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Pakistan : PTC gains PAT at Rs8.2 billion for 1H2014

July 17, 2014

For the first half 2014 (1H2014), a consolidated profit after tax (PAT) at Rs8.2 billion for the first half 2014 (1H2014), has been reported by Pakistan Tele communication Company (PTC).

The profit transformed into earnings per share (eps) at Rs1.62 and represented improvement of 4.4pc over the PAT at Rs7.9bn and eps at Rs1.54 in the corresponding period of the last year.

The PTC board that rose with first big ticket corporate result for the season also declared an interim cash dividend at Re1 per share.

The PTC earnings were in line with our expectations . PTC posted PAT at R3.9bn in 2QCY14 alone.

During the latest half year, the company revenues increased by 4.7pc to Rs68.5bn while cost of sales surged to Rs42.5bn. Resul­tantly, gross margins imp­roved by 1pps to 37.3pc.

As per Muhammad Tahir Saeed at Topline Securities, We attribute increase in revenues to the growth in cellular and broadband subscribers with major increase in EVO wireless segment .

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Source: TendersInfo (India)

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