PTCL discloses 58% YoY decline in yearly profits
MG News | February 11, 2020 at 03:15 PM GMT+05:00
February 11, 2020 (MLN): Pakistan Telecommunication Limited (PTCL)’s net profits for the year ended December 31, 2019, has reduced by more than half i.e. by 58% YoY to Rs 2.3 billion from Rs 5.7 billion reported in 2018.
During the year, Operating profit of a company remained under pressure mainly due to an increase in operating cost on account of a significant hike in power tariffs.
However, non-operating income has increased due to higher income on investments as a result of an increase in interest rates, translation gain on forex denominated assets.
With regards to revenues, the company witnessed a paltry growth of 2% YoY primarily attributable to strong competition from cellular companies.
Alongside financial results, the board of directors of the company announced a final cash dividend of Rs 0.50 per share i.e. 5% for the year 2019. This is in addition to the Interim Dividend already paid at Rs 0.50 per share (5%).
| Consolidated Financial Results for the year ended December 31, 2019, ended ('000 Rupees) | |||
|---|---|---|---|
|
| Dec-19 | Dec-18 | %Change |
| Revenue | 129,542,521 | 126,862,364 | 2.11% |
| Cost of services | (95,661,182) | (92,914,836) | 2.96% |
| Gross profit | 33,881,339 | 33,947,528 | -0.19% |
| Administrative and general expenses | (17,027,411) | (15,412,101) | 10.48% |
| Selling and marketing expenses | (6,946,681) | (6,819,420) | 1.87% |
| Impairment loss on trade debts and contract assets | (3,225,473) | (2,256,420) | 42.95% |
|
| (27,199,565) | (24,487,941) |
|
| Operating Profit | 6,681,774 | 9,459,587 | -29.37% |
| Other income | 6,156,874 | 5,721,522 | 7.61% |
| Finance cost | (9,202,708) | (8,231,624) | 11.80% |
| Profit before tax | 3,635,940 | 6,949,485 | -47.68% |
| Provision for income tax | (1,258,840) | (1,239,481) | 1.56% |
| Profit for the period | 2,377,100 | 5,710,004 | -58.37% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 177,678.88 326.72M | 3.89% 6657.68 |
| ALLSHR | 107,594.31 872.57M | 3.62% 3757.93 |
| KSE30 | 53,145.68 130.18M | 4.31% 2193.69 |
| KMI30 | 250,805.51 114.30M | 4.23% 10171.64 |
| KMIALLSHR | 69,035.03 413.22M | 3.70% 2462.28 |
| BKTi | 50,770.83 43.20M | 4.31% 2097.60 |
| OGTi | 35,218.90 8.87M | 4.50% 1516.65 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 65,305.00 | 66,075.00 63,875.00 | 1090.00 1.70% |
| BRENT CRUDE | 88.16 | 93.60 87.84 | -8.62 -8.91% |
| RICHARDS BAY COAL MONTHLY | 105.75 | 0.00 0.00 | -1.55 -1.44% |
| ROTTERDAM COAL MONTHLY | 121.10 | 0.00 0.00 | 0.85 0.71% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 82.84 | 86.20 82.46 | -6.47 -7.24% |
| SUGAR #11 WORLD | 14.56 | 14.75 14.54 | -0.21 -1.42% |
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 |
|---|