Tuesday, November 30, 2021

PTCL Q3 profit up 41pc

ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) profit increased 41 percent to Rs1.925 billion during the quarter ended September 30, 2021, translating into earnings per share (EPS) of Re0.38, a bourse filing said on Monday.

PTCL earned Rs1.366 profit with EPS of Re0.27 during the quarter ended September 30, 2020. The company did not announce any cash dividend. Nine-month profit was Rs5.665 billion during the year, compared with Rs4.069 billion in July-September 2020.

Revenue grew 7.3 percent, owing to a robust commercial strategy that cements its market standing, a company statement said. U Bank continued its growth momentum and has achieved 23 percent growth in revenue. PTML (Ufone) also posted revenue growth of 4.6 percent despite stiff competition in the market.

PTCL Group delivered robust financial and operational performance and posted a net profit of Rs3.7 billion as compared to Rs1.6 billion for the same period of last year. The company is upgrading its existing infrastructure and network, besides expanding FTTH across the country to offer seamless connectivity for greater customer experience.

Prompt deployment of FTTH and strong performance in corporate and wholesale segments are the cornerstone in PTCL’s topline growth, which along with focus on cost optimisation programme, has significantly increased the company’s profitability, the statement added.

Source: The News

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