PTCL yearly profits decline by 19.75pct

Pakistan Telecommunication Company Limited (PTCL) total comprehensive income for the financial year 2011 (FY11) fell by 19.75 percent to Rs 7.458 billion as against of Rs 9.294 billion in the same period last year, mentioned in a notice issued by the company to Karachi Stock exchange.

Earnings per share (EPS) of the company also declined to Rs 1.46 during the period as compared to Rs 1.82 in the corresponding year.

Company board of directors in their meeting held on Wednesday approved financial information of the company for the year ended June 30, 2011. The company did not declare any cash dividend nor bonus shares during the period.

The company’s net sales went down by 3.36 percent during the FY11 to Rs 55.254 billion. However, company cost of sales surged by 9.00 percent to Rs 41.814 billion during the period which leads to reduce company’s gross profit by 28.56 percent to Rs 13.439 billion during the period under review.

From: Halal Tamweek