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Project Report On ( PAKISTAN
TELECOMMUNICATION COMPANY LIMITED
By MOAZAM IFTIKHAR & SYEDA SEEMAB
Department Of Business Management Faculty Of Sciences Faisalabad Institute Of Textile &Fashion Design Faisalabad
)
“An
project
in
report
partial
fulfillment
requirement for Bachelor in Business & Administration
“To our
submitted
of
to
the
”
whose unconditional love & support helped us in
making this project . To my Teacher
for their
corporation and assistance. To our siblings for their gentle encouragement & valuable support”
• VISION • MISSION • INTRODUCTION • HISTORICAL BACKGROUND • DIRECTOR & SECRETARY • BOARD OF DIRECTORS • MANAGEMENT SUMMARY • PROGRESS SUMMARY • ANALAYSIS OF PERFORMANCE • PERFORMANCE MEAURES • INVESTMENT ANALAYSIS
• FINANCIAL ANALAYSIS
Introduction From the humble beginnings of Posts & Telegraph Department in 1947 and establishment of Pakistan Telephone & Telegraph Department in 1962, to this very day, ours is a story of commitment and vision. Pakistan Telecommunication Corporation (PTC) set sails for its voyage of glory in December 1990, taking over operations and functions from Pakistan Telephone and Telegraph Department under Pakistan Telecommunication Corporation Act 1991. This coincided with the Government's competitive policy, encouraging private sector participation and resulting in award of licences for cellular, cardoperated payphones, paging and, lately, data communication services. Pursuing a progressive policy, the Government in 1991, announced its plans to privatize PTC, and in 1994 issued six million vouchers exchangeable into 600 million shares of the would-be PTCL in two separate placements. Each had a par value of Rs. 10 per share. These vouchers were converted into PTCL shares in mid-1996. In 1995, Pakistan Telecommunication (Reorganization) Ordinance formed the basis for PTCL monopoly over basic telephony in the
country. It also paved the way for the establishment of an independent regulatory regime. The provisions of the Ordinance were lent permanence in October 1996 through Pakistan Telecommunication (Reorganization) Act. The same year, Pakistan Telecommunication Company Limited was formed and listed on all stock exchanges of Pakistan
Since then, PTCL has been working vigorously to meet the dual challenge of telecom development and socio-economic uplift of the country. This is characterized by a clearer appreciation of ongoing telecom scenario wherein convergence of technologies continuously changes the shape of the sector. A measure of this understanding is progressive measures such as establishment of the company's mobile and Internet subsidiaries in 1998. As telecommunication monopolies head towards an imminent end, services and infrastructure providers are set to face even bigger challenges. Pakistan also entered post-monopoly era with deregulation of the sector in January 2003. On the Government level, a comprehensive liberalization policy for telecom sector is in the offing. PTCL is in full awareness of the same, and future policies feature a strong conviction of healthy competition. The company is in process of enhancing organizational and business proficiency through vertical integration and horizontal diversification. At the same time, cross-national ownerships, operations and partnerships are being evaluated with a view to developing and diversifying the business.
Historical Background 1947
Posts & Telegraph Dept. established
1962
Pakistan Telegraph & Telephone Deptt.
1990-91
Pakistan Telecom Corporation ALIS: 850,000 Waiting list : 900,000 Expansion Program of 900,000 lines initiated (500,000 lines by Private Sector Participation 400,000 lines PTC/GOP own resources).
1995
About 5 % of PTC assets transferred to PTA,FAB & NTC.
1996
PTCL Formed listed on all Stock Exchanges of Pakistan
1998
Mobile & Internet subsidiaries established
2000
Telecom Policy Finalized
2003
Telecom Deregulation Policy Announced
President & Company Secretary
Name
Designation
Mr. Walid Mohamed Ahmad Suleiman President & CEO Irshaid
Ms. Farah Qamar
Company Secretary
Board of Directors
Mr. Farrakh Qayyum Chairman PTCL Board Secretary IT, Ministry of Information Technology Government of Pakistan Islamabad
Mr. Abdulrahim Abdulla Abdulrahim Al Nooryani Executive Vice President Contracts and Administration
Mr. Tanwir Ali Agha Secretary, Ministry of Finance Government of Pakistan
Etisalat, UAE
Islamabad
Mr. Abdulaziz Ahmed Saleh Ahmed Al Sawaleh
Mr. Noor-ud-Din Baqai
Chief Human Resource Officer Etisalat, UAE
Member (Telecom) Ministry of Information Technology Government of Pakistan Islamabad Mr. Ahsanullah Khan Ambassador Embassy of Pakistan Abu Dhabi, UAE
Mr. Fadhil Mohamed Erhama Al Ansari General Manager Networks Services Etisalat, UAE
Mr. Abdulaziz Hamad Omran Taryam
Mr.Saood hamad Al Junaibi
General Manager Northern Emirates Etisalat, UAE
Ms. Farah Qamar Company Secretary PTCL Headquarters, G-8/4 Islamabad
Top Management
Mr. Walid Mohamed Ahmad Suleiman Irshaid (President & Ceo)
Senior Executive Vice Presidents
Mr. Salim Al Akbary SEVP HR & Admn
Mr. Mashkoor Hussain SEVP Operations
Mr. Amiruddin SEVP Information Technology
.
Mr. Akhtar Hanif Aziz SEVP Special Project
Executive Vice Presidents
Mr. Zomma Mohiuddin EVP Corporate Strategy
Mr. Jamil A.Khwaja EVP Corporate Services
Mr. Muhammad Iqbal Waseem Syed Ali Qadir Gilani EVP Business Development EVP Corporate Communications
Mr. Muhammad Faiz-urRehman EVP Accounts
Mr. Sher Bahadar Khan EVP International Business Relations
CH. Shaukat Ali EVP (ADMN)
Mr. Shaukat Hayat EVP Development
.
Mr. Zubair A. Tonio EVP Development (South, Karachi) .
Mr. A.D. Raza EVP Operations(Central, Lahore)
Mr. Nafees Ahmad Siddiqui EVP Operations (South, Karachi)
Mr. Aftab Ahmed Chishti EVP I/Audit
.
Syed Ubaid Hussain Shah EVP Procurement
Mr. Abdul Qayyum EVP Quality Assurance
Mr. Fuad Imran Khan EVP Information Technology
Mr. Pervez Akhtar EVP (T&SP)
Mr. Shabbir Hussain EVP Consumer Services
Mr. Tariq Qureshi EVP Commercial Planning & Support
Mr. PERWAIZ MD TF Islamabad
Mr. NEHMATULLAH MD PTET Islamabad
Mr. GUL BAHADAR YOUSAF ZAI MD TIP HARIPUR
.
Progress Summary of Past Five Years.
PROFIT BEFORE TAXATION:
2001…
RS. (m)
32,132
2002…
RS. (m)
33,329
2003…
RS. (m)
37,588
2004…
RS. (m)
44,034
2005…
RS. (m)
39,751
2006…
RS. (m)
31,310
PROFIT BEFORE TAXATION. 2005…
RS. ( m )
39,751
2006…
RS. ( m )
31,310
40,000 35,000 30,000 RS. (M)
25,000 2005 2006
20,000 15,000 10,000 5,000 0
2005
2006
The cause of decline of profit in year 2006 is raise in the administrative and selling expenses.
PROFIT AFTER TAXATION:
2001…
RS. (m)
18,155
2002…
RS. (m)
19,812
2003…
RS. (m)
23,081
2004…
RS. (m)
29,170
2005…
RS. (m)
26,606
2006…
RS. (m)
20,777
PROFIT AFTER TAXATION.
RS. (m)
2005…
RS. ( m )
26,606
2006…
RS. ( m )
20,777
30000 25000 20000 15000 10000 5000 0
2005 2006 2005 2005
2006
Analysis of past and current year performance.
SALES ANALYSIS…
Revenue 80 70 60
RS. (Billions)
2001 2002 2003 2004 2005 2006
50 40 30 20 10 0
2001 2002 2003 2004 2005 2006
PROFIT ANALYSIS…
Operating and Net Profit
45 40 35 30 RS. (Billions)
Operating profit Net Profit
25 20 15 10 5 0
2001
2003
2005
Profitability and Performance Measures.
(G.P) Gross profit Margin:
Gross profit
2005…
%
47.80
2006…
%
39.60
/ Sales
GROSS PROFIT MARGIN. 2005 G.P
/ SALES
=
36,363,724 47.80 %
/ 75,972,363 RS. ( B )
2006 27,397,518 39.60 %
50 45 40 35 30 25 20 15 10 5 0
/ 69,085,436
2005 2006
2005
2006
The G.P margin is low in year 2006 as compared to year 2005 it is because of less sale in 2006 and more operating cost / cost of good sold in year 2006.
Net Profit Margin:
Net Profit
2001…
%
29.26
2002…
%
29.83
2003…
%
34.35
2004…
%
39.35
2005…
%
35.02
2006…
%
30.07
/ Sales
NET PROFIT MARGIN. 2005 NET INCOME
/ SALES =
26,605,657 35 %
/ 75,972,363 RS. ( B )
2006 20,777,430 30 %
/ 69,085,436
35 34 33 32 2005 2006
31 30 29 28 27
2005
2006
Earning Per Share:
Total Earning
2001…
RS.
3.56
2002…
RS.
3.88
2003…
RS.
4.53
2004…
RS.
5.72
2005…
RS.
5.22
2006…
RS.
4.07
/ No. of shares
Investment Analaysis. (R.O.A) RETURN ON ASSETS:
Operating Income
2001…
%
23.22
2002…
%
24.04
2003…
%
28.69
2004…
%
38.51
2005…
%
36.47
2006…
%
27.98
/ Total Assets
RETURN ON ASSETS. 2005 OPERATING INCOME
/ TOTAL ASSETS = 36,363,724 36.47 %
/ 1,36,077,997 2006
27,397,518 27.98 %
/ 152,240,022
40 35 30 25 2005 2006
20 15 10 5 0
2005
2006
Return on asset is less in year 2006 as compared to year 2005 cause operating income of 2006decline as compared to year 2005.
(R.O.E) RETURN ON EQUITY:
Net Income – Preffered Dividend
/ Common Stock Outstanding
2001…
%
23.51
2002…
%
23.33
2003…
%
24.75
2004…
%
28.20
2005…
%
25.43
2006…
%
20.21
A / R TURNOVER / DEBTOR`S TURNOVER:
Net Sales
/ Avg A/R
Avg reciev. = opening recieveables + closing recieveables
2001…
Times
3.34
2002…
Times
3.73
2003…
Times
4.60
2004…
Times
4.32
2005…
Times
4.90
2006…
Times
4.30
/2
INVENTORY TURNOVER:
C.G.S
/ Avg Inventory.
2005…
Times
11.99
2006…
Times
12.33
INVENTORY TURNOVER. 2005 C.G.S
/ AVG. INVENTORY =
39,608,639 / 3,326,622 11.9 Times 2006 41,687,918 / 3,381,150.5 12.33 Times
12.4 12.3 12.2 12.1 2005 2006
12 11.9 11.8 11.7 11.6
2005
2006
FINANCIAL ANALAYSIS.
CURRENT RATIO:
Current Assets
2001…
Times
1.21
2002…
Times
1.72
2003…
Times
2.02
2004…
Times
2.78
2005…
Times
1.90
2006…
Times
1.66
/ Current Liabilities.
CURRENT RATIO. 200 5 CURRENT ASSETS
/ CURRENT LIABILITES = 39,462,575 /50,168,177 1.90 Times 200
6
/
20,805,953 30,275,532 1.66 Times
1.9 1.85 1.8 1.75 2005 2006
1.7 1.65 1.6 1.55 1.5
2005
2006
ASSET TEST RATIO
/ QUICK RATIO :
Quick Assets
/ Current Liabilities.
Quick Assets = ( Current Assets – Inventory )
2001…
Times
1.15
2002…
Times
1.61
2003…
Times
1.91
2004…
Times
2.67
2005…
Times
1.74
2006…
Times
1.54
DEBT RATIO:
Total Liabilities
2005…
%
26.50
2006…
%
30.70
/ Total Assets.
DEBT RATIO. 2005 TOTAL LIABILITIS
/ TOTAL ASSETS = / 136,077,997
36,063,966 26.5 %
2006 46,764,558 30.7 %
/ 152,240,022
31 30 29 28
2005 2006
27 26 25 24
2005
2006
EXPECTED RESULT OF THE PROJECT.
SUMMING UP THE WHOLE ANALYSIS OF THE PTCL COMPANY WE CONCLUDE THAT PROFIT OF THE COMPANY DECLINE IN THE YEAR 2006 COMPARTIVELY IN YEAR 2005 AND THE PROFIT MAXMISING IS ONE OF THE BASIC OBJECTIVES OF COMPANY SO WE HAVE TO WORK EVEN HARDER TO TAKE THE COMPANY TOWRADS THE NEW HORIZONS OF PROGRESS.
TELECOMMUNICATION COMPANY LIMITED
By MOAZAM IFTIKHAR & SYEDA SEEMAB
Department Of Business Management Faculty Of Sciences Faisalabad Institute Of Textile &Fashion Design Faisalabad
)
“An
project
in
report
partial
fulfillment
requirement for Bachelor in Business & Administration
“To our
submitted
of
to
the
”
whose unconditional love & support helped us in
making this project . To my Teacher
for their
corporation and assistance. To our siblings for their gentle encouragement & valuable support”
• VISION • MISSION • INTRODUCTION • HISTORICAL BACKGROUND • DIRECTOR & SECRETARY • BOARD OF DIRECTORS • MANAGEMENT SUMMARY • PROGRESS SUMMARY • ANALAYSIS OF PERFORMANCE • PERFORMANCE MEAURES • INVESTMENT ANALAYSIS
• FINANCIAL ANALAYSIS
Introduction From the humble beginnings of Posts & Telegraph Department in 1947 and establishment of Pakistan Telephone & Telegraph Department in 1962, to this very day, ours is a story of commitment and vision. Pakistan Telecommunication Corporation (PTC) set sails for its voyage of glory in December 1990, taking over operations and functions from Pakistan Telephone and Telegraph Department under Pakistan Telecommunication Corporation Act 1991. This coincided with the Government's competitive policy, encouraging private sector participation and resulting in award of licences for cellular, cardoperated payphones, paging and, lately, data communication services. Pursuing a progressive policy, the Government in 1991, announced its plans to privatize PTC, and in 1994 issued six million vouchers exchangeable into 600 million shares of the would-be PTCL in two separate placements. Each had a par value of Rs. 10 per share. These vouchers were converted into PTCL shares in mid-1996. In 1995, Pakistan Telecommunication (Reorganization) Ordinance formed the basis for PTCL monopoly over basic telephony in the
country. It also paved the way for the establishment of an independent regulatory regime. The provisions of the Ordinance were lent permanence in October 1996 through Pakistan Telecommunication (Reorganization) Act. The same year, Pakistan Telecommunication Company Limited was formed and listed on all stock exchanges of Pakistan
Since then, PTCL has been working vigorously to meet the dual challenge of telecom development and socio-economic uplift of the country. This is characterized by a clearer appreciation of ongoing telecom scenario wherein convergence of technologies continuously changes the shape of the sector. A measure of this understanding is progressive measures such as establishment of the company's mobile and Internet subsidiaries in 1998. As telecommunication monopolies head towards an imminent end, services and infrastructure providers are set to face even bigger challenges. Pakistan also entered post-monopoly era with deregulation of the sector in January 2003. On the Government level, a comprehensive liberalization policy for telecom sector is in the offing. PTCL is in full awareness of the same, and future policies feature a strong conviction of healthy competition. The company is in process of enhancing organizational and business proficiency through vertical integration and horizontal diversification. At the same time, cross-national ownerships, operations and partnerships are being evaluated with a view to developing and diversifying the business.
Historical Background 1947
Posts & Telegraph Dept. established
1962
Pakistan Telegraph & Telephone Deptt.
1990-91
Pakistan Telecom Corporation ALIS: 850,000 Waiting list : 900,000 Expansion Program of 900,000 lines initiated (500,000 lines by Private Sector Participation 400,000 lines PTC/GOP own resources).
1995
About 5 % of PTC assets transferred to PTA,FAB & NTC.
1996
PTCL Formed listed on all Stock Exchanges of Pakistan
1998
Mobile & Internet subsidiaries established
2000
Telecom Policy Finalized
2003
Telecom Deregulation Policy Announced
President & Company Secretary
Name
Designation
Mr. Walid Mohamed Ahmad Suleiman President & CEO Irshaid
Ms. Farah Qamar
Company Secretary
Board of Directors
Mr. Farrakh Qayyum Chairman PTCL Board Secretary IT, Ministry of Information Technology Government of Pakistan Islamabad
Mr. Abdulrahim Abdulla Abdulrahim Al Nooryani Executive Vice President Contracts and Administration
Mr. Tanwir Ali Agha Secretary, Ministry of Finance Government of Pakistan
Etisalat, UAE
Islamabad
Mr. Abdulaziz Ahmed Saleh Ahmed Al Sawaleh
Mr. Noor-ud-Din Baqai
Chief Human Resource Officer Etisalat, UAE
Member (Telecom) Ministry of Information Technology Government of Pakistan Islamabad Mr. Ahsanullah Khan Ambassador Embassy of Pakistan Abu Dhabi, UAE
Mr. Fadhil Mohamed Erhama Al Ansari General Manager Networks Services Etisalat, UAE
Mr. Abdulaziz Hamad Omran Taryam
Mr.Saood hamad Al Junaibi
General Manager Northern Emirates Etisalat, UAE
Ms. Farah Qamar Company Secretary PTCL Headquarters, G-8/4 Islamabad
Top Management
Mr. Walid Mohamed Ahmad Suleiman Irshaid (President & Ceo)
Senior Executive Vice Presidents
Mr. Salim Al Akbary SEVP HR & Admn
Mr. Mashkoor Hussain SEVP Operations
Mr. Amiruddin SEVP Information Technology
.
Mr. Akhtar Hanif Aziz SEVP Special Project
Executive Vice Presidents
Mr. Zomma Mohiuddin EVP Corporate Strategy
Mr. Jamil A.Khwaja EVP Corporate Services
Mr. Muhammad Iqbal Waseem Syed Ali Qadir Gilani EVP Business Development EVP Corporate Communications
Mr. Muhammad Faiz-urRehman EVP Accounts
Mr. Sher Bahadar Khan EVP International Business Relations
CH. Shaukat Ali EVP (ADMN)
Mr. Shaukat Hayat EVP Development
.
Mr. Zubair A. Tonio EVP Development (South, Karachi) .
Mr. A.D. Raza EVP Operations(Central, Lahore)
Mr. Nafees Ahmad Siddiqui EVP Operations (South, Karachi)
Mr. Aftab Ahmed Chishti EVP I/Audit
.
Syed Ubaid Hussain Shah EVP Procurement
Mr. Abdul Qayyum EVP Quality Assurance
Mr. Fuad Imran Khan EVP Information Technology
Mr. Pervez Akhtar EVP (T&SP)
Mr. Shabbir Hussain EVP Consumer Services
Mr. Tariq Qureshi EVP Commercial Planning & Support
Mr. PERWAIZ MD TF Islamabad
Mr. NEHMATULLAH MD PTET Islamabad
Mr. GUL BAHADAR YOUSAF ZAI MD TIP HARIPUR
.
Progress Summary of Past Five Years.
PROFIT BEFORE TAXATION:
2001…
RS. (m)
32,132
2002…
RS. (m)
33,329
2003…
RS. (m)
37,588
2004…
RS. (m)
44,034
2005…
RS. (m)
39,751
2006…
RS. (m)
31,310
PROFIT BEFORE TAXATION. 2005…
RS. ( m )
39,751
2006…
RS. ( m )
31,310
40,000 35,000 30,000 RS. (M)
25,000 2005 2006
20,000 15,000 10,000 5,000 0
2005
2006
The cause of decline of profit in year 2006 is raise in the administrative and selling expenses.
PROFIT AFTER TAXATION:
2001…
RS. (m)
18,155
2002…
RS. (m)
19,812
2003…
RS. (m)
23,081
2004…
RS. (m)
29,170
2005…
RS. (m)
26,606
2006…
RS. (m)
20,777
PROFIT AFTER TAXATION.
RS. (m)
2005…
RS. ( m )
26,606
2006…
RS. ( m )
20,777
30000 25000 20000 15000 10000 5000 0
2005 2006 2005 2005
2006
Analysis of past and current year performance.
SALES ANALYSIS…
Revenue 80 70 60
RS. (Billions)
2001 2002 2003 2004 2005 2006
50 40 30 20 10 0
2001 2002 2003 2004 2005 2006
PROFIT ANALYSIS…
Operating and Net Profit
45 40 35 30 RS. (Billions)
Operating profit Net Profit
25 20 15 10 5 0
2001
2003
2005
Profitability and Performance Measures.
(G.P) Gross profit Margin:
Gross profit
2005…
%
47.80
2006…
%
39.60
/ Sales
GROSS PROFIT MARGIN. 2005 G.P
/ SALES
=
36,363,724 47.80 %
/ 75,972,363 RS. ( B )
2006 27,397,518 39.60 %
50 45 40 35 30 25 20 15 10 5 0
/ 69,085,436
2005 2006
2005
2006
The G.P margin is low in year 2006 as compared to year 2005 it is because of less sale in 2006 and more operating cost / cost of good sold in year 2006.
Net Profit Margin:
Net Profit
2001…
%
29.26
2002…
%
29.83
2003…
%
34.35
2004…
%
39.35
2005…
%
35.02
2006…
%
30.07
/ Sales
NET PROFIT MARGIN. 2005 NET INCOME
/ SALES =
26,605,657 35 %
/ 75,972,363 RS. ( B )
2006 20,777,430 30 %
/ 69,085,436
35 34 33 32 2005 2006
31 30 29 28 27
2005
2006
Earning Per Share:
Total Earning
2001…
RS.
3.56
2002…
RS.
3.88
2003…
RS.
4.53
2004…
RS.
5.72
2005…
RS.
5.22
2006…
RS.
4.07
/ No. of shares
Investment Analaysis. (R.O.A) RETURN ON ASSETS:
Operating Income
2001…
%
23.22
2002…
%
24.04
2003…
%
28.69
2004…
%
38.51
2005…
%
36.47
2006…
%
27.98
/ Total Assets
RETURN ON ASSETS. 2005 OPERATING INCOME
/ TOTAL ASSETS = 36,363,724 36.47 %
/ 1,36,077,997 2006
27,397,518 27.98 %
/ 152,240,022
40 35 30 25 2005 2006
20 15 10 5 0
2005
2006
Return on asset is less in year 2006 as compared to year 2005 cause operating income of 2006decline as compared to year 2005.
(R.O.E) RETURN ON EQUITY:
Net Income – Preffered Dividend
/ Common Stock Outstanding
2001…
%
23.51
2002…
%
23.33
2003…
%
24.75
2004…
%
28.20
2005…
%
25.43
2006…
%
20.21
A / R TURNOVER / DEBTOR`S TURNOVER:
Net Sales
/ Avg A/R
Avg reciev. = opening recieveables + closing recieveables
2001…
Times
3.34
2002…
Times
3.73
2003…
Times
4.60
2004…
Times
4.32
2005…
Times
4.90
2006…
Times
4.30
/2
INVENTORY TURNOVER:
C.G.S
/ Avg Inventory.
2005…
Times
11.99
2006…
Times
12.33
INVENTORY TURNOVER. 2005 C.G.S
/ AVG. INVENTORY =
39,608,639 / 3,326,622 11.9 Times 2006 41,687,918 / 3,381,150.5 12.33 Times
12.4 12.3 12.2 12.1 2005 2006
12 11.9 11.8 11.7 11.6
2005
2006
FINANCIAL ANALAYSIS.
CURRENT RATIO:
Current Assets
2001…
Times
1.21
2002…
Times
1.72
2003…
Times
2.02
2004…
Times
2.78
2005…
Times
1.90
2006…
Times
1.66
/ Current Liabilities.
CURRENT RATIO. 200 5 CURRENT ASSETS
/ CURRENT LIABILITES = 39,462,575 /50,168,177 1.90 Times 200
6
/
20,805,953 30,275,532 1.66 Times
1.9 1.85 1.8 1.75 2005 2006
1.7 1.65 1.6 1.55 1.5
2005
2006
ASSET TEST RATIO
/ QUICK RATIO :
Quick Assets
/ Current Liabilities.
Quick Assets = ( Current Assets – Inventory )
2001…
Times
1.15
2002…
Times
1.61
2003…
Times
1.91
2004…
Times
2.67
2005…
Times
1.74
2006…
Times
1.54
DEBT RATIO:
Total Liabilities
2005…
%
26.50
2006…
%
30.70
/ Total Assets.
DEBT RATIO. 2005 TOTAL LIABILITIS
/ TOTAL ASSETS = / 136,077,997
36,063,966 26.5 %
2006 46,764,558 30.7 %
/ 152,240,022
31 30 29 28
2005 2006
27 26 25 24
2005
2006
EXPECTED RESULT OF THE PROJECT.
SUMMING UP THE WHOLE ANALYSIS OF THE PTCL COMPANY WE CONCLUDE THAT PROFIT OF THE COMPANY DECLINE IN THE YEAR 2006 COMPARTIVELY IN YEAR 2005 AND THE PROFIT MAXMISING IS ONE OF THE BASIC OBJECTIVES OF COMPANY SO WE HAVE TO WORK EVEN HARDER TO TAKE THE COMPANY TOWRADS THE NEW HORIZONS OF PROGRESS.
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