. In view of brought forwarded losses as per Income Tax Act, 1961, no provision for current tax is required to be made in the current quarter. Due to reasonable certainity of set off of brought forward losses, deferred tax asset (net) has been recognised on all the temporary differences.

6. There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.

7. The figures of the quarter ended March 31, 2024 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto third quarter of the respective financial year which were subject to limited review by the auditor.

8. The figures of the previous year /periods have been regrouped/ rearranged wherever considered necessary to facilitate comparison.