PTCL Group Marks 10.2pc Revenue Growth In 2022

News Desk

Islamabad: The country’s leading telecom and ICT service provider, the Pakistan Telecommunication Company Limited (PTCL) has achieved double-digit revenue growth of 10.27 per cent in the financial year 2022 owing to a robust commercial strategy.

PTCL President and Group Chief Executive Officer (GCEO) Hatem Bamatraf said that revenue for the PTCL Group climbed by 10.2 percent from the prior year to Rs. 151.6 billion, mostly due to the consumer segment’s robust performance, which was led by fixed broadband, mobile data, wholesale solutions, and business solutions, as well as microfinance services.

Hatem said that the depreciation of the rupee versus the US dollar, high-interest rates, and other expenses related to the purchase of the 4G spectrum and the rollout of the associated networks kept the group’s profitability under pressure.

In comparison to 2021, the company’s operating profit has increased by 17 per cent to Rs 4.9 billion. Net profit of Rs 9 billion is up 31.7 per cent from the previous year and is the highest since 2013.

The business services segment maintained its market dominance in IP Bandwidth, Cloud, Data Center, and other ICT services segments. PTCL’s Enterprise business grew by 18.8 per cent as compared to the prior year, while Carrier and Wholesale business continued its growth momentum and achieved 11 per cent overall revenue growth.

International voice revenue has increased by 8.5 per cent as compared to last year. Overall Business Solutions revenue has grown by 12.5 per cent on year-on-year basis.