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Tuesday, Jan 28, 2003

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GTL Q3 net falls to Rs 21.18 cr

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MUMBAI, Jan. 27

GTL Ltd has posted a net profit of Rs 21.18 crore for the third quarter ended December 31, 2002, against Rs 28.77 crore during the corresponding quarter last year.

The company recorded net sales of Rs 141.24 crore for the quarter, compared to Rs 137.03 crore in the corresponding period last year.

On a consolidated basis, the company's net profit stood at Rs 19.68 crore for the quarter ended December 31, 2002, compared to Rs 24.08 crore during the corresponding period in the previous year.

Net sales increased from Rs 138.91 crore in the third quarter ended December 2001, to Rs 156.76 crore in the corresponding quarter of 2002.

Also, according to a company release, the board of directors has considered and recommended the proposal for exploring various opportunities including alliances with some of the large organisations that are engaged in the business of supply chain in the information technology, and which represent global brands such as HP, Samsung, Cisco, Intel, Microsoft and IBM.

The board has constituted a committee of directors to define the scope of this proposal and to appoint appropriate agencies such as investment bankers, independent valuers and advisors to submit a report to the board for its consideration, the release said.

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