Brightcom Group postpones declaration of Q24 results, shares timeline for reversal of suspension

Brightcom Group, whose shares are currently closed to trading, has postponed the announcement of its financial results for the fourth quarter of fiscal 2024.

Brightcom Group said in its weekly updates published on Sunday evening that it will announce its quarterly results on Wednesday, November 20, 2024. In the previous weekly update, it was stated that the board meeting where the quarterly results will be announced will be held on Sunday, November. 17.

The investor earnings conference call will be held on Friday, November 22.

Brightcom Group’s 2023 financial year Annual General Meeting (AGM) dates remain the same as 21 November.

The company also plans to appoint Sreehari Suwarapu as associate partner and Bengaluru-based M/s AVRSK and Associates LLP as the statutory audit firm of the company. Both are proposed to be appointed at the upcoming General Assembly, according to the weekly update.

Brightcom Group said that all formalities and discussions with the National Stock Exchange (NSE) regarding cancellation of the trading suspension are in the process of being completed, while discussions with the Bombay Stock Exchange (BSE) are in the final stage.

Brightcom Group is hopeful that exchanges will issue a circular rescinding the trading suspension “well before” December 14, 2024.

Brightcom Group shares have been suspended from regular trading for five months, leaving more than 6.5 lakh small shareholders in a difficult situation. They trade only in the trade-for-trade segment and are classified in group ‘Z’ stocks where trading takes place only on the first trading day of the week.