Brightcom Group declares Q2 FY25 results but no clarity on suspension revocation yet – CNBC TV18

Brightcom Group, whose shares are currently suspended for trading due to non-compliance with NSE circulars, reported its September quarter results on Thursday, November 12.

Consolidated revenue for the quarter increased by 10.2% compared to the June quarter to ₹1,302.78 crore. Consolidated net profit for the quarter also increased by close to 17% from the June quarter to ₹187 crore.

However, the company has not shared any timeline as to when will the trading suspension of its shares on the BSE and NSE will be revoked.

In an earlier weekly update, the Brightcom Group had mentioned that it is confident of its trading suspensions being revoked “well before” December 14, 2024.

“The revocation process is progressing as planned and the necessary applications are already in place at both exchanges. We are confident of meeting all compliance requirements within the stipulated time frame and ensuring that the suspension does not become permanent,” the Brightcom Group had said over the weekend.

Brightcom Group shares have been suspended for regular trading for six months now, leaving over 6.5 lakh small shareholders in the lurch. They only trade in the trade-for-trade segment and are categorized in the ‘Z’ group of stocks, where trading takes place only on the first trading day of the week.

In a separate exchange filing, Brightcom Group said that market regulator SEBI had fined the company ₹8 lakh in an adjudication order over delayed submission for financial results for the quarter ending September and December 2023, failure to disclose resignation letters, delay in disclosure of resignation of directors among other factors.