Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the half year ended June 30, 2022, at its Board of Directors’ meeting held in Islamabad on July 18, 2022.
PTCL has reported an increase of 38.90 percent in its profits during the period. According to a notification to the Pakistan Stock Exchange (PSX), the company reported a profit of Rs. 5.18 billion in the first half year that ended on June 30, 2022 as compared to a profit of Rs. 3.73 billion in the same period last year.
During the first six months of 2022, PTCL Group successfully managed to keep the top line growth momentum, which further strengthened its market standing as an integrated telecom services provider in Pakistan.
Growth in revenue of the PTCL Group is mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and business solutions, along with microfinance services that supported the Group in achieving 5.7 percent growth in revenue over the comparative period despite the challenges of the increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR).
However, PTCL group has reported a loss of Rs. 3.05 billion during the first six months as compared to a profit of Rs. 2.93 billion in the same period last year.
PTCL’s revenue of Rs. 40.0 billion for the period is 4.7 percent higher than 2021, mainly driven by growth in broadband and business solutions segments. The company has posted an operating profit of Rs. 1.9 billion.
