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

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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 18th 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 30th 2018 at Rs 1 per share, i.e. 10%.

Consolidated Profit and Loss Account – For the Half Year Ended June 30th 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

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