GTL Infrastructure slips into red on high interest

The company posted a loss of Rs 3.19 crore in the quarter ended June 30 as compared to a net profit of Rs 10.07 crore posted in the year-ago period.        

"Higher interest rates have hurt our earnings in this quarter. That apart, the company has been investing heavily in various infrastructure projects, which has also affected the net profit growth," a company spokesperson said here today.        

The company has more than doubled the number of towers to 6,360 in Q1 FY 09 from about 3,000 in the year-ago period, it said.        

Total income during the quarter under review rose to Rs 46.26 crore from Rs 18.94 crore in the same period last year.        

The company plans to roll out a pan-India network of 23,700 cell sites in the next 3-4 years across 22 circles and is currently carrying out business operations in 16 telecom circles, it said.        

The net sales for the quarter stood at Rs 45.76 crore, up from Rs 17.93 crore recorded in the year ago-period, the company said.