Pakistan Telecommunications Company Limited (PTCL), a leading provider of telecommunications and ICT services in the country, has announced financial results for the quarter that ended 31 March 2023. The announcement was made at the board meeting held in Islamabad on 17 April 2023.
In the first quarter of 2023, PTCL Group continued its momentum and strengthened its position as Pakistan’s leading integrated telecommunications service provider. Despite the continued challenging macroeconomic conditions, the Group achieved revenue growth of 23.2% year-on-year.
This strong revenue growth was primarily driven by strong performances in fixed broadband, mobile data, business solutions, and banking services. The negative impact of the macroeconomic challenges looming in 2022 will continue to affect businesses in 2023. With energy and fuel prices continuing to rise, operators face significant challenges in providing consumers with affordable and quality service.
Pakistan’s balance of payments problems and restrictions imposed by the National Bank of Pakistan on the opening of LCs have impacted the operators’ network rollout schedules and have also led to a significant decline in PKR against foreign currencies.
This deteriorating rupee-to-dollar parity, rising interest rates, and additional taxes on telecom operators above and beyond the normal corporate income tax have had a severe impact on profitability.
Mitigating the impact of these thorny issues requires government policy intervention to bring much-needed relief to the sector.
PTCL Group Highlights
His PTCL Group’s revenue for Q1 2023 was Rs 43.2 billion, up 23.2% from the same period last year.
The Group’s profitability has been particularly impacted by a significant surge in depreciation expense among other factors as the Group has unsecured foreign exchange liabilities. The group reported a net loss of Rs 5.7 billion.
PTCL continues to grow, posting 17.1% year-on-year revenue growth in the first quarter of 2023.
PTML (Ufone) revenue increased 20.0% year-over-year compared to Q1 2022. U Bank maintained its growth momentum, achieving quarterly revenue growth of 73.0% year-on-year.
PTCL Highlights
PTCL’s quarterly revenue of Rs 22.95 billion increased by 17.1% from Q1 2022.
The company reported an operating profit of Rs 1.5 billion, up 54.7% year-on-year, and a net profit of Rs 5.5 billion for the quarter. Increased non-operating income from translation gains on the company’s foreign exchange receivables, dividend income from subsidiaries, and gains from network modernization and disposal of legacy assets due to fraying played a major role in achieving the company’s 187 increase. I did it. , a net profit of 2% compared with the same period last year.
PTCL continued to strengthen its flagship FTTH brand, Flash Fiber, with the highest net addition in the industry. This is made possible by our excellent customer experience and aggressive fiber network expansion across the country. Rapid FTTH adoption and strong performances in the carrier and wholesale segments contributed to a solid increase in PTCL’s revenues.
PTCL’s recently launched OTT streaming platform “SHOQ” brings premium entertainment, sports and news content to all data users, bridging the gap with the need to provide high quality content at affordable prices. In addition, PTCL Group partnered with his PUBG Mobile to launch the largest esports gaming competition through gaming platform GameKey.
The group has also partnered with DE-CIX to set up Internet Exchange and Vodafone to launch his end-to-end IoT solution in Pakistan. In celebration of International Women’s Day 2023, PTCL has launched a special language pack called SheTalks for her female customers. PTCL Consumer Store:
constant performance
The company’s fixed line broadband business achieved revenue growth of 17.4% year-on-year, mainly due to the sequential doubling of flash fiber revenue and subscriber numbers. The IPTV segment also posted revenue growth of 6.2% year-on-year. Voice and mobile revenues are declining due to continued customer migration to his OTT services and intense competition from mobile operators.
PTCL Enterprise Services
The business services segment maintained momentum, maintaining market leadership in the IP bandwidth, cloud, data center, and other ICT services segments. PTCL’s enterprise business grew 12.1% year-over-year, while carrier and wholesale businesses maintained their growth momentum, with overall revenue increasing 36.9%. International language sales increased 22.7% year-on-year. Despite the slowdown in economic activity, overall business solutions revenue grew a staggering 27.2% year-over-year.
As Pakistan’s national telecom provider and connectivity backbone, PTCL Group offers innovative solutions to accelerate the growth of ‘Digital Pakistan’ through its diversified service portfolio with robust telecom infrastructure and enhanced customer experience. We strive to provide PTCL, in collaboration with the Ministry of Education, has developed an app called Teleschool Pakistan which aims to provide free digital learning to students. The app was launched by the Prime Minister of Pakistan in March and received widespread attention across Pakistan.
PTML – Ufone Highlights
Continuing its growth trajectory, Ufone recorded an impressive revenue increase of 20.0% YoY. Ufone recently reached 24 million subscribers, increasing its market share by 0.4 percentage points. Network modernization activities carried out in the first quarter of 2023 have brought a better experience to Ufone subscribers.
Thanks to this improved customer experience, growth in engagement conversions, and better data rates, Ufone achieved the second-highest number of additional net customers in the industry in the first quarter. Ufone 4G recently launched WhatsApp service for an easy customer experience, partnered with Nestle Pakistan Limited to establish an advanced customer service solution for Ufone BPO operations, and partnered with Islamabad United for PSL8. U Bank Highlights
Despite the extremely challenging macroeconomic environment, U Bank, PTCL’s microfinance and branchless banking subsidiary, continued its growth trajectory and achieved significant revenue growth of 73 .0% and an impressive 64.5% growth in net income compared to the year-ago quarter, while maintaining a strong position on the balance sheet.
The bank is firmly committed to financial and social inclusion, using its broad reach to provide exceptional services to a diverse customer base across the country through its agricultural retail banking. the village, corporate finance bank, and corporate bank. retail bank. banking, corporate banking, and digital banking.
Corporate Social Responsibility
During the first quarter of 2023, PTCL Group implemented various CSR initiatives to strengthen its position as the national carrier. Among these initiatives, Ufone 4G has proudly partnered with ConnectHear to facilitate communication and socialization of the deaf community. This initiative is fully in line with the holistic philosophy of the Ufone 4G brand, where we strive to promote equality and shared growth.
