PTCL's net income fall by 41.7% YoY during 9MCY20

News Image

MG News | October 14, 2020 at 04:30 PM GMT+05:00

0:00

October 14, 2020 (MLN): Pakistan Telecommunication company Limited (PTCL)’s net income fell by 41.67% YoY to Rs 1.56 billion for the nine months ended on September 2020, compared to Rs 2.67 billion reported in the same period last year.

The decline in company’s bottom-line is mainly attributable to rupee devaluation and the impact of covid-19.

The company derives its revenue from three key segments, namely retail, corporate and wholesale. The retail segment comprises Wire line, Voice and Wireless data services. The company acts as the backbone of telecom services within the country by providing wholesale services based on IP gateway, bandwidth and other line services where the key clients include Jazz, Zong, Telenor, Wi-tribe etc.

During the period mentioned above, PTCL Group’s revenue of Rs 95.65 billion is lower by 2.37% as compared to the same period of last year. As a result of this, the gross margins of the company fell by 1 ppts from 26% to 25%.

On the expense side, the company witnessed 6.55% surge in admin and general expenses, in addition it also booked impairment loss of Rs 2.54 billion, up by 19% YoY on trade debts and contract assets which impacted company’s operating profits by 36% YoY.

The company also observed 47.8% YoY decline in tax expenses from Rs 1.4 billion to Rs 740.27 million which provided cushion to company’s profitability.

Consolidated Financial Results for the Nine months ended September 30, 2020 ('000 Rupees)

 

Sep-20

Sep-19

%Change

Revenue

        95,648,290

        97,968,592

-2.37%

Cost of services

      (71,316,177)

      (72,557,878)

-1.71%

Gross profit

        24,332,113

        25,410,714

-4.24%

Administrative and general expenses

      (12,854,848)

      (12,064,919)

6.55%

Selling and marketing expenses

        (5,034,949)

        (5,115,687)

-1.58%

Impairment loss on trade debts and contract assets

        (2,543,108)

        (2,134,971)

19.12%

 

      (20,432,905)

      (19,315,577)

5.78%

Operating Profit

          3,899,208

          6,095,137

-36.03%

Other income

          5,662,755

          5,122,280

10.55%

Finance cost

        (7,259,703)

        (7,120,365)

1.96%

Profit before tax

          2,302,260

          4,097,052

-43.81%

Provision for income tax

            (740,277)

        (1,419,438)

-47.85%

Profit for the period

          1,561,983

          2,677,614

-41.67%

Copyright Mettis Link News 

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg