Pakistan Telecommunication Company Ltd. - Financial Results for the Quarter Ended 31st March, 2024
No Dividend
EPS: Rs. 0.08 (substantial decline from first quarter last year, when PTC earned Rs. 1.07 per share)
Despite achieving higher turnover, gross profit, and operating profit, a surge in financial charges by more than 2.8 times eroded these gains. Consequently, profit after tax for Q1 2024 plunged to only Rs. 607 million, a steep decline from Rs. 8.67 billion in Q1 2023.
Positive Sign: The company's core business seems to be healthy. Higher turnover, gross profit, and operating profit indicate growth in sales, efficiency in production, and good management of operating expenses.
PTC today closed at Rs.15.13 losing Rs. 1.02 down 6.32%. Four months back PTC was trading below Rs. 7 per share. It rose to over Rs. 18 by the end of March this year.
Etisalat Group based in Abu Dhabi (UAE) has the controlling stake in PTC which it had acquired in privatization. Pak Telecom Mobile Limited (PTML) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) that started its operations in January 2001 under the brand name ‘Ufone 4G’.
https://dps.psx.com.pk/download/document/229248.pdf
