GTL announced that it has cut its revenue growth guidance from 11-12% to 6-7% for FY 2009 citing blaming it on increased pressure on pricing and slower rollout from the telecom operators.

For the quarter ended December 2008, the company witnessed a 18 percent drop in its PAT at Rs 32.1 crore. Consolidated sales rose by 5 percent to Rs 467.8 crore and the operating profit too grew by 5 percent to Rs 56.8 crore.

The company has recommended buy back of shares at a price not exceeding Rs 260 per share for a cost of Rs 225 crore.