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PTCL’s net profits slump by 32%

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October 16, 2019 (MLN): Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the nine months ended September 30th 2019. As per the results, the company has posted net profits of Rs. 2.6 billion, i.e. around 32% lower than the earnings of same period last year.

The upsurge in the company’s revenue by 4.48% increased the gross profits by 2.13%, from Rs.25 billion to Rs.26 billion.

The company’s operating expenses, finance cost and provision for income tax soared by 8.71%, 31.74% and 85.8% respectively, which stressed its net earnings.

Moreover, other income increased by 73%, from Rs. 2.9 billion to Rs. 5.1 billion.

Consolidated Financial Results for the nine months ended September 30th 2019 ('000 Rupees)

 

 

Sep-19

Sep-18

%Change

Revenue

        97,968,592

        93,768,112

4.48%

Cost of services

      (71,766,943)

      (68,113,873)

5.36%

Gross profit

        26,201,649

        25,654,239

2.13%

Administrative and general expenses

      (15,258,151)

      (13,793,319)

10.62%

Selling and marketing expenses

        (4,875,415)

        (4,727,329)

3.13%

 

      (20,133,566)

      (18,520,648)

8.71%

Operating Profit

          6,068,083

          7,133,591

-14.94%

Other income

          5,122,281

          2,960,934

73.00%

Finance cost

        (7,093,312)

        (5,384,385)

31.74%

Profit before tax

          4,097,052

          4,710,140

-13.02%

Provision for income tax

        (1,419,438)

            (763,967)

85.80%

Profit for the period

          2,677,614

          3,946,173

-32.15%

 

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Posted on: 2019-10-16T15:28:00+05:00

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