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Jazz Records Highest Ever Revenues During FY2020

Jazz today announced that it generated its highest ever revenue of Rs. 52.26 billion during Q4, 2021 which is some 3.6% higher than Rs. 50.451 billion revenue that it reported during the same period last year.

The company reported almost Rs. 200 billion in revenue during the entire year ending December 31st, 2020.

Jazz has said that revenue growth was mainly due to a strong quarter for mobile data revenue, which grew by 27% year on year. Expansion in user base also played a key role for the growth, which grew by 3 million new users during the Q4, 2020.

Jazz said that such growth in users was made possible to the rapid expansion of its 4G network, which reached 38% during the quarter, as compared to 26% penetration recorded in 4Q19, and saw a rise of 61% YoY in 4G users.

Data revenue for Jazz increased by 26.7% to Rs. 19.1 billion during Q4, 2020 as compared to Rs. 15.1 billion it reported during the same period last year.

Having said this, it must be mentioned that 2020 was a COVID year where customers suffered heavily and hence the spending on the telecom services.

ARPU

Jazz’s ARPU declined by 7% YoY — to Rs. 241 per user month during Q420, down from Rs. 259.7 per user per month during the same period last year — mainly due to the administration fee adjustment in Q4 2019 and overall softness in revenues due to the impact of COVID-19.

Jazz said that it will continue with its strategy of focusing on higher quality of sales in order to further improve the customer mix of its subscriber base, leveraging network quality and higher bundle penetration to help achieve this.

JazzCash

JazzCash’s — on the backdrop of COVID — continued to show strong momentum as the user base saw double-digit growth, finishing the quarter with 12.2 million monthly active users (up 67% YoY) and 27.4 million registered wallets (+47% YoY) in 4Q20.

The State Bank of Pakistan’s temporary removal of fees on money transfers impacted JazzCash’s total revenues, which declined by 27.4% YoY.

Financial Highlights:

Aamir Ibrahim, CEO of Jazz, said, “Our performance this quarter is reflective of the trust our customers have in us. Growth in 4G users and rising data demands show that Pakistan is digital-ready; however, we need to do more in connecting the underserved to fast, reliable 4G and equip them with the digital tools necessary for a robust and inclusive digital ecosystem.”

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