PCS Technology Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2019
1. The above audited Quarterly and Annual financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 24th May 2019.
2. The figures of the last quarter are the balancing figures in respect of full financial year and to date figures upto third quarter of the respective financial year.
3. Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates in one business segment i.e. IT & ITes related Faculty Management Segment, as such it is the only reportable business segment.
4. “The Company adopted Indian Accounting Standards (Ind-AS) from April 1, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in the IND-AS 34 'Interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India. Financial for the quarter have been prepared in accordance with the recognition and measurement principles of Ind-AS 34."
5. Exceptional item in the quarter and year ending March 2019 includes loss of Rs.100 lacs and year to date loss of Rs. 200 lacs respectively on inter corporate deposits on the basis of management assessment and 'Other Comprehensive Income' for the quarter ended as on 31st March 2019 also include Return (Income) on plan assets (excluding interest there on) on Gratuity Fund of Rs. 31.25 lacs.
6. The Standalone and Consolidated Financial Results have been prepared in accordance with principles of Indian Accounting Standard (IndAS) as specified by ICAI & section 133 of The Companies Act 2013.
7. The Statutory Auditors of the Company have carried out the audit and have issued their unmodified opinion on the financial statements.
8. Figures of the previous periods have been regrouped/rearranged wherever necessary to make them comparable with current period's classification.