PTCL Reports a 38.8% Profit Growth in the First Half of 2022

• Strong performance in the consumer segment led by fixed broadband.
• Microfinance boosted PTCL Group’s revenue by 5.7%.
• PTCL Group was able to keep its top-line growth going strong in the first half of 2022.

Pakistan Telecommunication Company Limited (PTCL), the country’s largest provider of telecom and ICT services. They met with its Board of Directors in Islamabad on July 18, 2022 to talk about its financial results for the half year that ended on June 30, 2022.

During the time period, PTCL said that its profits went up by 38.90%. According to a report sent to the Pakistan Stock Exchange (PSX), the company made Rs. 5.18 billion in the first half of its fiscal year, which ended on June 30, 2022. In the same time period last year, the company made Rs.

PTCL Group was able to keep its top-line growth going strong in the first half of 2022, which made it a stronger player in the Pakistani market as an integrated telecom services provider.

Strong performance in the consumer segment led by fixed broadband, mobile data, business solutions, and microfinance services helped the PTCL Group achieve 5.7% revenue growth over the comparative period despite the increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR).

PTCL group lost Rs. 3.05 billion in the first six months, compared to a profit of Rs. 2.93 billion last year.

PTCL’s revenue of Rs. 40.0 billion is 4.7% higher than 2021, primarily by broadband and business solutions. The firm earned Rs. 1.9 billion.

Operating profit for the quarter remained under pressure compared to previous year owing to higher electricity and fuel rates. PTCL’s Net Profit of Rs. 5.2 billion is 38.8% more than previous year’s.

According to the company’s results, an increase in non-operating income due to translation gain on the Company’s forex-denominated assets, dividend income from a subsidiary, and gain on disposal of obsolete assets due to network upgrade and fiberization helped turn a 32.6% decrease in operating profit into a 38.8% increase in net profit.