PTCL Declares Net Rise in Profits

Pakistan Telecommunication Company Ltd (PTCL) today announced its financial results for the half year ended on 31st December, 2009.

The Company announced a Net Profit of Rs. 5.354 billion or 1.05 rupees a share compared to Rs. 5.314 billion or Rs. 1.04 per share recorded in the same period last year.

On a consolidated basis, for half year ended December 31, 2009, the Group earned Rs. 6.7 billion Profit after Taxation with 13% growth compared to same period last year.

During last year, PTCL has continued its strategy of developing new sources of income, on the Commercial side. The Company remained focused, inter-alia, on enhancing Broadband penetration and accordingly PTCL achieved 85% market share by acquiring about 336,000 customers spread over 200 cities in Pakistan.

During the period under review, ‘Evo’ – the wireless Broadband based on 3G technology with nationwide roaming for the first time in Pakistan, expanded to all the major cities in the country too.

President PTCL Walid Irshaid commenting on the results said “We strive hard to ensure the high standards of quality that our valued customers expect from us. Now customers can experience the Internet at its fastest with high-speed access from Broadband Pakistan, simultaneously, enjoy Voice service over the same telephone line without any extra cabling connections! Broadband Pakistan offers DSL service with unmatched reliability, affordability and connectivity

He further added this reflects our commitment to add value to the lives of our customers and provide them access to the most sophisticated and advanced services with Automation of processes, operational costs optimization, commissioning of Next Generation Networks, development of nationwide backbone infrastructure, and propagation of broadband services among few of the envisioned objectives for the near future.”