PTCL sees 12% decline in Q1 profit

28 Oct 2005

The Pakistan Telecommunications Company (PTCL) has announced a 12% drop in profit for its fiscal first quarter ending September 2005. During the three months, net profit fell to PKR5.53 billion (USD92.63 million), down from PKR6.28 billion a year earlier. The company attributed the decline to rising competition in the fixed line sector over the last year which has meant it has had to cut prices in order to hold onto customers. Although the market was opened up to competition in January 2003, PTCL has only just begun to see any real threat to its dominant position in the market.

Pakistan, Pakistan Telecommunication Company Limited (PTCL)