PTCL posts strong results for Q2FY14 with 10% cash dividend

ISLAMABAD ( BMZ REPORT )

Pakistan Telecommunication Company Limited (PTCL), the largest ICT services provider in Pakistan, on Tuesday announced strong second quarter results riding on the back of its growing fixed and wireless broadband business.

PTCL announced revenues of Rs 42.8 billion for the period ended June 30, 2014, an increase of 7% over the same period of last year, while gross and net profit of the Company stood at Rs. 15.3 and 6.9 billion respectively. The Board of Directors has declared 10% interim cash dividend.

PTCL cash flows remain healthy and stable due to the consistent growth in the subscriber base and strong market position.

 PTCL Group earned revenue of Rs 68.5 billion during the reported period, showing an increase of 5% over the same period last year. Net profit of Rs. 8.2 billion was recorded, while gross profit was recorded at Rs. 25.6 billion, an increase of 7% over last year.

 Walid Irshaid, President & CEO PTCL expressed his pleasure at the strong performance of the company adding that, “Our robust second quarter results again demonstrated the ability of our diversified line of business to perform to the expectation of our shareholders”.

 “Despite intensified competition in the telecom market, we have continued to outperform and raise the bar even further for the industry to follow. The growth primarily stems from growing broadband portfolio, while support to the bottom-line also came from improved corporate services portfolio, which has seen a significant increase,” added Walid Irshaid.