PTCL Posts 14 % Revenue Growth

Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the first quarter of 2024 posting 14 per cent revenue growth Year-on-Year basis to Rs 49 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale & business solutions

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Apr, 2024) Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the first quarter of 2024 posting 14 per cent revenue growth Year-on-Year basis to Rs 49 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale & business solutions.

The announcement was made during a board of directors meeting on Thursday.

PTCL continued its strong performance throughout Q1, 2024 and achieved revenue of Rs 26 billion for this quarter, which is 13% higher than last year, mainly driven by growth in fixed line and business solutions segments, said a news release.

Flash Fiber, PTCL’s premium Fiber-To-The-Home (FTTH) service, continues to show tremendous growth with the highest Net adds share within the FTTH market (since Dec’23) and now stands as the leading FTTH service provider in Pakistan.

This phenomenal growth has been possible through the aggressive expansion of PTCL Flash Fiber and dedicated customer experience throughout the country.

The company has posted an operating profit of Rs 3 billion, which is 32% higher as compared to the same quarter of 2023. The Company has posted a net profit of Rs 431 million.

PTCL’s aggressive deployment of FTTH and the strong performance of corporate segment are the cornerstones for the topline growth.

Continuing from the past quarters, PTCL's strategic focus remained on enhancing customer experience by providing the fastest and most reliable internet services under its flagship ‘Flash Fiber’ Fiber-To-The-Home (FTTH) brand, which boosts PTCL as one of the leading FTTH operator in the industry with majority share of the market’s net adds.

PTCL's fixed broadband business has shown 22% YoY growth while voice grew by 4% YoY.

In addition, PTCL consumer business has gone into strategic collaboration with Waada to provide health, life and accident insurance to further enhance customer experience and grow its value-added services portfolio within the fixed-line business.

PTCL Group’s commitment towards its customers was further solidified by announcing the launch of a cutting-edge Android TV box (SHOQ TV) at Mobile World Congress (MWC) 2024 in Barcelona Spain. Integrating multiple Google apps, including the Play Store, into the set-top box along with a sleek UI and captivating graphics promises to deliver a transformative user experience.

The Business solutions segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services segments. PTCL’s Business solutions revenue has grown by 9% on a quarterly basis despite the addition of LDI operators and US$ to PKR parity improvement.

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.

APP/nvd-zah