Telecom equipment manufacturer GTL on Thursday reported a 18.11 per cent decline in its consolidated net profit at Rs 32.14 crore for the third quarter ended December 31, 2008.
Telecom equipment manufacturer GTL on Thursday reported a 18.11 per cent decline in its consolidated net profit at Rs 32.14 crore for the third quarter ended December 31, 2008.
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The firm had a net profit of Rs 39.25 crore in the third quarter of FY'08, GTL Ltd said in a filing to the Bombay Stock Exchange.
The total income rose nearly 4 per cent to Rs 467.81 crore during the quarter under review, from Rs 450.31 crore in the year-ago period.
On a standalone basis GTL reported a 31 per cent fall in its net profit at Rs 22.28 crore. However, the standalone total income stood at Rs 341.83 crore, against Rs 362.23 crore in the corresponding period a year-ago, it added.
Further, the board has approved a buyback of shares to the tune of Rs 225 crore. The maximum buyback price has been fixed at Rs 260 per shares.
Under the share buyback programme the company would buyback equity shares up to 25 per cent of the net worth of the company as on March 31, 2008 and up to 25 per cent of the paid-up equity capital subject to requisite approval Shares of GTL closed at Rs 220.85, up 0.39 per cent on the BSE.
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