Simplex 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 unaudited financial results for the quarter and nine months ended December 31, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 30th January, 2019 in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.
2. The Statutory Auditors have carried out "Limited Review" of the financial results for the quarter and nine months ended 31st December, 2018.
3. The Company has adopted Ind AS 115 using cumulative effect method effective from 01st April, 2018. The adoption of the standard is not having any material impact on the financial statements of the Company.
4. The Company has only one reportable segment viz."Property Development", disclosure under Ind AS 108 on "Operating Segments" is not applicable.
5. During the quarter, the Company received refund of income tax and interest thereon for earlier years. Interest on income tax refund is Rs. 504 lakhs which has been shown as an exceptional item.
6. Figures of the previous period have been regrouped, wherever necessary, to conform to the current quarter's presentation.