Omega Interactive 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 audited financial statemtnts for the quarter and year ended March 31, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 29, 2018. Thee statutory auditors have expressed an unqualified opinion. The Information presented above is extracted from audited financial statements. The financial statements are prepared in accordance with the lndian Accounting Standards (Ind AS} as prescribed under section 133 of the Companies Act. 2013 read with relevant rules issued thereunder.
2. The Company has adopted Indian Accounting Standards (Ind AS) for the first time effective from April 01, 2017 with a transition date of April 01, 2016 and accordingly. the above financia l results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS prescribed under section 133 of the Companies Ac,. 2013 read with Compantes (Indian Accounting Standards) Rules, 2015 as amended and other recognised accounting practices and policies to the extent applicable.
3. The company is engaged In the business of software services Including development of softwaes and therefore there is only one repotable operations segment. Hence disclosure required by Indian Accounting Standard - 108 "Operating segment" are not applicable to the Company.
4. The figures for quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between audited figures in respect of full financial year and published year to date figures upto the third quarter or the year ended March 31, 2018 and March 31, 2017 respectlvely.
5. Reconciliation of Net Profit iS previously reported (referred to as 'Previous GAAP') and Ind AS for the previous quarter and year ended presented is as under: (For Table, kindly refer Corporate Announcements on www.bseindia.com).
6. Equity Reconciltation as at March 31, 2017: (For Table, kindly refer Corporate Announcements on www.bseindia.com).
7. Figures of the previous period have been regrouped and rearranged, wherever necessary, to confirm to the figures of the current period.