Shares of telecom tower firm GTL Infrastructure closed the day with over 4 per cent loss after the company's March quarter numbers failed to impress investors.
The stock dropped 4.35 per cent to end at Rs 2.20 on BSE. During the day, it plunged 4.78 per cent to Rs 2.19.
At NSE, shares of the company fell by 4.34 per cent to close at Rs 2.20.
GTL Infrastructure yesterday said its standalone net loss has narrowed to Rs 92.75 crore in the March quarter.
It had reported a net loss of Rs 100.2 crore for the same period of 2014-15 fiscal, GTL Infrastructure had said in a BSE filing.
Total income of the company stood at Rs 155.9 crore for January-March quarter of 2015-16 compared with Rs 155.5 crore in the previous fiscal.
"A severe dip in the market outlook followed with slower 3G/4G rollouts and a general stagnation of economy resulted in our customers (telcos) reviewing their respective business plans, curtailing their capex spend.
"Some others planned to exit non-viable business circles. This, in turn, affected planned growth and cash flows of the company," it said.
