Is the hype about infrastructure sharing over in India ?

Here is a news item from ET which suggests that the hype about infrastructure sharing may be over in India.

"Mumbai based telecom network services company GTL has cut its revenue growth guidance from 11-12% to 6-7% for FY 2009 citing increased pressure on pr
icing and slower rollout from the telecom operators.

The company posted 18% fall in its net profit (PAT) at Rs 32.1 crore for the quarter ended December 2008. The drop in PAT was despite 5% rise in consolidated sales at Rs 467.8 crore as the company reeled under the pressure on its margins. Operating profit grew by 5% to Rs 56.8 crore.

It's performance during the third quarter has been quite muted compared to the previous two quarters of the current fiscal when both sales and profits had witnessed double digit growth. On margin front, the company could maintain its operating margin at 12% compared to the year-ago number thanks to cost cutting measures.

Going ahead, the company has signaled delay in new network rollout by telecom operators given tighter credit situation in international market and slowing pace of economic activities. This is likely to keep the business growth sluggish in the coming quarters.

The company has recommended buy back of shares at a price not exceeding Rs 260 per share for a cost of Rs 225 crore. The stock ended at Rs 220.8 on NSE on Thursday, a rise of 0.8% over the previous day's close. "