PTCL earned 8.6 billion profit in 4th quarter with 37 percent increase
Islamabad (DailyTimes / Thursday, February 14, 2013) – Pakistan Telecommunication Company Limited (PTCL), country’s largest integrated telecommunications services provider, has posted a record net profit of Rs. 8.6 billion in the 4th quarter ended 31st December 2012 along with 37% revenue growth compared to the previous quarter.
According to consolidated financial results of the company dispatched to Karachi Stock Exchange on Wednesday, the pre-tax profit also declined to Rs 2.216 billion as compared to Rs 16.908 billion in June 2012.
The earning per share dropped to Rs 0.23 during the period under review against Rs 2.24 in June 2012.
However, PTCL Board of Directors meeting revealed that the company has posted a record net profit of Rs 8.6 billion in the 4th quarter ended December 31, 2012 along with 37 percent revenue growth as compared to the previous quarter.
“The increase in the company’s revenue streams is an indicator of our dynamic corporate identity and increasing customer base. Whether it was through launching innovative wireless products and bundles or segmented propositions, offering unmatched affordable packages, investing in our network for even better customer services, or expansion of our infrastructure for reaching-out to the remotest areas of the country, PTCL maintained an aggressive position that reaffirms our core philosophy of providing latest and most affordable information communications solutions to our customers,” commented PTCL President and CEO Walid Irshaid, after the meeting of the company’s Board of Directors in Lahore. “Through optimal use of resources, we strive to achieve enhanced revenue, greater levels of customer satisfaction, as well as improve our shareholders’ value.”
According to the PTCL Board of Directors announcement, the PTCL Group’s revenue for the six months’ period ended December 31, 2012 stands at Rs 62.6 billion, showing a growth of 15 percent over the last quarter with 28 percent profitability for the reported revenues.
The company’s market share in the broadband, wireless and specialized telecom solutions segments has increased during the period under review through introduction of state-of-the-art products and unmatched affordable services.
PTCL remains the market leader in broadband internet segment with more than 1.4 Million customers; the service is available in more than 2000 cities and towns nation-wide. On the wire-line front, PTCL continued to introduce innovative products that augment the futuristic approach of the company.
In the 4th quarter of the last year, PTCL launched Pakistan’s first 3G USB modem, EVO Wingle. The device comes with built-in Wi-Fi hotspot, which connects multiple Wi-Fi gadgets simultaneously, providing seamless roaming experience at speeds up to 9.3 Mbps in over 200 cities and auto switch over to 3.1 Mbps speeds in over 250 cities. PTCL has remained strong throughout 2012 in Wireless and Wire-Line segments as well as other corporate services.