The Q2 of this ongoing year has brought strong and impressive sale results for the Pakistan Telecommunication Company Limited (PTCL). PTCL released its Q2 earnings report which was backed up by its growing landline and wireless internet services.
As per the sales figures, PTCL generated total revenue of Rs 42.85 billion for the first half of present fiscal year ending on June 30, 2014. These figures supersede Rs. 39.98 billion from the same period of 2013. The gross and net profit of the PTCL were Rs. 15.3 billion (up from Rs. 13.63 billion for the similar duration of 2013) and 6.9 billion (up from Rs. 6.29 billion for the similar duration of 2013) respectively.
A 10% interim cash dividend was declared by the BoDs.
Cash flows for PTCL remained smooth and stable because of the steady increase in the user base and dominating market position.
PTCL Group generated a profit of Rs 68.5 billion for the aforesaid duration, indicating a 5% growth over the identical duration of 2013. A Rs. 8.2 billion net profit was recorded, whereas gross profit generated was Rs. 25.6 billion, highlighting an annual growth of 7%.
President and CEO PTCL, Walid Irshad, expressed his delight at the improved performance by saying, “Our strong Q2 sales mentioned our devotion and caliber of our diversified scheme of business to meet the expectation of our shareholders”.
“Regardless of the throat-cutting competition in the telecom sector, PTCL has managed to dominate and reach the top spot to set an example for the industry to follow. The boost in results basically relies on increasing internet portfolio, whereas assistance to the bottom-line also came from enhanced corporate services collection, which has experienced a decisive increase,” Walid Irshaid added.