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PTCL Profits Down 2.2% 2016


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PTCL Profits Down 2.2% 2016
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zeeshanshafi
Senior Proud Pakistani
Senior Proud Pakistani


Joined: 19 Jan 2016
Posts: 2284

PTCL Profits Down 2.2% 2016



Confronting diverse difficulties and operational issues, PTCL Group neglected to maintain its gainful development amid the second 50% of 2016. Its benefits declined by 2.2 percent when contrasted and a year ago's comparing period.

As indicated by money related results discharged by the organization, PTCL Group posted a benefit of Rs 3.163 billion in the main portion of 2016 as against Rs 3.935 billion reported in the principal half of 2015.

The cut in benefit development was driven by slow gainfulness of the Group because of waning monetary execution in the second quarter, which took a considerable plunge by 45 percent from earlier year's quarter.

It merits saying that in the main quarter of 2016 the Group figured out how to post a record development of 146% gainfulness versus the main issue of the earlier years.

second Quarter Performance of 2016

The quarter of April-June saw a benefit of Rs 1.324 billion in 2016 when contrasted with Rs 2.447 billion in benefits for that months of 2015.

The Group incomes descended by 3.4% in the principal half of 2016 on year-on-year premise, remaining at 58.9 billion. It gives a between time money profit of Rs 1 for each offer to its shareholders.

PTCL Company Stats

PTCL Company benefit without its backup, for example, Ufone and U Microfinance bank, went around 8 percent. It secured a benefit of Rs 5.565 billion in the main portion of 2016 when contrasted with Rs 6.07 billion benefit recorded in the comparing time of 2015.

Challenges



One of the known difficulties reported by organization's legitimate is that PTCL Group repaid billion of rupees because of annuity raise for its resigned or ex-representatives in the second quarters.

The augmentation in the annuity was a piece of the administration declaration under the Federal Budget 2015-16, which it actualized late however needed to pay out the updated benefits scale to its about 40,000 ex-representatives.

The new initiative of PTCL which accepted its office ahead of schedule in 2016 will have devise an arrangement to alleviate diverse issues and difficulties that the Group and its auxiliaries are confronting.

Keeping in mind the end goal to keep up development in benefit with extension of administrations and operations in the nation in which distinctive operations are offering rivalry to its brands in the field of phone and broadband administrations, PTCL has its assignment cut out for it.
Thu Jul 21, 2016 12:57 pm View user's profile Send private message
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