PC House (PCH) said this week its net profit after tax in the four months ended on July 31, 2010 has increased by 119% to Rs. 56.3 million whilst total revenue rose 38% to Rs. 1.07 billion.
PCH said the recent growth in the industry coupled with its internal initiatives have helped the company to post strong profits.
PCH Chairman S.H.M. Rishan stated: "We are extremely pleased with our performance thus far, especially given that the first 4 months are usually the slowest for our Industry. These results vindicate what we have been saying all along, that we have everything in place to lead the ICT Industry into the future."
This aggressive financial performance comes on the heels of its hugely successful IPO preceded by a strategic corporate re-branding.
"We have always focused on raising the bar in terms of ICT-related development. We have also invested heavily in the development of our human resources and in efficiency related training programmes. All these factors have played a decisive role in defining our current financial performance and will undoubtedly drive further growth in the future as well," Rishan added.
PCH benefitted greatly from the prevailing low interest rate environment that has resulted in finance costs reducing by Rs. 30.7 million or 42% when compared with the same period last year. The profits from operations, that is profits before finance costs and taxes, increased by a very encouraging 17% to Rs. 129.8 million. This performance has resulted in PCH having a Return on Equity of 25.2%, up from 13.2% last year.