GTL Limited (GTL) today announced audited results of the Company (including its international subsidiaries on consolidated basis) for the quarter ended June 30, 2008. The Company continues to focus on Network Services business and provides Network Design & Planning, Network Deployment, Network Operations & Maintenance, Infrastructure Management, Application Management & Professional Services to Telecom Operators & Original Equipment Manufacturers (OEMs) in over 35 countries.

In July 2007, GTL sold off its Enterprise Network and Managed Services business to Orange Business Services, the business communication arm of France Telecom. This business had generated an income of Rs. 30.81 Crores in the corresponding quarter in the last financial year, which was duly accounted for in the books. The income from Network Services business was Rs. 376.50 Crores in the corresponding quarter last financial year.

The gross profit for the quarter was Rs. 105.76 Crores (25.17% of revenue) as against Rs.89.96 Crores (23.87% of revenue) during the corresponding quarter in the previous year, post adjustment for IT services gross profit.

The Selling & Marketing Expenses decreased to 2.77% of revenue (Rs. 11.64 Crores) in the current quarter from 3.22% of revenue (Rs. 12.13 Crores) in the corresponding period for the previous year. Administration Expenses increased to 6.95% of revenue (Rs. 29.05 Crores) as against 5.63% of revenue (Rs. 21.20 Crores) in the corresponding period for the previous year on account of expansion in international operations.

Depreciation charged for the quarter stood at Rs. 11.61 Crores as against Rs 11.44 Crores in the corresponding quarter of last financial year. The Company accounted for a loss of Rs. 5.45 Crores as against a loss of Rs. 8.22 Crores in the corresponding quarter of the previous year under Other Income.

Business Partnership

A leading OEM has entered into a “Global Supplier Cooperation Agreement” with GTL for partnering on Network services globally. The benefits for GTL are

a. GTL will be a partner for all major bids world over

b. GTL’s engineers will be trained on various technology platforms

The agreement is first of its kind, by this OEM with any Network services provider.

Awards & Recognition

Huawei award

IGTL Solutions Nigeria, a wholly owned subsidiary of GTL Ltd, was awarded the ‘Outstanding Strategic Partner of the year’ by Huawei Technology Limited (West Africa).

TEMA award

GTL received ‘Excellence in Infrastructure for Connecting people with Disability” Award from Telecom Equipment Manufacturer’s Association, India (TEMA).

Top ‘Telecom Turnkey services provider’ from Voice & Data

GTL has been ranked as the no. 1 ‘Telecom Turnkey services provider in India’ in the Voice & Data 100, 2008 rankings.

Manpower at GTL

The total manpower of the Company stood at 5,585 as on June 30, 2008, as against 3,503 in the corresponding period ended June 30, 2007. The increase in the manpower was on account of acquisitions made during the financial year and increase in scale of operations.

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