One 97 Communications Limited — Others, 20-01-2025: Appointment

The Board of Directors of One 97 Communications Limited has announced a board meeting to approve the financial results for the quarter and nine months ended December 31, 2024. The results indicate a total income of INR 2,016.5 crore with a loss of INR 211.85 crore. Additionally, the board has appointed Shri Bimal Julka as a Non-Executive Independent Director for a term of five years, subject to shareholder approval. The Default Loss Guarantee limit with SMFG India Credit Co. Ltd has been increased from INR 225 crore to INR 350 crore to support merchant loans, reflecting a strategy to enhance lending capabilities. Furthermore, the company is setting up subsidiaries in the UAE, KSA, and Singapore, signaling a strategic push for international expansion.

Investors may view these developments positively, noting the appointment of experienced board members and the international growth trajectory as potential opportunities, despite current losses.