Unaudited financial results for the Quarter ended June 30, 2008

Walchand PeopleFirst Limited
Formerly Walchand Capital Limited
Regd Off: 5, Construction House, Walchand Hirachand Marg,
Ballard Estate, Mumbai - 400 001
UNAUDITED  FINANCIAL RESULTS FOR THE QUARTER  ENDED JUNE 30, 2008.
(Rs. In Lacs)
  PARTICULARS WPFL    
Quarter  Ended Year Ended Consolidated Consolidated
    June 30 March 31 30-Jun March 31
  Unaudited Audited Unaudited Audited
  2008 2007 2008 2008 2008
1 Training  Income                     -                 167.31               497.21                  267.01             992.21
2 Investment Income                 1.80                 29.86               133.64                      1.80             133.64
3 Other Income               15.26                 16.59                 88.86                    23.80               91.68
             
             
4 Total (1+2+3)               17.06               213.76               719.71                  292.61          1,217.53
             
5 Total Expenditure          
  a)  Staff Cost               12.67               116.44               398.40                  207.52             716.60
b)  Training expenses                     -                   52.41                 92.27                    21.54             167.72
c)  Other Expenditure               10.32                 56.18               163.33                    56.07             311.01
d)  Advertisement & Sales Promotion Expenses                 0.12                 16.19                 44.28                    19.74             151.63
e) Rental Expenses                 0.06                   25.05                    50.91             114.16
f)  Royalty                     -                   21.73                 65.28                    42.89             140.58
g)  Bad Debts/ Doubtful Assets Written Off                     -                         -                   12.50                          -                 12.50
h) Loss on sale of Investments                 0.56                   1.45                   5.63                      0.56                 5.63
  I) Depreciation , Amortisation & Impairment                 4.92                 12.07                 37.31                    15.36               54.89
  j) Total               28.65               276.47               844.05                  414.59          1,674.72
6 Interest                 0.20                   0.40                   1.09                      1.98                 1.35
  Total  (4+5)               57.49               553.34            1,689.18                  831.15          3,350.80
           
6 Profit / (Loss) after Interest but              (40.43)             (339.58)              (969.47)                (588.90)         (2,133.25)
  before Depreciation and Taxation          
             
7 (LOSS)/ PROFIT BEFORE EXCEPTIONAL ITEM & TAX              (45.34)             (351.64)           (1,006.78)                (604.26)         (2,188.14)
7 Exceptional Item (Profit on Sale of Training Business )                     -                         -                 906.44                          -    
8 Profit/(Loss) from ordinary activities before Tax  (4) -(5+6-7)              (11.79)               (63.11)               781.01                (123.96)            (458.54)
             
9 Provision for Taxation :          
  -  Fringe  Benefit Tax                (0.25)                 (2.10)                  (8.00)                    (1.25)                (9.00)
-  Current Tax                     -                         -                  (81.45)                          -                (81.45)
-  Wealth  Tax                (0.78)                 (0.78)                  (3.13)                    (0.78)                (3.13)
-  Provision for Fringe Benefit Tax of earlier years                     -                         -                         -                            -                       -  
-  Deferred Tax                 3.29                 25.40                (53.04)                      3.29              (53.04)
10 Net Profit/(Loss) for the period (8-9)                (9.53)               (40.59)               635.39                (122.70)            (605.16)
11 Paid-up Equity Share Capital             284.89               284.89               284.89                  284.89             284.89
  (Nominal Value of Rs.100/- each)          
12 Reserves excluding revaluation reserve                         -              1,956.76               716.22
13 Basic and Diluted EPS                (3.35)               (14.25)               223.03                  (43.07)            (212.42)
  (not to be annualized) (Rs.)
14 Aggregate of Public Shareholding          
  (a) Number of Shares           133,952             133,790             133,952                133,952           133,952
  (b) Percentage of Shareholding 47.02% 46.96% 47.02% 47.02% 47.02%
NOTES:
1 The above results have been reviewed by the Audit Committee and were taken on record by the Board of Directors at its meeting held on July 31' 2008
2 The statutory auditors of the Company have carried out Limited Review of the above Financial Results of the Company for the Quarter ended June 30, 2008.
3 The financial statements have been prepared in accordance with the Accounting Standard prescribed by the Institute of Chartered Accountants of India.
4 The consolidated financial statements have been prepared on a line to line consolidation of Balance Sheet, Statement of Profit and loss  of Walchand PeopleFirst Ltd and Walchand TalentFitrst Ltd, Mumbai. All inter-company transactions in the consolidation process has been eliminated. The consolidated financial statements have been prepared using uniform accounting policies.
5 Since Walchand TalentFirst Ltd. is a 100% subsidary of Walchand Peoplefirst Ltd,  there is no Minority Interest.
6 In accordance  with Accounting Standard 22 " Accounting for Taxes on Income", Walchand TalentFirst Ltd has not recognised in its financial statements the deferred Tax Asset amounting to Rs 120.76, Lacs for the want of virtual certainty of realisation of such assets.
7 No Investor complaints were pending at opening and at the end of the quarter.
Complaints received during the quarter - Nil
8 Investment income includes dividend, interest and profit realised on sale of investments.
9 For comparable period June 2007, there was no subsidiary company at that time and hence no consolidated figures have been shown for that period.
10 Previous year's figures have been regrouped / rearranged wherever necessary.
Place: Mumbai,
July 31, 2008
SEGMENT - WISE REVENUE RESULTS AND CAPITAL EMPLOYED
(Rs. In Lacs)
    WPFL    
  PARTICULARS Three Months Ended Year Ended Consolidated Consolidated
    June 30 June 30 March 31 June 30 March 31
    Unaudited Unaudited Audited Unaudited Audited
    2008 2007 2008 2008 2008
1 Segment Revenue:          
  a) Investment activities 17.06 46.45 221.84 17.06 221.84
  b) Training Income                     -   167.31 497.87 275.55 995.69
  c) Profit from slump sale                     -                         -   906.44                          -                       -  
  d) Unallocated                     -                         -                         -      
  Net Income from Operations 17.06 213.76 1626.15 292.61 1217.53
2 Segment Results (PBIT)          
  a) Investment activities              (11.59) 22.40 30.32 (11.59) 30.32
  b) Training Income                     -   (70.11) (154.66) (110.40) (487.51)
  c) Profit from slump sale                     -                         -   906.44                          -    
  Total              (11.59)               (47.71)               782.10                (121.98)            (457.19)
  Less : i)  Interest Expenses                (0.20)                 (0.40)                  (1.09)                    (1.98)                (1.35)
             ii) Loss on Sales of Investments                     -                         -                         -                            -                       -  
             ii) Unallocable Expenses (net of unallocable income)                     -                 (15.00)                       -                            -                       -  
             
  Total Profit Before Taxation (11.79) (63.11) 781.01 (123.96) (458.54)
3 Capital Employed (Segment Assets-Segment Liabilities)          
             
  a) Investment activities          2,054.21 957.69 2312.56 580.82 923.08
  b) Training Income                     -   139.10                       -   119.66 148.93
  c) Unallocated             177.92 217.23                (70.91) 177.92              (70.91)
  Total          2,232.13            1,314.02            2,241.65                  878.40          1,001.10