Monday, April 15, 2024

PTCL Revenue Grows Up to 7% During First Quarter of 2021

At its Board of Directors meeting on April 11, 2021 in Islamabad, Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, announced its financial results for the quarter ended March 31, 2021.

The substantial revenue growth was primarily driven by good results in the Consumer segment and continued growth momentum in Business Services, which helped PTCL achieve 7% revenue growth for the first time since Q1 of 2014. Despite the detrimental effects of the coronavirus pandemic, this was accomplished.

In the first quarter of 2021, the PTCL Group recorded revenue of Rs 33.9 billion, up 6.7 percent from the same time the previous year, thanks primarily to PTCL and U Bank. The PTCL Group made a net profit of Rs 1.6 billion in the first quarter of this year, compared to a loss of Rs 0.4 billion the previous year.

The company’s topline growth was successfully restored thanks to the rapid deployment of Fiber-To-The-Home (FTTH) network under project ‘Sunrise Pakistan,’ an ambitious commercial strategy aimed at enhancing consumer experience, and the expansion of its digital portfolio. This program of topline development and cost management greatly improved the bottom line.

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