PTCL profit declines by 44% for the half year ending June 2018

MG News | July 18, 2018 at 03:13 PM GMT+05:00

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Pakistan Telecommunications Limited (PTC) today reported its consolidated financial statements for half year ending June 30, 2018.

The results were announced following the Board of Directors meeting on 18^th July, 2018 at 2pm.

Compared to the six months ending in June 2017, the company’s revenues increased by 3.68% while its gross profit rose by 12.95%.

Selling and Marketing Expenses jumped by 9.84% while the operating profit jumped by 56.5%.

Other income decreased by 61.6% while finance costs almost double, increasing by a significant 107.65%.

Profit before taxes decreased by 57.7% while the provision for income taxes declined by close to 82%.

Cumulative profit for the period declined by 44.54%.

The company also declared an interim cash dividend for the period ended June 30^th 2018 at Rs 1 per share, i.e. 10%.

Consolidated Profit and Loss Account – For the Half Year Ended June 30^th 2018
Key Financials	Jan-June 2017	Jan-June 2018	% Change
Revenue	58,507,024	60,662,125	3.68
Cost of Services	(43,903,907)	(44,168,204)	0.6
Gross Profit	14,603,117	16,493,921	12.95
Administrative and General Expenses	(8,893,477)	(8,969,881)	0.86
Selling and Marketing Expenses	(3,026,746)	(3,324,707)	9.84
	(11,920,223)	(12,294,588)	3.14
Operating Profit	2,682,894	4,199,333	56.5
Other income	4,999,396	1,917,365	-61.6
Finance costs	(1,733,760)	(3,600,129)	107.65
Profit before tax	5,948,530	2,516,569	-57.7
Provision for income tax	(2,093,325)	(378,479)	-81.9
Profit for the period	3,855,205	2,183,090	-44.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,745.00	81,920.00 81,055.00	290.00 0.36%
BRENT CRUDE	113.73	114.72 112.74	0.56 0.49%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.55 -1.19%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.80 1.24%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	100.40	100.98 98.84	0.93 0.94%
SUGAR #11 WORLD	20.19	20.20 20.02	0.06 0.30%