PTCL books 5% increase in Q3 turnover

19 Oct 2021

State-backed telco Pakistan Telecommunication Company Limited (PTCL) – which offers mobile services through its wholly-owned subsidiary Pakistan Telecommunications Mobile Limited (PTML) under the Ufone brand – has booked consolidated revenue of PKR34.5 billion (USD200.3 million) for the three months to end-September 2021, an increase of 5.4% year-on-year. Operating profit for the quarter was down to PKR1.1 billion from PKR2.1 billion in the year-ago period, on the back of higher service costs and other expenses. Similarly, whilst the group registered a rise in ‘other income’ – PKR3.3 billion compared to PKR2.0 billion in Q3 2020 – the gains were more than offset by a rise in finance costs from PKR1.9 billion to PKR3.5 billion. As such, quarterly net profit fell to PKR747 million from PKR1.5 billion y-o-y.

Consolidated turnover for the first nine months of the year, however, totalled PKR102.4 billion – an increase of 7.0% y-o-y – whilst net profit more than doubled from PKR1.6 billion to PKR3.7 billion. Commenting on its results for the nine-month period, the operator noted that its growth was driven primarily by its Broadband and Corporate and Wholesale segments, supported by its ongoing fibre-to-the-home (FTTH) network construction programme. According to the telco 9M turnover from fixed broadband services was up 12.7% y-o-y, including a 57.5% increase in revenue from its FTTH-based services and 17.8% improvement in income from its fixed-wireless offerings.