PTCL Group earns Rs 58.6bn

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PakistanToday
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The Pakistan Telecommunication Company Limited (PTCL), the country’s leading ICT services provider, has announced its financial results for half year ended June 30, 2016 at its Board of Directors meeting held in Islamabad on July 19.

In the meeting, the Board of Directors declared 10% interim cash dividend to the shareholders.

The PTCL Group earned Rs 58.96 billion revenue during the first half of 2016 whereas PTCL’s revenue was Rs 36.2 billion during the period. DSL broadband revenues increased compared to the same period of last year. However, revenues from voice services remained suppressed mainly due to deregulation of ICH. PTCL operating expenses during the period were reduced by 4% compared to the same period of last year due to effective cost optimisation measures in place.

Net profit of the Company stood at Rs 5.6 billion.

Although the PTCL Group’s net profit before tax was increased by 34% compared to the same period of last year mainly on account of increased operational efficiency of the PTCL Group, the net profit after tax showed slight decrease of 2% due to increased new tax charge on account of 8% minimum tax requirements which was accounted for in the financial results of half year 2016.

The PTCL Group says it remains committed to providing cutting-edge ICT products and services to its diversified array of consumer base throughout the country at competitive prices using its vast communication infrastructure capabilities available across Pakistan.

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