PTCL the country’s main provider of telecom and ICT services, put out a statement on July 18, 2022, about its half-year financial revenue growth results.
During the third quarter, PTCL’s profits went up by 38.90%. In 2015, the company earned Rs. 5.18 billion, compared to Rs. 3.73 billion in the first half of the year, which ended on June 30, 2022.
The PTCL Group has solidified its position as Pakistan’s leading mobile phone provider because its top-line revenue growth will continue through 2022.
The PTCL Group had a strong performance in the consumer segment, led by fixed broadband, mobile data, business solutions, and microfinance services. PTCL led to a growth in revenue of 5.7% compared to the same time last year (MTR). In the first half of last year, PTCL made a profit of Rs. 2.93 billion.
The growth of broadband and business solutions will push PTCL’s revenue up by 4.7% to Rs 40.0 billion by 2021. The business made a total of Rs. 1,900,000,000.
Due to higher prices for fuel and electricity, the operating profit for the quarter stayed low compared to the same time last year. With a net profit of Rs. 5.2 billion, PTCL’s results were 38.8 percent better than the year before.
According to the company’s financials, a 32.6 percent drop in operating profit was turned into a 38.8 percent rise in net profit by increases in non-operating income, dividend income from a subsidiary, and gains on the sale of outdated assets caused by network upgrades and fiberization.
PTCL Group’s sales in 2022 will be Rs. 71.7 billion, which is a 5.7% increase over the previous year. Prices for electricity and fuel went up, the Pakistani rupee lost value against the US dollar, loan rates went up, and so did the initial costs of getting a 4G spectrum and building a network. It was hard for PTCL Group to make money. The business had a loss of 3,100,000,000 rupees.
The group’s service costs for the first half of the year went up by 12.61 percent, to Rs. 56.17 billion. Costs for running the government went up from Rs. 8.88 billion to Rs. 9.48 billion. Because interest rates went up and the KIBOR went up, the company’s financial costs went from Rs. 4.52 billion to Rs. 15.48 billion.
In a statement, PTCL said that sales were up 4.7% from the previous year. The income of PTML (Ufone) went up by 3.5% from the previous year, while the income of UBank went up by 25%.
Due to the purchase of spectrum, Ufone’s number of 4G subscribers and data services went up because AIT went up and MTR went down (MTR). Ufone says that after getting spectrum, it has greatly improved its network to 4G. The company is getting more and more 4G customers all the time.
Several things, like a drop in the value of the currency, higher interest rates, and higher prices for electricity and gas, have hurt the company’s bottom line. VIS Credit Rating Company gave Ufone an AA-/A-1 rating with a “Stable” outlook. This independent grading process showed that stakeholders trust Ufone because it is financially stable, has good credit quality, and has good basic security features.
Thanks to faster broadband speeds and industry-first innovations like “UPower,” Ufone has great customer service.
The number of loans and income at PTCL’s microfinance and branchless banking company, U Bank, went up by 25% year over year. Since then, the bank has added Rs 114 billion to its balance sheet by expanding into new asset classes and sources of funding.
Consumer business at PTCL is getting bigger
In contrast, the company’s fixed broadband business grew by 10.7% and its IPTV business grew by 8.6%. The price of premium FTTH service Flash Fiber went up by 91.7%. Voice revenue has gone down because voice traffic and OTT service use have gone down.
Flash Fiber, which is Pakistan’s fastest internet connection, has made internet use better for PTCL customers by making internet speeds faster. Since last year, the number of FTTH subscribers at PTCL has doubled. This has helped the company meet the growing demand for internet and data services.
How Dependable PTCL Business Solutions Are
IP bandwidth, the cloud, data centers, and other ICT services continue to lead the market for business solutions. From the year before, PTCL’s business with corporations grew by 15%.
Wholesale carrier income went up by 9.6%, but overall income went down because international IP leased links were shut down. Because the currency has been weak, wage gains abroad have gone up by 14% in the last year. Through a strong communications infrastructure and a wide range of services, PTCL gives its partners creative, reliable, and flexible solutions. PTCL