GTL Limited reports 88.7 per cent increase in its net losses for quarter ended March 2015

GTL Limited has reported an 88.7 per cent increase in its net losses, which grew from Rs 901.5 million for the quarter ended March 2014 to Rs 1701.7 million for the corresponding quarter in 2015. This was on account of a decline in the total revenues for the the company, from Rs 5,437 million to Rs 3,538.5 million during the same period. Meanwhile, the total expenditure incurred by the company declined from Rs 5,151.1 million in March 2014 to Rs 3,293.3 million in March 2015.

The company?s network services segment continued to be affected by the cancellations of 2G licences, Aircel group?s suspension of tenancy commitments, and suspension of Bharat Sanchar Nigam Limited?s expansion plans.