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PTCL Witnesses 46 Percent Decrease in Q2 2016

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PTCL Witnesses 46 Percent Decrease in Q2 2016

PTCL Witnesses 46 Percent Decrease in Q2 2016 that ended on June 30, 3016. The results announced a total profit of Rs. 1.32 billion, down 46% against the Rs. 2.44 billion during the corresponding period of last year.

In this Q2 results, PTCL declared an interm cash dividend of 10%. An analyst Hamza Raza, during his interview with “The News” said that:

“Though the company had announced cash dividend, it could not attract investors, as its profits were lower than last year. It announced earnings per share of 26 paisas as compared to 48 paisas declared during the same quarter of the last year.”

PTCL Witnesses 46 Percent Decrease in Q2 2016

These results indicates that the revenue of PTCL went down to Rs. 29.61 billion from Rs. 30.80 billion. Also the cost of services from Rs. 21.91 billion to Rs. 21.56 billion; which witness a gross profit of around Rs. 8.05 billion. The gross profit for Q2, 2015 was recorded as Rs. 8.89 billion.

Also read our exclusive article on PTCL performance: PTCL : Will it turnaround…???