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Pakistan Telecom’s First-Quarter Profit Falls as Revenue Drops

Pakistan Telecommunication Co., the biggest provider of fixed-line services, said first quarter profit fell 19 percent after rivals gained market share.

Net income fell to 2.08 billion rupees ($24.2 million) or 0.41 rupee a share, in the three months ended Sept. 30, from 2.57 billion rupees or 0.50 rupee a share, a year earlier, according to a statement from the Islamabad-based company to the Karachi Stock Exchange today. Revenue fell to 13.9 billion rupees from 14.5 billion.

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