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)|
|Cost of services||-24,042,384||-21,858,708||9.99%|
|Administrative and general expenses||-4,858,483||-4,434,533||9.56%|
|Selling and marketing expenses||-1,623,494||-1,748,705||-7.16%|
|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%|
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