Omega Interactive Technologies 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 financial result for the quarter and year ended 31st March, 2019 have been reviewed by the Audit Committee and subsequently approved by the Board of Directors In their respective meeting held on 29th May, 2019. The statutory auditors have expressed an unqualified opinion.
2. Figures for the quarter ended 31st March, 2019 and corresponding quarter ended in the previous year as reported in these financial results are the balancing figures in respect of full financial year to date figure upto end of third quarter of the relevant financial year. Also the figures upto the end of third quarter of the relevant financial year had only been reviewed and not subject to Audit.
3. The Audited financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) (Amendment Rules), 2016.
4. The company is engaged in the business of software services including development of softwares and therefore there is only one reportable operating segment. Hence, disclosures required by Indian Accounting Standard - 108 'Operating Segment' are not applicable to the company.
5. Effective from April 1, 2018, the company has adopted Ind AS 115, 'Revenue from Contracts with customers'. The adoption of this standard did not have any impact on profits, retained earnings and earnings per share of the company.
6. The figures of previous period/ year have been regrouped/ rearranged wherever necessary/ practicable to conform to current period/year presentation.