PTCL declares 14.5% decline in annual net profit

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has declared 14.5 percent decline in net profit for the year 2019.

According to financial results submitted to Pakistan Stock Exchange (PSX), the company announced net profit of Rs6.347 billion for the calendar year ended December 31, 2019 as compared with Rs7.422 billion profit in the preceding year.

The earnings per share for the year of the company also came at Rs1.24 as compared with the EPS of Rs1.46 declared in the last year.

A final cash dividend for the year ended December 31, 2019 was at Re0.50 per share i.e. 5 percent. This is in addition to the interim dividend already paid at Re0.5 per share i.e. 5 percent.

The gross profit of PTCL was recorded at Rs16.98 billion for the year 2019 as compared with Rs53.53 billion in the previous year.

Administrative and general expenses of the company was at Rs6.76 billion in 2019 as compared with Rs6.257 billion in the preceding year.

PTCL declared operating profit at Rs4.94 billion as compared with Rs6.51 billion.

The profit before tax was recorded at Rs9.33 billion for the year 2019 as compared with Rs10.757 billion in the preceding year.

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