Videocon Industries Submits Un-Audited Financial Results for Nine Months Ended December 31, 2024
Videocon Industries Limited has released its un-audited financial results for the quarter and nine months ended December 31, 2024, along with a Limited Review Report. The results were signed by the Resolution Professional on February 10, 2026. The submission comes as part of the ongoing Consolidated Corporate Insolvency Resolution Process (CIRP) involving the Company and twelve other Videocon group companies.The company, which is undergoing CIRP under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), has noted that the submission of these financial results was inadvertently delayed. The delay was attributed to several constraints including limited manpower, operational challenges arising from the ongoing CIRP, resignation of key accounting personnel, lack of pre-CIRP records, and issues regarding cooperation from promoters and erstwhile management.
The company confirmed that trading in its securities has been suspended on both BSE and NSE since June 16, 2021, stating that this status did not cause prejudice to investors. The Resolution Professional (RP), Abhijit Guhathakurta, is managing the affairs of the Videocon Group Entities as per the provisions of the Code.
The Un-Audited Financial Results reflect significant losses across various periods for the reporting entities. For the nine months ended December 31, 2024, the company recorded a Total Loss before tax (V) of 71,401.31 Million and Total Comprehensive Income (IX+X) of (71,455.32) Million.
Key financial indicators for the nine months ended December 31, 2024:
| Financial Metric | Nine Months Ended Dec 31, 2024 (Million) | Nine Months Ended Dec 31, 2023 (Million) |
|---|---|---|
| Total Income (before expenses) | 5,010.50 | 4,854.36 |
| Total Expenses | 76,411.81 | 65,869.08 |
| Loss before tax | (71,401.31) | (61,014.72) |
The company also provided segment-wise details for the quarter ended December 31, 2024. Revenue from Oil and Natural Gas amounted to 1,480.99 Million in that quarter, while the loss before finance cost and tax for this segment stood at (874.94) Million.
The detailed financial figures for the relevant periods are presented below:
| Period | Q3 Ended Dec 31, 2024 (Million) | Q3 Ended Sep 30, 2024 (Million) | Q3 Ended Dec 31, 2023 (Million) | 9M Ended Dec 31, 2024 (Million) | 9M Ended Dec 31, 2023 (Million) | FY Ended Mar 31, 2024 (Million) |
|---|---|---|---|---|---|---|
| Total Income | 1,628.17 | 1,721.17 | 1,581.33 | 5,010.50 | 4,854.36 | 6,713.33 |
| Cost of materials consumed | 33.96 | 23.92 | (5.55) | 90.83 | 52.58 | 68.17 |
| Production and exploration expense-Oil&Gas | 1,079.11 | 1,173.93 | 1,091.76 | 3,208.47 | 3,044.65 | 5,087.30 |
| Finance costs | 24,023.62 | 23,205.93 | 20,622.01 | 68,870.13 | 58,977.22 | 80,060.87 |
| Total Expenses | 26,526.73 | 25,825.58 | 22,989.29 | 76,411.81 | 65,869.08 | 90,275.64 |
| Loss for the period (Loss before tax) | (24,898.56) | (24,104.41) | (21,407.96) | (71,401.31) | (61,014.72) | (83,562.31) |
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