By

The markets regulator on Monday said it had changed the time period for listed companies to file quarterly and annual results, in order to streamline the disclosure of financial results.

Listed companies will now have to submit audited quarterly results within 45 days from the end of the relevant quarter, the Securities and Exchange Board of India (SEBI) said in a statement.

Currently, listed Indian companies submit unaudited results within 30 days from the quarter-end.

However, SEBI has reduced the period to submit audited annual financial results within 60 days from the end of the financial year, in place of 90 days currently.

The changes would encourage companies to submit audited results faster, a SEBI official, who declined to be named, said.

The regulator also said companies would have to report their asset-liability position along with their half-year results. Currently, companies disclose their balance sheet position only at the time of annual results.

The revised rules will be applicable with immediate effect.

Leave Your Comment(s)