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PTCL revenue and net profit fall amidst increased competition

2 Nov 2009

Pakistan’s incumbent fixed line operator, Pakistan Telecommunication Company Ltd (PTCL), has released its financial results for the three months ended 30 September 2009, posting a 19.2% decline in net profit for the period. PTCL said that increased competition and fixed to mobile substitution had affected its results, as it posted net profit of PKR2.57 billion (USD30.7 million), while revenue slumped 12.8% year-on-year to PKR14.5 billion for the three-month period. PTCL did, however, note that revenue from its fixed line broadband services had continued to climb, claiming it was twice that of the same period a year earlier, although it did not provide a detailed breakdown. In addition, PTCL also said that Pakistan Telecommunications Mobile Ltd (Ufone), its wholly-owned mobile subsidiary, had maintained strong levels of growth, posting a net profit of PKR506 million for the quarter, more than three times higher than 1Q 2008.

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