Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the year ending December 31, 2024.
PTCL Group’s losses decreased to Rs. 14.39 billion from Rs. 16.72 billion reported in 2023.
PTCL Group reported 17% increase in revenue, solidifying its position as Pakistan’s leading integrated telecom service provider. The Group reported a total revenue of Rs. 219.7 billion, driven by strong performance in consumer segments such as fixed broadband, mobile data, and wholesale business solutions.
PTCL itself posted a 12% year-on-year revenue growth, reaching Rs. 107.7 billion. This growth was fueled by significant advancements in fixed-line, wholesale, and business solutions. PTCL on standalone basis reported an operating profit of Rs. 12.2 billion, reflecting a 55% increase over the previous year, and a net profit of Rs. 4.8 billion for 2024 as compared to a profit of Rs. 9.3 billion in 2023.
Ufone, a subsidiary of PTCL, demonstrated resilience with a 25% year-on-year revenue growth, achieving a strong EBIT of Rs. 4.6 billion. This turnaround was attributed to continuous topline growth and cost optimization measures.
PTCL’s aggressive expansion of its Fiber to the Home (FTTH) service, Flash Fiber, played a crucial role in its success. The service captured a significant share of industry net additions, contributing to a 20% year-on-year growth in the fixed broadband business and an unprecedented 104% growth for Flash Fiber.
In addition to financial achievements, PTCL Group introduced several innovative services, including the SHOQ TV Box and Flash Eye, enhancing customer experience and solidifying its market leadership.
The Group’s mobile financial services also saw remarkable growth, with a ~75% increase in transactions and a doubling of Mobile Financial Services Monthly Active Users (MFS MAUs).
PTCL Group’s achievements in 2024 were recognized with several prestigious awards, including the GSMA Global Mobile (GLOMO) Award for Ufone 4G and the ‘Best Business Strategy and Expansion’ award at the Leadership & Excellence Awards in Digital Development (LEAD).
