PTCL Group Reports 15% YoY revenue growth
Islamabad, Oct 15, 2024: Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, has announced its financial results for the quarter ending Sep 30, 2024. The announcement was made during a Board of Directors meeting held in Islamabad.
In 2024, PTCL Group upheld its momentum and strengthened its position as a major telecom service provider in Pakistan.
PTCL Group Key Highlights
- PTCL Group’s revenue has increased by 15.3% YoY to Rs 160.6 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale & Business Solutions.
- The Group has reported an operating profit of Rs. 1.6 billion and a net loss of Rs. 15.3 billion.
PTCL Highlights
PTCL continued its strong performance throughout 2024. PTCL achieved revenue of Rs 79.5 billion during the first nine months of 2024, which is 11.1% higher than same period of last year, mainly driven by growth in fixed line, wholesale & business solutions segments. The company has posted an operating profit of Rs 8.2 billion during the first nine months of 2024, which is 27.6% higher as compared to the same period of 2023. The company has posted net profit of Rs 1 billion during the period.
PTCL’s aggressive deployment of Fiber-To-The-Home (FTTH) are the cornerstones for the topline growth. Continuing from the past quarters, PTCL’s strategic focus remained on enhancing customer experience by providing the fastest and most reliable internet services under its flagship ‘Flash Fiber’ FTTH brand, which boosts PTCL as one of the leading FTTH operator in the industry with majority share of the market’s net adds. PTCL’s fixed broadband business has shown 20.4% YoY growth, whereas PTCL Flash Fiber showed unprecedented growth of 111.5% YoY. PTCL’s focus on FTTH deployment has yielded impressive results, cementing our position as the leading FTTH operator with over 600K FTTH subscribers, we are committed to delivering exceptional customer experiences.
The business services segment maintained its growth, cementing leadership in IP bandwidth, Cloud, Data Center and ICT services in addition to showing promising results in carrier & wholesale and international business. PTCL enterprise business grew by 38.3% vs the same period of previous year. During the reported period, PTCL business services fortified its commitment as the innovation partner for businesses and provided state of the art hosting and digitalization solutions to multiple enterprise and government bodies. Bank al Habib, Punjab Safe City, Ministry of Hajj and Controller General of accounts are some of the noteworthy milestone engagements.
PTCL group continued its successful foray into digital content offerings with the live streaming of Wimbledon on Shoq. This milestone marks a significant step in PTCL Group’s strategy to expand its digital footprint and cater to the growing demand for online content.
PTML – Ufone 4G Highlights:
Ufone 4G posted a YoY growth of 25.6% in topline during first nine months of 2024 supported by solid network expansion and strategic initiatives. This growth has been possible due to better customer experience and digital engagement through multiple data-centric products and strategic partnerships with leading digital platforms enhances digital engagement. Ufone 4G’s impressive growth is a testament to our commitment to customer experience and digital innovation. Ufone has been successful in growing the base at an accelerated pace, surpasses 26 Mn overall base and 16 Mn 4G base mark in the month of Aug’24.
Ufone 4G is making significant strides in enhancing comprehensive digital ecosystem through the integration of various value-added services (VAS) within its key digital products. By incorporating Golootlo, Waada, Shoq and UCloud services into its leading digital products, Ufone is providing a more comprehensive and enriched experience for its customers. PTML’s digital brand onic is making steady strides in the industry by providing customers with a complete digital ecosystem for an enhanced experience.
Ufone Introduces ‘Roam Like Home’ – Seamless International Roaming in 27 Destinations. An innovative international roaming service, offering hassle-free data and voice buckets in 27 popular destinations. This convenient and affordable solution enables Ufone subscribers to stay connected while traveling abroad, without worrying about excessive roaming charges.
In Q3’24, PTCL Group signed Pakistani javelin star Arshad Nadeem as brand ambassador, who went on to win Gold in Paris Olympics 2024. The initiative aligns with PTCL Group’s long-term commitment to support and celebrate national heroes by highlighting their stories of struggle and triumph to inspire the youth. PTCL Group proudly partners with Pakistan Hockey Team. As the national telecom carrier, PTCL Group is dedicated to celebrating and enhancing the vibrant legacy of Pakistan hockey. This partnership aims to elevate the sport, bolster national pride, and showcase Pakistan’s continued excellence on the global stage.
Corporate Social Responsibility:
PTCL Group signed an MoU with ConnectHear for a GSMA project under which Ufone 4G will provide free data for the ConnectHear app. This will allow deaf individuals to access interpreters and receive early warning video messages during disasters, enhancing communication and safety for the deaf community.
As part of its flagship Ba-Ikhtiar Program, PTCL Group, in partnership with the Pakistan Poverty Alleviation Fund, submitted a grant application to UN Women for a PKR 713 million women empowerment project in Pakistan. The initiative aims to equip women in key districts of Punjab and Sindh with advanced digital skills and tools, fostering their economic independence and growth.
Additionally, PTCL Group provided a year of free broadband connectivity to the IT Incubation Center of Hope Uplift Foundation in Lahore, a non-profit that educates underserved students in IT-related courses, helping them secure meaningful employment.
