GTL registers 60 percent increase in net profit

By siliconindia   |   Thursday, 23 July 2009, 18:33 IST   |    1 Comments
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GTL registers 60 percent increase in net profit
Bangalore: GTL, a Navi-Mumbai based network services company, has recorded 60 percent growth on year-on-year rise in net profit at 53.26 crore, against 33.25 crore generated previous year for the quarter ended June 2009. The consolidated revenue from the global operations was registered at 490.71 crore in the quarter ended June 30, recording a year to year growth of 17 percent as the revenues last year in the same quarter were 418.84 crore. The company is now waiting for the completion of the 3G-spectrum auction which could lead to a significant jump in new orders. The company's share price has been trading on the maximum buy-back approved by the shareholders since May 2009. The Board of Directors of the company has cancelled their recommendation of buy back of the shares at 260, referring to strong performance of the company in the market. The company's shares closed on 299.05 on Wednesday. The company also added 387 employees, as the headcount has increased to 5,971.