GTL Infra September quarter net loss Rs 16 crore

Telecom equipment manufacturer GTL Infrastructure said its net loss has narrowed to Rs 16 crore during the July-September quarter this fiscal.
The company suffered net loss of Rs 37 crore in the same quarter previous fiscal, GTL Infrastructure said in a filing at the Bombay Stock Exchange.
Its total income rose to Rs 123 crore in the quarter ended September 30. In the same period last year, its total income stood at nearly Rs 94 crore.
In another filing at the BSE, the board of the company has approved to raise funds by issuing debentures or shares and has given the in-principle approval to merge its subsidiary Chennai Network Infrastructure Ltd with itself.
The company has to seek approval from shareholders to raise the funds and for the merger. "Necessary steps are being taken to finalise the merger scheme," the filing added.