July 22, 2019 (MLN): Pakistan Telecommunication Company Limited (PTCL) announced its half yearly net earnings last week wherein the company’s consolidated profit after tax logged in at Rs.2.34 billion thus marking a leap of over 9.5% compared to earnings in the same period last year.
In an analyst briefing session that took place earlier today, PTCL announced an interim dividend of Rs.0.5 per share for 2019, which equates to Rs.2.55 billion dividend payout.
The company’s improved performance came about on the back of improved Revenue (Rs.66.3 billion) which grew by 8.55% despite higher inflation and Rupee devaluation.
PTCL’s transformation project is accelerating the wireline data growth, thus enabling migration of subscriber on higher data packages and ARPU’s, divulged the briefing session.
In addition to this, Ufone is expanding its network coverage and continues to show healthy growth on the back of increasing subscriber base which adds to the revenue collection.
Moreover, Ubank continues to deliver significant growth in revenue and net profit based on increasing loan portfolio and expansion of branch network.
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