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India GTL sees FY07 revenue rise 42 p.c.

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CIOL Bureau
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MUMBAI: Indian networking services firm GTL Ltd. expects revenue to jump 42 percent to $225 million in the year to March 2007 as it sheds low margin businesses, a senior company official said on Monday.

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The company, which also has call centre operations, estimates its revenue for the year ending March 2006 at $158 million, Manoj Tirodkar, chairman and managing director of GTL told a news conference.

Tirodkar also said the company's net profit margin would improve to 12 percent over the next three years, from around 8 percent as it shifts focus to networking, from the low margin call centre operations.

Its efforts to cut expenses, which includes reduction in interest on its funds, would also boost the profit margin.

He also said that GTL has set aside 3 billion rupees for acquisitions in the U.S. and Europe to push growth, failing which it would distribute it as dividend.

Ahead of the announcement, GTL's shares closed up 5.7 percent at 147.55 rupees at the BSE in a firm market.

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