Hence, the earning per share was Rs 1.08, as compared to Rs 1.23 of the corresponding quarter of last year.
According to a press release issued here on Friday, the unaudited accounts of PTCL for the first quarter ended 30 September 2005 were approved by the Board of Directors of the company in a meeting held on Thursday, October 27.
The company''s total revenue for the first quarter was Rs 17.7 billion as compared to Rs 18.2 billion of the corresponding period of last year.
The domestic revenues were Rs 15.9 billion compared to Rs 14.3 billion last year showing an increase of Rs 1.5 billion (10.5 percent). International revenue, however, showed a decline of 51.7 percent owing to reduction in the average settlement rate and provision for contribution to Universal Service Fund on international revenue for traffic terminated on mobile networks. The impact was further aggravated as the international incoming traffic decreased by 37 percent due to new LDI Operators and mobile Operators carrying their own international traffic.
The operating expenses increased by 7.8 percent as compared to the expenses of the same period of last year. This increase was mainly due to a sizeable increase in the employee-related cost and due to increased WLL marketing cost.
Effective July 1, 2005, the new salary package agreed with the workers representatives on the eve of PTCL privatisation bid in June 2005 came into effect with consequential adverse impact on the retirement and other costs.
Profit after tax for the quarter ended September 30, 2005 was Rs 5.5 billion as compared to Rs 6.3 billion for the similar period last year. Hence, the earning per share was Rs 1.08 as compared to Rs 1.23 of the corresponding quarter last year.
The Board was pleased to note that PTCL''s subsidiaries had shown improved performance as compared to the first quarter last year. PTML (Ufone), PTCL''s 100 percent owned subsidiary added over 1.1 million new subscribers during the July to September 2005 quarter, making its total subscriber base in excess of 3.3 million as of end September 2005 and earned a net profit of Rs 389 million. Similarly, TIP also made a marginal profit against a loss of Rs 8 million in the first quarter last year.
Overall, the consolidated first quarter Profit After Tax of PTCL Group at Rs 5.9 billion (Earning per share of Rs 1.16) was only 4 percent lower than Rs 6.2 billion (earning per share of Rs 1.21) earned in the same period last year. As of writing of this report, the process of PTCL''s privatisation is still underway. The Board noted that PTCL and its employees had contributed Rs 100 million towards various initiatives taken to rehabilitate the earthquake victims.
PTCL contribution included cash donations of Rs 66 million, 180 Thuraya satellite Public Calling telephone sets and 500 tents and other required materials. In addition, the Company provided over 100 public telephone connections free of cost in remote areas.
Numerous PTCL staff members were mobilised to restore telecom services in the affected areas in the shortest possible time that managed to restore the entire network within ten days of the earthquake.
PTCL had already donated 180 satellite phones in the earthquake areas. The phones had been handed over to SCO, which is responsible for telecom services.-PR