Feb 20 , 2016
News
‘PTC contributes over Rs 86bn in taxes’
Pakistan Tobacco Company (PTC) has announced its results for the year 2015 declaring net turnover of Rs 42.91 billion after tax profit of Rs 7.05 billion rupees and earnings per share of Rs 27.58. The company contributed Rs. 86.47 billion to the government exchequer in the form of duties and taxes, which is 17 percent increase over last year.
Driven by increase in excise rates, PTC took above inflation portfolio wide price increase in June’15. This has widened the price gap versus illegal cigarettes but the legitimate industry has reported a decline in volumes versus last year. However, despite a tough regulatory environment and mounting socio-economic pressures, PTC has managed to deliver good results owing to its organisational effectiveness.
Courtesy www.dailytimes.com.pk