April 14, 2022 (MLN): Pakistan Telecommunication Company Limited (PSX: PTC) has unveiled its financial results for the quarter ended on March 31, 2022, on Wednesday, whereby the company has suffered a net loss of Rs1.5 billion against a net profit of Rs1.6bn, the company’s filling on PSX showed.
PTC’s sales revenue inched up by 3.21% YoY to stand at Rs35bn while the 10.82% increase in the cost of sales squeezed the gross margins of the company from 27.46% in 1QCY21 to 22.12% in 1QC22.
Moreover, an increase in administrative and general expenses and selling expenses by 4.84% YoY and 12.23% YoY respectively also contributed to weakening the financial stability of the company.
The other income rose by 18.43% YoY to Rs3.56bn in the review period.
On the back of tightening monetary policy, the finance cost of the company jumped by 93.51% YoY to Rs6bn in 1QCY22.
|
Consolidated Financial Results for the Quarter ended March 31, 2022, ended ('000 Rupees) |
|||
|---|---|---|---|
|
Mar-22 |
Mar-21 |
%Change |
|
|
Revenue |
35,051,051 |
33,959,997 |
3.21% |
|
Cost of services |
(27,299,214) |
(24,633,475) |
10.82% |
|
Gross profit |
7,751,837 |
9,326,522 |
-16.88% |
|
Administrative and general expenses |
(4,609,941) |
(4,397,138) |
4.84% |
|
Selling and marketing expenses |
(2,160,518) |
(1,925,009) |
12.23% |
|
Impairment loss on trade debts and contract assets |
(668,106) |
(630,957) |
5.89% |
|
(7,438,565) |
(6,953,104) |
6.98% |
|
|
Operating Profit |
313,272 |
2,373,418 |
-86.80% |
|
Other income |
3,565,315 |
3,010,570 |
18.43% |
|
Finance cost |
(6,038,655) |
(3,120,622) |
93.51% |
|
(Loss)/Profit before tax |
(2,160,068) |
2,263,366 |
– |
|
Provision for income tax |
601,601 |
(656,560) |
– |
|
(Loss)/Profit for the period |
(1,558,467) |
1,606,806 |
– |
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