Pakistan Telecommunication Limited (PTCL), the leading telecommunication and ICT service provider in Pakistan, has announced their official results for the first quarter of the year growth in 2019 ending on March 31, which year on year showed a growth of 11 percent.
This was subtly announced at a meeting by PTCL’s Board of Directors held in Islamabad on April 17th, 2019.
PTCL Group has shown a year-on-year revenue growth by 11 percent to Rs. 33.5 Billion due to excessive growth in the Ufone and uBank reserves.
Ufone Revenue has increased double digits Year-On-Year, bank, which is a micro-financing, banking subsidiary of PTCL, has shown the most significant growth of over 53% in this quarterly revenue over the last year.
PTCL’s operating profit improved by 34% and net profit by 95% for the quarter, as a result of the overall revenue of the quarter growth in 2019.
This year’s quarterly revenue was about Rs. 17.9 Billion was lower than the last year’s quarter. PTCL Group’s Flagship Broadband services posted a revenue growth of 5.8% over the last year.
PTCL CEO stated that, “We are taking digital initiatives, including the task to upgrade top 100 exchanges under Network Transformation Project (NTP) in different parts of the country. The results are significant for the 76 exchanges fully transformed to date in 12 cities as YoY revenue growth is even higher at 12 per cent and there is a 40 percent reduction in customer complaints”
Wireless revenue has declined if seen in the over quarterly year-on-year basis. This is essentially due to the strong competition in the market by cellular companies providing wireless data services.
The corporate business sector has achieved maximum growth in 2018 to maximize the revenues to double digit growth Year-On-Year.
Being one of the best National Company, PTCL has also handed in to support the movie “Sherdil” and highlight their love for the Pakistani Nation.