On July 18, PTCL (Pakistan Telecommunication Company Limited), the country’s famous telecom And ICT service provider has announced their financial results for the half year ended June 30, in its Board of Directors’ meeting held in Islamabad.
As per reports, PTCL raised profit by 38.90% during the period. As per the notification to Pakistan Stock Exchange (PSX) reported the profit of Rs. 5.18 billion in the first six months of the year as compare to the previous year of the same duration the profit was of Rs. 3.73 billion.
During the first half of 2022, Pakistan’s leading telecommunications company successfully managed to keep the momentum the top line growth, which helps in further building up as an integrated telecom services provider in Pakistan.
The strong revenue generated by the PTCL because of strong performance in the consumer segment led by fixed broadband, network data, business solutions with microfinance services that supported the firm in achieving 5.7% increase in profit over the modified period including the challenges of the increase in the AIT (Advance Income Tax) and deduction in MTR (Mobile Termination Rates)
However, the same firm has reported a loss of Rs. 3.05 billion during the first six months as compared to the profit of Rs. 2.93 billion in the same tenure.
Firm’s revenue of Rs. 40.0 billion for the period is 4.7% higher as compare to 2021 as it’s mainly generated by the growth in broadband and business solutions.
PTCL has reported an operating profit of Rs. 1.9 billion.
