PTCL Group Revenue Growth up by 23%
PTCL Group, the leading telecom and ICT services provider in Pakistan, announced its financial results for the first quarter of 2023.
Despite the challenging macroeconomic conditions, PTCL Group achieved a 23.2% growth in its revenue compared to the same period of last year, with strong performance in fixed broadband, mobile data, business solutions, and banking services.
To mitigate the effects of the macroeconomic challenges, policy intervention by the government is required to provide relief to the sector.
PTCL further strengthened its flagship FTTH brand, ‘Flash Fiber’, by acquiring the highest net adds in the industry through exceptional customer experience and aggressive expansion of fiber networks across the country.
PTCL also launched an OTT streaming platform called ‘SHOQ’, which provides premium entertainment, sports, and news content to all data users, and partnered with PUBG Mobile to launch the biggest E-Sports gaming competition through its gaming platform ‘GameKey’.
PTCL Group’s subsidiary, U Bank, achieved a remarkable 73.0% growth in revenue and a 64.5% growth in net profit over the comparative quarter of last year, while maintaining a strong balance sheet position.
Ufone, another subsidiary of PTCL Group, recorded an impressive 20.0% YoY increase in its revenue and achieved the second-highest customer net adds in the industry during the first quarter.
Ufone also launched a WhatsApp service for hassle-free customer experience, collaborated with Nestlé Pakistan Limited to establish an advanced customer service solution for Ufone’s BPO operations, and partnered with Islamabad United for PSL8.How To Pay PTCL Bill online?/ 3 Easy Steps to Follow
Despite the slowdown of economic activity, PTCL Business Services segment sustained market leadership in IP bandwidth, cloud, data center, and other ICT services segments.
It also witnessed 12.1% growth in the enterprise business and 36.9% overall revenue growth in the carrier and wholesale business.
PTCL’s fixed broadband business achieved 17.4% growth in revenue YoY, while the IPTV segment showed a 6.2% revenue growth YoY.
In conclusion, PTCL Group’s strong financial results for the first quarter of 2023 demonstrate its commitment to providing innovative solutions and exceptional customer experience to accelerate growth for a ‘Digital Pakistan’.
PTCL Group’s various CSR initiatives also aim to foster equality and shared growth in the country.
