ISLAMABAD, Sept 24: The Pakistan Telecommunications Company (PTCL) declared here on Wednesday that it has earned a total revenue of Rs61bn in the financial year 2007-08.

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, 2008.

In assessing the financial performance, the board was informed that decrease in profit was mainly due to its Voluntary Separation Scheme (VSS) which had cost the company around Rs24 billion.

The operating costs without VSS this year was Rs45 billion which had been decreased as compared to the Rs47 billion reported last year, loss of Rs2.8 billion was reported due to heavy VSS expense.

PTCL had recently introduced IPTV service in Pakistan.

The meeting observed that the company had a renewed commitment to provide efficient and state of the art telecom services to its customers.

With the introduction of new services, PTCL was proactively developing ways to meet the needs of customers and was demonstrating its commitment to provide quality services at affordable prices.