Pakistan Telecommunication Company Limited (PTCL) has reported a substantial loss of Rs 4.79 billion for the first quarter of 2024, according to the financial results released on Thursday. This news comes amidst a challenging economic landscape and evolving market dynamics.
(more…)Tag: Pakistan Telecommunication Company Limited
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PTCL Records Widening Annual Losses at Rs 14.15 Billion in 2023
Karachi, February 13, 2024 – Pakistan Telecommunication Company Limited (PTCL) revealed on Tuesday that its annual losses for the calendar year 2023 widened to Rs 14.15 billion, as reported in the financial statement shared with the Pakistan Stock Exchange (PSX).
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PTCL Acquires Telenor Pakistan in Landmark Telecom Deal
Karachi, December 14, 2023 – The Pakistan Telecommunication Company Limited (PTCL) has formally announced its acquisition of 100 percent shares in Telenor Pakistan Limited (TPL).
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PTCL Reports Significant 78% Decline in Profit for Q3 2023
Karachi, October 17, 2023 – Pakistan Telecommunication Company Limited (PTCL) announced a substantial 78% decline in profit after tax for the third quarter of the calendar year 2023.
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PTCL Reports 54% Decline in Quarterly Net Profit
Karachi, July 19, 2023 – Pakistan Telecommunication Company Limited (PTCL) announced a staggering 54 percent decline in net profit for the quarter ending June 30, 2023.
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PTCL declares 39% growth in half year net profit
KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Monday declared 39 per cent growth in its net profit for the half year ended June 30, 2022.
According to half yearly financial results submitted to Pakistan Stock Exchange (PSX), the after tax profit of the country grew to Rs5.2 billion during the period January 01, 2022 to June 30, 2022 as compared with Rs3.74 billion in the same period of the last year.
READ MORE: PTCL registers eight-year high revenue growth
The announcement of financial results was made at the board of directors meeting held on July 18, 2022 at PTCL headquarters in Islamabad.
The board has not approved cash dividend, bonus shares, right shares or another entitlement.
The revenue of the company during the half year under review increased to around Rs40 billion as compared with Rs38.19 billion in the same half of the last year.
The cost of service also increased to Rs31.52 billion as compared with Rs29.50 billion.
READ MORE: PTCL Group wins GDEIB award in five categories
Therefore, the gross profit of the company eased to Rs8.46 billion for the half year ended June 30, 2022 as compared with Rs8.69 billion in the same half last year.
Administrative expenses of the company increased to Rs3.89 billion for the period as compared with Rs3.53 billion.
Operating profit of PTCL fell to Rs1.89 billion during the half year under review as compared with Rs2.80 billion in the same half of the last year.
However, under the head of other income, PTCL recorded massive growth to Rs6.03 billion during the period January 01, 2022 to June 30, 2022 when compared with Rs2.6 billion in the same period of the last year.
READ MORE: PTCL registers 7.3% revenue growth for nine months
This translated the profit before tax to Rs7.74 billion for the half year January – June 2022 as compared with Rs5.26 billion in the same period of the last year.
The company made provision of Rs2.55 billion income tax for the half year as compared with Rs1.52 billion in the same half of the last year.
The consolidated results of PTCL revealed a net loss of Rs3.05 billion for the half year ended June 30, 2022 as compared with the profit of Rs2.93 billion in the same period of the last year.
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PTCL registers eight-year high revenue growth
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), posted seven per cent growth in its revenues for the year 2021, which is eight-year high or the highest revenue growth since 2013.
The revenue growth may be attributed to a robust commercial strategy which cements its market standing.
According to a statement issued on Friday, the company announced its annual financial results for the year 2021 at its Board of Directors’ meeting on February 10, 2022.
READ MORE: PTCL Group wins GDEIB award in five categories
PTCL Group
PTCL Group posted a revenue of Rs 138 billion in the year 2021 which is 6.3% higher as compared to 2020.
PTCL continued its growth trajectory by posting 7% YoY revenue growth which is the highest since 2013.
PTML (Ufone) also posted a revenue growth of 4.3% despite stiff competition in the market.
U Bank continued its growth momentum and has achieved 8.4% growth in revenue.
PTCL Group has posted a net profit of Rs 2.6 billion.
READ MORE: PTCL registers 7.3% revenue growth for nine months
PTCL:
PTCL continued its strong performance throughout 2021. PTCL’s revenue of Rs 77 billion for the year 2021 is 7% higher than 2020, mainly driven by Broadband and Corporate & Wholesale business segments.
PTCL registered highest Fixed broadband Sales and Net Adds in 2021 since 2015, which allowed PTCL to grow in the broadband business segment.
PTCL is the fastest growing Fiber-To-The-Home (FTTH) operator with highest Net adds within FTTH market in 2021.
The company has posted operating profit of Rs 4.2 billion, which is higher by 21% compared to 2020.
Net profit of Rs 6.9 billion is higher by 14% as compared to last year.
The company is continuously upgrading its existing infrastructure and network, besides expanding FTTH 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 optimization program, has significantly increased the company’s profitability.
READ MORE: PTCL, Dell to launch Azure Services in Pakistan
PTCL Consumer Business:
During 2021, the company’s Fixed Broadband business grew by 11.7% YoY, whereas PTCL IPTV segment also grew by 13% YoY. Within broadband business, PTCL Flash Fiber, the company’s groundbreaking FTTH service, showed a tremendous growth of 61.5%, whereas PTCL CharJi /Wireless Broadband Segment grew by 16.5%. Voice revenue stream has declined on account of lower voice traffic and continued conversion of customers to Over-The-Top (OTT) services.
Business Services:
Business services segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services segments. PTCL’s Enterprise business grew by 10% as compared to last year, while Carrier and Wholesale business continued its growth momentum and achieved 9% overall revenue growth. Similarly, international business growth was recorded at 4%.
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.
PTML – Ufone:
READ MORE: Ufone signs Rs21 billion agreement for 4G spectrum
Ufone’s financial year 2021 ended on a high note despite challenging operating environment
Ufone revenues grew by 4.3% as compared to 2020 mainly driven by growth in data services
Ufone acquired additional 9 MHz 4G spectrum in the 1800 MHz Band in NGMS spectrum auction in September 2021, fulfilling its commitment to provide enhanced customer experience through quality services across Pakistan.
Post spectrum auction, significant network modernization activity was carried out in Q4 2021 that has allowed Ufone to significantly improve its share of the 4G net adds within the industry.
PTCL Group is playing a key role in supporting Universal Service Fund’s (USF) efforts for the development of telecommunication services in un-served and under-served areas of the country. This year, PTCL was awarded seven USF optical fiber projects for far flung areas of Punjab, KPK and Sindh provinces. Under these projects, PTCL will deploy a total of 4,690 KM optical fiber. Ufone was awarded five USF projects under the Broadband for Sustainable Development (BSD) umbrella during 2021 for the unserved and under-served areas of Baluchistan which involve deployment and network upgrade of 205 BTS sites.
UBank:
UBank, the microfinance and branchless banking subsidiary of PTCL, continued its growth trajectory and has achieved 8.4% growth in its revenue over last year by increasing its advances portfolio. The balance sheet footing of the bank crossed the Rs 100 billion mark as the bank diversified its funding streams and asset classes while ensuring positive bottom-line impact.
Major strategic initiatives undertaken by the bank include venturing into the low-cost housing loans, international remittance, and the launch of Islamic Banking. The bank intends to invest in state-of-the-art technology to become a leading digital banking player. With the core mission of microfinance at its heart, the business model of the bank is evolving to capture new segments and customer classes to include more of Pakistan into the banking net and further its ambition of financial and social inclusion.
Corporate Social Responsibility (CSR):
During 2021, PTCL ran the second cohort of its flagship internship program ‘Justuju’ for Persons with Disabilities (PWDs) in collaboration with ‘Network of Organizations Working with Persons with Disabilities, Pakistan’ (NOWPDP).
PTCL provided internet connectivity to 11 campuses of the Pehli Kiran Schools Islamabad in an effort to support the Education Sector in Pakistan. PTCL Razakaar and the company’s employee volunteer force undertook a comprehensive clothes donation drive in partnership with Akhuwat Clothes Bank for deserving communities across Pakistan.
Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) recognized the PTCL Razakaar Trust for its generous donation towards augmenting COVID-19 testing facilities of the center during the peak of the pandemic in 2020.
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PTCL registers 7.3% revenue growth for nine months
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) has posted a significant 7.3 per cent growth in its revenues due to a robust commercial strategy that cements its market standing.
The company has announced its financial results for the nine months period ended on September 30, 2021 at its Board of Directors’ meeting on October 18, 2021.
PTCL Group posted revenue of Rs 102.4Billion in first nine months of 2021 that is 7 per cent higher as compared to the same period of last year.
U Bank continued its growth momentum and has achieved 23 per cent growth in revenue.
PTML (Ufone) also posted revenue growth of 4.6 per cent despite stiff competition in the market.
PTCL Group delivered robust financial and operational performance and posted a net profit of Rs 3.7Billion as compared to Rs 1.6 Billion for the same period of last year.
PTCL’s revenue of Rs 57.3 Billion for the nine months period is 7.3 per cent higher than the same period last year, mainly driven by Broadband and Corporate & Wholesale business segments.
The company has posted operating profit of Rs 3.7 Billion, which is higher by 44.3 per cent compared to the same period of last year.
Net profit of Rs 5.7 Billion has significantly increased by 39.2 per cent from last year.
The company is upgrading its existing infrastructure and network, besides expanding FTTH across the country to offer seamless connectivity for greater customer experience. Prompt deployment of FTTHand strong performance in Corporate and Wholesale segments are the cornerstone in PTCL’s topline growth, which along with focus on cost optimization program, has significantly increased the company’s profitability.
PTCL Consumer Business showed consistent performance as it reports 5th straight quarter of growth. During the 9 months of 2021, company’s Fixed Broadband business grew by 12.7 per cent YoY, whereas PTCL IPTV segment also grew by 13.5 per cent. Within broadband business, the groundbreaking PTCL Flash Fiber, Fiber-to-the-Home (FTTH) service showed a tremendous growth of57.5 per cent, whereas PTCL Charji /Wireless Broadband Segment grew by 17.8 per cent.Voice revenue stream has declined on account of lower voice traffic and continued conversion of customers to OTT services.
Business services segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center and other ICT services segments. PTCL’s Corporate business grew by 12.9 per cent as compared to the same period last year, while Carrier and Wholesale business continued its growth momentum and achieved 10.3 per cent overall revenue growth. International voice revenue has shown declining trend like domestic voice revenue.
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 enhanced customer experience.
On the wireless portfolio, PTML (Ufone) acquired additional 9 MHz 4G spectrum in the 1800 MHz Band in NGMS spectrum auction in September 2021, fulfilling its commitment to provide enhanced customer experience through quality services across Pakistan. The additional spectrum will meet the increasing demand for wireless data products amongst the consumers in Pakistan in addition to providing innovative products and services.
After acquisition of 4G spectrum, Ufone intends to fully modernize its network and further enhance its coverage across Pakistan. The network upgradation and modernization has already started paying dividends with significant improvement in data user experience for customers.
In addition to the acquisition of 4G spectrum in Pakistan, Ufone has also renewed and acquired more spectrum in Azad Jammu & Kashmir/Gilgit Baltistan to bolster its existing service. Through this, it has reaffirmed its commitment to provide quality data services to the people of Pakistan and AJK/GB.
UBank, the microfinance and branchless banking subsidiary of PTCL, continued its growth trajectory and has achieved 23 per cent growth in its revenue over the corresponding period last year, by increasing its advances portfolio and treasury investments. The bank grew its funding book to a PKR 70 Billion by leveraging on its deposit and corporate finance arms, which is in line with the bank’s ambition to maintain its superior liquidity position. Major strategic initiatives undertaken by the bank include venturing into the Low-Cost Housing, International Remittance, and Islamic Banking space. The bank plans to invest in technology to make the most of the opportunities available on the digital banking front.
PTCL Razakaar, PTCL’s employee volunteer force, arranged open-air picnics for over a thousand children across 17 locations in Pakistan in collaboration with schools, orphan homes and charity organizations.
PTCL Group has so far vaccinated 98 per cent of its employees in one of the largest staff vaccination drive by a corporate company in the country, demonstrating duty of care to its people and ensuring the safety of people it serves.
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PTCL, Dell to launch Azure Services in Pakistan
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) is collaborating with Dell Technologies to introduce the industry-first Azure Cloud Computing Services in Pakistan.
The latest service will help PTCL enterprise customers to leverage technology for reaching their full business potential.
The agreement was signed by Sayyed Muhammad Imran Ali, EVP, Digital Services, PTCL and Naveed Khan, Director, Data Center Solutions for Asia Emerging Markets, Dell Technologies, during a signing ceremony held at the PTCL Headquarters, Islamabad, in presence of senior executives from both organizations.
The upcoming Azure Stack Hub is an extension of Microsoft Azure that brings the flexibility and innovation of Cloud Computing to the Cloud Services providers in their on-premises infrastructure.
When deployed at PTCL, the Azure Stack Hub will be used to provide Azure consistent services, either connected to the internet and Azure or in disconnected environments with no internet connectivity.
Azure Stack Hub uses the same underlying technologies as global Azure, which includes the core components of Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS) capabilities.
On the occasion, Sayyed Muhammad Imran Ali, EVP, Digital Services, PTCL, said: “PTCL Azure Stack is a leap towards digitization, Cloud readiness and innovation. It has potential of helping SMEs and large enterprises to reinvent their customer experiences and allowing governments and academic institutions to innovate. This partnership will enable us to broaden our enterprise customers’ capabilities and ensure faster growth.”
Also speaking at the event, Naveed Khan, Director, Data Center Solutions for Asia Emerging Markets, Dell Technologies, said: “We are honored to support PTCL to extend their cloud reach in Pakistan to help businesses innovate and adopt hybrid cloud with confidence. With the Dell Technologies Azure Stack, PTCL customers can experience Azure Cloud services without moving their applications and data out of the country.”
The Cloud Computing Services will not only bolster PTCL business customers to realize their full potential but also reinforce the national telecom carrier’s long-term drive for fostering digitization in the country in consistence with the vision of Government of Pakistan for a ‘Digital Pakistan’.
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PTCL declares 38% growth in net profit for first half
KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Wednesday announced 38 per cent growth in net profit for the half ended June 30, 2021.
The telecom company announced Rs3.74 billion as net profit for the period January – June 2021 as compared with Rs2.7 billion in the corresponding half of the last year.
The company announced 73 paisas as earnings per share for the first half of the year under review as compared with 53 paisas EPS declared in the same half of the last year.
Revenue of the company increased to Rs38.187 billion for the first half of 2021 as compared with Rs35.33 billion in the same half of the last year.
The PTCL declared Rs8.69 billion as gross profit for the six months period of the current year as compared with Rs7.32 billion in the same period of the last year.
Administrative and general expenses of the company increased to Rs3.52 billion as compared with Rs3.16 billion.
The results have been announced by the Board of Directors of the company in their meeting held on July 14, 2021.