PTCL profit falls

Pakistan Telecommunication Company Limited (PTCL) has announced a consolidated net profit of Rs1.188 billion for the quarter ended March 31, 2017, showing a fall of 32.8 percent as compared to the profit of Rs1.768 billion during the same quarter of the last year.

The earnings per share clocked in at 23 paisas for the period under review as against 35 paisas last year. The company did not announce any payouts along with the corporate results.  The earnings came below market expectations and resultantly PTCL’s scrip lost 1.18 percent at the local bourse on Thursday.  Revenues of the company stood at Rs28.835 billion for the quarter ended March 31, 2017 as compared to the sales of Rs29.344 billion during the corresponding period of the last year.