PTCL posted net profit of Rs. 15.76 billion in FY 2013

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Pakistan Telecommunication Company Limited (PTCL) posted net profit of Rs. 15.76 billion FY 2013 compared to Rs. 8 billion profits for FY 2012. Said profit is consolidated after tax. PTCL displayed a 97 percent growth for the period.

Walid Irshaid, PTCL CEO & President said that the company’s positive growth and net profits, clearly shows PTCL’s corporate strategy to enhance its customer base.

PTCL group yearly revenues for the period ending December 31, 2013 stood at Rs. 131.22 billion as compared to Rs. 62.48 billion generated for same period in the previous year.This massive growth in PTCL’s profits is mainly attributed to broadband services and Long Distance and International business revenues.

PTCL’s posted Rs. 81.1 billion revenues with profit of Rs. 12.7 billion in the FY 2013.

Mr. Walid said that the company posted good revenues despite sluggish economy of Pakistan with its lead in the ICT sector.

PTCL also declared cash dividend of Rs. 1 per share. PTCL also paid interim dividend of Rs.1 per share in July last year. Therefore total dividend by the company for the FY2013 was Rs 2 per share.

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