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.
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PTCL Secures Debt Financing for Telenor Pakistan Acquisition
Pakistan Telecommunication Company Limited (PTCL) has announced that it has secured a significant debt financing deal of up to $400 million from the International Finance Corporation (IFC), the investment arm of the World Bank.
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CCP Examines Request for PTCL and Telenor Merger
Islamabad, March 26, 2024 – The Competition Commission of Pakistan (CCP) has announced its examination of the proposed merger between Pakistan Telecommunication Company Limited (PTCL) and Telenor, aiming to address concerns and ensure transparency in the process.
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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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Projects worth Rs8 bn launched for broadband services
ISLAMABAD: The Ministry of Information Technology and Telecommunication (MOITT) has launched seven more projects worth over Rs8 billion to provide broadband services to over 2.5 million people in the un-served and under-served areas of the four provinces.
Out of total amount for the projects around Rs 3.5 billion projects allocated for Balochistan, according to a statement issued on Monday.
The projects were approved here on Monday at the 81st meeting of the Board of Directors of the Universal Service Fund (USF), since then, the number of projects for providing optical fiber cable and broadband services from 2018 to date has reached a record 56 and the total cost (subsidy) has exceeded Rs 52 billion.
READ MORE: Telenor gets Rs1.36bn contract for broadband services
The meeting was chaired by Secretary IT & Telecom and Chairman USF Board Dr. Muhammad Sohail Rajput while Chairman PTA Major General (Retd) Amir Azeem Bajwa, Member Telecom Muhammad Umar Malik, CEO Telenor Irfan Wahab Khan, Imran Akhtar Shah, Kokab Iqbal, Sibte Hassan Gardezi and other officials were present.
Chief Executive Officer USF Haaris Mahmood Chaudhry gave a detailed briefing to the Board about the projects.
READ MORE: Jazz awarded project worth Rs344 million for providing broadband service
Federal Minister for Information Technology and Telecommunication Syed Amin-Ul-Haque, while congratulating the USF Board on the launch of the projects, said that whatever the political situation, the MOITT and its subsidiaries, especially the Universal Service Fund, continue to perform.
He said that Ministry of IT through USF is committed to connect the people in remote areas with digital world.
The minister said projects started during the tenure of present government are being ensured to complete in stipulated time. While for all the projects under the rules only the lowest bidding telecom operators were selected, he said.
Earlier addressing the meeting, Secretary IT and Chairman USF Board Dr. Muhammad Sohail Rajput said that the provision of broadband services to the residents of the un-served and under-served areas of the country is as much needed as for the big cities.
READ MORE: Telenor gets contract for providing broadband services
He said that while the implementation of projects for the four provinces has been ensured under the rules and regulations, the projects worth Rs 3.57 billion have been approved in principle, giving special importance to the deprived Balochistan.
Dr. Sohail Rajput further said that although the wide area of Balochistan and the provision of broadband services to the spread population is costlier than any other area, but the Board under the direction of Federal Minister for IT Syed Amin-Ul-Haque always included Balochistan in its priorities.
Meanwhile, according to the Projects approved at the USF Board of Directors meeting, the project to provide 4G services in Qila Saifullah and Zhob in Balochistan has been awarded to Pak Telecom Mobile Limited (Ufone) with total subsidy is Rs 3.57 billion while the completion period would be 18 months.
The project would facilitate to more than one hundred thousand populations of 111 villages spread over an area of 8,408 sq. km.
The plan to provide broadband services in Jhang, Bhakkar and Toba Tek Singh districts of Punjab has been given to Pakistan Mobile Company Limited (Jazz) on which the amount of subsidy given is Rs. 2.25 billion with one-year completion time.
READ MORE: Contracts worth Rs5.11 billion awarded for next generation broadband
In a short span of time, facilities will be provided to a population of over 1 million in 722 villages spread over an area of 8,925 sq. km. The meeting also approved the project of uninterrupted Voice and Broadband services on 95 km section of Hakla D.I Khan Motorway connecting Dera Ismail Khan, Lakki Marwat, Mianwali, Attock and Rawalpindi districts to Jazz at a subsidy of Rs 375.33 million.
Similarly, a plan to provide broadband service in six Mauzas on the outskirts of Islamabad has been handed over to Jazz at a cost of Rs. 11 million.
A project to provide mobile services in a Mauza of Mandi Bahauddin has also been handed over to Jazz at a cost of Rs. 22.6 million.
Under optical fiber cable (OFC) program, 555 km long fiber optical cable laying project in Larkana and Qambar Shahdad Kot districts of Sindh has been given to PTCL with total subsidy of Rs. 1.61 billion and completion period is one year.
By connecting the 62 union councils of these districts, it will be possible to provide high speed connectivity to the population of more than 1.2 million.
Another project under Optical Fiber Cable Program, PTCL was also given a project to lay 106 km long cable for a population of more than 136,000 in 6 Union Councils of Haripur and Islamabad out of total cost Rs. 410 million, the subsidy approved of Rs 235 million.
In addition, the USF Board of Directors has approved in principle the appointment of Ms. Alia Afridi from among the 3 shortlisted names after interviews of 37 candidates on the recommendations of the Human Resource Committee for the post of Company Secretary in the Universal Service Fund.
Ms. Alia Afridi has high academic qualifications and significant experience in the related field.
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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.