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GTL Limited posts 217.4 per cent rise in net loss for the quarter ended December 2015

February 10, 2016
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GTL Limited reported a 217.4 per cent increase in net loss which increased from Rs 4.25 billion during quarter ended December 2014 to Rs 13.49 billion during the corresponding quarter in 2015. This was on account of a 35.28 per cent fall in total revenue which fell from Rs 4.62 billion to Rs 2.99 billion during the same period. The company also incurred costs for exceptional items worth Rs 12.17 billion during quarter ended December 2015. This was on account of diminution in value of its non-current investments and provision against long-term advances recoverable.

Meanwhile, the total expenses decreased from Rs 5.66 billion during quarter ended December 2014 t Rs 2.99 billion during quarter ended December 2015. Further, finance costs rose slightly from Rs 1.27 billion to Rs 1.34 billion during the same period.

 
 
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