PTCL reports earnings of Rs5.7 billion after an impressive growth in revenues
By MG News | February 12, 2019 at 03:18 PM GMT+05:00
February 12, 2019 (MLN): Pakistan Telecommunications Limited has stated consolidated bottom-line earnings of Rs. 5.7 billion for the year ended December 31, 2018, demonstrating an increase of 32% as compared to previous year.
According to the company’s financial earnings report, the profits were mainly driven by improvement in sales revenue, which depicted a growth of around Rs. 9 billion.
Further positive movements emanated from reduction in the company’s provision for income tax by around 40%.
Moreover, unlike previous year, there was no share of loss from associate companies for the said period which further led to stronger financial position of the company.
| Consolidated Profit and loss account for the year ended December 31 2018 (Rupees'000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Revenue | 126,160,386 | 117,019,265 | 7.81% |
| Cost of services | -91,788,250 | -90,538,326 | 1.38% |
| Gross profit | 34,372,136 | 26,480,939 | 29.80% |
| Administration and general expenses | -18,646,757 | -17,336,472 | 7.56% |
| Selling and marketing expenses | -6,735,399 | -6,132,586 | 9.83% |
| Operating profit | 8,989,980 | 3,011,881 | 198.48% |
| Other income | 5,721,522 | 9,842,166 | -41.87% |
| Finance costs | -7,762,017 | -6,457,612 | 20.20% |
| Share of loss from associate |
| -7,624 |
|
| Profit before taxation | 6,949,485 | 6,388,811 | 8.78% |
| Provision for income tax | -1,239,481 | -2,071,158 | -40.16% |
| Profit after taxation | 5,710,004 | 4,317,653 | 32.25% |
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