PTCL posts highest revenue growth since 2013

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PTCL posts highest revenue growth since 2013

The country’s leading telecom and ICT services provider, Pakistan Telecommunication Company Limited (PTCL), posted 7% growth in its revenues, owing to a robust commercial strategy that cements its market standing. 

The company has announced its annual financial results for the year 2021 at its Board of Directors’ meeting on February 10, 2022.

PTCL Group 

  • PTCL Group posted a revenue of Rs 138 billion in the year 2021 which is 6.3% higher as compared to 2020.
  • PTCL continued its growth trajectory by posting 7% YoY revenue growth which is the highest since 2013.
  • PTML (Ufone) also posted a revenue growth of 4.3% despite stiff competition in the market.
  • U Bank continued its growth momentum and has achieved 8.4% growth in revenue. 
  • PTCL Group has posted a net profit of Rs 2.6 billion.

PTCL 

  • PTCL continued its strong performance throughout 2021. PTCL’s revenue of Rs 77 billion for the year 2021 is 7% higher than 2020, mainly driven by Broadband and Corporate & Wholesale business segments.
  • PTCL registered highest Fixed broadband Sales and Net Adds in 2021 since 2015, which allowed PTCL to grow in the broadband business segment.
  • PTCL is the fastest growing Fiber-To-The-Home (FTTH) operator with highest Net adds within FTTH market in 2021.
  • The company has posted operating profit of Rs 4.2 billion, which is higher by 21% compared to 2020.
  • Net profit of Rs 6.9 billion is higher by 14% as compared to last year. 

The company is continuously upgrading its existing infrastructure and network, besides expanding FTTH across the country to offer seamless connectivity for greater customer experience. Prompt deployment of FTTH and strong performance in Corporate and Wholesale segments are the cornerstone in PTCL’s topline growth, which along with focus on cost optimization program, has significantly increased the company’s profitability. 

PTCL Consumer Business

During 2021, the company’s Fixed Broadband business grew by 11.7% YoY, whereas PTCL IPTV segment also grew by 13% YoY. Within broadband business, PTCL Flash Fiber, the company’s groundbreaking FTTH service, showed a tremendous growth of 61.5%, whereas PTCL CharJi /Wireless Broadband Segment grew by 16.5%. Voice revenue stream has declined on account of lower voice traffic and continued conversion of customers to Over-The-Top (OTT) services. 

Business Services

Business services segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services segments. PTCL’s Enterprise business grew by 10% as compared to last year, while Carrier and Wholesale business continued its growth momentum and achieved 9% overall revenue growth. Similarly, international business growth was recorded at 4%.

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Being the national telecom carrier and connectivity backbone in Pakistan, PTCL Group strives to provide innovative solutions to accelerate growth for a ‘Digital Pakistan’ through robust telecommunication infrastructure and a diverse portfolio of services with enhanced customer experience. 

PTML – Ufone

  • Ufone’s financial year 2021 ended on a high note despite challenging operating environment
  • Ufone revenues grew by 4.3% as compared to 2020 mainly driven by growth in data services
  • Ufone acquired additional 9 MHz 4G spectrum in the 1800 MHz Band in NGMS spectrum auction in September 2021, fulfilling its commitment to provide enhanced customer experience through quality services across Pakistan.
  • Post spectrum auction, significant network modernization activity was carried out in Q4 2021 that has allowed Ufone to significantly improve its share of the 4G net adds within the industry. 

PTCL Group is playing a key role in supporting Universal Service Fund’s (USF) efforts for the development of telecommunication services in un-served and under-served areas of the country. This year, PTCL was awarded seven USF optical fiber projects for far flung areas of Punjab, KPK and Sindh provinces. Under these projects, PTCL will deploy a total of 4,690 KM optical fiber. Ufone was awarded five USF projects under the Broadband for Sustainable Development (BSD) umbrella during 2021 for the unserved and under-served areas of Baluchistan which involve deployment and network upgrade of 205 BTS sites.

UBank

UBank, the microfinance and branchless banking subsidiary of PTCL, continued its growth trajectory and has achieved 8.4% growth in its revenue over last year by increasing its advances portfolio. The balance sheet footing of the bank crossed the Rs 100 billion mark as the bank diversified its funding streams and asset classes while ensuring positive bottom-line impact. 

Major strategic initiatives undertaken by the bank include venturing into the low-cost housing loans, international remittance, and the launch of Islamic Banking. The bank intends to invest in state-of-the-art technology to become a leading digital banking player. With the core mission of microfinance at its heart, the business model of the bank is evolving to capture new segments and customer classes to include more of Pakistan into the banking net and further its ambition of financial and social inclusion.

Corporate Social Responsibility (CSR)

During 2021, PTCL ran the second cohort of its flagship internship program ‘Justuju’ for Persons with Disabilities (PWDs) in collaboration with ‘Network of Organizations Working with Persons with Disabilities, Pakistan’ (NOWPDP). 

PTCL provided internet connectivity to 11 campuses of the Pehli Kiran Schools Islamabad in an effort to support the Education Sector in Pakistan. PTCL Razakaar and the company’s employee volunteer force undertook a comprehensive clothes donation drive in partnership with Akhuwat Clothes Bank for deserving communities across Pakistan. Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) recognized the PTCL Razakaar Trust for its generous donation towards augmenting COVID-19 testing facilities of the center during the peak of the pandemic in 2020.

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