PTCL Earns Rs 9.1 bln

PTCL says that it has achieved a profit after tax of Rs 9.151 billion in financial year 2008-09 against a loss of Rs 2.82 billion in the previous year.

Earning per share (EPS) came to Rs 1.79 compared to loss per share (LPS) of Rs 0.55 for FY08. The loss incurred last year was attributed mainly to a one-time spending on account of the Voluntary Separation Scheme (VSS). The company’s operating profit stood at Rs 10.75 billion as compared to Rs 16.36 billion last year, a decline of 34.2 per cent year-on-year. Other operating income increased by 7.82 per cent to Rs 4.26 billion against Rs 3.95 billion last year.

Though the company posted a profit, shrinking fixed-line subscriber base owing to a change to mobile communications and inclination towards wireless local loop they were causing an overall decline in revenues. Fixed-line teledensity in FY09 stood at 2.20 per cent with total subscribers at 3.60 million against 2.60 per cent teledensity in FY08 and a subscriber base of 4.42 million.

The fall in revenues on the fixed line front is offset for the most part by international revenues and the broadband segment. In FY09 PTCL’s total broadband subscriber base stood at 200K as compared to just 56K in FY08.

Broadband revenues swell by 200pc, though the segment remains a minor contributor to the overall top line.

Via The News