PTCL Group Posts 3.2% Revenue Growth in Q1, 2022

By Warsi


 Islamabad: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the quarter ended March 31, 2022, at its Board of Directors’ meeting held in Islamabad on April 13, 2022.

During the first quarter of 2022, PTCL Group successfully managed to keep the topline growth momentum, which has further strengthened its market standing as an integrated telecom services provider in Pakistan. Growth in revenue is mainly driven by strong performance in the consumer segment led by Fixed Broadband, Mobile Data, Business Solutions, and Microfinance services that supported the Group in achieving 3.2% growth in revenues over the comparative period despite the challenges of increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR).

PTCL Group Highlights

  • PTCL Group’s revenue of Rs 35.1 billion in Q1, 2022 is 3.2% higher as compared to the same period of last year.
  • The Group’s profitability remained under pressure due to significant hike in power tariffs, devaluation of the Pak Rupee against USD, higher interest rates, and other factors like upfront costs associated with the acquisition of 4G spectrum and related network rollout. The Group has posted a net loss of Rs 1.6 billion.
  • PTCL continued its growth by posting 3.5% YoY revenue growth in Q1, 2022.
  • PTML’s (Ufone) revenue grew by 1% YoY as compared to Q1, 2021.
  • U Bank continued its growth momentum and has achieved a 13% growth in its quarterly revenue over the same period of last year.

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