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Pakistan telecom

PTCL declares 5pc decline in annual profit to Rs6.03 billion

KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Wednesday announced a five percent decline in annual profit for the period ended December 31, 2020.

According to financial results, the company announced after tax profit of Rs6.03 billion for the year 2020 as compared with the profit of Rs6.35 billion in the preceding financial year.

The company declared earnings per share at Rs1.18 for the year ended on December 31, 2020 as compared with Rs1.24 in the preceding year.

The company had announced no cash dividend or bonus share for the year under review.

The gross profit of the company fell to Rs14.99 billion for the year 2020 as compared with Rs16.98 billion in the preceding financial year, showing a decline of 11.72 percent.

Administrative expenses of PTCL were almost flat at Rs6.7 billion as compared with Rs6.75 billion a year ago.