PTCL Reports Net Profit Rs. 9.29 Billion for FY 09/10

PTCL reported a net profit of 9.29 billion rupees ($108.5 million) or Rs. 1.82 per share in the 2009/10 fiscal year compared with 9.15 billion rupees the previous year.

PTCL’s revenue for the quarter ending on June 30, 2010 stood at 57.17 billion rupees lower than previous year’s 59.24 billion rupees revenues, said PTCL in a statement to the Karachi stock exchange.

PTCL operating income rose to 5.13 billion rupees compared with 4.26 billion rupees the previous year.

PTCL had to pay a one-time cost for a voluntary redundancy scheme in the 2008/09 fiscal year.

PTCL attributed the rise in net profit to dividend income and interest payments on a loan Rs. 5 billion loan to mobile subsidiary Ufone.

PTCL also received Rs. 330 million in dividends paid by Ufone.