PTCL’s revenues jumped by 4.2 percent in 1QFY12, over the same period last year, but cost of services increased as well by 6.5 percent. As a result, PTCLs gross profits slid down by roughly one percent, over the same period, said Business Recorder citing a KSE notice.
Consequently, the earnings per share fell from Rs.0.41 in 1QFY11 to Rs.0.28 in 1QFY12.
The Company’s administrative, general, selling and marketing expenses; all expanded during the period. However, the biggest hit came under the head of other operating income.
Citing Sources BR reveal that this decrease in other operating income was brought on mainly because of the fact that Ufone; a subsidiary of PTCL, did not give a dividend in the 1QFY12. On the other hand, Ufone had announced a handsome dividend in 1QFY11. This time around, Ufone did not treat its major stakeholder with a payout since it had also handed out a handsome dividend in the previous quarter.
PTCL will likely perform better in the upcoming quarter, due in part to expectations of a sizeable dividend announcement by the company’s cellular services provider subsidiary.
PTCL’s broadband service has also displayed appreciable growth and will likely add some sunshine to the presently gloomy performance.
Via Business Recorder