PTCL Revenues up 37% in Q2 2012

PTCL-logoPakistan Telecommunication Company Limited (PTCL) announced its half yearly revenues (instead of quarterly financials) yesterday and posted record net profit of Rs. 8.6 billion in the 4th quarter ended 31st December 2012 along with 37% revenue growth compared to the previous quarter, mainly due to increase in broadband subscribers and through the benefits of ICH.

With surge in revenues, company’s administrative cost increased by 21% during the quarter, coupled with a 13% rise in selling and marketing expenses. Its finance costs increased 223% to touch Rs104 million, while tax expenses declined by a staggering 717%.

PTCL noted one-time VSS cost of Rs. 9.467 billion, and hence reported accumulated net loss of 743 million for the half yearly period. The Company’s shareholders received a loss of 15 paisa per share, compared to profit of Rs1.41 in 1HFY12.

The company announced these results in the audited accounts for the six months’ period ended 31st December 2012, after the change of financial year of PTCL Group to correspond with the calendar year. These results were announced at the company’s Board of Directors meeting held today in Lahore

“The increase in the company’s revenue streams is an indicator of our dynamic corporate identity and increasing customer base.

Whether it was through launching innovative wireless products and bundles or segmented propositions, offering unmatched affordable packages, investing in our network for even better customer services, or expansion of our infrastructure for reaching-out to the remotest areas of the country, PTCL maintained an aggressive position that reaffirms our core philosophy of providing latest and most affordable information communications solutions to our customers”, commented Walid Irshaid, President & CEO PTCL, after the meeting of the company’s Board of Directors.

According to the PTCL Board of Directors announcement, the PTCL Group’s revenue for the six months’ period ended 31st December 2012 stands at Rs. 62.6 billion, showing a growth of 15 percent over the last quarter with 28% profitability for the reported revenues.

PTCL remains the market leader in broadband internet segment with more than 1.4 Million customers; the service is available in more than 2000 cities and towns nation-wide.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK