Posts highest ever revenue
Islamabad: PTCL Group, Pakistan’s leading
telecom and ICT services provider has achieved a double-digit revenue growth of
25.8% during the financial year 2023. PTCL Group has maintained its strong
performance, strengthening its status as Pakistan’s top integrated telecom
service provider. Pakistan Telecommunication Company Limited (PTCL), posted 15.4%
growth in its revenues, owing to its strong performance in both retail and business
segments, whereas Ufone achieved 25.6% growth in its revenues. The Group’s
subsidiary, U Microfinance Bank, kept a strong momentum and posted 76.5%
revenue growth during 2023.
The company announced its annual financial results for
the year 2023 at its Board of Directors’ meeting held in
Islamabad on February 13, 2024.
Major Highlights of Financial Performance
PTCL Group
PTCL
Group’s revenue has increased by 25.8% YoY to Rs 190.6 billion, mainly driven
by strong performance in the consumer segment led by fixed broadband, mobile
data, and wholesale & business solutions, along with microfinance services.
The Group’s profitability was, among
other factors, particularly affected by significant Rupee devaluation and high
interest rates during the year. The Group has posted a net loss of Rs 14.1
billion. The biggest highlight for PTCL during 2023 has been the signing of a
Share Purchase Agreement with Telenor Pakistan B.V. (Telenor) to acquire a 100%
stake in Telenor Pakistan (Pvt) Ltd (Telenor Pakistan) based on an Enterprise
Value of PKR 108 billion on a cash-free, debt-free basis.
PTCL
PTCL continued its strong performance
throughout 2023. PTCL posted revenue of Rs 96.3 billion
for the year 2023 which is 15.4% higher than last year, mainly driven by growth
in broadband and wholesale & business solutions segments.
Flash Fiber, PTCL’s premium Fiber-To-The-Home
(FTTH) service, showed tremendous growth with highest Net adds share within
FTTH market in 2023. This phenomenal growth has been possible through the
aggressive expansion of PTCL Flash Fiber and dedicated customer experience
throughout the country.
The
company reported net profit of Rs 9.4 billion, highest since 2013, which is 3.7%
higher as compared to last year. Prompt deployment of FTTH and strong performance in Corporate and
Wholesale segments are the cornerstones in PTCL’s topline growth.
PTCL Consumer Business:
PTCL fixed broadband
business has shown 17.4% YoY growth propelled by the aggressive FTTH expansion.
Flash Fiber showed unprecedented growth of 106.8%, taking lion’s share of the
market’s net adds, whereas PTCL IPTV segment also grew by 2.5% YoY. Voice and Charji revenue streams
continued the declining trajectory impacted by OTT services and competition
from cellular operators.
Business Services:
The business services segment continued its momentum sustaining
market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services
segments. PTCL’s Enterprise business grew by 25.7% as compared to last year,
while Carrier and Wholesale business continued its growth momentum and achieved
21.9% overall revenue growth. International voice revenue has increased by 17.9%
as compared to last year. Overall Business Solutions revenue has grown by 21.9%
on a year-on-year basis.
Being the national telecom carrier and connectivity backbone in
Pakistan, PTCL Group strives to provide innovative solutions to accelerate
growth for a ‘Digital Pakistan’ through robust telecommunication infrastructure
and a diverse portfolio of services with enhanced customer experience.
As Pakistan's backbone
of connectivity, PTCL Group is at the forefront to provide innovative solutions
that strengthen the idea of a 'Digital Pakistan'. This is accomplished by
building strong telecommunication infrastructure and offering a diverse range
of services, all focused on elevating customer satisfaction and accelerating digitalization
in the country.
PTCL Group signed
Pakistani cricket icons, Babar Azam, Haris Rauf and Naseem Shah as brand
ambassadors for the Group to celebrate the nation’s roaring passion for cricket
and to rally support for the Pakistan Cricket Team during its ICC Cricket World
Cup 2023 campaign.
PTCL Group has been
awarded the ‘Best Place to Work in Technology & Telecom Sector’ by
PSHRM-Engage Consulting, along with being recognized as the ‘Most Facilitating
Employer’ at NUST Placement Recognition Awards 2023.
PTML – Ufone:
In 2023, Ufone 4G emerged as the
standout performer in the telecom industry, reporting exceptional revenue
growth of 25.6%, surpassing all other operators. Ufone 4G posted the highest 4G
net adds in the industry.
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 continues its network modernization activities to provide
unmatched customer experience across Pakistan.
The introduction of ONIC, PTCL
Group’s ambitious project, marks a pivotal step towards digital transformation.
ONIC aims to be an all-encompassing digital platform, offering a suite of
services ranging from e-commerce and financial services to entertainment and
connectivity solutions.
PTCL & Ufone 4G,
has entered into a strategic alliance with the esteemed Pakistani cricket
franchise, Peshawar Zalmi, for the upcoming 9th edition of the Pakistan Super
League (PSL).
U Bank
Corporate Social Responsibility (CSR)
Throughout 2023, PTCL
Group engaged in a variety of Corporate Social Responsibility (CSR) activities,
showcasing a commitment to making a positive impact on society. One notable
initiative involved supporting Pehli Kiran Schools in backward areas of
Islamabad by providing Evo Charji Devices, ensuring seamless internet
connectivity for out-of-school children.
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