Pakistan Telecommunication Company (PTCL) has announced its financial result for the quarter ended March 31, 2019, which shows that the Profit after Tax of the company has observed a remarkable growth of 95%. Thus, the net profits for the quarter have been recorded at Rs. 1.9 billion.
This surge in PAT can be easily attributed to the growth in company’s non-core income, which escalated by 66.2% to Rs. 1.4 billion.
Further relief in financial stability was brought in by steadiness in financial costs, which stood firm at Rs. 1.5 billion while income from core and non-core operations continued to grow.
Even though the tax expense grew by a decent margin of 66%, the company still managed to report an exceptional progress in its net financial earnings.
| Profit and loss account for the quarter ended March 31 2019 (Rupees’000) | |||
|---|---|---|---|
| Mar-19 | Mar-18 | % Change | |
| Revenue | 33,534,964 | 30,291,924 | 10.71% |
| Cost of services | -24,042,384 | -21,858,708 | 9.99% |
| Gross profit | 9,492,580 | 8,433,216 | 12.56% |
| Administrative and general expenses | -4,858,483 | -4,434,533 | 9.56% |
| Selling and marketing expenses | -1,623,494 | -1,748,705 | -7.16% |
| Operating profit | 3,010,603 | 2,249,978 | 33.81% |
| Other income | 1,469,732 | 884,240 | 66.21% |
| Finance cost | -1,598,315 | -1,581,345 | 1.07% |
| Profit before taxation | 2,882,020 | 1,552,873 | 85.59% |
| Provision for income tax | -884,106 | -530,010 | 66.81% |
| Profit for the period | 1,997,914 | 1,022,863 | 95.33% |
Copyright The Pakistan Affairs News
