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3i Infotech 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 standalone financial results of the Company 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 its meeting held on January 18, 2019.

2. As required under Ind AS 109, there has been a net additional income/expense (notional) on financial instruments; viz. Preference shares, FCCBs, interest free debts and Investment in Preference Shares, which has been shown as a separate line item; viz. (Item no. VIII) in the Financial Results.

3. The Company has written back Rs. 125.27 crores loan taken from one of its Indian subsidiary and the same has been accounted in Other Income.

4. The Limited Review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 has been carried out by the Statutory Auditors.

5. During the current quarter, the Company has allotted 733,565 equity shares at a price of Rs. 12.5 per share aggregating to Rs. 91.70 lakhs against conversion of Foreign Currency Convertible Bonds (FCCBs).

6. Effective April 1, 2018, the Company has adopted Ind AS 115. The comparative information is not restated in the standalone financials results. The adoption of this standard does not have any material impact to the standalone financial results of the Company.

7. Figures for the previous period have been regrouped/rearranged wherever necessary to conform to the presentation of the current period.

Padmanabhan Iyer
Managing Director and Global CEO