The Pakistan Telecommunication Company Limited (PTCL) made a profit of Rs. 1.76 billion in the first quarter of 2016. This number is 147% higher than what was earned in the first quarter of last year.
More precisely, the telecommunication company earned 35 paisas per share as compared to 14 paisas last year. In terms of revenue, it was below 29 billion PKR approximately as compared to 30 billion PKR. The gross profit was recorded to be 8.38 billion PKR as compared to 8.51 billion PKR. The ‘other income’ has actually caused this surge in PTCL’s profits. Their other income was declared at Rs2.35 billion against Rs852.37 million last year, higher by 176 percent.
These numbers show a drastic increase in PTCL’s performance. Last year, PTCL made profits of only 716 million in the first quarter. That low performance continued throughout the year and they closed 2015 with only Rs. 1.86 billion in profits.
According to analysts, the new leadership at PTCL is straightening up the firm and similar large numbers of profits are expected in the next two quarters. PTCL is likely to maintain stability by venturing into various subsidiaries to steady their revenue.
Corporate services have become an emerging sector for the firm and it is expected that they will use it to the best of their abilities. PTCL Group is likely to invest into integrated solutions, taking advantage of their advanced data services. The firm is focusing on creating more value for its customers and is refining its increasingly efficient and widespread network.