Islamabad: Pak Datacom Ltd. has released its financial results for the quarter ended September 30, 2024, revealing a mix of declines in revenue and profits compared to the previous year. The company held its board meeting on October 22, 2024, at its headquarters in Islamabad, where several key financial decisions were made, including the non-distribution of dividends or bonus shares.

During the quarter, Pak Datacom reported revenue of 287.16 million rupees, a decrease from the 375.59 million rupees recorded during the same period last year. The company's gross profit also saw a reduction, coming in at 85.24 million rupees compared to 132.64 million rupees in the third quarter of 2023.

According to information available from the Pakistan Stock Exchange (PSX), the board of directors decided against issuing any interim dividends, bonus shares, or right shares, reflecting a cautious approach amid financial tightening. This decision comes in the wake of a notable drop in profit before taxation, which stood at 54.40 million rupees, down from 93.67 million rupees in the prior year.

The cost of services for the quarter was reported at 201.92 million rupees, which contributed to an operating profit of 32.74 million rupees after accounting for administrative and marketing expenses, along with other income totaling 21.66 million rupees. Pak Datacom's profit after taxation amounted to 38.47 million rupees, resulting in earnings per share of 3.24 rupees, down from 5.61 rupees per share in the third quarter of 2023.

These financial metrics highlight the challenges faced by Pak Datacom in maintaining its profitability and revenue streams amidst fluctuating market conditions. The company's cautious stance on shareholder returns mirrors its current focus on stabilizing financial performance.