Pakistan Telecommunication Company Limited (PTCL), the largest ICT services provider in Pakistan, on Tuesday announced its annual results for the year 2014, riding on the back of its growing fixed and wireless broadband business. Of the total 2014 revenues of Rs 81.5 billion earned by PTCL, the broadband revenues significantly increased by 34 percent.
The Company's profitability remained stable in spite of extraordinary expenses on account of a successfully completed voluntary separation scheme as well as losses due to fire and floods. PTCL's group revenues for the year stood at Rs 129.9 billion. The financial results for the year ended 31st December, 2014 were announced at the Company's Board of Directors (BoD) meeting held on Monday in Islamabad. PTCL cash flows remain healthy and stable due to the consistent growth in the subscriber base and strong market position.
The Board of Directors has declared 25 percent final cash dividend inclusive of 10 percent interim dividend. Walid Irshaid, President & CEO PTCL commented, "PTCL's revenue growth during the past year is a strong indicator of our dynamic corporate direction as well as our customers' continued satisfaction and trust of our shareholders."
"PTCL is in a strong position to lead the telecom industry towards a brighter future, our broadband and corporate services portfolio performed exceptionally well in 2014. To cater to the increasing data needs of Pakistan, PTCL also introduced the next generation wireless broadband in Pakistan." Irshaid further added. The Company's market share in the fixed and wireless broadband and specialised telecom solutions segments has increased significantly during FY2014.-PR