GTL Limited announced the outcome of its Board of Directors meeting held on August 11, 2026. The meeting commenced at 11:30 Hours IST and concluded at 16:15 Hours IST. The Board considered and approved the Un-Audited Financial Results for the quarter ended June 30, 2026 (Q1 FY27).

Key Financial Figures (₹ in lakhs, except per share data)

The financial results are presented for the quarter ended June 30, 2026, with comparatives for the quarter ended March 31, 2026, quarter ended June 30, 2025, and the year ended March 31, 2026.

Income Statement Highlights:

  • Revenue from operations: ₹6,002.18 lakh (Q1 FY27) vs. ₹5,824.78 lakh (Q4 FY26) and ₹5,572.66 lakh (Q1 FY26)
  • Other Income: ₹33.33 lakh (Q1 FY27), primarily from non-exchange gain sources
  • Total Expenses: ₹7,247.63 lakh (Q1 FY27), including:
  • Employee benefits expenses: ₹2,464.25 lakh
  • Finance costs: ₹948.96 lakh
  • Depreciation and amortization: ₹101.81 lakh
  • Exchange Loss: ₹604.90 lakh
  • Other Expenses: ₹2,964.58 lakh
  • Profit/(Loss) before exceptional items and tax: (₹1,212.12) lakh loss
  • Exceptional items (net): ₹33,430.04 lakh gain (detailed in Note 8)
  • Profit before tax: ₹32,217.92 lakh
  • Tax expense: Nil for current tax, deferred tax, and prior period adjustments
  • Profit for the period (from continuing operations): ₹32,217.92 lakh
  • Total Comprehensive Income for the period: ₹32,226.65 lakh

Per Share Data (₹ per share, not annualized):

  • Earnings Per Share (EPS) from continuing operations - Before exceptional items: Basic (₹0.77), Diluted (₹0.77)
  • Earnings Per Share (EPS) from continuing operations - After exceptional items: Basic ₹20.48, Diluted ₹20.48
  • Paid-up equity share capital: ₹15,729.68 lakh (face value ₹10 per share)

Notes to Financial Results

1. The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors on August 11, 2026.

2. Results prepared in accordance with Indian Accounting Standards (Ind AS).

3. Statutory auditors conducted a limited review of the financial results.

4. Figures for quarter ended March 31, 2026 represent the difference between audited full-year figures and published nine-month figures ended December 31, 2025.

5. The company is engaged only in "Network Services" business with no separate reportable segments.

6. The company's net worth has been eroded over past years, and current liabilities exceed current assets. Management believes the company can revive its business upon completion of ongoing settlement with lenders, based on their in-principle approvals. Accordingly, financial results are prepared on a going concern basis.

7. Based on ongoing OTS with lenders, the company has settled/is settling their dues. Consequently, no further interest is payable on borrowings and hence not provided for.

8. Exceptional items (net) of ₹33,430.04 lakh include:

  • ₹31,585.04 lakh toward accounting impact pursuant to One Time Settlement during the quarter
  • ₹1,845.00 lakh recognized as one-time income from settlement of disputed dues

9. Previous quarter/year figures have been regrouped/rearranged/recast where necessary.

Auditor's Limited Review Report

GDA & Associates, Chartered Accountants (Firm Regn. No.: 135780W), issued a limited review report with modified conclusion:

Basis for Modified Conclusion:

  • The company has neither paid nor provided interest on borrowings from unsettled lenders during the quarter, for reasons stated in Note 7.
  • Had such interest been recognized, finance cost and interest liability would have been higher by ₹4,702.71 lakh.
  • Consequently, reported Profit after Other Comprehensive Income would have been ₹27,523.94 lakh (instead of ₹32,226.65 lakh).
  • EPS would have been ₹17.49 (instead of ₹20.48).

Material Uncertainty Relating to Going Concern:

  • The auditor draws attention to Note 6 regarding eroded net worth and current liabilities exceeding current assets, indicating material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.
  • However, based on management's assessment, financial results have been prepared on a going concern basis.

Emphasis of Matter:

  • The auditor emphasizes Note 7 regarding OTS with lenders: settled with twelve lenders, awaiting final approvals from two lenders with related amounts deposited in escrow.
  • The auditor emphasizes Note 8 regarding exceptional items of ₹33,430.04 lakh.

Other Matters:

  • Balance confirmations for bank loans (including interest accrued), escrow account, bank guarantees, current accounts, and fixed deposits aggregating ₹79,987.41 lakh have not been received as of June 30, 2026.
  • Financial results include quarter ended March 31, 2026 as a balancing figure between audited full-year and published unaudited nine-month figures.