Pakistan Telecommunication Company Limited (PTCL), a prominent telecom and ICT service provider in Pakistan, has released its financial results for the year ending December 31, 2024. The results were announced at a Board of Directors meeting in Islamabad.
The PTCL Group experienced a significant 17% increase in revenue for 2024, reinforcing its position as the leading telecom service provider in the country.
Key Highlights for PTCL Group:
- PTCL Group’s revenue reached Rs 219.7 billion, driven by growth in areas like fixed broadband, mobile data, and business solutions.
- PTCL saw a 12% year-over-year revenue increase, continuing its growth trend.
- Ufone (PTML) reported a remarkable 25% year-over-year revenue boost.
- Thanks to effective cost management, Ufone achieved a positive operating profit with an EBIT of Rs 4.6 billion.
- U Microfinance Bank (U Bank) was named the Best Microfinance Bank for Islamic Retail Banking in Pakistan at the 2024 Islamic Retail Banking Awards.
In December 2023, PTCL announced its agreement to acquire 100% of Telenor Pakistan’s shares, with the deal expected to close in the first half of 2025, pending regulatory approval.
PTCL’s Outstanding Performance in Pakistan in 2024:
- PTCL’s revenue climbed to Rs 107.7 billion, up 12% from 2023, with strong growth in fixed-line and business solutions.
- Flash Fiber, PTCL’s top FTTH service, led the market in 2024, capturing a major share of new users.
- The company saw a 55% rise in operating profit to Rs 12.2 billion, with a net profit of Rs 4.8 billion.
PTCL’s aggressive expansion of FTTH services has driven significant growth. By focusing on delivering fast and reliable internet through Flash Fiber, PTCL has become a market leader, capturing about 50% of new FTTH subscribers.
The fixed broadband sector grew by 20% year-over-year, while Flash Fiber saw an impressive 104% growth. With over 650,000 FTTH subscribers, PTCL’s ongoing expansion continues to strengthen its industry leadership.
Throughout the year, PTCL Group introduced several new services, including:
- SHOQ TV Box: A Google-powered Android TV box that enhances TV viewing.
- Flash Eye: HD IP cameras exclusively for Flash Fiber customers.
- WhatsApp Bot: A self-service platform for tasks like filing complaints and accessing billing details.
PTCL Group Business Solutions Highlights:
In 2024, PTCL Group bolstered its role as a key digital enabler by expanding its Data Centres and Public Cloud offerings, covering a range of services. The company enhanced enterprise solutions and provided secure, efficient Multi Cloud services across various sectors.
PTML – Ufone 4G Highlights:
Ufone 4G’s revenue grew by 25% in 2024, showcasing resilience through improved customer experience and strategic digital partnerships.
- Ufone 4G’s growth is a testament to its focus on customer satisfaction and digital innovation, surpassing 26 million total users and 17 million 4G users.
- Ufone integrated value-added services like Golootlo and UCloud into its products for a richer customer experience.
In 2024, Ufone 4G introduced offerings such as:
- Data Roaming Offer: A special data plan for prepaid customers travelling to Saudi Arabia for Hajj and Umrah.
- Roam Like Home: An international roaming service for seamless connectivity in 27 destinations.
PTML’s digital brand, ONIC, saw significant growth with a tripling of subscribers and a sevenfold increase in revenue. PTCL Group’s mobile financial services also expanded with Nano Lending and Mastercard, doubling active users.
Awards and Achievements:
In 2024, PTCL Group received several awards, highlighting its leadership in telecom and ICT services in Pakistan.
- Ufone 4G won the GLOMO award for ‘Best Mobile Innovation for Emerging Markets.’
- PTCL Group was recognized for its business strategy at the LEAD Awards by the SAMENA Telecommunications Council.
Social Impact Initiatives:
PTCL Group launched ‘Dil Se,’ a platform for its community service projects. The ‘Ba-Ikhtiar’ initiative, in partnership with the Pakistan Poverty Alleviation Fund, empowered women entrepreneurs in Haripur with essential skills and tools.
The Group also focused on social welfare through initiatives like providing free train tickets, e-bikes for students, and clean drinking water facilities. They supported the deaf community with an AI-powered disaster alert system and organized a women’s cricket tournament in Khyber Pakhtunkhwa to promote gender equality in sports.
PTCL Group continued its commitment to public health and education through projects like a water pump installation in Gwadar and a blood donation drive. They also partnered with UNICEF to raise awareness about polio vaccinations.
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