PTCL Group continued its profitable journey once again by making a profit of Rs 1.768 billion in the first quarter of 2016, which is 146 percent higher than the similar period of previous year.
The staggering growth in profitability was seen due to comparatively lower profit of Rs 716 million reported in first quarter of 2015. Last year, PTCL managed to make a whole year profit of Rs 1.86 billion after showing losses in the balance sheet of third quarter of 2015.
The cost of services during the reported period stood at Rs 20.9 billion as compared to Rs 21.6 during same duration in 2015. The overall administrative cost decreased to Rs 4.25 billion in 2016 from Rs 4.28 billion of 2015.
The Group overall revenues also contracted slight to Rs 29.3 billion in 2016 as against Rs 30.1 billion reported in the similar period of 2015.
Analysts said the PTCL Group financial performance is likely to maintain stability in the coming months as it has continued to contain its losses and expenses. However, it needs to enhance its revenue streams through various subsidiaries and its products.
The new leadership at PTCL might take new measures for the company’s operations and business which will reflect on the results of second and third quarter.
The revenue streams through Ufone are limited due to immense competition among cellular phone sector but it is the major driver which can only make a difference in the balance sheet of PTCL Group.
PTCL is more into corporate services which has become an emerging sector for the company. Besides, the growth of the data services is likely to persist in future with acquisition of more customers on the network of its subsidiaries.
PTCL Group is likely to invest into integrated solutions, delivering exceptional quality on the back of its proficient data services. It is focusing on creating more value for its customers and is refining its increasingly efficient and widespread network.