Pakistan Telecommunication Company Limited (PTCL), the top provider of telecom and ICT services in the country, presented its financial results for the six-month period ended June 30, 2022, at its board meeting on July 18, 2022.
PTCL Revenue Growth
According to PTCL, revenue growth rose by 38.90% throughout the course of the period. According to a filing to the Pakistan Stock Exchange, the company reported a profit of Rs. 5.18 billion in the first half of the year that ended on June 30, 2022, up from Rs. 3.73 billion in the same period the year prior (PSX).
Throughout the first half of 2022, the PTCL Group kept up its top-line growth momentum, greatly strengthening its position as a provider of integrated telecom services in Pakistan.
The robust performance of the consumer segment, which is driven by fixed broadband, mobile data, and business solutions, is principally responsible for the PTCL Group’s revenue growth. Despite the obstacles created by the rise in advance income tax (AIT) and the fall in mobile termination rates, microfinance services also significantly contributed to the Group’s achievement of 5.7 percent revenue growth during the comparative period (MTR).
- PTCL reported a YoY sales rise of 4.7%, maintaining its revenue growth trend.
- Revenue at PTML (Ufone) increased by 3.5 percent as compared to the same time last year.
- In comparison to the same time last year, U Bank’s revenue increased by 25.0%.
- In comparison to the same period in 2021, the PTCL Group’s revenue of Rs 71.7 billion is up 5.7 percent.
- The Pak Rupee’s depreciation against the USD, rising interest rates, considerable increases in power and fuel prices, upfront expenses reated to the purchase of 4G spectrum and related network expansion. The Group reported a loss of Rs 3.1 billion on its net income.
- The PTCL group reported a loss of Rs. 3.05 billion over the first six months, as opposed to a profit of Rs. 2.93 billion at the same time previous year
The increase in PTCL’s revenue for the period, which totaled Rs. 40.0 billion, from 2021 to this year was mainly attributable to the expansion of its broadband and business solutions businesses. The company declared an operational profit of Rs. 1.9 billion.