PTCL continues growth momentum Increase of 8% in Revenue and 38% in Profit
Country’s leading telecom and ICT services provider, Pakistan Telecommunication Company Limited (PTCL), has announced its financial results for the first half ended June 30, 2021 at its Board of Directors’ meeting held in Islamabad on July 14, 2021. The company posted a significant 8 percent growth in its revenues, the highest since 2014, owing to its robust performance.
PTCL successfully sustained the momentum of growth from its last quarter’s turnaround that had cemented its market standing as the largest fixed line telecom player in the country. The significant growth in revenues is mainly driven by strong performance in consumer segment led by Fixed Broadband services. During the past quarter, PTCL strongly focused on enhancing customer experience through provision of high quality and fast internet under its flagship ‘Flash Fiber’ Fiber-To-The-Home (FTTH) project.
The company is upgrading its existing infrastructure, besides expanding FTTH to newer markets to usher in seamless connectivity for greater customer enablement and experience. FTTH’s speedy deployment and strong performance in Corporate and Wholesale segments are the cornerstone in PTCL’s enhanced topline growth, which along with focus on cost control program, has significantly increased the company’s profitability.
- PTCL’s revenue of Rs 38 Billion for the half year is 8% higher than same period last year, mainly driven by Broadband and Corporate & Wholesale business segments.
- The company has posted operating profit of Rs 2.8 Billion which is higher by 96% compared to the same period of last year.
- Net Profit of Rs 3.7 Billion has significantly increased by 38% from last year.
PTCL Group Highlights
- PTCL Group posted revenue of Rs 68 Billion in first half of 2021 that is 8% higher as compared to the same period of last year.
- U Bank continued its growth momentum and has achieved 17% growth in revenue.
- PTML (Ufone) posted revenue growth of 5%.
- PTCL Group delivered strong financial and operational performance and posted a net profit of Rs 2.9 Billion as compared to Rs 33 Million for the same period of last year.
PTCL Consumer Business: Consistency in Growth & Performance
PTCL Consumer Business showed consistent performance as it reported 4th straight quarter of growth. The company’s Fixed Broadband customers crossed 1.5 Million mark, with 44,486 net additions recorded during the period. Due to COVID-19, Voice business was impacted, however, all remaining business segments reported double-digit growth in revenue.
During the first half of 2021, PTCL Fixed Broadband business grew by 13.5% YoY, whereas PTCL IPTV Segment also grew by 14.1%. The groundbreaking PTCL Flash Fiber FTTH service showed a tremendous growth of 52.5% , while PTCL Charji /Wireless Broadband Segment grew by 18.4%.
Business Services: Continued Positive Growth Momentum
Corporate and Wholesale businesses continued its growth momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center and other ICT services segments. The overall YoY growth has been recorded at 8%.
PTCL’s Corporate business grew by 14% as compared to the same period last year, while Carrier and Wholesale business continued its growth momentum and achieved 12% overall revenue growth. International voice revenue has declined by 5% due to lower voice traffic and appreciation of PKR against USD.
PTCL continues to develop strategic partnerships with leading corporate entities to offer Software-as-a-Service (SaaS) in the banking, education, Cloud and cyber-security verticals. Furthermore, PTCL, in line with its vision to revolutionize widespread availability of IP connectivity in Pakistan, has signed contract for deployment of Unified IP Edge network for providing next generation IP services.
Additionally, 5G technology was successfully tested in a limited environment in Khyber Pakhtunkhwa by PTCL Group in collaboration with Khyber Pakhtunkhwa Information Technology Board (KPITB), under the umbrella of Department of Science and Information Technology, Khyber Pakhtunkhwa. Ufone’s license for providing services in Azad Jammu & Kashmir and Gilgit Baltistan was also renewed for the next 15 years by PTA in June 2021.
Being the backbone of Pakistan’s connectivity, PTCL Group remains at the center stage to accelerate and support the ‘Digital Pakistan’ vision through robust telecommunication infrastructure and enhanced customer experience.