PTCL earns Rs. 58.96 billion revenue in 1H

Pakistan Telecommunication Company Limited (PTCL), the country's leading ICT services provider, has announced its financial results for half year ended June 30, 2016 at its Board of Directors meeting held in Islamabad on 19th July 2016.

In the meeting, the Board of Directors has declared 10% interim cash dividend to the shareholders.

PTCL Group earned Rs. 58.96 billion revenue during the first half of 2016 whereas PTCL's revenues were Rs. 36.2 billion during the period. DSL broadband revenues increased compared with same period last year.

However, revenues from Voice services remained suppressed mainly due to deregulation of ICH. PTCL operating expenses during the period were reduced by 4% compared with same period last year due to effective cost optimization measures in place. Net profit of the Company stood at Rs. 5.6 billion. Although the Pakistan Telecommunication Company Limited (PTCL) Group's net profit before tax was increased by 34% compared with same period last year mainly on account of increased operational efficiency of PTCL Group, the net profit after tax showed slight decrease of 2% due to increased new tax charge on account of 8% minimum tax requirements which was accounted for in the financial results of half year 2016. PTCL remains committed to provide cutting-edge ICT products and services to its diversified array of consumer base throughout the country at competitive prices using its vast communication infrastructure capabilities available across Pakistan."