PTCL reports earnings of Rs5.7 billion after an impressive growth in revenues

MG News | February 12, 2019 at 03:18 PM GMT+05:00

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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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