Pakistan Telecommunication Company Limited (PTCL), the largest ICT service provider in Pakistan, on Tuesday announced strong first quarter results 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%, 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 were Rs. 33.4 billion for the period ended March 31, 2014, an increase of 4% 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 & CEO PTCL expressed his pleasure at this strong performance of the company adding that, “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 overall leadership in the industry,” added Walid Irshaid.