BF Utilities Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 30 January, 2019. The Statutory Auditors of the Company have carried out a "Limited Review" of the results for the quarter and Nine Months ended 31 December, 2018.
2. Certain litigations by and against the Company and subsidiaries of the Company are pending in various Courts, and the matter is subjudice. No cognizance thereof is taken in the above results, pending final outcome of the cases.
Due to disputes with the service provider the Company’s windmills are partly non-operational thereby adversely affecting power generation.
3. During the Quarter the Company has received a dividend of Rs. 1,877.17 lakhs (During the period Rs. 2,739.28 Lakh) from Nandi Highway Developers Ltd., a subsidiary company.
4. Power generation business is subject to seasonal variations in winds, hence the results of the quarter do not necessarily indicate trend for full years' performance.
5. The Company has reclassified previous period’s figures to confirm to current period’s classification, wherever necessary.