PTCL Group 6M revenue hits USD415m

18 Jul 2019

Pakistan Telecommunication Company Limited (PTCL) has registered consolidated turnover of PKR66.3 billion (USD415 million) for the six months to end-June 2019, up by 9% year-on-year, with the telco attributing the expansion to the ‘accelerated growth’ at its mobile and financial divisions, Ufone and Ubank. Its fixed line operations, meanwhile, saw a slight dip in revenue for the period of 0.8%, to PKR35.8 billion, despite a 5% increase in earnings from its fixed broadband services. The operator noted, however, that there was a ‘continued decline in domestic and international voice revenues due to continued conversion of subscribers to over-the-top (OTT), cellular and illegal/grey traffic termination, resulting in declining voice traffic volumes’. Nevertheless, PTCL went on to say that it has posted a net profit after tax for the six-month period but did not provide a figure, noting only that it was up 3% from last year. Similarly, the telco stated that its operating profit remained ‘under pressure’ compared to the year-ago period – without giving a figure – citing an increase in operating costs due to currency devaluation and a hike in power tariffs.