Telecom equipment manufacturer GTL Infrastructure today said its net loss has narrowed to Rs 16 crore during the July-September quarter this fiscal.
The company had a net loss of Rs 37 crore in the same quarter previous fiscal, GTL Infrastructure said in a filing to the Bombay Stock Exchange. Its total income rose to Rs 123 crore in the quarter ended September 30
In the same period last year its total income stood at Rs 93.5 crore.
In another filing on the BSE, the board of the company has approved to raise funds by issue of debentures or shares and gave the in-principle approval of merger of its subsidiary Chennai Network Infrastructure Ltd with itself.
The company has to seek approval from the shareholders to raise the funds and for the merger "neccessary steps are being taken to finalise the merger scheme," the filing added.
Shares of GTL Infrastructure today closed at Rs 44.50 on the BSE, down 0.22 per cent from the previous close.
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