GTL Infrastructure has reported a 60.23 per cent increase in net loss from Rs 9.16 billion for the quarter ended September 2013 to Rs 14.68 billion for the corresponding quarter in 2014. The revenues increased marginally by 3.35 per cent from Rs 14.35 billion in July-September 2013 to Rs 14.83 billion in July-September 2014. Losses rose sharply mainly due to 35.95 per cent increase in expenditure from Rs 13.73 billion for the quarter ended September 2013 to Rs 18.68 billion for the corresponding quarter in 2014. The interest and finance cost also rose from Rs 8.98 billion to Rs 9.8 billion during the same period.
On the loan repayment front, the company has declared that it has not defaulted on repayment of debt. GTL Infrastructure and services company, GTL are together generating revenue of Rs 45 billion and have together repaid Rs 38 billion since they went in for corporate debt restructuring in 2011.
