PTCL, OGDC and PPL record impressive growth

Pakistan Telecommunication Ltd, Oil and Gas Development Company and Pakistan Petroleum Ltd have reported healthy growth in their net incomes for the nine months ended March 31, because of higher sales and reduction in financial charges. The trend setters of the market PTCL, OGDC and PPL announced their financial results for the period, informing shareholders and other investors through notifications to the Karachi Stock Exchange, on Monday.
The net income of PTCL posted a growth of nine percent to Rs 21.319 billion from Rs 19.526 billion in same period last year. The earning per share moved up to 4.18 rupees per share from 3.83 rupees of the corresponding period last year.
According to an analyst, the company's net income was higher because of the volumetric growth after PTCL cut call rates, connection charges and fixed line rent. Slashing of rates helped boost the number of subscribers and according to analysts the fixed line recorded growth, settling at around 5 million users at the end of third quarter of this fiscal year from 4.8 million at the beginning.
The OGDC earnings denoted an increase of 47 percent in the nine months ended March 31 to Rs 24.416 billion, up from Rs 16.587 billion. The earning per share of the company during the period was 5.68 rupees a share as against 3.86 rupees a share in the same period preceding year.
The company declared a dividend of 1.75 rupees per share or 17.5 percent for the third quarter ended March 31, bringing a total pay-out to 4.75 rupees a share or 47.5 percent from 2.75 rupees or 27.5 percent during the corresponding period last year.
Higher gas production and price contributed towards boosting the earnings of the company. The production was higher as throughput from two fields was in full swing. Dealers were of the view that the OGDC would maintain the winning streak and by the end of the current fiscal year post a handsome growth.
The PPL earning showed an increase of 31 percent to Rs 6.196 billion during July 04 to March 05 period as compared to Rs 4.742 billion in corresponding period a year ago.
Increased gas wellhead prices were the major factor behind increase in profit of the company. The earning per share of the company settled around 9.03 rupees per share, increasing from 6.92 rupees in corresponding period last year.