NEW DELHI, JUNE 24 (IANS): In a major relief for listed companies, the Securities and Exchange Board of India (SEBI) has further extended the deadline for filing the fourth quarter earnings of the financial year 2019-20 till July 31.
The relief comes amid the coronavirus pandemic. In March, the regulator had extended the deadline till June-end.
In general, companies have to report their earnings within one month of a quarter ending and if results get delayed, the companies have to inform the exchanges, as per the norms.
In a circular issued on Wednesday, SEBI said that it has received representations from listed entities, chartered accountant firms, and industry bodies to seek further extension in time for preparation, finalisation and submission of financial results for listed entities for the quarter, half year or financial year ending March 2020.
It has also extended the timeline for the Q4 and FY20 financial results of listed non-convertible debentures and commercial papers by another month.
"It has been decided to further extend the timeline for submission of financial results by a month, to July 31, 2020, for the quarter and the year ending March 31, 2020," it said.
The stakeholders sought an extension due to various reasons, including the continuing lockdown, subsidiaries and associates situated in containment zones that made the audit process challenging, and other operational challenges due to the COVID-19 pandemic.
The regulator advised stock exchanges to bring the provisions of this circular to the notice of all listed entities and also disseminate the information on their websites.