PTCL books 38% improvement in annual profit; completes 5G trial

11 Feb 2021

Pakistan Telecommunication Company Limited (PTCL) – which is majority owned by the state but minority stakeholder Etisalat of the UAE has management control – has booked consolidated revenues of PKR129.4 billion (USD806.6 million) for the year to end-December 2020, largely unchanged from PLR129.5 billion in the preceding year. Net profit rose by 37.7% year-on-year to PKR3.2 billon, with the group attributing the improvement to a combination of stability in its top line, cost optimisation initiatives and favourable interest and exchange rate movements. PTCL’s standalone revenue was up 0.4% y-o-y to PKR71.8 billion, although the operator notes that turnover was trending downwards for the first three quarters of the year, but this was reversed by strong customer acquisitions in the final three months of the year.

Separately, meanwhile, the company announced that it had completed a successful test of 5G technology at its Islamabad headquarters. The tests achieved peak downlink speeds of 1.685Gbps and showcased applications including remote surgery and cloud gaming.