Press Releases

PTCL earns revenue of Rs. 61 billion for financial year 2007-08

September 24, 2008

Islamabad: Pakistan Telecomunication Company limited (PTCL) has announced its financial results here today for the year ended on June 30, 2007. The board of Directors of PTCL met here to review and approve the audited financial statements of the Company for the year ended on June 30, 2007.

PTCL has earned total revenue of 61 billion for 2007-08 financial year. In assessing the financial performance the Board was informed that decrease in profit is mainly due to its Voluntary Separation Scheme which had cost the company around Rs. 24 billion.

The operating cost without VSS this year was Rs. 45 billion which has been decreased as compared to the Rs. 47 billion reported last year, loss of 2.8 billion reported due to heavy VSS expense.

PTCL has recently introduced IPTV service in Pakistan. The customers response is tremendous. PTCL has a renewed commitment to provide efficient and state of the art telecom services to its customers. With the introduction of these new services PTCL is proactively developing ways to meet the needs of its customers and is demonstrating its commitment to provide quality services at affordable prices.

The privatization of PTCL and the transfer of control to the new owner, Etisalat carries important implications for the company. Etisalat has announced an aggressive 5-year expansion plan for the company and is viewing options to re-structure the organization, improve customer care, increase revenue, enhance cost control and change the mindset of employees to bring about a positive change in the operations and running of the company.

Media

PTCL earns revenue of Rs. 61 billion for financial year 2007-08