PTC incurs losses of Rs1.5bn in 1QCY22
By MG News | April 14, 2022 at 11:55 AM GMT+05:00
April 14, 2022 (MLN): Pakistan Telecommunication Company Limited (PSX: PTC) has unveiled its financial results for the quarter ended on March 31, 2022, on Wednesday, whereby the company has suffered a net loss of Rs1.5 billion against a net profit of Rs1.6bn, the company’s filling on PSX showed.
PTC’s sales revenue inched up by 3.21% YoY to stand at Rs35bn while the 10.82% increase in the cost of sales squeezed the gross margins of the company from 27.46% in 1QCY21 to 22.12% in 1QC22.
Moreover, an increase in administrative and general expenses and selling expenses by 4.84% YoY and 12.23% YoY respectively also contributed to weakening the financial stability of the company.
The other income rose by 18.43% YoY to Rs3.56bn in the review period.
On the back of tightening monetary policy, the finance cost of the company jumped by 93.51% YoY to Rs6bn in 1QCY22.
|
Consolidated Financial Results for the Quarter ended March 31, 2022, ended ('000 Rupees) |
|||
|---|---|---|---|
|
Mar-22 |
Mar-21 |
%Change |
|
|
Revenue |
35,051,051 |
33,959,997 |
3.21% |
|
Cost of services |
(27,299,214) |
(24,633,475) |
10.82% |
|
Gross profit |
7,751,837 |
9,326,522 |
-16.88% |
|
Administrative and general expenses |
(4,609,941) |
(4,397,138) |
4.84% |
|
Selling and marketing expenses |
(2,160,518) |
(1,925,009) |
12.23% |
|
Impairment loss on trade debts and contract assets |
(668,106) |
(630,957) |
5.89% |
|
(7,438,565) |
(6,953,104) |
6.98% |
|
|
Operating Profit |
313,272 |
2,373,418 |
-86.80% |
|
Other income |
3,565,315 |
3,010,570 |
18.43% |
|
Finance cost |
(6,038,655) |
(3,120,622) |
93.51% |
|
(Loss)/Profit before tax |
(2,160,068) |
2,263,366 |
- |
|
Provision for income tax |
601,601 |
(656,560) |
- |
|
(Loss)/Profit for the period |
(1,558,467) |
1,606,806 |
- |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 125,627.31 258.99M |
1.00% 1248.25 |
| ALLSHR | 78,584.71 1,142.41M |
1.16% 904.89 |
| KSE30 | 38,153.79 69.25M |
0.63% 238.06 |
| KMI30 | 184,886.50 91.38M |
0.01% 13.72 |
| KMIALLSHR | 53,763.81 554.57M |
0.54% 290.61 |
| BKTi | 31,921.68 33.15M |
1.78% 557.94 |
| OGTi | 27,773.98 9.65M |
-0.40% -112.21 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 107,565.00 | 108,105.00 107,505.00 |
-670.00 -0.62% |
| BRENT CRUDE | 66.42 | 66.63 66.34 |
-0.32 -0.48% |
| RICHARDS BAY COAL MONTHLY | 97.00 | 97.00 97.00 |
1.05 1.09% |
| ROTTERDAM COAL MONTHLY | 107.65 | 107.65 105.85 |
1.25 1.17% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 64.76 | 65.02 64.67 |
-0.35 -0.54% |
| SUGAR #11 WORLD | 16.19 | 16.74 16.14 |
-0.52 -3.11% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|