In a enterprise replace for FY21 filed with inventory exchanges, newly listed Nazara Technologies stated that the corporate delivered unaudited consolidated revenue of Rs 454 crore in FY21 which is 84% progress over FY20 determine of Rs 247.5 crore. It additionally stated that EBITDA (earnings before curiosity, taxes, depreciation, and amortization) together with share of non-controlling curiosity for FY21 has witnessed 470% progress over FY20.
Similarly, Metropolis Healthcare stated that it has achieved a revenue progress of 40% year-on-year within the March 2021 quarter as in comparison with the March 2020 quarter.
Both Nazara and Metropolis are but to announce the board assembly dates for approval of outcomes.
“A company without filing unaudited or audited financials, providing a business update drawing comparison with audited revenues of last year is usually a surveillance concern for the regulator and stock exchanges,” stated Sumit Agarwal, founder and companion, Regstreet Law Advisors. “Any such disclosures are permissible as a fair market disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015 if one has apprehensions of leak of the information.”
Agarwal stated that to offer disclosure to a possible investor and masking it as a good market disclosure is frowned upon by the regulator.
In response to an e-mail question, a Metropolis spokesperson denied publishing ‘exact financial statement figures’ to the inventory change,”
“The information published is an endeavour to ensure that all investors have access to timely, adequate and updated information that would impact price discovery no sooner than credible and concrete information comes into being in order to make such information generally available.”
An e-mail question despatched to Nazara Technologies didn’t elicit any response.
Nitin A Khandkarr, a senior wealth supervisor with a household workplace stated listed firms ought to publish enterprise updates together with quarterly outcomes solely, and not forward of the latter.
“Not every company which publishes a business update ahead of the quarterly results might be doing it with an ulterior motive, but sharing only a sketch of the financial performance, ahead of publishing quarterly results is not advisable,” he stated.