GTL net up 10% y-o-y

EBIDTA for the quarter ended June 30, 2008 was Rs 65.08 crores as against Rs 56.63 crore (Post adjustment for IT services Operating profit) for the corresponding quarter in the previous year recording Y-o-Y growth of 15 per cent.

In July 2007 GTL, providing network services, sold off its Enterprise Network and Managed Services business to Orange Business Services, the business communication arm of France Telecom. This  business had generated an income of Rs 30.81 crore in the corresponding quarter in the last financial year, which was duly accounted for in the books, said the company statement. The income from Network Services business was Rs 376.50 crore in the corresponding quarter last financial year.  

Depreciation charged for the quarter stood at Rs 11.61 crore as against Rs 11.44 crore in the corresponding quarter of last financial year. The company accounted for a loss of Rs 5.45 crores as against a loss of Rs 8.22 crore in the corresponding quarter of the previous year under Other Income.

The total manpower of the company stood at 5,585 as on June 30, 2008, as against 3,503 in the corresponding period ended June 30, 2007. The increase in the manpower was on account of acquisitions made during the financial year and increase in scale of operations.