PTCL Posts 9% Growth in Revenues During Q1 2014

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Pakistan Telecommunication Company Limited (PTCL) today announced its financial results for first quarter with revenue during the period standing at Rs 21.1 billion, up from Rs 19.38 billion during the same duration last year and showed a positive growth of 9%.

Company said that its net profit after tax stood at Rs.  3.4 billion, up from Rs. 2.9 billion during same quarter last year, while gross profit was recorded at Rs. 7.6 billion for the quarter that ended on March 1st, 2014.

PTCL cash flows remain healthy and stable due to the consistent growth in the subscriber base and strong market position.

PTCL Group revenues were Rs. 33.4 billion for the period ended March 31, 2014, an increase of 4% over the same period last year, while net earnings of the Group stood at Rs. 4.4 billion. The Group’s gross profit remained Rs.13 billion.

Earning per share

Walid Irshaid, President & CEO PTCL expressed his pleasure at this strong performance of the company adding that, “Our solid first quarter results again demonstrate our ability to grow our business and perform for our customers and shareholders”.

“Despite fierce competition in the telecom market, we have continued to pursue our goals with a commitment to lead the broadband market and maintain overall leadership in the industry,” added Walid Irshaid.