PTCL’s Q1 Profits Shrinks on Lower Revenues

PTCL has reported 19 percent decline in first-quarter profit, reason: low revenues due to tough competition from cellular companies.

Financial statement said that company’s net income fell to 2.57 billion rupees ($30.7 million), or 0.50 rupee a share, in the three months ended Sept. 30, 2009 from 3.18 billion rupees, or 0.62 rupee, a year earlier. Statement further said that revenue fell to 14.5 billion rupees from 16.6 billion rupees in the same period last year.

It is evident that PTCL has not been performing well in recent times; in fact revenues are consistently going down. Experts say that this is due to loss of landline consumption thanks to cellular companies getting popular with time. On other side, PTCL has failed to boost revenues despite a line of products added in company’s portfolio, such as, DSL, EVO, IPTV and so on.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK