Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, has announced its financial results for the quarter ending March 31, 2024. The announcement was made during a Board of Directors meeting in Islamabad. The PTCL Group maintained its momentum and solidified its standing as Pakistan’s leading telecom service provider in the first quarter of 2024. Strong performance in the consumer segment, supported by notable growth in Fixed Broadband, Mobile Data, and Business Solutions, was a major factor in revenue growth.
Highlights of the PTCL group
- Revenue for the PTCL Group climbed by 14% year over year to Rs 49 billion, mostly due to the consumer segment’s robust performance, which was led by fixed broadband, mobile data, wholesale, and business solutions. The Group reported a net loss of Rs 4.8 billion, a 16% decrease year over year.
- PTCL posted a 13% YoY revenue growth in Q1, 2024, demonstrating its continued growth.
- Revenue for PTML (Ufone) increased by 27% in Q2 2023 over Q1 2022.
Highlights of PTCL
- PTCL maintained its excellent performance in the first quarter of 2024. PTCL’s revenue for the quarter was Rs 26 billion, up 13% from the previous year primarily due to growth in the business solutions and fixed line segments.
- With the highest Net adds share in the FTTH market (since December 23), Flash Fiber, PTCL’s premium Fiber-To-The-Home (FTTH) service, has continued to grow tremendously and is currently the top FTTH service provider in Pakistan. The aggressive national expansion of PTCL Flash Fiber and its committed customer base have made this incredible growth possible.
- With an operating profit of Rs 3 billion, the company has reported a 32% increase over the same quarter in 2023.
- A net profit of Rs 431 million has been reported by the company.
Consumer Business at PTCL:
The corporate segment’s robust performance and PTCL’s aggressive FTTH deployment are the main drivers of the topline growth. As in previous quarters, PTCL’s strategic goal has been to improve customer experience through offering the fastest and most dependable internet services under its flagship “Flash Fiber” Fiber-To-The-Home (FTTH) brand. This helps PTCL become a dominant player in the FTTH market, holding a majority share of the net adds. While voice grew by 4% YoY, PTCL’s fixed broadband business saw a 22% YoY growth.
The PTCL consumer business has also entered into a strategic partnership with Waada to offer health, life, and accident insurance in an effort to improve customer satisfaction and expand its offering of value-added services for fixed-line customers.
The announcement of the introduction of a state-of-the-art Android TV box (SHOQ TV) at the Mobile World Congress (MWC) 2024 in Barcelona, Spain, further demonstrated PTCL Group’s dedication to its clientele. A revolutionary user experience is anticipated thanks to the set-top box’s integration of numerous Google apps, including the Play Store, a stylish user interface, and eye-catching visuals.
PTCL Enterprise Solutions:
Maintaining its market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services segments, the Business Solutions segment kept up its momentum. Notwithstanding the addition of LDI operators and the improvement in US$ to PKR parity, PTCL’s revenue from business solutions has increased by 9% on a quarterly basis.
As Pakistan’s leading telecom provider and connectivity hub, PTCL Group works to develop cutting-edge solutions that will spur the development of a “Digital Pakistan” by offering a wide range of services with improved customer experiences, a strong telecom infrastructure, and innovative solutions.
Leading the charge in offering creative solutions that support the notion of a “Digital Pakistan” is PTCL Group. To achieve this, robust telecommunications infrastructure is constructed, and a wide range of services are provided, all with the goal of increasing customer satisfaction and boosting national development. Because of this, PTCL introduced DE-CIX-powered, first-ever neutral Internet exchange in Pakistan. Furthermore, PTCL Group has extended its collaboration with TPL Trakker to provide ICT services and with SNGPL to provide cellular services.
Highlights of Ufone 4G in PTML:
- In Q12024, Ufone 4G reported a 27% YoY growth in topline, driven by both strategic initiatives and strong network expansion. Better customer experiences and digital engagement made possible by a number of data-centric products and clever alliances with top digital platforms have made this expansion possible. In order to deliver an unparalleled customer experience throughout Pakistan, Ufone 4G is still updating its network.
- With the integration of multiple value-added services (VAS) into its essential digital products, Ufone 4G is significantly improving its digital experience and offerings. Ufone is giving its customers a more complete and enhanced experience by integrating Golootlo, Waada, and UCloud services into its top digital products. Ufone is probably attempting to give its customers a more appealing and engaging online experience by incorporating these VAS services.
- Now that Ufone’s UPaisa is included in the e&Money, UAE, and MobilyPay, KSA Apps menu, Pakistani expatriates can use these apps to send money straight into their UPaisa wallets. Ufone franchises can now order and pay for recharge from Ufone in real-time, 24/7, through the UPaisa app as part of the company’s digital transformation initiative.
- With a full digital ecosystem at its disposal for an improved customer experience, PTML’s digital brand onic is steadily advancing in the market.
In order to achieve unparalleled spectrum efficiency, Ufone 4G and Huawei implemented the World’s First Microwave Super Hub Solution in a Commercial Network during the first quarter. Another feather in the cap was achieved during Mobile World Congress when Huawei and Ufone 4G revolutionized the Microwave Network and won the coveted GSMA Global Mobile (GLOMO) Award for “Best Mobile Innovation for Emerging Markets.”
UBank:
Ubank, PTCL’s microfinance and branchless banking subsidiary, is unwavering in its dedication to promoting financial and social inclusion. It leverages its wide reach to deliver outstanding services to a varied clientele throughout the nation via its corporate banking, Islamic banking, urban retail banking, corporate finance & investment banking, rural retail banking, and digital banking platforms. In keeping with its mission to promote financial inclusion, Ubank introduced e& from GCC, international remittances, Mastercard, and other relevant digital initiatives to expand the group’s digital footprint.
Social Responsibility of Companies:
PTCL Group has always been at the forefront of serving the community because it recognizes the importance of CSR.
As Gwadar battled floods in Q1, 2024, PTCL Group stepped up to help connect flood-affected families and facilitate rescue and relief operations. They also delivered clean drinking water and offered free calls within Gwadar.
The primary focal point of this quarter was the partnership between PTCL Group and PPAF to close the digital divide by providing 100 female entrepreneurs in Haripur, Khyber Pakhtunkhwa, with smartphones as part of the “Ba-Ikhtiar” initiative.
Over the course of a year, the “Ba-Ikhtiar” program will provide these women with the fundamental resources and financial literacy needed to establish long-term businesses.
Under this project, PTCL Group facilitated the setup of UPaisa mobile wallets in partnership with U Microfinance Bank, gave away smartphones with pre-loaded SIM cards, and offered free data packages for a year. The Group will offer financial and digital marketing training in the second phase in collaboration with Daraz and UBank to enable participants to seize new online opportunities.
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