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STAFF REPORT ISB: PTCL, the largest ICT services provider in Pakistan, has announced strong second quarter results riding on the back of its growing fixed and wireless broadband business. The company announced revenues of Rs 42.8 billion for the period ended June 30, 2014, an increase of 7 per cent over the same period of last year, while gross and net profit of the company stood at Rs 15.3 and Rs 6.9 billion respectively. The Board of Directors has declared 10 percent interim cash dividend.
PTCL cash flows remain healthy and stable due to the consistent growth in the subscriber base and strong market position. PTCL Group earned revenue of Rs 68.5 billion during the reported period, showing an increase of 5 percent over the same period last year. Net profit of Rs 8.2 billion was recorded, while gross profit was recorded at Rs 25.6 billion, an increase of 7 per cent over last year.
Walid Irshaid, President and CEO PTCL expressed his pleasure at the strong performance of the company and said, “Our robust second quarter results again demonstrated the ability of our diversified line of business to perform to the expectation of our shareholders”.
He also said that despite intensified competition in the telecom market, we have continued to outperform and raise the bar even further for the industry to follow.