PTCL Budget

Annual Corporate Budget

Outlook 2009-10
Budget 2010-11

1

Customers - 2009-10
Variance Actual Budget Outlook Variance
A09/OL10 2008-09 Description 2009-10 2009-10 B10/OL10

% Thousand Thousand %

(11) (340) 3,210 PSTN 3,830 2,871 (959) (25)

(1) (10) 1,306 WLL 1,541 1,295 (246) (16)

(8) (350) 4,516 Total 5,371 4,166 (1,205) (22)

147 299 203 Broadband 505 502 (3) (1)

6 49 980 Blended ARPU (Rs./M.) 1,010 1,040 29 3

3

Business Highlights 2009-10
% Million Million %

(3) (1,853) 59,239 REVENUE - Gross 63,905 57,386 (6,519) (10)

(2) (982) 55,135 - Net 59,917 54,153 (5,764) (10)

0 7 44,388 OPEX 42,282 44,382 (2,099) (5)

50.3% E B I T D A Margin 55.1% 50.3%
16.6% P A T 21.1% 17.0%

7,536 CAPEX 16,191 13,809

(0) (4) 29,460 H R (Numbers) 29,723 29,464 259 1

4

Profit & Loss Account 2009-10

% Rs. Million Rs. Million %

(3) (1,853) 59,239 Gross Revenue 63,905 57,386 (6,519) (10)

21 871 (4,104) Interconnect Cost (3,988) (3,233) 755 19

(2) (982) 55,135 Net Revenue 59,917 54,153 (5,764) (10)

0 7 (44,388) Operating Expenses (42,282) (44,382) (2,099) (5)

(9) (975) 10,747 Operating Profit 17,634 9,772 (7,863) (45)

16 672 4,183 Non Operating Income 2,682 4,855 2,172 81

(2) (303) 14,930 EBIT 20,317 14,626 (5,690) (28)

53 483 (909) Financial Charges (759) (425) 333 44

1 180 14,021 EBT 19,558 14,201 (5,357) (27)

(2) (101) (4,870) Provision for Taxation (6,906) (4,970) 1,936 28

1 79 9,151 PAT 12,651 9,231 (3,421) (27)

5

Net Revenue 2009-10
A09/OL10 2008-09 Owner 2009-10 2009-10 B10/OL10
% Rs.Million Rs.Million %

(14) (3,932) 27,187 PSTN 28,358 23,255 (5,102) (18)

145 2,478 1,708 MM&BB 4,383 4,186 (197) (4)

27 1,742 6,489 International Business 7,603 8,231 628 8

(7) (160) 2,316 Wireless (W L L) 2,502 2,156 (346) (14)
565 - Evo 257 565 308 120

(15) (1,990) 13,394 Carrier & Whole Sale 9,435 11,404 1,969 21

8 314 4,041 Corporate Services 7,379 4,355 (3,024) (41)

(2) (982) 55,135 Total 59,917 54,153 (5,764) (10)

6

Owner Wise ARPU Net Revenue 2009-10
% Rs./Month Rs./Month %

2 14 624 PSTN 675 637 (38) (6)

(22) (40) 178 Wireless (W L L) 145 138 (7) (5)

2,033 - Evo 2,254 2,033 (221) (10)

(3) (32) 1,110 MM & BB 1,028 1,078 50 5

6 59 980 Blended 1,010 1,040 29 3

7

Operating Expense 2009-10
% Rs Million Rs Million %

1 166 12,792 Depreciation & Amortization 12,676 12,626 50 0
(11) (1,045) 9,868 Employment Costs 10,011 10,914 (903) (9)
0 7 5,017 Foreign Operators' Cost 4,559 5,010 (451) (10)
(40) (416) 1,036 Cable & Satellite Charges 1,329 1,452 (123) (9)
(1) (46) 3,413 Fuel & Power 3,460 3,459 1 0
41 1,266 3,066 Provision for Doubtful Debts 1,800 1,800 0 0
(17) (280) 1,654 Repairs & Maintenance 2,024 1,934 90 4
7 77 1,161 Subscribers' Acquisition Cost 606 1,083 (478) (79)
8 243 3,063 License & Regulatory Charges 3,103 2,821 283 9
(11) (89) 807 Marketing Expenses 772 897 (125) (16)
33 206 628 Rent, Rates & Taxes 558 422 136 24
23 380 1,642 Other Expenses 1,384 1,262 122 9
1 469 44,149 42,282 43,680 (1,397) (3)
(193) (462) 240 U S F Contribution - 702 (702)

0 7 44,388 Total Operating Expenses 42,282 44,382 (2,099) (5)

8

Non Operating Income 2009-10


33 1,086 3,257 Return on Deposits & Investments 2,372 4,343 1,971 83

(23) (49) 213 Late Payment Surcharge 150 164 14 9

(51) (365) 712 Miscellaneous 160 347 187 117

16 672 4,183 Total 2,682 4,855 2,172 81

9

Financial Charges 2009-10


5 14 265 Bank & Other Charges 307 251 56 18

18 34 185 Imputed Interest 151 151
11 48 450 Total 459 402 56 12

95 435 458 Exchange Loss/(Gain) 300 23 277 92

53 483 909 Total 759 425 333 44

10

Headcount 2009-10
Actual 30th Budget 30th Outlook 30th
June 2009 Description June 2010 June 2010
Employees Employees

1 President/CEO 1 1
9 SEVPs 9 8
29 EVPs 28 27
109 GMs 104 109
401 Senior Managers 300 312
930 Managers 758 1,035
1,968 Assistant Managers/MTs 2,153 2,071
25,700 Non-Management 26,057 25,589
313 Daily Wagers 313 312
29,460 29,723 29,464

11

Capex 2009-10
Actual Budget Outlook
2008-09 Description 2009-10 2009-10
Rs. Million Rs. Million

2,755 Access Network 3,364 3,106
2,304 Transport Network 1,846 2,801
94 International Communication 2,562 3,379
USF Projects 4,500 1,326
1,169 IT & Data Communication 1,850 1,483
- Training 75 26
536 Value Added Services 24 28
235 Rehabilitation 1,028 1,356
61 Buildings 263 124
7,154 Sub -Total 15,511 13,629

Unforeseen 500 -
7,154 Grand Total 16,011 13,629
382 Admin Capex 180 180
7,536 16,191 13,809

12

Customers 2010-11

Variance Actual Outlook Budget Variance
A09/OL10 2008-09 Description 2009-10 2010-11 OL10/B11

(11) (340) 3,210 PSTN 2,871 3,071 200 7

(1) (10) 1,306 WLL 1,295 1,469 174 13

(8) (350) 4,516 Total 4,166 4,540 374 9

147 299 203 Broadband 502 1,056 554 110

6 59 980 Blended ARPU (Rs./M.) 1,040 1,156 117 11

14

Business Highlights 2010-11
% Million Million %

(3) (1,853) 59,239 REVENUE - Gross 57,386 63,657 6,271 11

(2) (982) 55,135 - Net 54,153 60,397 6,244 12

0 7 44,388 OPEX 44,382 49,014 (4,632) (10)

50.3% E B I T D A Margin 50.3% 44.3%
16.6% P A T 17.0% 15.1%

7,536 CAPEX 13,809 16,343

(0) (4) 29,460 H R (Numbers) 29,464 29,381 83 0

15

Profit & Loss Account 2010-11

(3) (1,853) 59,239 Gross Revenue 57,386 63,657 6,271 11

21 871 (4,104) Interconnect Cost (3,233) (3,260) (27) (1)

(2) (982) 55,135 Net Revenue 54,153 60,397 6,244 12

0 7 (44,388) Operating Expenses (44,382) (49,014) (4,632) (10)

(9) (975) 10,747 Operating Profit 9,772 11,383 1,612 16

16 672 4,183 Non Operating Income 4,855 3,044 (1,811) (37)
(2) (303) 14,930 EBIT 14,626 14,427 (199) (1)

53 483 (909) Financial Charges (425) (389) 36 8
1 180 14,021 EBT 14,201 14,038 (163) (1)

(2) (101) (4,870) Provision for Taxation (4,970) (4,913) 57 1

1 79 9,151 PAT 9,231 9,124 (106) (1)

16

Net Revenue 2010-11
Outlook Budget
Variance A09/OL10 Actual 2008-09 Variance OL10/B11
Owner 2009-10 2010-11

(14) (3,932) 27,187 PSTN 23,255 22,776 (479) (2)

145 2,478 1,708 MM&BB 4,186 8,086 3,899 93

27 1,742 6,489 International Business 8,231 7,241 (990) (12)

(7) (160) 2,316 Wireless (W L L) 2,156 2,284 128 6

565 - Evo 565 1,230 665 118

(15) (1,990) 13,394 Carrier & Whole Sale 11,404 11,412 8 0

8 314 4,041 Corporate Services 4,355 7,368 3,013 69

(2) (982) 55,135 Total 54,153 60,397 6,244 12

17

Owner wise ARPU Net Revenue 2010-11

% Rs./Month Rs./Month %

2 14 624 PSTN 637 639 2 0

(22) (40) 178 Wireless (W L L) 138 138 (0) (0)

2,033 - Evo 2,033 1,067 (966) (48)

(3) (32) 1,110 MM & BB - Total 1,078 1,001 (76) (7)

6 59 980 Blended 1,040 1,156 117 11

18

Operating Expenses 2010-11

1 166 12,792 Depreciation & Amortization 12,626 12,351 275 2
(11) (1,045) 9,868 Employment Costs 10,914 11,132 (218) (2)
0 7 5,017 Foreign Operators' Cost 5,010 5,799 (789) (16)
(40) (416) 1,036 Cable & Satellite Charges 1,452 2,429 (977) (67)
(1) (46) 3,413 Fuel & Power 3,459 4,062 (602) (17)
41 1,266 3,066 Provision for Doubtful Debts 1,800 1,800 0 0
(17) (280) 1,654 Repairs & Maintenance 1,934 2,705 (771) (40)
7 77 1,161 Subscribers' Acquisition Cost 1,083 1,701 (618) (57)
8 243 3,063 License & Regulatory Charges 2,821 3,014 (193) (7)
(11) (89) 807 Marketing Expenses 897 1,317 (420) (47)
33 206 628 Rent, Rates & Taxes 422 469 (47) (11)
23 380 1,642 Other Expenses 1,262 1,464 (202) (16)
1 469 44,149 43,680 48,243 (4,563) (10)
(193) (462) 240 U S F Contribution 702 771 (69) (10)
0 7 44,388 Total Operating Expenses 44,382 49,014 (4,632) (10)

19

Non Operating Income 2010-11

% Rs.Million Rs Million %

33 1,086 3,257 Return on Deposits & Investments 4,343 2,685 (1,658) (38)

(23) (49) 213 Late Payment Surcharge 164 182 18 11

(51) (365) 712 Miscellaneous 347 176 (171) (49)

16 672 4,183 Total 4,855 3,044 (1,811) (37)

20

Financial Charges 2010-11
% Rs. Million Rs Million %

5 14 265 Bank & Other Charges 251 291 (40) (16)

18 34 185 Imputed Interest 151 - 151 100

11 48 450 Total 402 291 111 28

95 435 458 Exchange Loss/(Gain) 23 98 (75) (326)

53 483 909 Total 425 389 36 8

21

Headcount 2010-11
Actual 30th Outlook 30th Budget 30th
June 2009 Description June 2010 June 2011
Employees Employees

1 President/CEO 1 1
9 SEVPs 8 8
29 EVPs 27 25
109 GMs 109 104
401 Senior Managers 312 307
930 Managers 1,035 1,030
1,968 Assistant Managers/MTs 2,071 2,054
25,700 Non-Management 25,589 25,540
313 Daily Wagers 312 312
29,460 29,464 29,381

22

Capex 2010-11
Actual Outlook Budget
2008-09 Description 2009-10 2010-11
Rs Million Rs Million

2,755 Access Network 3,106 6,187
2,304 Transport Network 2,801 3,120
94 International Communication 3,379 1,477
- USF Projects 1,326 1,242
1,169 IT & Data Communication 1,483 1,306
- Training 26 185
536 Value Added Services 28 1,025
235 Rehabilitation 1,356 837
61 Buildings 124 164
7,154 Sub -Total 13,629 15,543

- Unforeseen - 600
7,154 Grand Total 13,629 16,143
382 Admin Capex 180 200
7,536 13,809 16,343

23

Broadband Customers 2009-10


123 247 200 DSL 481 447 (34) (7)

1,906 52 3 EVO 25 55 30 124

147 299 203 505 502 (3) (1)

211 6 3 E V O / Corporate 15 9 (6) (43)

25

Broadband Customers 2010-11

123 247 200 DSL 447 898 451 101

1,906 52 3 EVO 55 157 103 187

147 299 203 502 1,056 554 110

211 6 3 E V O / Corporate 9 12 3 36

26

Depreciation & Amortization 2009-10
Line & Admin
Land Building A&P Total
Description Wire Assets
Rs Million

Cost of assets as at 01-07-2009 1,721 11,058 110,289 123,265 3,005 249,337
Accumulated Depreciation 23 3,325 78,463 87,781 2,014 171,606
Net Book Value as at 01-07-2009 1,698 7,732 31,826 35,484 991 77,731
Depreciable Assets As on 01-07-2009 77 11,057 69,768 66,330 1,941 149,174
Addition in 2009-10 1 119 6,489 5,456 340 12,405

Depreciation on Existing assets 1 276 4,724 6,662 246 11,908
Depreciation on new Assets 0 1 130 318 8 457
Total Depreciation for the year 1 277 4,853 6,980 254 12,365
Amortization on Intangibles 261

Total Depreciation & Amortization for the period 12,626

27

Employment Cost 2009-10

(5) (427) 8,209 Salaries And Benefits 8,379 8,635 (256) (3)

(34) (468) 1,371 Employee Retirement Costs 1,211 1,839 (628) (52)

(14) (50) 350 Medical Expenses 450 400 50 11

(682) (117) 17 Productivity Incentive 70 134 (64) (92)

20 16 (79) Secondment (100) (95) (5) (5)

(11) (1,045) 9,868 Total 10,011 10,914 (903) (9)

28

Foreign Operators’ Cost 2009-10

(9) (92) 1,077 Traffic (M.Minutes) 1,030 1,169 (138) (13)

14 0.83 5.91 Avg Rate (Cents/Min.) 5.21 5.09 0.12 2
7 4.3 63.7 Amount (M US D) 53.6 59.4 (5.8) (11)
(7) (5.53) 78.77 Conversion Rate 85.00 84.30 0.70 1
0 7 5,017 Cost (M.PKR) 4,559 5,010 (451) (10)

(11) (304) 2,776 Outgoing Revenue 2,878 2,473 (405) (14)
10 321 3,203 Mobile & Transit 2,398 3,524 1,126 47
0 17 5,979 Total 5,276 5,997 720 14

3 25 962 Contribution Margin 717 987 269 38

29

Cable & Satellite Charges 2009-10


(53) (298) 562 Cable and Other Charges 737 860 (123) (17)

(25) (117) 475 Satellite Charges 592 592 0 0

(40) (416) 1,036 Total 1,329 1,452 (123) (9)

30

Fuel & Power 2009-10

(15) (269) 1,784 Power 2,056 2,053 4 0

(3) (1) 29 Other Utilities 36 30 6 17

13 213 1,642 Fuel 1,430 1,430 0 0

25 11 (42) Capitalization (62) (53) (9) (14)

(1) (46) 3,413 Total 3,460 3,459 1 0

31

Provision for Doubtful Debts 2009-10

35 877 2,499 Domestic 1,400 1,622 (222) (16)
69 389 567 International 400 178 222 55

41 1,266 3,066 Total 1,800 1,800 0 0

5.18% % of the Provision to Gross Revenue 3.14%

32

Repair & Maintenance 2009-10

40 106 266 Buildings 180 161 19 11

(7) (49) 739 Access Network 710 788 (79) (11)

(49) (303) 624 Apparatus & Plant 1,099 927 172 16

(39) (18) 47 Admin M & T 60 65 (5) (9)

(69) (15) (21) Capitalization (24) (7) (17) (72)

(17) (280) 1,654 Total 2,024 1,934 90 4

33

Subscribers’ Acquisition Cost 2009-10

42 328 785 WLL 124 457 (333) (270)

(63) (131) 208 Broadband 307 339 (32) (11)

(406) (196) 48 Wireless Broadband 175 244 (69) (39)

64 77 120 IPTV - 43 (43)

7 77 1,161 Total 606 1,083 (478) (79)

34

License & Regulatory Charges 2009-10

(1) (2) 324 License Fees 286 326 (40) (14)

20 32 158 Spectrum Chagres 135 125 10 7

(0) (0) 40 Numbering Charges to PTA 41 40 0 1

75 52 70 PTCL Share - PTAs' LI & GT - 17 (17)

4 79 1,887 Technical Service Fee 2,092 1,808 283 14

(60) (69) 114 Software License Charges 237 183 54 23

32 151 471 Research & Development 313 320 (8) (2)

8 243 3,063 Total 3,103 2,821 283 9

35

Marketing Expenses 2009-10

(8) (41) 509 Advertisement & Publicity 451 550 (99) (22)

(15) (42) 275 Sales & Distribution Charges 290 317 (26) (9)

(27) (6) 24 Cost of Prepayment Cards 31 30 1 2

(11) (89) 807 772 897 (125) (16)

36

Rent, Rates & Taxes 2009-10

48 90 187 Rent of BTS 97 97 (0) (0)

(606) (30) 5 Rent of ONUs 44 35 9 21

47 94 199 Rent of Shared Towers 176 105 71 40

(243) (28) 12 IPTV Content Charges 110 40 70 64

33 79 236 Rates & Taxes 157 157 0 0

11 1 (11) Capitalization (26) (12) (14) (54)

33 206 628 Total 558 422 136 24

98 - IPTV Revenue 168 98 (70) (42)

37

Other Expenses 2009-10

2 7 325 Security Charges 173 318 (146) (84)
(18) (33) 186 Postage 204 220 (16) (8)
10 17 168 Traveling & Convey. Charges 169 152 17 10
11 16 148 Printing & Stationery 131 131 0 0
68 330 486 Legal And Professional Services 158 157 1 1
11 2 24 Transportation 35 21 14 40
13 3 23 Entertainment 22 20 2 9
(7) (1) 9 Petty items 12 10 2 17
73 61 83 Recovery Commission 28 22 6 20
(8) (1) 7 Communication 15 8 7 47
(9) (1) 10 Subscriptions & Fees 13 11 2 15
(121) - E-Learning Pins 121 121 0 0
53 81 153 Misc./Prov for Contingency 321 72 248 78
103 19 19 Capitalization (17) (1) (16) (97)

23 380 1,642 Total 1,384 1,262 122 9

38

Depreciation & Amortization 2010 -11
Line & Admin
Land Building A&P Total
Description Wire Assets
Rs Million

Cost of assets as at 01-07-2010 1,722 11,176 116,778 128,721 3,344 261,741
Accumulated Depreciation 24 3,602 83,316 94,761 2,268 183,971
Net Book Value as at 01-07-2010 1,699 7,574 33,461 33,960 1,077 77,770
Addition in 2010-11 3 527 4,373 9,964 180 15,046

Depreciation on Existing assets 1 279 4,789 6,094 271 11,434
Depreciation on new Assets 0 6 151 474 12 644
Total Depreciation for the year 1 285 4,941 6,568 283 12,078

Amortization on Intangibles 273
Total Depreciation & Amortization for the period 12,351

39

Employment Cost 2010 -11

(5) (427) 8,209 Salaries And Benefits 8,635 8,635 0 0

(34) (468) 1,371 Employee Retirement Costs 1,839 2,016 (177) (10)

(14) (50) 350 Medical Expenses 400 432 (32) (8)

(682) (117) 17 Productivity Incentive 134 143 (9) (7)
20 16 (79) Secondment (95) (95) 0 0

(11) (1,045) 9,868 Total 10,914 11,132 (218) (2)

40

Foreign Operators’ Cost 2010 -11

(9) (92) 1,077 Traffic (M.Minutes) 1,169 1,289 (120) (10)

14 0.829 5.91 Avg Rate (Cents/Min.) 5.09 5.00 0.09 2
7 4.3 63.7 Amount (M US D) 59.4 64.4 (5.0) (8)

(7) (5.53) 78.77 Conversion Rate 84.30 90.00 (5.70) (7)

0 7 5,017 Cost (M.PKR) 5,010 5,799 (789) (16)

(11) (304) 2,776 Outgoing Revenue 2,473 2,635 162 7
10 321 3,203 Mobile & Transit 3,524 3,839 315 9
0 17 5,979 Total 5,997 6,474 477 8

3 25 962 Contribution Margin 987 675 (312) (32)

41

Cable & Satellite Charges 2010-11


(53) (298) 562 Cable and Other Charges 860 1,748 (888) (103)

(25) (117) 475 Satellite Charges 592 681 (89) (15)

(40) (416) 1,036 Total 1,452 2,429 (977) (67)

42

Fuel & Power 2010-11

(15) (269) 1,784 Power 2,053 2,590 (537) (26)

(3) (1) 29 Other Utilities 30 34 (4) (15)

13 213 1,642 Fuel 1,430 1,493 (63) (4)

25 11 (42) Capitalization (53) (56) 3 5

(1) (46) 3,413 Total 3,459 4,062 (602) (17)

43

Provision for Doubtful Debts 2010-11


35 877 2,499 Domestic 1,622 1,680 (58) (4)
69 389 567 International 178 120 58 33

41 1,266 3,066 Total 1,800 1,800 0 0

5.18% % of the Provision to Gross Revenue 3.14% 2.83%

44

Repair & Maintenance 2010-11

40 106 266 Buildings 161 200 (39) (24)

(7) (49) 739 Access Network 788 907 (119) (15)

(49) (303) 624 Apparatus & Plant 927 1,534 (607) (65)

(39) (18) 47 Admin M & T 65 70 (5) (8)

(69) (15) (21) Capitalization (7) (5) (2) (24)

(17) (280) 1,654 Total 1,934 2,705 (771) (40)

45

Subscribers’ Acquisition Cost 2010-11

42 328 785 WLL 457 407 50 11

(63) (131) 208 Broadband 339 603 (263) (78)

(406) (196) 48 Wireless Broadband 244 471 (227) (93)

64 77 120 IPTV 43 220 (177) (411)

7 77 1,161 Total 1,083 1,701 (618) (57)

46

License & Regulatory Charges 2010-11

(1) (2) 324 License Fees 326 270 56 17

20 32 158 Spectrum Chagres 125 139 (14) (11)

(0) (0) 40 Numbering Charges to PTA 40 41 (1) (1)

52 70 PTCL Share - PTAs' LI & GT 17 21 (4) (22)

4 79 1,887 Technical Service Fee 1,808 2,042 (233) (13)

(60) (69) 114 Software License Charges 183 244 (61) (33)

32 151 471 Research & Development 320 257 63 20

8 243 3,063 Total 2,821 3,014 (193) (7)

47

Marketing Expenses 2010-11

(8) (41) 509 Advertisement & Publicity 550 600 (50) (9)

(15) (42) 275 Sales & Distribution Charges 317 683 (367) (116)

(27) (6) 24 Cost of Prepayment Cards 30 34 (4) (12)

(11) (89) 807 897 1,317 (420) (47)

48

Rent, Rates & Taxes 2010-11

48 90 187 Rent of BTS 97 109 (12) (13)

(606) (30) 5 Rent of ONUs 35 42 (7) (19)

47 94 199 Rent of Shared Towers 105 105 0 0

(243) (28) 12 IPTV Content Charges 40 63 (23) (58)

33 79 236 Rates & Taxes 157 160 (3) (2)

11 1 (11) Capitalization (12) (10) (2) (17)

33 206 628 Total 422 469 (47) (11)

98 - IPTV Revenue 98 240 143 146

49

Other Expenses 2010-11

2 7 325 Security Charges 318 318 0 0
(18) (33) 186 Postage 220 220 (1) (0)
10 17 168 Traveling & Convey. Charges 152 152 0 0
11 16 148 Printing & Stationery 131 138 (7) (5)
68 330 486 Legal And Professional Services 157 156 0 0
11 2 24 Transportation 21 23 (2) (9)
13 3 23 Entertainment 20 20 0 0
(7) (1) 9 Petty items 10 10 0 0
73 61 83 Recovery Commission 22 22 0 0
(8) (1) 7 Communication 8 10 (2) (25)
(9) (1) 10 Subscriptions & Fees 11 13 (2)
(121) - E-Learning Pins 121 - 121 100
53 81 153 Misc./Prov for Contingency 72 384 (312) (433)
(103) 19 19 Capitalization (1) (1) 1 100

23 380 1,642 Total 1,262 1,464 (202) (16)

50

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