PTCL Posts 97% Growth in Profits During 2013

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Pakistan Telecommunication Company Limited (PTCL) posted a staggering Rs. 15.76 billion after-tax consolidated profits for the fiscal year 2013, registering a 97% growth against Rs. 8 billion profits for FY 2012.

This massive growth in profits are mainly attributed to high margins earned through Long Distance and International business. Moreover, increased share and better revenues from broadband and cellular segment also contributed towards the hiked profits.

Yearly revenues for PTCL group stood at Rs. 131.22 billion for the period ended December 31, 2013 against Rs. 62.48 billion revenues it generated during the previous year.

PTCL’s (just the landline, broadband, LDI) revenues amounted Rs. 81.1 billion while a net profit of Rs. 12.7 billion for the FY 2013.

“The positive growth of PTCL’s revenue streams and net profits, points to our dynamic corporate strategy and our enhanced customer base,” said Walid Irshaid, PTCL CEO & President following the BoD meeting.

“This strong performance during a sluggish economy has yet again proved that PTCL leads the ICT sector of Pakistan, added Mr. Walid.

The company has also declared a final cash dividend of Re.  1 per share for the year ended, in addition to already paid interim dividend of Re.1 per share in July 2013. Thus the collective dividend for FY2013 stood at Rs 2 per share.

With future of ICH uncertain, PTCL’s revenues in coming months remain hard to predict.

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