Business Daily from THE HINDU group of publications
Saturday, Apr 12, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Apr 12, 2008 ePaper | Mobile/PDA Version |
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Info-Tech
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Financial Performance Corporate Results - Software GTL posts 72% growth in Q4 profit Our Bureau Mumbai, April 11 Network services firm GTL Ltd has recorded a 72 per cent growth in net profit at Rs 48.89 crore for the fourth-quarter ended March 31 against Rs 28.39 crore reported in the year ago period. Total income grew by 19.7 per cent at Rs 474.52 crore (Rs.396.4 crore). The city-based company – which operates in 35 countries – offers services that address the entire network life cycle requirements of telecom operators and equipment makers. Full-year net upThe company’s net profit for financial year 2008 rose by 54 per cent to Rs 154.15 crore against Rs 100.38 crore for the financial year 2007. During the same period, revenues grew by 53 per cent to Rs 1,771.34 crore from Rs 1,156.28 crore in the previous year. The company’s board has recommended a dividend of a dividend of Rs 3 per share, according to a company release. GTL, which made a slew of acquisitions in the last financial year, is looking at accelerating its inorganic growth through further takeovers in the network planning and professional services space. “Given the meltdown in the US, some fabulous companies will be available at a reasonable price,” said Mr Manoj Tirodkar, Chairman and Managing Director. The company is keen to increase its contribution from overseas geographies to 50 per cent from the current 20 per cent, said Mr Tirodkar. Keeping in line with its strategy of focusing on high margin segments such as network planning & design and network operations, the company has earmarked Rs 1,000 crore for overseas acquisitions. More Stories on : Financial Performance | Software
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