Pakistan Telecommunication Company Limited reports a 28 per cent fall in net profit

Pakistan Telecommunication Company Limited (PTCL) has reported a 28 per cent fall in net profit for the nine-month period ended March 31, 2006 as increased competition reportedly resulted in lower call traffic and reduced tariffs. The company registered a net profit of Rs 15.28 billion ($254.45 million) for the nine-month period, down from Rs 21.32 billion a year earlier. This comes as a disappointment to analysts who have been expecting a turnaround in the company financials with the takeover of management control of PTCL by the Dubai-based Emirates Telecommunications Corporation from the government earlier this month.