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.

PTCL to invest Rs 16bn in next five years: MD

Pakistan Telecom-munications Company Limited (PTCL) would invest about Rs 16 billion in telecommunications sector in the next five years in Pakistan, Walid Irshad, Managing Director PTCL said.

Addressing a luncheon meeting at Korangi Association of Trade and Industry (KATI) on Monday, Irshad said that PTCL is going to introduce super-speed Internet in the near future in Pakistan and it would be started from Korangi Industrial Area.

He said that the era of conventional telephone exchanges is now over and most modern exchanges would now be installed in Pakistan. He said that first ever new generation telephone exchange would be introduced in Karachi.

PTCL introduces BoP to MPLS network

Pakistan Telecommunication Company Limited (PTCL) and Bank of Punjab (BoP) have finally inked an agreement to cater for their entire branches connectivity through state of art IP MPLS (Multi Protocol label Switching) service over physically and geographically redundant network. This will help the BoP for their multi application connectivity in secure, reliable and cost-effective manner.

This agreement will allow Bank of Punjab to carry out its online core banking transactions in a secure, faster and cost effective manner. The MPLS service provided to Bank of Punjab is fully flexible to meet the ever increasing demand of bandwidth due to multiple applications securing over the same network. MPLS can also provide the different Classes of Service (CoS) as per customer’s requirement such as voice, video and data traffic.

IUB, PTCL ink MoU

The Islamia University of Bahawalpur and Pakistan Telecommunication Company Ltd (PTCL) have signed an MoU for the development of Information and Communication Technology and provision of latest IT facilities. According to the MoU, the PTCL will provide EVO (USB) Wireless Broadband high speed internet facility to the students, faculty and employees of the IUB at concessionary rate, which will be helpful to boost learning and research activities.

A tower will also be installed in Baghdadul Jadeed campus for the purpose.IUB Vice Chancellor Dr Muhammad Mukhtar and PTCL Regional General Manger Shakeel Ahmed signed the document for their respective institutions.

Pakistani stocks gain on healthy results; rupee firms vs dollar

Pakistani stocks edged slightly higher on Wednesday, driven by healthy corporate results announcements by telecommunication and oil and gas companies, and dealers said volumes also improved compared with the last few days.

“There were some exceptional results by Lotte Pakistan PTA yesterday and then today very surprisingly good dividend was announced by the Pakistan Telecommunication (PTCL) which helped the volumes,” said Mohammed Sohail, chief executive of Topline Securities.

The government is expected to announce the budget for the 2011/12 (July-June) fiscal year by the end of May or early June.

Results of PSO, PTCL, CTTL announced

Despite comparatively lower net income the Pakistan State Oil (PSO) registered at the completion of first half of the current fiscal year ended on December 31, 2006, Board of Management of PSO managed to announce first interim cash dividend at Rs6 per share, on Thursday, translating into a cash payout of Rs1.029 billion to its shareholders.

Best Cure for Hiccups?

“No matter how strong a bull may be, there is a time when it gets tired”, I said in my article “How Much Bull Can you Take”. My sentence reflected the market situation last week. (Behold, for my next trick I shall make Chirac disappear!) I mentioned that the bullish trend would continue and it is going to be a week of correction. It wasn’t exactly a correction of the magnitude I’m still expecting but it was definitely a hiccup that required more than a glass of water to abate. Though on the day market was a bit rough and the index showed fluctuation of about 175 points, Tuesday ended with a positive note. Correction, nevertheless, it was, in principle.

Analysts suggest caution as KSE touches 9-month high

The outgoing week (February 06-09) is the seventh in sequence of closing the Karachi bourse on positive note. However, the process of much awaited technical correction was initiated on weekend.

KSE 100-Index moved ahead by another 255.01 points on week-on-week basis and closed above nine-month high record at 11,844.65 points despite of the bearish resistance it faced during week.

To calculate the future movement of the benchmark, it is worth mentioning here that 100-Index breached through 12,000 points on aggressive buying on Friday, but market failed to sustain this level. Corrections reversed the earlier gains after touching 12,047.72 points peak level this week.

How Much Bull Can You Take?

Last week was another good one for the stock markets; KSE-100 index gained about 500 points. The bulls ran rampant. The trend which started mid-January continued. The index gained more than 1, 000 points overall straight away, without any correction. The index, which started rising mid-January, is now above 11, 500 points. TNA, people: Total Non-stop Action.

The (Passed) Winds of Change – Part 2

Again, here’s my take on the news. I think the three more important ones, that directly pertain, hence affect, the Karachi stock exchange, are:

1. The release that Prime Minister Shaukat Aziz is to postpone the decision to levy Capital Gain Tax for the next year.
2. The Sindh Government’s decision to discontinue stamp duty on electronic transfer of shares. [This proposal was in the last budget (June 2006). The duty was Rs. 0.01 per share.]
3. The opposition and disfavor of the Public Accounts Committee toward the privatization of Pakistan State Oil (PSO).