PTC contributes Rs15b to national exchequer in Q1

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Salim Ahmed

Lahore

Pakistan Tobacco Company Limited (PTC), has contributed Rs. 15 billion to the National Exchequer in the form of Excise Duty, Sales Tax, Income Tax and Custom Duties during first quarter of 2017 ended at March 31, 2017. The Company has announced its results for first quarter of 2017, whereby it posted a net turnover of Rs. 7,356 million and earnings per share of Rs 5.93.
The Chairman of PTC stated that it has been a difficult period for the Company. Illicit cigarette trade has seen an alarming rise, causing a decline in legitimate industry volumes. In the first quarter of this year, PTC has seen a decline in volumes by 48% compared to the first quarter of last year, 2016.