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Network services company GTL reported a steep consolidated net loss at Rs 203.95 crore in the first quarter ended June 2012. It reported a net profit of Rs 12.93 crore in the year-ago period.
Revenues were down 25 per cent at Rs 615.98 crore for the quarter year-on-year (Rs 820.62 crore). Revenue from the network services segment in the quarter almost halved over Q1FY12. However, there was an increase in revenues from the power management segment.
During the quarter, Compulsory Convertible Debentures of Rs 187.84 crore and Rs 45.15 crore were issued to CDR lenders and promoters, respectively, said GTL.
The stock closed at Rs 31.95, up 0.16 per cent from its previous close on the BSE.
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