ISLAMABAD:
The Pakistan Tobacco Company announced its results for the third quarter of 2014, declaring a net turnover of Rs27.6 billion, an after tax profit of Rs4.096 billion and earnings per share (EPS) of Rs16.03. The company has also declared an interim dividend of Rs3.
The company contributed Rs55.8 billion to the national kitty in the form of duties and taxes, a 23% increase over the same period last year and is even higher than its net turnover growth of 21%.
While revenues show an increasing trend, the illegal cigarette trade is becoming a grave concern as it is causing a huge loss to the exchequer.
According to an independent research, Pakistan has one of the highest incidences of illegal cigarettes that causes a loss of more than Rs20 billion to every year.
Published in The Express Tribune, October 23rd, 2014.
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