Islamabad: Pakistan Telecommunication Company Limited (PTCL), a prominent telecom and ICT services provider in Pakistan, has reported a significant financial upswing for the year 2024, concluding on December 31. This announcement was made during a Board of Directors meeting in Islamabad.
According to a statement by Pakistan Telecommunication Company Limited, PTCL Group achieved a remarkable 17% increase in revenue, reinforcing its status as the leading integrated telecom service provider in the country. The Group’s revenue reached Rs 219.7 billion, driven by significant growth in consumer segments and business solutions.
PTCL itself recorded a 12% year-on-year revenue growth, marking a robust trajectory with revenues climbing to Rs 107.7 billion. This growth was largely fueled by fixed-line, wholesale, and business solutions, along with a substantial rise in its FTTH service, Flash Fiber, which dominated the market with a 104% year-on-year growth.
Ufone, a subsidiary of PTCL, also reported impressive gains with a 25% increase in revenue year-on-year. The company’s strategic focus on customer experience and digital engagement through innovative platforms has been pivotal in its resurgence to positive operating profit, achieving an EBIT of Rs 4.6 billion.
In the microfinance sector, U Microfinance Bank was recognized as the Best Microfinance Bank for Islamic Retail Banking Offerings at the 10th Islamic Retail Banking Awards, underscoring PTCL Group’s expanding footprint in financial services.
PTCL Group’s strategic initiatives in digital and cloud services have further solidified its role as a digital enabler in Pakistan. The expansion of state-of-the-art Data Centers and Cloud Platforms has enhanced its service offerings to a diverse clientele, including government bodies and major financial institutions.
Ufone 4G has been at the forefront of digital innovation, with significant growth in its subscriber base and revenue. Its integration of value-added services and strategic partnerships has enriched customer experience, propelling it to surpass 26 million overall subscribers.
The Group’s commitment to social impact was also evident in 2024, with the launch of ‘Dil Se’, a platform consolidating its community service initiatives. Notable projects included empowering women entrepreneurs in Haripur and supporting the deaf community in disaster preparedness.
PTCL Group’s focus on technological advancement and community engagement has not only resulted in financial success but also in several accolades, including the GSMA Global Mobile Award and the LEAD award for Best Business Strategy and Expansion.
As PTCL Group looks towards future growth, its continued emphasis on innovation, customer satisfaction, and societal contributions remains a cornerstone of its business strategy.