Marathon Nextgen Realty 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 Standalone unaudited financial results, after review by the Audit Committee, have been approved and taken on record by the Board of Directors at its meeting held on January 30, 2019. The Statutory Auditors of the Company have carried out a "Limited Review" of the results for the quarter and nine months ended December 31, 2018 in terms of Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements ) Regulation, 2015.
2. The unaudited financial results are prepared in accordance with the principles of Indian Accounting Standard(Ind AS) as notified under the Companies (Indian Accounting Standard) Rules 2015 specified in Section 133 of the Companies Act, 2013.
3. Provision for current tax for the quarter ended December 31, 2018 is after utilising MAT credit of Rs. 66.40 Lakhs
4. Based on the "management approach" as defined in Ind AS 108 - Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the company operates. The Company is primarily engaged in the business of real estate development which the Management and CODM recognise as the sole business segment. Hence, disclosure of segment-wise information is not required and accordingly not provided.
5. Other Income includes Rs.10,32,74,629 share of Profit from Joint Venture Swayam Realtors & Traders LLP where Company is a Partner and is recognized in quarter ended September 30,2018 as Right to receive was established.
6. The Earning Per Share for the quarter & nine months ended December 31,2017 have been restated to give effect of splitting of the face value of equity shares from Rs 10/- to Rs, 5/- shares as per requirement of Accounting Standard (Ind As 33) - Earning Per Share
7. Figures for the previous period are reclassified/re-arranged/re-grouped, wherever necessary.