ISLAMABAD: The PTCL Group has achieved double-digit revenue growth of 10.2 percent to Rs151.6 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale and business solutions, along with microfinance services during the calendar year 2022.
Pakistan Telecommunication Company Limited (PTCL) posted 8.6 percent growth in its revenues, owing to its strong performance in both retail and business segments, whereas, Ufone achieved 7.1 percent growth in its revenues. The Group’s subsidiary, U Microfinance Bank, kept a strong momentum and posted 35.4 percent revenue growth during 2022.
The company announced its annual financial results for the year 2022 at its Board of Directors’ meeting held in Islamabad, and later shared with media.
The PTCL Group’s revenue has increased by 10.2 YoY to Rs151.6 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 remained under pressure due to a significant hike in power and fuel tariffs, devaluation of the Pak Rupee against USD, higher interest rates, and other costs associated with the acquisition of 4G spectrum and related network rollout. The Group has posted a net loss of Rs7.8 billion.
The PTCL continued its strong performance throughout 2022. The PTCL’s revenue of Rs83.4 billion for the year 2022, highest ever in its history, is 8.6 percent higher than 2021, mainly driven by growth in broadband and wholesale and business solutions segments.
Flash Fiber, PTCL’s premium Fiber-To-The-Home (FTTH) service, showed tremendous growth with highest Net adds within FTTH market in 2022. The company has posted operating profit of Rs4.9 billion, which is 17per cent higher as compared to 2021. Net profit of Rs9 billion, highest since 2013, is 31.7per cent higher as compared to last year.
The PTCL continued to upgrade its existing infrastructure and network, besides expanding its premium FTTH internet Flash Fiber across the country to offer seamless connectivity for greater customer experience.
Prompt deployment of FTTH and strong performance in Corporate and Wholesale segments are the cornerstone in PTCL’s topline growth, which along with focus on cost optimisation program, has significantly increased the company’s profitability.
The PTCL fixed broadband business has shown 12.2 pe cent YoY growth propelled by the aggressive FTTH expansion. Flash Fiber showed unprecedented growth of 102.7 percent, taking lion’s share of the market’s net adds, whereas, PTCL IPTV segment also grew by 8.1 percent YoY. Voice and wireless broadband segments witnessed decline due to conversion of customers to OTT services and competition from cellular operators.
The PTCL has recently launched Pakistan’s largest OTT Streaming platform ‘SHOQ’ to provide premium entertainment, sports, and news content to all data users. As internet penetration has increased manifolds during the last few years, Pakistan needed a high-quality local OTT service that offers affordable entertainment.
The PTCL’s Enterprise business grew by 18.8 percent as compared to last year, while Carrier
and Wholesale business continued its growth momentum and achieved 11per cent overall revenue growth. International voice revenue has increased by 8.5 percent as compared to last year.
Copyright Business Recorder, 2023
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