Punjab Communications Limited has announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company reported a revenue of ₹534.56 lakhs for the quarter, with a net loss of ₹279.82 lakhs. The auditor’s report highlights several qualifications, including issues related to inventory valuation and accounting policies for provisions and expected credit loss.
Punjab Communications Announces Q2 FY27 Financial Results
Punjab Communications Limited has released its unaudited financial results for the quarter and half-year ended September 30, 2026. The Board of Directors considered and approved these results in their meeting held on November 13, 2026.
Financial Performance for Q2 FY27
The company reported total revenue from operations of ₹534.56 lakhs for the quarter ended September 30, 2026. This compares to ₹583.21 lakhs in the previous quarter (Q1 FY27) and ₹816.60 lakhs in the same quarter of the previous year (Q2 FY26). The total expenses for the quarter were ₹1,085.63 lakhs, resulting in a net loss for the period of ₹279.82 lakhs. The total comprehensive income for the quarter was also a loss of ₹312.92 lakhs.
Half-Yearly Performance (H1 FY27)
For the half-year ended September 30, 2026, the total revenue from operations stood at ₹1,117.77 lakhs. The net profit (loss) for this period was a marginal ₹6.78 lakhs. Total comprehensive income for the half-year was a loss of ₹13.65 lakhs.
Statement of Assets and Liabilities
As of September 30, 2026, the company’s total assets were valued at ₹8,814.22 lakhs, with total equity and liabilities also amounting to ₹8,814.22 lakhs. Key components include Share Capital of ₹1,204.80 lakhs and Other Equity of ₹1,881.08 lakhs.
Cash Flow Statement Highlights
The cash flow statement for the half-year ended September 30, 2026, shows a net cash outflow from operating activities of ₹448.68 lakhs. Cash flow from investing activities resulted in a net inflow of ₹481.88 lakhs, primarily due to interest/rental income. Net cash outflow from financing activities was minimal at ₹1.02 lakhs. The net change in cash and cash equivalents for the period was an increase of ₹32.18 lakhs.
Independent Auditor’s Limited Review Report
The Independent Auditor’s Limited Review Report on the unaudited standalone financial results for the quarter and half-year ended September 30, 2026, has been issued by R. Bansal & Co, Chartered Accountants. The report includes several qualifications:
- The cost of stock-in-trade includes purchases pertaining to previous financial years, leading to an overstated loss of INR 138.79 Lacs.
- Provisions for interest on bank guarantees have not been made.
- Inventory valuation is based on the ‘Last purchase rate’ instead of the FIFO method as per company policy and Ind AS 2.
- The cost of work in progress and finished sub-assemblies has been valued only at material cost, excluding conversion cost, violating Ind AS 2.
- A reduction in work-in-progress cost by Rs. 129.21 Lacs (material not in stock) lacks period-wise bifurcation.
- Reliance on internal staff for physical verification of assets and stock, with no independent third-party verification.
- Absence of an accounting policy to estimate Expected Credit Loss (ECL) for trade receivables and other financial assets.
Additionally, the report highlights that most trade receivables and trade payables are outstanding for more than three years, and a balance confirmation for other bank balances has not been obtained.
Source: BSE
