PTCL Faces Massive Loss of Rs 14.3b

Staff Report:
Pakistan Telecommunication Company Limited (PTCL) continues to face massive losses which amounted to Rs 14.39 billion in year ending on December 31, 2024.

The company had faced a loss of Rs Rs16.73 billion in 2023.

According to a notice issued to the Pakistan Stock Exchange (PSX) on Wednesday, PTCL group had sustained a loss of Rs Rs2.82 per share that stood at Rs3.28 per share in 2023.

PTCL has registered a loss of Rs 20.9 billion before tax compared to Rs22.9 billion in 2023.

During the year, the company has witnessed increase in operating expenses up to Rs51.3 billion that were higher by 27% compared to Rs40.5 billion in 2023.

PTCL has recorded an operating profit of Rs6.12 billion against Rs2.3 billion in 2023.

Meanwhile, in a statement, PTCL Group claimed that it achieved impressive double-digit revenue growth of 17% during the financial year 2024. The Group’s robust performance solidifies its position as Pakistan’s top integrated telecom service provider.

PTCL Group posted revenue of Rs 219.7 billion, driven by robust growth in consumer segments including fixed broadband & mobile data and wholesale & business solutions. PTCL posted 12% YoY revenue growth, maintaining its upward trajectory.

Ufone (PTML) reported a 25% YoY revenue growth. The continuous strong topline growth and cost optimization measures over last few years has helped Ufone get back into positive operating profit with a strong EBIT of Rs 4.6 billion.

U Microfinance Bank (U Bank) has been honored as the Best Microfinance Bank for Islamic Retail Banking Offerings in Pakistan 2024 at the 10th Islamic Retail Banking Awards (IRBA) hosted by Cambridge IFA.

The signing of SPA for acquisition of 100% shares of Telenor Pakistan by PTCL was announced in December 2023. The closing of the transaction is subject to regulatory approvals as well as customary terms and conditions and is expected to take place during the first half of 2025.

PTCL’s revenue soared to Rs 107.7 billion, marking a 12% increase from 2023, fueled by robust growth in fixed-line, wholesale, and business solutions.

Flash Fiber, PTCL’s premium FTTH service, dominated the market in 2024, capturing the significant share of the industry net adds.

The company reported an operating profit of Rs 12.2 billion, reflecting a 55% growth over last year, and a net profit of Rs 4.8 billion for 2024.

PTCL’s aggressive FTTH expansion has fueled its remarkable topline growth. Building on last year’s momentum, PTCL prioritized delivering the fastest and most reliable internet services through its flagship FTTH brand “Flash Fiber”. This customer-centric approach has cemented PTCL’s position as a market leader, capturing the majority share of net additions (captured ~50% of industry net adds) in the FTTH segment. The fixed broadband business achieved 20% YoY growth, while Flash Fiber posted an unprecedented YoY growth of 104%. With over 650K FTTH subscribers, PTCL’s ongoing FTTH expansion continues to yield outstanding results, solidifying its industry leadership.