PTCL Group Reports 15% YoY revenue growth

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

In 2024, PTCL Group maintained its momentum and reinforced its position as a significant telecom service provider in Pakistan.PTCL Group Launches Pakistan’s First 800G Wavelength Division

Key Highlights of PTCL Group

• PTCL Group’s revenue has risen by 15.3% year-on-year to Rs 160.6 billion, primarily fueled by robust performance in the consumer sector, particularly in fixed broadband, mobile data, and wholesale & business solutions.
• The Group reported an operating profit of Rs. 1.6 billion but incurred a net loss of Rs. 15.3 billion.

PTCL Highlights PTCL sustained its strong performance throughout 2024, achieving a revenue of Rs 79.5 billion during the first nine months, which represents an 11.1% increase compared to the same period last year, driven mainly by growth in fixed-line, wholesale, and business solutions sectors. The company recorded an operating profit of Rs 8.2 billion during the first three quarters of 2024, which is 27.6% higher than the same timeframe in 2023, along with a net profit of Rs 1 billion.

The aggressive rollout of Fiber-To-The-Home (FTTH) is fundamental to PTCL’s revenue growth. Continuing from previous quarters, PTCL’s strategic focus remained on enhancing customer experiences by offering the fastest and most reliable internet services under its flagship ‘Flash Fiber’ FTTH brand, positioning PTCL as a leading FTTH operator in the market with a significant share of net additions. PTCL’s fixed broadband business saw a 20.4% year-on-year growth, while PTCL Flash Fiber experienced an exceptional growth of 111.5% year-on-year. This emphasis on FTTH deployment has yielded impressive outcomes, solidifying our status as the leading FTTH operator with over 600K subscribers, and we remain committed to delivering outstanding customer experiences.

The business services segment continued its growth trajectory, solidifying leadership in IP bandwidth, Cloud, Data Center, and ICT services, along with promising results in carrier, wholesale, and international business. PTCL’s enterprise business grew by 38.3% compared to the same period last year. During this reporting period, PTCL business services affirmed its role as an innovation partner for enterprises, offering state-of-the-art hosting and digitalization solutions to various corporate and government entities. Notable collaborations include Bank al Habib, Punjab Safe City, the Ministry of Hajj, and the Controller General of Accounts.

PTCL Group also advanced its foray into digital content offerings with the live streaming of Wimbledon on Shoq, marking a significant step in PTCL Group’s strategy to broaden its digital reach and meet the increasing demand for online content.

PTML – Ufone 4G Highlights: Ufone 4G achieved a year-on-year growth of 25.6% in revenue during the first nine months of 2024, supported by robust network expansion and strategic initiatives. This growth has been made possible through improved customer experiences and digital engagement via various data-centric products and strategic partnerships with leading digital platforms. Ufone 4G’s remarkable growth reflects our commitment to enhancing customer experience and digital innovation. Ufone has successfully accelerated its growth, surpassing a total user base of 26 million and reaching over 16 million 4G users by August 2024.

Ufone 4G is making significant progress in enhancing a comprehensive digital ecosystem by integrating various value-added services (VAS) within its key digital products. By incorporating Golootlo, Waada, Shoq, and UCloud services into its primary digital offerings, Ufone provides a richer and more comprehensive experience for its customers. PTML’s digital brand onic is also steadily advancing in the industry by offering customers a complete digital ecosystem for an enhanced experience.

Ufone has introduced ‘Roam Like Home’ – a seamless international roaming service in 27 destinations. This innovative service provides hassle-free data and voice packages in 27 popular locations, allowing Ufone subscribers to stay connected while traveling abroad without the burden of excessive roaming fees.

In Q3 2024, PTCL Group appointed Pakistani javelin star Arshad Nadeem as its brand ambassador, who went on to win gold at the Paris Olympics 2024. This initiative aligns with PTCL Group’s long-term commitment to support and honor national heroes by sharing their stories of struggle and success to inspire the youth. PTCL Group proudly partners with the Pakistan Hockey Team, demonstrating its dedication as the national telecom carrier to celebrate and enhance the rich legacy of hockey in Pakistan. This partnership aims to uplift the sport, strengthen national pride, and showcase Pakistan’s ongoing excellence on the global stage.

Corporate Social Responsibility: Leveraging its extensive network, PTCL Group, in collaboration with UNICEF and NEOC, launched an awareness campaign in selected districts of Balochistan, Khyber Pakhtunkhwa, and Sindh. The campaign aimed to inform communities about the ongoing polio vaccination drive and encouraged parents to vaccinate their children, contributing to the mission of achieving a polio-free Pakistan.

PTCL Group signed a memorandum of understanding with ConnectHear for a GSMA project, whereby Ufone 4G will provide free data for the ConnectHear app. This initiative will enable deaf individuals to access interpreters and receive early warning video messages during emergencies, 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. This initiative aims to equip women in key districts of Punjab and Sindh with advanced digital skills and tools, promoting their economic independence and growth.