GTL Limited Appoints Harshad Kulkarni as New Chief Financial Officer
GTL Limited's Board of Directors has approved the appointment of Harshad Kulkarni as the new Chief Financial Officer (CFO) and Key Managerial Personnel, effective August 7, 2025. Kulkarni, aged 52, is a Chartered Accountant and Cost Accountant with 28 years of experience in financial management. He replaces the retiring CFO, Milind Bapat. The decision was made during a Board meeting on August 6, 2025, based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.
GTL Limited announced Q1 results with revenue rising to ₹6,990.00 crore, up 25.4% year-over-year. Net profit increased to ₹1,560.00 crore, a 21% jump. However, the company faces significant financial challenges, including unpaid interest and eroded net worth. GTL settled dues with ten secured lenders and appointed Harshad Kulkarni as new CFO. The company continues to operate while awaiting arbitration outcomes and debt resolution.