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Global Tele net up 19%; preferential issue cleared
Our eFE Bureau
Mumbai, Oct 16: Global Telesystems Ltd, the Mumbai based e-commerce and software services company, has recorded a total income of Rs 224.12 crore for the quarter ended September 30, 2000 as against Rs 188.32 crore in the corresponding period last year, a rise of 19 per cent. The board has approved the allotment of 1,00,000 equity shares of Rs 10 each at a premium, as per Sebi guidelines, to be issued on a preferential basis to the existing shareholders of Thermax Services and Software Ltd and 50,000 equity shares to the shareholders of Fine Infotech Limited, in consideration of these shareholders agreeing to transfer their shares in these companies in favour of GTL. GTL has posted a net profit (before extraordinary income) of Rs 73.40 crore for the second quarter of this fiscal.Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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