ISLAMABAD-PTCL Group, Pakistan’s leading telecom and ICT services provider, has achieved a double-digit revenue growth of 10.2% during the financial year 2022. Pakistan Telecommunication Company Limited (PTCL) posted 8.6% growth in its revenues, owing to its strong performance in both retail and business segments, whereas Ufone achieved 7.1% growth in its revenues. The Group’s subsidiary, U Microfinance Bank, kept a strong momentum and posted 35.4% revenue growth during 2022. The company announced its annual financial results for the year 2022 at its Board of Directors’ meeting held in Islamabad. Major Highlights of
Financial Performance
PTCL Group:
PTCL Group’s revenue has increased by 10.2% YoY to Rs 151.6 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale & business solutions, along with microfinance services. The Group has posted a net loss of Rs 7.8 billion.
President summons NA, Senate sessions on Wednesday
PTCL:
PTCL continued its strong performance throughout 2022. PTCL’s revenue of Rs 83.4 billion for the year 2022, highest ever in its history, is 8.6% higher than 2021, mainly driven by growth in broadband and wholesale & business solutions segments. Flash Fiber, PTCL’s premium Fiber-To-The-Home (FTTH) service, showed tremendous growth with highest Net adds within FTTH market in 2022. The company has posted operating profit of Rs 4.9 billion, which is 17% higher as compared to 2021. Net profit of Rs 9 billion, highest since 2013, is 31.7% higher as compared to last year.
PTCL Consumer Business:
PTCL fixed broadband business has shown 12.2% YoY growth propelled by the aggressive FTTH expansion. Flash Fiber showed unprecedented growth of 102.7%, taking lion’s share of the market’s net adds, whereas PTCL IPTV segment also grew by 8.1% YoY.
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 18.8% as compared to last year, while Carrier and Wholesale business continued its growth momentum and achieved 11% overall revenue growth. International voice revenue has increased by 8.5% as compared to last year. Overall Business Solutions revenue has grown by 12.5% on year-on-year basis.
Pakistan reports 21 coronavirus cases in one day
PTML – Ufone:
In the year 2022, Ufone has recorded positive Net Adds with 3.9% YoY growth in subscriber base and has gained market share within the industry. Since the acquisition of spectrum, Ufone has grown from strength to strength registering 7.1% YoY revenue growth in 2022 despite the challenges of increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR) and recent floods in the country.
U Bank:
U Bank, the microfinance and branchless banking subsidiary of PTCL, continued its growth trajectory and achieved 35.4% growth in its revenue over last year by deepening its advances and investment portfolio, despite the challenging macro-economic situation, further exacerbated by the recent flood. The balance sheet footing of the bank reached Rs 221 billion as the bank continued to diversify its asset classes and funding streams while ensuring positive bottom-line impact.
The Nation, 16 Feb, 2023