PTCL posts Rs20.7bn net profit

Posted on 09.15.06 by StockPK Team @ 11:41 am    

The Board of Directors of PTCL reviewed and approved the audited financial statements of the Company for the year ended on June 30, 2006.

PTCL earned total revenue of Rs69.085 billion and posted a net profit of Rs20.777 billion. Besides, a final cash dividend for the year was approved at Rs2 per share, which is in addition to the interim dividend already paid at Rs3 per share.

The operating cost this year was Rs41.687 billion as against Rs39.608 billion last year.

In assessing the financial performance, the Board was informed that despite intense competition, the Company was able to achieve a healthy profitability for the year, while a little decrease in total revenue was mainly due to highly competitive telecom environment.

Earning per share for the year stood at Rs4.07 that is Rs1.15 lower as compared to Rs5.22 of the year ended on June 30. 2005.

The Board was informed that last year the telecom sector experienced dynamic change, landmark developments and innovation resulting in a highly challenging and fast growing telecom market.

The expansion in telephone infrastructure and the growth in tele-density during the year have been phenomenal.

As a result the competition among the operators was also unprecedented. In this highly competitive environment, PTCL was able to maintain its leading position in the market and achieve a healthy profitability.

Source: The News