PTCL posts Rs96bn revenue for nine months 2020

Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the nine months ended September 30, 2020, at its Board of Directors’ meeting held in Islamabad on Wednesday.

The company reported a revenue of Rs96 billion for the nine months ended September 2020; when normalized for the impact of Covid-19 and certain regulatory changes affecting Ufone, the group’s revenue is 4.2pc higher than 2019 on a like-for-like basis.

UBank continued its growth momentum and has achieved a double-digit growth in its revenue over last year.

PTCL standalone revenue for the nine months period is 0.7pc lower than last year; when normalized for the impact of Covid-19, the like-for-like revenue is 1.2pc higher than the same period of last year.

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As the post-Covid situation got better and the markets opened up after the lockdowns, the PTCL Group’s performance showed signs of improvement. The group’s 3Q2020 revenue is higher by 3.4pc over the same quarter of last year.

The topline growth coupled with cost control initiatives translated into 167pc and 356pc improvement in the group’s operating profit and net profit for the quarter, respectively.

During the 3rd quarter, PTCL wireline segment showed positive trends. It recorded the highest ever sale in broadband for any quarter since Q4 2014. Fiber-to-the-Home (FTTH) continues to grow with consistent growth in subscriber base during the period with a promising outlook.

The positive momentum in wireless (CharJi) segment continued with subscriber base increasing by 21pc on YoY basis. Retail business recorded 6pc growth in revenue between Q3 2020 vs Q2 2020.

Corporate and wholesale businesses continued their growth momentum and have achieved a 6pc overall revenue growth YoY. Similarly, international revenue has also shown 6pc growth as compared to the same period last year.

PTCL, in collaboration with SCO, has successfully established strategic partnership to monetize CPEC cross border connectivity. The company has been successful to maintain its dominant position in the market with reference to IP bandwidth and managed capacity services.

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