GTL Ltd Approved Allotment Of 149,074 Equity Shares- March 20, 2009

GTL Ltd has informed that the Nomination & Remuneration Committee of the Board of Directors of the Company at its meeting held on March 19, 2009, considered and approved allotment of 149,074 Equity Shares of Rs 10/- each for cash at a premium in terms of the ESOP Schemes, upon exercise of option for conversion of Warrants, as detailed below:

1. Particulars of Scheme : Employees Stock Option Scheme 2001
- Number of Equity Shares : 66383

2. Particulars of Scheme : Employees Stock Option Scheme 2002
- Number of Equity Shares : 15640

3. Particulars of Scheme : Employees Stock Option Scheme 2002 Subsidiary
- Number of Equity Shares : 49277

4. Particulars of Scheme : Employees Stock Option Scheme 2004
- Number of Equity Shares : 16524

5. Particulars of Scheme : Employees Stock Option Scheme 2004 Subsidiary
- Number of Equity Shares : 1250.

GTL Posts 72% Growth In Q4 Profit

Mumbai: Network services firm GTL Ltd has recorded a 72 per cent growth in net profit at Rs 48.89 crore for the fourth-quarter ended March 31 against Rs 28.39 crore reported in the year ago period.

Total income grew by 19.7 per cent at Rs 474.52 crore (Rs.396.4 crore). The city-based company – which operates in 35 countries – offers services that address the entire network life cycle requirements of telecom operators and equipment makers.

Full-year net up

The company’s net profit for financial year 2008 rose by 54 per cent to Rs 154.15 crore against Rs 100.38 crore for the financial year 2007. During the same period, revenues grew by 53 per cent to Rs 1,771.34 crore from Rs 1,156.28 crore in the previous year.

The company’s board has recommended a dividend of a dividend of Rs 3 per share, according to a company release.

GTL, which made a slew of acquisitions in the last financial year, is looking at accelerating its inorganic growth through further takeovers in the network planning and professional services space.

“Given the meltdown in the US, some fabulous companies will be available at a reasonable price,” said Manoj Tirodkar, Chairman and Managing Director.

The company is keen to increase its contribution from overseas geographies to 50 per cent from the current 20 per cent, said Tirodkar.

Keeping in line with its strategy of focusing on high margin segments such as network planning & design and network operations, the company has earmarked Rs 1,000 crore for overseas acquisitions.

GTL - Allotment Of Shares / Warrants Under ESOP

GTL Ltd has informed that the Nomination & Remuneration Committee of the Board of Directors of the Company at its meeting held on January 22, 2008, has considered and approved the following:

1. Allotment of 69,742 Equity Shares of Rs 10/- each for cash at a premium in terms of the ESOP Schemes, upon exercise of option for conversion of Warrants, as detailed below:

i. Employees Stock Option Scheme - 2001 - 22,165 equity shares

ii. Employees Stock Option Scheme - 2002 - 38,277 equity shares

iii. Employees Stock Option Scheme - 2002 Subsidiary - 9,300 equity shares

2. Allotment of 131,500 warrants to the employees of the Company under the various ESOP Schemes of the Company.