Corporate Result: PTCL profits sink by 25.5% in 3rd Quarter

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In a latest notification to the PSX< Pakistan Telecommunication Company Ltd (PSX:PTC) has announced the Financial result for the Quarter ended September 30, 2020, in which the company witnessed Profit After Tax of Rs. 4.06 Bn, showing a decline of 25.5% in YoY basis. The company also announced the EPS of Rs. 0.80.

Net Sales of the company slightly declined by 0.74% to Rs. 53.3Bn. However, the Cost of sales was increased by 3.83% that translated into the Lower Gross Profit of Rs. 11.2 Bn, showing a decline of 14.8% YoY basis.

The Finance Cost inched up by 1.92% to Rs. 238.2 Mn. Furthermore, the company’s Administrative Expenses was recorded at Rs. 4.83 Bn, showing an increase of 1.62% YoY basis.

Tax Expenses also declined by 25.5% to Rs. 4.06 Bn as compared to the Taxes of last year.

The company earnings declined by 25.5% mainly due to the Lower Gross Profit and declining Operating Profit of Rs. 2.53 Bn (42.9% down).