KARACHI: The Pakistan Telecommunication Company Limited (PTCL) has announced the financial results for the first quarter of 2017 and declared a sequential growth of 2 percent in PTCL’s revenue in Q1-FY17 over Q4-FY16.
Revenue from PTCL’s flagship Broadband service increased over same quarter last year. Likewise, wholesale services and international revenues also increased. Operating expenses were reduced by 2 percent over the same period of last year thanks to cost optimisation measures. Excluding a one-off individual project expenditure recorded in Q1-FY17, the operating profitability of PTCL increased by 3 percent in a like-to-like comparison to the corresponding quarter of 2016. PTCL Board of Directors’ meeting held on Thursday informed that PTCL Group earned Rs28.8 billion revenue during Q1-FY17 with 1 percent reduction in its operating expenses also. The financial position of PTCL Group’s is quite robust as is evident from 9 percent increase in cash-based funds in the form of short-term investments and cash and bank balances during Q1-FY17.
