PTCL earns Rs. 58.96 billion in revenue in first half of 2016

ISLAMABAD - Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom services provider has earned Rs. 58.96 billion in revenue during the first half of 2016, marking a considerable increase on the company's revenue of Rs. 36.2 billion during the corresponding period last year.

The revenue figures collected till June 30, 2016, were announced in a Board of Directors meeting held on Wednesday. A 10% interim cash dividend was announced for shareholders during the meeting, said a press release.

According to data, PTCL's DSL broadband revenues increased compared considerably on last year. Nevertheless, revenues from Voice services remained stagnant mainly due to deregulation of ICH.

PTCL operating expenses during the period were cut by 4% compared with the same period last year due to effective cost-cutting measures. The net earnings of the company stood at Rs. 5.6 billion.

Although the PTCL Group’s net profit before taxation has increased by 34% compared with the same period last year, the net profit after tax showed a slight decrease of 2% due to increased minimum tax requirements.