PTCL faces choppy waters

News Image

MG News | April 09, 2020 at 03:05 PM GMT+05:00

0:00

April 9, 2020 (MLN): Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the first quarter of CY20 ended March 31, 2020. As per the results, the company has incurred losses worth Rs 406 million compared to net profits of Rs 1.99 billion of the corresponding period of last year.

The company’s gross profits plunged by around 19% YoY due to a decline in sales revenue by 5% despite a meagre increase of 0.58% YoY in the cost of sales, shrinking gross margins from 29% to 25%.

On the expense front, the administrative and general cost of the company reached to Rs 4.37 billion, up by 7% YoY owing to augmented distribution activities. The company bore selling and marketing cost which hiked to Rs 1.80 billion i.e. 4.47% YoY higher than the same period of last year owing to augmented distribution activities.

Another blow came from high impairment losses on trade debts and contract assets which went up by 86% YoY to Rs 1.14 billion.

On the other hand, other income jumped by around 46% YoY to Rs 2.15 billion.

Meanwhile, the substantial growth was recorded in the finance cost of the company which surged by 69 times YoY to Rs 3.27 billion. However, a tax reversal of Rs 114 million came as a breather in the bottom line.

 

Consolidated Financial Results for the Quarter ended March 31, 2020 ended ('000 Rupees)

 

Mar-20

Mar-19

%Change

Revenue

 31,825,093

 33,534,964

-5.10%

Cost of services

 (23,901,901)

 (23,764,414)

0.58%

Gross profit

 7,923,192

 9,770,550

-18.91%

Administrative and general expenses

 (4,373,912)

 (4,075,781)

7.31%

Selling and marketing expenses

 (1,805,047)

 (1,732,766)

4.17%

Impairment loss on trade debts and contract assets

 (1,138,233)

 (609,345)

86.80%

 

 (7,317,192)

 (6,417,892)

14.01%

Operating Profit

 606,000

 3,352,658

-81.92%

Other income

 2,151,342

 1,469,732

46.38%

Finance cost

 (3,278,828)

 (1,940,370)

68.98%

(Loss)/Profit before tax

 (521,486)

 2,882,020

-

Provision for income tax

 114,762

 (884,106)

-

(Loss)/Profit for the period

 (406,724)

 1,997,914

-

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,379.97
273.10M
0.32%
440.10
ALLSHR 84,648.35
701.94M
0.06%
47.97
KSE30 41,546.23
70.12M
0.42%
172.55
KMI30 191,719.76
71.30M
0.34%
649.79
KMIALLSHR 55,827.74
371.98M
0.16%
89.67
BKTi 37,827.61
18.93M
-1.72%
-662.14
OGTi 27,670.67
7.41M
-0.42%
-117.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,520.00 119,915.00
118,035.00
-1110.00
-0.93%
BRENT CRUDE 68.83 69.01
68.75
0.31
0.45%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.77 66.99
66.58
0.39
0.59%
SUGAR #11 WORLD 16.55 16.67
16.40
-0.01
-0.06%

Chart of the Day


Latest News
July 17, 2025 at 06:31 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 16, 2025 at 11:00 PM GMT+05:00

SBP raises Rs342bn in PIB Auction


July 16, 2025 at 10:17 PM GMT+05:00

TRG case files stolen en route to Islamabad


July 16, 2025 at 05:45 PM GMT+05:00

PM pushes for digital, International-Standard education


July 16, 2025 at 05:09 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg