Pakistan Telecommunication Company Limited (PTCL) announced that it earned Rs 28.8 billion revenue during the first quarter of 2017, the company announced its financial results after its board of directors’ meeting here on Friday.
A sequential growth of 2 per cent was recorded in PTCL’s revenue in the first quarter of 2017 over the 4th quarter of 2016. Revenue from PTCL’s flagship broadband service increased over the same quarter last year. Likewise, wholesale services and international revenues also increased. Operating expenses were reduced by 2 per cent over the same period of the last year, thanks to cost optimization measures.
Excluding a one-off individual project expenditure recorded in first quarter 2017, the operating profitability of PTCL increased by 3 per cent in a like-to-like comparison to the corresponding quarter of 2016.
PTCL earned Rs 28.8 billion revenue during the first quarter of 2017, with 1 per cent reduction in its operating expenses as well. The financial position of PTCL is quite robust as it is evident from the 9 per cent increase in cash-based funds in the form of short-term investments and cash and bank balances during the first quarter of 2017.
PTCL, marking its 70 years of service has embarked upon an ambitious transformation program for technology and customer services. PTCL network is being upgraded to provide reliable high speed internet and digital services to consumers and the corporate sector. The company is modernizing its shops and other customer service touch points.
It announced the partnership with iflix last week. PTCL customers will get a one year access to iflix – the world’s leading Subscription Video on Demand (SVoD) service for emerging markets, offering users an unlimited access to thousands of TV shows, movies and more.
