Intrasoft Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2018
1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 28 May 2018.
2. Statutory Auditors of the Company have audited the results for the quarter and year ended 31 March 2018. An unqualified opinion has been issued and the same is being filed with the stock exchanges along with the above results.
3. Results for the quarter and year ended 31 March 2018 are in accordance with the Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs, which are applicable to the Company for the accounting period beginning on or after 01 April, 2017. Consequently results for the corresponding quarter and year ended 31 March 2017 has been restated as per requirements of the said notification, to comply with Ind AS to make them comparable.
4. As per the requirement of IND AS 108 as notified under Companies (Indian Accounting Standards) Rules 2015 as specified under Section 133 of the Companies Act, no disclosure is required as the Company is operating in single business segment of Internet based delivery of services.
5. The figures for the quarter ended 31 March 2018 and 31 March 2017 are the balancing Figures between audited figures in respect of the full financial year and the unaudited third quarter published year to date figures, which were subjected to a limited review.
6. The Board of Directors recommended a Dividend @ 20% i.e. Rs.2 per Equity Share for the Financial Year 2017-18 at this meeting.
7. Reconciliation of previously reported Net Profit (after tax) on account of transition from previous Indian GAAP to Ind AS for the quarter and year ended 31 March 2017:For Table, kindly refer Corporate Announcements on www.bseindia.com.
8. Reconciliation of previously reported Equity on account of transition from previous Indian GAAP to Ind AS :For Table, kindly refer Corporate Announcements on www.bseindia.com.