Pak Datacom revenue rises, even as Starlink business remains stalled

Nine-month results to March 2025 show Pak Datacom Ltd (PSX: PAKD) growing net revenue to Rs1.28 billion, up 14 % from Rs1.12 billion a year earlier. Management attributes the acceleration to a ramp-up of its new satellite-internet initiatives: revenue in 3QFY25 alone matched the combined total of the first two quarters as subscription billing for recently-signed customers began to flow.

While gross margins slipped to 24% on higher bandwidth costs, net profit still edged up to Rs110 million, underscoring how quickly the top line is scaling.

What Pak Datacom sells is VSAT connectivity. The company commands an estimated 30–35% share of Pakistan’s very-small-aperture-terminal market, supplying secure links to banks, oil companies and government agencies.