Infomedia Press : Standalone (Unaudited) Financial Results for the Quarter and Nine Months Ended December 31, 2021

Independent Auditor's Review Report on Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To,

The Board of Directors of

INFOMEDIA PRESS LIMITED

1. We have reviewed the accompanying Statement of Unaudited Financial Results of INFOMEDIA PRESS LIMITED ("the Company") for the quarter & nine month ended 31st December 2021, attached herewith, being submitted by the Company pursuant to the requirement of regulation 33 of SEBI (Listing Obligations and Disclosures Requirements, 2015 ("the Regulation"), as amended.
2. This statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021, India. Tel : [phone] • Fax :[phone]

URL : www.cas.ind.in

Branch: Bengaluru

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
2. We draw attention to the note b to the result which indicates that the Company had discontinued its operations in the previous years and has incurred a net loss of Rs. 82.41 Lakh and Rs. 245.87 Lakh during the quarter & nine months ended 31st December, 2021, as of that date the Company's accumulated losses amount to Rs. 9,804.52 Lakh resulting in negative net worth of the Company. The management of the Company is evaluating various options, including starting a new line of business. These conditions, along with other matter as set forth in the aforesaid note, indicate the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. Network18 Media & Investments Limited, the Holding Company, has given a support letter to extend, for the foreseeable future, any financial support which may be required by the Company. In lieu of the support letter from the Holding Company, the management has assessed that the Company continues to be going concern. Our conclusion is not modified in respect of the said matter.
   For Chaturvedi & Shah LLP Chartered Accountants
   Registration Number: 101720W/W100355

Vijay Napawaliya

Partner

Membership Number: 109859

UDIN: 22109859AAAAAD3716

Place: Mumbai

Date: 14th January, 2022

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