Pakistan Telecommunication Company Limited (PTCL) today reported net profit of Rs 7.9 billion for 1sthalf of FY2013, 17 percent up from Rs. 6.8 billion earned previous year during same duration.
PTCL said that its Gross Profit for the period under review stood at Rs 24.1 billion.
During first half 2013, PTCL revenue grew 4.8 percent to Rs. 65.6 billion – thanks to higher stream from broadband segment – and cost of sales also rose from 8.2pc to Rs. 41.4 billion. Resultantly gross margins declined by 200bps to 36.8 percent.
On quarter on quarter (QoQ) basis profit rose by 36pc mainly due to increase in revenues by 3.7 percent to Rs. 33.4 billion and gross margin improvement by 250bps to 38.1 percent.
Mr. Walid Irshaid, President & CEO PTCL while expressing his pleasure at this strong performance of the company said,
“Our revenues streams have grown across all spheres of our product portfolio, despite a highly competitive market. Our commitment is to ensure that our business decisions fulfill several key criteria, including adding value to our shareholders, enhancing our market share in the broadband space, and our capacity and capability to serve our customers across the entire country.
This achievement also resonates that our strategy and execution complement each other. Our focus to respond to challenges in the market as new technologies evolve and customers’ changing demands, demonstrates our responsiveness and agility to serve our customers commensurate to their expectations for our products and services”.
“This excellent performance has been achieved through our relentless perusal of excellence, network expansion and scalability, and our commitment to innovation in services as well as the unwavering commitment and support of our employees”, added Walid Irshaid.
PTCL said that on top of producing a solid financial performance, PTCL is continuously investing in infrastructure development that shall further augment its growth and cement its reputation as the leading ICT services provider of the country.