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GTL Infrastructure has registered a net loss of Rs 0.85 billion for the quarter ended June 30, 2012 as compared to a net loss of 0.83 for the quarter ended June 30, 2011.
The company?s net income has declined from Rs 1.40 billion in the quarter ended June 30, 2011to Rs 1.39 billion for the corresponding period for 2012.
The company has stated that for the quarter ending June 30, 2012, as part of the corporate debt restructuring, it issued shares worth Rs 0.86 billion to its lenders by converting debentures that were issued to the lenders earlier.
As of June 30, 2012, GTL Infrastructure has $228.3 million foreign currency convertible bonds outstanding that can be converted into equity shares of the company by November 22, 2012 or redeemed at a premium of 40.40 per cent of the principal amount. It has also provided for a pro-rata premium of Rs 4.75 billion in its books of accounts for the quarter ended June 30, 2012.
