GTL Ltd has posted a net profit of Rs 211.80 million for the quarter ended December 31, 2002 as compared to Rs 287.70 million in the quarter ended December 31, 2001.

Net sales and services have increased from Rs 1370.30 million in DQ-01 to Rs 1412.40 million in DQ-02.

The consolidated results are as follows:

Net profit for DQ-02 is at Rs 196.80 million as compared to Rs 240.80 million in the quarter ended December 31, 2001.

Net sales & services have increased from Rs 1389.10 million in DQ-01 to Rs 1567.60 million in DQ-02.

The board of directors has considered and recommended the proposal for exploring various opportunities including alliances with some of the large organisations that are engaged in the business of supply chain in information technology and which represent global brands such as HP, Samsung, Cisco, Intel, Microsoft, IBM to name a few.

The board has constituted a committee of directors to define the scope of the said proposal and to appoint appropriate agencies such as investment bankers, independent valuers and advisors to evaluate their findings and thereafter submit the report to the board for its consideration.