PTCL Jan-March 2014 revenues up 9% to Rs 21.1bn

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KARACHI: Pakistan Telecommunication Company Limited (PTCL), the largest ICT service provider in Pakistan on Tuesday announced strong first quarter results 2014 riding on the back of its growing fixed and wireless broadband business.
PTCL’s revenue during the period stood at Rs 21.1 billion and showed a significant increase of 9 percent, with net profit standing at Rs 3.4 billion, while gross profit was recorded at Rs 7.6 billion.
PTCL cash flows remain healthy and stable due to the consistent growth in the subscriber base and strong market position.
PTCL Group revenues was Rs 33.4 billion for the period ended March 31, 2014, an increase of 4 percent over the same period last year, while net earnings of the Group stood at Rs 4.4 billion. 
The Group’s gross profit remained Rs 13 billion.Walid Irshaid President and CEO PTCL expressed his pleasure at this strong performance of the Company and said, “Our solid first quarter results again demonstrate our ability to grow our business and perform for our customers and shareholders”.
Despite fierce competition in the telecom market, we have continued to pursue our goals with a commitment to lead the broadband market and maintain overall leadership in the industry, added Irshaid.

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