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GTL-CNIL combined debt falls to Rs.4,193 crore

GTL Infrastructure Ltd, which had plans to emerge debt free in the next 4 years, has reduced its combined debt to Rs.4,193 crore, following the implementation of a Strategic Debt Restructuring (SDR) scheme.The combined debt includes that of passive infrastructure sharing firm Chennai Network Infrastructure Ltd (CNIL).The debt has reduced to a “sustainable level” post SDR implementation on April 13, 2017, the company said in a stock exchange filing.GTL Infra’s combined debt was at Rs.8,553.46 crore prior to the SDR. In FY 2011, the two entities debt stood at Rs.11,000 crore, as per earlier regulatory filings.The combined company’s EBIDTA has moved up from a low of Rs.593 crore in FY 2011 to Rs.1,121 crore in FY 16-17.As of March 31, the combined company’s revenue from operations stood at Rs.2,286 crore.GTL Infra is a Global Group company while the other companies in the fold are network services firm GTL and passive infrastructure sharing firm CNIL. The group is headed by Chairman Manoj Tirodkar.

News Source:- http://www.thehindubusinessline.com/companies/gtlcnil-combined-debt-falls-to-4193-crore/article9770956.ece