PTCL revenues grows 3% in Q2 2017
PTCL, a subsidiary of Etisalat Group, announced the financial results for the first half of 2017 in its Board of Directors’ meeting on July 19, 2017.
A sequential growth of 3% was recorded in PTCL’s revenue in Q2 17 over Q1 17. Revenue from PTCL’s flagship Broadband service increased over same period last year. Likewise, wholesale services and international revenues also increased. Excluding the one-off expenditures, the operating expenses were reduced by 2% in a like to like manner. PTCL’s profit after tax during the period, excluding the impact of one-off items, reduced by 7% over same period last year mainly due to decrease in voice and EVO revenue and lower non-operating income.
PTCL Group earned Rs. 58.5 billion revenue during first half of 2017. Excluding the one-off expenditures, the operating expenses were increased by 1% over the same period last year. The Group’s profit after tax increased by 27% over corresponding period of last year mainly due to successful settlement of certain legal issues during the period.
In the year 2017, marking 70 years of service to the nation, PTCL continued with the ambitious transformation of its network and in this regard several more exchanges have been fully transformed with the latest technologies enabling provision of high-end data services up to 100 Mbps speed. PTCL also successfully launched its flagship Charji wireless broadband service in Azad Jammu & Kashmir with encouraging customer response. During the period, a new submarine cable viz. AAE-1 (Asia Africa Europe-1), of which PTCL is a consortium member, was launched with connectivity from Hong Kong to France. The AAE-1, which is in addition to the three existing submarine cables, will considerably augment PTCL‘s capacity to satisfactorily meet the ever-increasing bandwidth demand in Pakistan. The Company also continues to modernize its shops and other customer service touch points to ensure the subscribers are provided with excellent service all the time.