Pakistan Telecommunication Company Limited (PSX: PTC) reported a wider after-tax loss of Rs14.15 billion in 2023, an increase from the Rs10.49 billion loss recorded in the previous year. Despite this, the company saw a 25.75% rise in revenue, reaching Rs190.61 billion, up from Rs151.58 billion in 2022.
While the cost of sales grew by 26.50%, leading to a 22.88% increase in gross profit to Rs38.64 billion, gross margins slightly declined to 20.27% from 20.74%. The company's other income nearly doubled, rising by 96.70% to Rs30.61 billion.
However, administrative and general expenses, along with finance costs and other expenses, witnessed significant increases of 26.27% and 73.98%, respectively. Tax payments also rose by 5.56% to Rs6.47 billion.
Despite revenue growth, escalating expenses and higher taxes have contributed to the company's increased losses, highlighting the need for strategic financial management.
