PTCL sees downfall in first quarter profit, earned Rs.0.14 per share

Pakistan Telecommunication Company Limited (PTCL) has recently unveiled the quarterly report of current fiscal year 2015 which exhibits that its earnings have been dropped by 84 percent as compared to the last year. More precisely, during the first quarter (Jan-March) of this calendar year, PTCL received a consolidated profit-after-tax of Rs.716.4 million with earnings per share at Rs0.14. PTCL However, the figure stood at Rs. 4.4 billion with Rs. 0.85 earnings per share in the same quarter last year, which is something disheartening. The group revenues have been announced to reach Rs. 30.2 billion for the time slot ended in March 31, 2015 while PTCL earned revenue of Rs. 19.2 billion during the said period. Net profit was recorded at Rs. 2.5 billion, reported Dawn. The gross profit amounted to Rs. 6.1 billion and thus this is the domain which witnessed growth of 542 basis points to 28.2pc quarter-on-quarter (QoQ). A statement by the company while focusing on the gross profit while ignoring the losses, said that: “PTCL cash flows remained strong owing to the steady growth in the subscriber base and strong market position backed by the company’s growing fixed and wireless broadband business.” It is important to note that, PTCL is consistently suffering from downfall in terms of profit-after-tax and earnings per share since last year as revealed by the annual report of the fiscal year 2014, according to which its earnings dropped unbelievably by 75% throughout the year, recording an after-tax profit of only Rs. 4 billion or Rs0.78 per share, compared to Rs. 14.7 billion or Rs. 3.09 per share the company received in 2013.