New Delhi: Telecom tower firm GTL Infrastructure on Thursday reported widening of net loss at Rs 167.83 crore for the quarter ended September 30, 2015.
The company had reported a net loss of Rs 146.84 crore for the corresponding period last fiscal, GTL Infrastructure said in a BSE filing.
The total income of the company also declined to Rs 156.81 crore for the reported period as compared to Rs 148.33 crore last year.
GTL Infrastructure said during the last few years, the telecom industry has been adversely affected by the general economic slowdown and various other factors such as slower growth of 3G technology, failure of spectrum auctions and inflationary costs of power and fuel.
"This has resulted into substantial erosion of the company's net worth and the company has incurred cash losses," the filing said.
However, based on the positive outcome of the last auction, management expects exponential growth in 3G, 4G and LTE which is likely to generate incremental cash flows to the company.
"Based on the Master services agreement executed for passive infrastructure sharing with Reliance Jio, the company has already commenced roll outs for it," it added.
Further, the filing said the company continues to take various measures such as cost optimisation, improving operating efficiency, renegotiation of contracts with customers to improve its operating results and cash flows.
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