Pakistan Telecommunication Company Limited (PTCL) today announced its financial results for 9 months ended 31st March 2011 and said that it earned net profit of Rs. 4.972 billion down by 63 % from Rs. Rs.7.86 billion for the same period last year.
PTCL announced an per share earning of Rs. 0.97.for the reported 9 months of year 2010-11.
Net income fell to 949 million rupees ($11 million), in the three months ended March 31, from 2.5 billion rupees, compared to same period last year. Revenue fell almost 3 per cent to 13.3bn rupees.
PTCL is facing tough competition from cellular companies for its core telephony businesses. Despite new sources of income, on the commercial side, PTCL’s revenues are consistently witnessing a negative growth for last few years.
the growth momentum of PTCL remained strong in emerging segments of Broadband and Corporate Services.
President & CEO PTCL Walid Irshaid commenting on the results said,
I am pleased to announce that we remained focused on our strategy of positioning PTCL as the leading integrated telecom company in Pakistan providing multiple solutions to business and household market segments and extending vital services to other telecom operators in Pakistan.
We remain highly conscious of the fact that our success and growth can only come from satisfied customers and it remains our challenge to provide friendly, seamless and prompt customer’s service.
To this end, we endeavor to embark on several new projects intended to bring PTCL closer to the customers. We strongly believe that PTCL is poised to grow and remain the leading and dominant integrated telecom service provider of choice for customers throughout Pakistan.
PTCL in its statement said that it is the largest Broadband service provider in the country with now over 575,000 customers using its DSL broadband services in over 1000 cities and towns across Pakistan.
PTCL managed to increased its Broadband DSL market share to almost 90 percent in Q3 2011. In addition to this, the Broadband DSL business started contributing over half a billion rupees of monthly revenue to the company’s account, making it the highest growth revenue stream in the entire product portfolio of PTCL.