GTL rallies as Q3 loss narrows

Q3 consolidated operating profit has surged over three-fold to Rs 83.24 crore from Rs 23.89 crore in a year ago quarter.

GTL Limited has rallied 11% to Rs 25.60 after the telecom network services firm said its net loss has narrowed to Rs 81.07 crore for the quarter ended December 31, 2012 (Q3). The company had reported a net loss of Rs 102.98 crore in the corresponding quarter last year.

The company’s consolidated operating profit has surged over three-fold to Rs 83.24 crore in Q3FY13 against Rs 23.89 crore in a year ago quarter.

“Consolidated revenue from operations for the company rose by 12% to Rs 716 crore for the reported quarter as compared to Rs 639 crore in the same period last year,” GTL said in a statement.

The stock opened at Rs 23.25 and hit a high of Rs 25.90 on the NSE. A combined 861,361 shares have changed hands on the counter in morning deals on both the exchanges.