GTL Infrastructure Ltd released its financial results for the fourth quarter of FY25 on Thursday, May 08, 2025.
In GTL Infrastructure Q4 results, the company posted a loss of ₹248.9 crore. This indicates a YoY decline of around 16% from ₹214.7 crore loss reported in the same quarter of the previous financial year.
For the final quarter of FY25, GTL Infrastructure Ltd shows a approximately 80% increase in its depreciation and amortisation expenses, which stands at ₹60.2 crore, up from ₹33.4 crore reported in the same quarter of the last year.
Additionally, Q4 GTL Infrastructure results 2025 show that the finance costs remain the highest among the other expenses of ₹237.9 crore, up by around 14% from ₹209.6 crore reported in the Q4 quarter ended FY 2023-24.
GTL Infrastructure Ltd. Q4 Results Highlights
In this table, you will get an overview of GTL Infrastructure latest quarterly results:
| Q4 FY2024-25 | Q3 FY2024-25 | Q4 FY2023-24 | YoY Growth (%) | QoQ Growth (%) | |
| Total Income (₹ in crore) | ₹340.5 | ₹341.7 | ₹334.5 | -1.8% | -0.35% |
| Profit (₹ in crore) | ₹-248.9 | ₹-210.2 | ₹-214.7 | -15.9% | -18.4% |
| EPS (Diluted) | ₹-0.19 | ₹-0.16 | ₹-0.16 | -18.8% | -18.8% |
GTL Infrastructure Ltd’s Financial Results Comparison With the Previous Year
Here is a table of annual data comparison of GTL Infrastructure Q4 2025 results:
| FY 2024-25 | FY 2023-24 | |
| Total Income (in crore) | ₹1,365.7 | ₹1,423.3 |
| Profit (in crore) | ₹-875.2 | ₹-681.4 |
| EPS | ₹-0.67 | ₹-0.52 |
Updates shared by GTL Infrastructure in Latest Financial Results
During the announcements of GTL Infrastructure Q4 results, the company’s management provided key notes during the board meeting:
Bond Maturity and Conversion Details
According to GTL Infrastructure latest quarterly results, these are some of the conversion and maturity details of existing blogs:
Series B1 & B3 Bonds:
- The Series B1 and Series B3 bonds matured on October 27, 2022, and were scheduled for mandatory conversion into equity shares.
- The company is currently awaiting the necessary details from bondholders for the conversion of 27,597.50 Series B1 Bonds and 10,281 Series B3 Bonds.
- Once the required details are provided, these bonds will be converted into 17,97,66,251 equity shares (B1) and 6,69,68,994 equity shares (B3).
Series B2 Bonds:
- The Series B2 bonds also matured on October 27, 2022, but could not be redeemed due to outstanding payments to secured lenders.
- Bondholders still have the option to convert their bonds into equity shares until the redemption amount is received.
- If all 37,417 Series B2 Bonds are converted, 24,40,80,848 equity shares will be issued.
Payment and Debiting from the TRA Account
For the year ending March 31, 2025, IDBI Trusteeship Services Limited (“ITSL”), on behalf of Edelweiss Asset Reconstruction Company Limited (“EARC”) and the lenders, debited a total of ₹130.6 crore.
This amount includes the upfront payment made by the company for considering the One-Time Settlement (OTS)/Restructuring proposal with the lenders.
Since May 2020, a cumulative total of ₹1,275.6 crore has been debited or paid from the TRA account. The interest on borrowings is calculated after adjusting the debited amounts from the principal.
Challenges and Future Outlook for the Company
The Company has faced significant losses in tenancies over the past few years due to factors beyond management’s control, including the shutdown or exit of 14 telecom customers such as Aircel Group, Reliance Communications, Shyam Sistema, and Tata Teleservices, as well as business combinations involving Vodafone-Idea and Telenor-Airtel.
These events have resulted in a decline in revenue, earnings, and a substantial erosion of the Company’s net worth, as well as provisions for impairment of property, plant, and equipment. As a result, the principal and interest on the Company’s debts have become overdue.
Additionally, the Company has received loan recall notices from three lenders citing alleged defaults under the Master Restructuring Agreement dated December 31, 2011, though the Company has strongly refuted these claims and responded appropriately.
These events raise significant doubts about the Company’s ability to continue as a Going Concern.
However, government support for the telecom sector, BSNL’s 4G and 5G plans, Vodafone Idea’s funding efforts, a simplified telecom policy, tariff hikes, and 5G rollout preparations are expected to stabilise the sector and enhance demand for the Company’s towers, which could increase revenue and EBITDA.
The Company has also undertaken various resource optimisation initiatives aimed at stabilising and reviving operations. Despite the challenges, the Company is regular in the payment of statutory dues, taxes, and employee dues.
Additionally, the Company is actively pursuing contractual claims of approximately ₹15,416.5 crore related to premature exits during the lock-in period and debt restructuring.
Given these factors, the Company has no intention to discontinue its operations or liquidate its assets and continues to prepare its financials on a Going Concern basis.
Site Dismantling and Losses
GTL Infrastructure reported challenges due to the shutdown of 14 telecom customers, leading to unpaid rents and taxes for unoccupied sites. Despite seeking approval from EARC to cover these rentals, it remains pending, causing some landlords to block site access and incidents of unauthorised dismantling.
In the fiscal year ending March 31, 2025, the company dismantled 84 sites in Q4 and 363 sites for the year, resulting in a loss of ₹2.4 crore (down from ₹6.4 crore in FY24). The company is taking steps to protect its assets, pursue insurance claims, and take legal action against miscreants and landlords.
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