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'SAMENA Daily' - News

PTCL Group registers 14% revenue growth in first quarter of 2024

Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, announced its financial results for the quarter ending March 31, 2024. The announcement was made during a Board of Directors (BoD) meeting in Islamabad.

In Q1 2024, PTCL Group upheld its momentum and strengthened its position as a leading telecom service provider in the country. Revenue growth was largely due to strong performance in the consumer segment, boosted by considerable growth in Fixed Broadband, Business Solutions, and Mobile Data.

PTCL Group’s revenue has increased by 14 percent YoY to Rs49 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale and Business Solutions. The Group has posted a net loss of Rs4.8 billion which is 16 percent lower YOY.

PTCL continued its growth by posting 13 percent YoY revenue growth in Q1, 2024. PTML’s (Ufone) revenue grew by 27 percent compared to Q1, 2023. PTCL continued its strong performance throughout Q1, this year. It achieved revenue of Rs26 billion for this quarter, which is 13 percent higher than last year, mainly driven by growth in fixed line and business solutions segments.

Flash Fiber, PTCL’s premium Fiber-To-The-Home service, continued to show tremendous growth with the highest Net adds share within the FTTH market (since December 2023) and now stands as the leading FTTH service provider in Pakistan. The company has posted an operating profit of three billion rupees, which is 32 percent higher as compared to the same quarter of 2023. Ithas posted a net profit of Rs431 million.

PTCL Consumer Business

PTCL’s aggressive deployment of FTTH and the impressive performance of the corporate segment are the cornerstones for the topline growth. Continuing from the previous quarters, its strategic focus remained on enhancing customer experience by providing the fastest and most reliable internet services under its flagship ‘Flash Fiber’ Fiber-To-The-Home brand, which boosted the company as one of the top FTTH operators in the industry with a majority share of the market’s net adds. Its fixed broadband business has shown 22 percent YoY growth while voice grew by 4 percent YoY.

PTCL Business Solutions

The Business Solutions segment continued its momentum sustaining market leadership in IP Bandwidth, Data Center, Cloud, and other ICT services segments. PTCL’s Business solutions revenue has gone up by 9 percent on a quarterly basis despite the addition of LDI operators and the US Dollar to PKR parity improvement.

Ufone 4G registered a YoY growth of 27 percent in topline in Q1 2024 supported by strong network expansion and strategic initiatives in Q1 2024. 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. Ufone 4G continued its network modernization activities to provide unmatched customer experience across Pakistan.