Pakistan Telecommunication Limited announced its financial results yesterday saying that company’s after-tax profit stood at Rs7.212 billion, down from Rs7.459 billion in FY11 – a decline in earnings of 3% over the year, said a statement issued by the company.

The profit translates into earnings per share (EPS) of Rs. 1.41 in FY12, slightly down from an EPS of Rs. 1.46 posted in FY11.

According to the official statement, PTCL’s group revenue stood at Rs 110.8 billion during the period under review, showing a growth of 8 per cent over Rs. 102.6 billion.

PTCL, as a group, witnessed an earnings growth of 36% over the previous year, and after-tax profits reached Rs. 11.438 billion in FY12, translating into EPS of Rs. 2.24.

Better earnings and revenues were mainly due to higher contribution from Ufone and Internet services that PTCL offer.

“The positive growth of PTCL’s revenue streams points to our dynamic corporate identity and strong customer base”, said PTCL CEO and President, Walid Irshaid, following the company’s Board of Directors meeting. “Our dynamic corporate leadership and talented human capital has cascaded into PTCL’s impressive financial strides and rising shareholder value”, he said.