GTL dips on weak Q4 earnings

Repoted a net loss of Rs 246 crore in Q4FY12 agaisn profit of Rs 53 crore in a year ago quarter.

GTL Limited is trading lower by 3% at Rs 32.50 after reporting a net loss of Rs 246 crore for the quarter ended March 2012, due to higher interest on loans. The company had a net profit of Rs 53 crore in a year ago quarter.

Revenues, too, declined 27% at Rs 566 crore on year-on-year basis. The company’s finance charges have gone up to Rs 202 crore against Rs 109 crore last year. 

The stock opened at Rs 32.75 and hit a low of Rs 32.30 on the National Stock Exchange. A combined 240,263 shares have changed hands on the counter so far on both the exchanges.