PTCL Posts Rs 9.35 Billion Loss in Q1 2012-13

PTCL-logoPakistan Telecommunication Company Limited (PTCL) yesterday announced its results for first quarter of FY2012-13 and posted Rs 9.354 billion as after tax loss in the quarter ended September 30, 2012 as compared to after tax profit of Rs 1.402 billion posted in the same quarter in 2011.

The Board of Directors of the company in its meeting held on Wednesday, declared that the company posted Rs 1.83 as per share loss in the first quarter of FY13 against earning per share of Re0.28 in the same quarter last year.

This loss on balance sheet is mainly because of one time Voluntary Separate Scheme (VSS) costs worth Rs. 11 billion in this quarter.

Company’s cost of services rose by 12 percent to Rs 12.2 billion, most likely on account of salary pressure. Moreover, selling and marketing expenses rose by 17 percent to Rs 665 million on the back of investment in advertising.

The PTCL group posted a its revenues for first quarter at Rs. 29 billion, showing 7 percent positive growth.

Ufone – PTCL’s wholly-owned cellular subsidiary – currently accounts for about 47% of the company’s consolidated revenues and seems to be a sector with huge growth potential.