KARACHI, Sept 7: Pakistan Telecommunication Company Limited (PTCL) announced financial results for the year ended June 30 on Tuesday, posting unconsolidated earnings of Rs7.43 billion, which represented earning per share (eps at Rs1.46).

The company profit was down by 20 per cent over the previous year. Consolidated earnings amounted to Rs8.4bn, resulting in eps of Rs1.65.

In fourth-quarter alone, the company registered profit after tax at Rs2.46 billion (eps: Rs0.48), recording a huge rise of 71 per cent overthe same period last year. “The results came in higher than consensus estimates on account of higher other operating income of Rs3.65 billion, which registered 201 per cent jump over the earlier year,” commented Furqan Ayub, analyst at JS Global.

No dividend was declared with the results on Wednesday as the company had already paid Rs1.75 per share in the third quarter of the financial year 2011.

In FY11, the company revenue declined by three per cent over the earlier year’s revenue and stood at Rs55.25 billion, as declining fixed line subscription continued to restrict growth in topline. Operating costs on the other hand rose by 9pc to Rs41.8 billion on the back ofrising salary costs which in turn resulted in 858bps decline in gross margins.

With the company pursuing an aggressive advertising campaign, selling and marketing expenses too rose by 6pc over earlier year.

A press release by PTCL quoted company President Walid Irshaid as saying: “PTCL’s DSB Broadband is the largest and fastest growing Broadband service available in over 1000 cities and towns across Pakistan, with its market share close to 90 per cent”.