Mumbai, March 5 (IANS) Global Cloud Xchange (GCX), a subsidiary of Reliance Communications, here on Tuesday reported a 55 per cent increase in cash flow in the third quarter of FY19 against the year ago period.
In addition, GCX's 'IFRS Ebitda, less IRU revenue from deferred and one-off' has increased by 17 per cent in the quarter against Q3FY18.
"Our GCX business continues to operate at industry benchmarked levels for growth and profitability, despite the overhang of our parent company, Reliance Communications' (RCom) restructuring," said Bill Barney, Chairman and Chief Executive Officer, GCX.
"Our strong cash flow in FY19 reduces GCX's refinancing risks as our '$350M 7 per cent' senior secured notes come to maturity in July 2019," Barney said.
The company said since the maturity of these bonds remain a priority for GCX, it has retained "Lazard" as the financial adviser to evaluate refinancing options for the company and ensure that the upcoming maturity is addressed on competitive terms at the earliest.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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