PTCL reports exceptional progress in net earnings by 95 percent

By MG News | April 17, 2019 at 03:49 PM GMT+05:00

0:00

April 17, 2019 (MLN): Pakistan Telecommunication Company (PTC) has announced its financial result for the quarter ended March 31, 2019, which shows that the Profit after Tax of the company has observed a remarkable growth of 95%. Thus, the net profits for the quarter have been recorded at Rs. 1.9 billion.

This surge in PAT can be easily attributed to the growth in company’s non-core income, which escalated by 66.2% to Rs. 1.4 billion.

Further relief in financial stability was brought in by steadiness in financial costs, which stood firm at Rs. 1.5 billion while income from core and non-core operations continued to grow.

Even though the tax expense grew by a decent margin of 66%, the company still managed to report an exceptional progress in its net financial earnings.

Moreover, the company announced an interim cash dividend for the said period at Rs. 0.50 per share i.e. 5%. The declaration was made the day after financial results were announced.

Profit and loss account for the quarter ended March 31 2019 (Rupees'000)
	Mar-19	Mar-18	% Change
Revenue	33,534,964	30,291,924	10.71%
Cost of services	-24,042,384	-21,858,708	9.99%
Gross profit	9,492,580	8,433,216	12.56%
Administrative and general expenses	-4,858,483	-4,434,533	9.56%
Selling and marketing expenses	-1,623,494	-1,748,705	-7.16%
Operating profit	3,010,603	2,249,978	33.81%
Other income	1,469,732	884,240	66.21%
Finance cost	-1,598,315	-1,581,345	1.07%
Profit before taxation	2,882,020	1,552,873	85.59%
Provision for income tax	-884,106	-530,010	66.81%
Profit for the period	1,997,914	1,022,863	95.33%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,755.00	108,105.00 107,505.00	-480.00 -0.44%
BRENT CRUDE	66.42	66.63 66.34	-0.32 -0.48%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.77	65.02 64.67	-0.34 -0.52%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%