PTCL Profit Up 32% to Rs. 9 Billion in 2022

PTCL has reported an increase of 32 percent in its profits during the period. According to a notification to the Pakistan Stock Exchange (PSX), the company reported a profit of Rs. 9 billion in 2022 as compared to a profit of Rs. 6.8 billion in 2021.

Pakistan Telecommunication Company Limited (PTCL), posted 8.6 percent growth in its revenues, owing to its strong performance in both retail and business segments, whereas Ufone achieved 7.1 percent growth in its revenues. The Group’s subsidiary, U Microfinance Bank, kept a strong momentum and posted 35.4 percent revenue growth during 2022.

The company announced its annual financial results for the year 2022 at its Board of Directors’ meeting held in Islamabad.

PTCL Group

The Group has posted a net loss of Rs. 7.8 billion in 2022 as compared to a profit of Rs. 2.5 billion in 2021.

PTCL Group’s revenue has increased by 10.2 percent YoY to Rs. 151.6 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale & business solutions, along with microfinance services.

The Group’s profitability remained under pressure due to significant hikes in power and fuel tariffs, devaluation of the Pak Rupee against USD, higher interest rates, and other costs associated with the acquisition of the 4G spectrum and related network rollout.


PTCL continued its strong performance throughout 2022. PTCL’s revenue of Rs. 83.4 billion for the year 2022, the highest ever in its history, is 8.6 percent higher than in 2021, mainly driven by growth in broadband and wholesale & business solutions segments.

Flash Fiber, PTCL’s premium Fiber-To-The-Home (FTTH) service, showed tremendous growth with the highest Net adds within the FTTH market in 2022.

The company has posted an operating profit of Rs. 4.9 billion, which is 17 percent higher as compared to 2021. Net profit of Rs. 9 billion, the highest since 2013, is 31.7 percent higher as compared to last year.

PTCL continued to upgrade its existing infrastructure and network, besides expanding its premium FTTH internet Flash Fiber across the country to offer seamless connectivity for a greater customer experience. Prompt deployment of FTTH and strong performance in Corporate and Wholesale segments are the cornerstones of PTCL’s topline growth, which along with a focus on the cost optimization program, has significantly increased the company’s profitability.

PTML – Ufone

In the year 2022, Ufone has recorded positive Net Adds with 3.9 percent YoY growth in its subscriber base and has gained market share within the industry.

Since the acquisition of spectrum, Ufone has grown from strength to strength registering 7.1 percent YoY revenue growth in 2022 despite the challenges of an increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR) and recent floods in the country.

This growth has been achieved through investment in the network, aggressive product offering focusing on data, and regional play.

The year 2022 was marked with a prime focus on data portfolio enrichment. An array of new offerings was launched targeting the data-savvy younger segment resulting in more than 40 percent growth in data revenue.

Owing to its infrastructure modernization and fast deployment of 4G services across the country, the company has set a higher bar in voice and data service quality. Pakistan Telecommunication Authority (PTA), in its nationwide service quality benchmarking during 2022, declared Ufone the No. 1 voice and data network.

Ufone 4G has officially partnered with Islamabad United, the most successful franchise in HBL PSL history and the winner of the first and third editions of the tournament. The company will be the official telecommunications partner for the franchise for PSL 8.

During the second quarter, VIS Credit Rating Company has assigned initial entity ratings of ‘AA-/A-1’ (Double A Minus/A-One) to Ufone with an outlook on the assigned ratings as ‘Stable’. This acknowledges the financial strength of Ufone through an independent rating exercise which also denotes high credit quality and good fundamental protection factors and is a testimony of stakeholders’ confidence in Ufone.

U Bank

U Bank, the microfinance and branchless banking subsidiary of PTCL continued its growth trajectory and achieved 35.4 percent growth in its revenue over the last year by deepening its advances and investment portfolio, despite the challenging macroeconomic situation, further exacerbated by the recent flood.

The balance sheet footing of the bank reached Rs. 221 billion as the bank continued to diversify its asset classes and funding streams while ensuring a positive bottom-line impact. As the six business canvases of the bank, namely: Rural Retail Banking, Corporate Finance & Investment Banking, Islamic Banking, Urban Retail Banking, Corporate Banking, and Digital Banking take their distinct forms and structures, the Bank is working towards becoming a Retail Challenger Bank aiming to extend banking services in accordance with the unique needs of its diverse and heterogeneous clientele.

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 in the banking network and further its ambition of financial and social inclusion.

PTCL Business Solutions

The business services segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Centers, and other ICT services segments. PTCL’s Enterprise business grew by 18.8 percent as compared to last year, while Carrier and Wholesale business continued its growth momentum and achieved 11 percent overall revenue growth. International voice revenue has increased by 8.5 percent as compared to last year. Overall Business Solutions revenue has grown by 12.5 percent on a year-on-year basis.

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.

PTCL Consumer Business

PTCL fixed broadband business has shown 12.2 percent YoY growth propelled by the aggressive FTTH expansion. Flash Fiber showed unprecedented growth of 102.7 percent, taking lion’s share of the market’s net adds, whereas the PTCL IPTV segment also grew by 8.1 percent YoY. Voice and wireless broadband segments witnessed a decline due to the conversion of customers to OTT services and competition from cellular operators.

PTCL has recently launched Pakistan’s largest OTT Streaming platform ‘SHOQ’ to provide premium entertainment, sports, and news content to all data users. As internet penetration has increased manifolds during the last few years, Pakistan needed a high-quality local OTT service that offers affordable entertainment.

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