Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8746)	10/21/1999 9:16:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Rumor Line: Global Tele rumored to report 75% growth in net. gtl.co.in Special Effect/E-commerce shows growth route to Global Telesystems GLOBAL Telesystems is expected to announce a 75 per cent growth in its bottomline when its board meets to finalise its Q2 results on Friday. Net profit for first half is expected to be in excess of Rs 40 crore against Rs 23 crore in the corresponding previous period. This is despite a provision of accelerated depreciation in its accounts which, in fact, is double that of the previous accounting period. The company is also expected to make a provision with respect to employee stock options issued in this fiscal. It would also be making a provision for taxation which would be over 10 per cent of its pre-tax profits. GTL's revenue growth in the current fiscal is expected to surpass analysts' estimates. It has received two advance payments for a major contract signed recently. The e-commerce services revenues are also expected to be sharply higher from next fiscal. GTL would also be able to provide its accounts for FY99 prepared on the basis of Generally Accepted Accounting Principles (GAAP) and vetted by KPMG in about three weeks' time. GTL is also likely to announce major tie-ups with two or three banks for its Internet payment gateway services. It is also learnt that some foreign banks are planning to take an equity stake in GTL. These developments are likely to provide a boost to GTL's valuations. (Fe-10/22/99)