PTCL Group Posts 15% YoY Revenue Growth

Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, has announced its financial results for the quarter ending September 30, 2024. The announcement was made during a Board of Directors meeting held in Islamabad.

Strong Performance in 2024

In 2024, PTCL Group maintained its momentum and reinforced its position as a major telecom service provider in Pakistan.

ALSO READ: Pakistan’s SME Sector Holds $40-$60 Billion Export Potential: Minister

PTCL Group Revenue Growth

PTCL Group’s revenue has increased by 15.3% year-over-year (YoY) to Rs. 160.6 billion, primarily driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale and Business Solutions. The Group reported an operating profit of Rs. 1.6 billion and a net loss of Rs. 15.3 billion.

PTCL Performance Highlights

PTCL achieved revenue of Rs. 79.5 billion during the first nine months of 2024, marking an 11.1% increase compared to the same period last year. This growth was mainly driven by the fixed line, wholesale, and business solutions segments. PTCL posted an operating profit of Rs. 8.2 billion during the first nine months of 2024, a 27.6% increase compared to the same period in 2023. The company also reported a net profit of Rs. 1 billion during this period.

PTCL’s aggressive deployment of Fiber-To-The-Home (FTTH) is a cornerstone of this growth. The company’s flagship ‘Flash Fiber’ FTTH brand has established PTCL as one of the leading FTTH operators with a majority market share of net additions. PTCL’s fixed broadband business saw a 20.4% YoY growth, while PTCL Flash Fiber experienced unprecedented growth of 111.5% YoY. With over 600K FTTH subscribers, PTCL is committed to delivering exceptional customer experiences.

The business services segment also maintained growth, cementing leadership in IP bandwidth, Cloud, Data Center, and ICT services, with promising results in carrier & wholesale and international business. PTCL’s enterprise business grew by 38.3% compared to the same period last year. PTCL business services have fortified their commitment as the innovation partner for businesses, providing state-of-the-art hosting and digitalization solutions to multiple enterprise and government bodies, including Bank al Habib, Punjab Safe City, Ministry of Hajj, and Controller General of Accounts.

PTCL Group also expanded its digital content offerings, marked by the live streaming of Wimbledon on Shoq, enhancing its digital footprint and catering to the growing demand for online content.

PTML – Ufone 4G Highlights

Ufone 4G posted a YoY growth of 25.6% in topline during the first nine months of 2024, driven by solid network expansion and strategic initiatives. Enhanced customer experience and digital engagement through multiple data-centric products and partnerships with leading digital platforms contributed to this growth. Ufone surpassed 26 million overall base and 16 million 4G base mark in August 2024.

Ufone 4G is enhancing its comprehensive digital ecosystem by integrating various value-added services (VAS) within its key digital products. The inclusion of Golootlo, Waada, Shoq, and UCloud services offers customers a more enriched experience. PTML’s digital brand onic is also making steady strides, providing a complete digital ecosystem for enhanced user experiences.

Ufone introduced ‘Roam Like Home’ – a seamless international roaming service in 27 destinations, offering hassle-free data and voice packages to keep subscribers connected abroad without worrying about excessive charges.

In Q3 2024, PTCL Group signed Pakistani javelin star Arshad Nadeem as a brand ambassador, who went on to win Gold in the Paris Olympics 2024. This initiative aligns with PTCL Group’s commitment to support and celebrate national heroes. PTCL Group also partners with the Pakistan Hockey Team to elevate the sport, bolster national pride, and showcase Pakistan’s excellence on the global stage.

Corporate Social Responsibility

Leveraging its extensive network, PTCL Group, in collaboration with UNICEF and NEOC, conducted an awareness campaign in selected districts of Balochistan, Khyber Pakhtunkhwa, and Sindh. The campaign informed communities about the ongoing polio vaccination drive, urging parents to vaccinate their children and contributing to the mission of a polio-free Pakistan.

ALSO READ: Engro Fertilizers Posts Rs. 17.9 Billion Profit for 9 Months of 2024

PTCL Group signed an MoU with ConnectHear for a GSMA project under which Ufone 4G will provide free data for the ConnectHear app, enabling 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.