The Hindu Business Line : GTL Q3 net down 26.7%

GTL Ltd has reported a 26.7-per-cent drop in net profit for the third quarter ended December 31, 2004, despite a rise in total income for the quarter.

The company's net profit for the quarter amounted to Rs 19.3 crore against Rs 26.32 crore for the corresponding quarter of the previous year.

This is largely due to reversal of depreciation of impaired assets, which added Rs 11.32 crore to the figures of the previous corresponding quarter.

Total income rose 18.9 per cent, and amounted to Rs 132.9 crore against Rs 111.7 crore.

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