ISLAMABAD:
Pakistan Telecommunication Company Limited (PTCL) has continued to face massive losses that amounted to Rs14.39 billion on a consolidated basis for the year ended December 31, 2024. In comparison, the company had incurred a loss of Rs16.73 billion in 2023.
According to a public notice issued to Pakistan Stock Exchange (PSX) on Wednesday, the PTCL group sustained a loss per share of Rs2.82, which was lower than the loss per share of Rs3.28 in 2023. PTCL registered a pre-tax loss of Rs20.9 billion in 2024 compared to Rs22.9 billion in 2023. During the year under review, operating expenses stood at Rs51.3 billion, higher by 27% compared to Rs40.5 billion in 2023.
Despite that, the telecom company recorded an operating profit of Rs6.12 billion, significantly higher from Rs2.27 billion in 2023. Meanwhile, in a statement, the PTCL group claimed that it had achieved an impressive double-digit revenue growth of 17% during financial year 2024. “The group’s robust performance solidifies its position as Pakistan’s top integrated telecom service provider,” it said.
The PTCL group posted revenue of Rs219.7 billion, driven by robust growth in consumer segments including fixed broadband and mobile data as well as wholesale and business solutions.
Individually, PTCL posted a 12% year-on-year revenue growth while maintaining its upward trajectory. Its revenue soared to Rs107.7 billion, fueled by robust growth in fixed-line, wholesale and business solutions.
Ufone (Pakistan Telecom Mobile Limited – PTML) reported a 25% YoY revenue growth. “The continuous strong topline growth and cost optimisation measures over the last few years have helped Ufone get back into a positive operating profit with a strong EBIT (earnings before interest and taxes) of Rs4.6 billion,” the statement said.
It pointed out that the signing of a share purchase agreement for the acquisition of 100% shares in Telenor Pakistan by PTCL was announced in December 2023. “The closing of the transaction is subject to regulatory approvals as well as customary terms and conditions and is expected to take place during the first half of 2025.”
Flash Fibre, PTCL’s premium fiber-to-the-home (FTTH) service, dominated the market in 2024, capturing a significant share of the industry net additions. The company reported an operating profit of Rs12.2 billion, reflecting a 55% growth over last year, and a net profit of Rs4.8 billion for 2024.
According to the statement, PTCL’s aggressive FTTH expansion has fueled its topline growth. Building on the previous year’s momentum, the company prioritised delivering the fastest and most reliable internet services through its flagship FTTH brand Flash Fibre. “This customer-centric approach has cemented PTCL’s position as a market leader, capturing the majority share of net additions (around 50% of the industry net additions) in the FTTH segment,” it said. The fixed broadband business achieved a 20% YoY growth while Flash Fibre posted a YoY growth of 104%. With over 650,000 FTTH subscribers, the statement said, PTCL’s ongoing FTTH expansion continued to yield outstanding results.
