GTL reports net loss of Rs 246.22 crore for quarter ended March 31, 2012

Telecom Lead India: GTL has reported a net loss of Rs
246.22 crore for the quarter ended March 31, 2012.


The company had reported a net profit of Rs 48.46 crore
in the same quarter last year.


Consolidated revenue from global operations declined 27
percent to Rs 565.63 crore for the quarter as compared to Rs 775.20 crore in
the corresponding quarter last year.


On a yearly basis, the revenue of the company for the
period ended March 31, 2012 (nine months) stood at Rs 1,866.94 crore as against
Rs 3,942.16 crore (15 months) last year.


The net loss for nine months stood at Rs 459.07 crore
while the company had reported a net profit of Rs 210.63 crore for the 15-month
period last year.


Financial year 2010-11 ended for the company on June 30,


The company’s total expenses amounted to Rs 566.69 crore
for the quarter as against Rs 649.21 crore in the same period last year.


Telecom infrastructure company GTL seeks approval to raise Rs
554 crore


Recently, GTL sought shareholders approval for issue of
securities worth over Rs 554 crore to its promoters as well as lenders as part
of corporate debt restructuring efforts. 

The issue of these securities would see the promoters pumping in around Rs 233
crore into GTL. The telecom infrastructure company is facing huge debts and the
latest move may assist it to come out of the present issues.


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