Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th September 2021
11/03/2021 | 02:32am EST
Statement of Assets and Liabilities as at 30th September 2021
Rs. In Lakhs
As at 30th
As at 31st March
As at 30th
As at 31st March
1) Non-current assets
(a)Property, plant and equipment
(c investment Property
(d| Goodwill on Consolidation
(e ) Other Intangible assets
(f) Right of use assets
(g) Financial Assets
Loan Considered good -Unsecured
(h ) Deferred tax assets (Net)
(i) Other non-currentassets
The above unauditedStandalone and Consolidated Financial Results for the quarter and six months ended 30thSeptember 2021 were reviewed by the Audit Committee and recommended to the Board which was thereafter taken on record bythe Board of Directors of the Companyat its meeting held on 2ndNovember 2021.
TheCompany's financial performance for the current quarter/period and corresponding quarter/period of previous year has been impacted by the Covid 19 related developments. Increasingly, pandemic related restrictions have been relaxed starting June 2021 following the second waveand as of date all our stores are operational. Selectively at the local level, certain restrictions continue to apply andconsequently impact trading performance of few stores. Nevertheless, the trajectory of revenues has continued to recover month to month post reopening which resultedin improvement in overall performance for the quarter ended on 30thSeptember 2021.
Given the contractual position across our portfolio of stores, we have recognised inthe standalone profit and loss statement (as part of other income as required by applicable accounting standards) for the quarter and period ended 30thSeptember 2021 an amount aggregating to Rs. 1182 Lakhs & Rs. 4682 Lakhs respectively (for the quarter and period ended 30^ September 2020 Rs. 1865 Lakhs & Rs. 6140 Lakhs respectively), relating to waiver/reduction of rent
7. a) The exceptional item inthe standalone financial results for the quarter and period ended 30thSeptember 2021 relates to impairment of InvestmentinCommonwealth Developers Limited. For the year ended on 31*t March 2021 it was relating toimpairment of investmentsinTrent Global Holdings Limited and Commonwealth Developers Limited (wholly owned subsidiaries of the Company).
The exceptional item in the Consolidated financial results for period ended 30^ September 2021 isconsequentto provisioning relating to a proposed redevelopment/ restructuring of aproperty owned by awholly owned subsidiary of the Company. For the year ended on31st March 2021 it was relating to the impairment of goodwill that arose following acquisition of Commonwealth Developers Limited.
The main business of theCompany and its group entities is retailing / trading of merchandise.All other activities of the Company and the group are incidental to the main business. Accordingly, there are no separate reportable segments.
The Codeon Social Security, 2020 ('Code') relating to employee benefits during employment and post- employment benefits received Presidential assentinSeptember 2020. The Code has been published in the Gazette of India.
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