Sunday, May 19, 2024

PTCL’s Profits Skyrocket to 188% Growth in 3 Months

The top provider of telecom and ICT services in the nation, Pakistan Telecommunication Company Limited (PTCL), has released its financial results for the three months that concluded on March 31, 2023. The declaration was made on April 17, 2023, in Islamabad, during a Board of Directors meeting.

PTCL has recorded a significant increase in its profits throughout the period of 188 percent on a stand-alone basis. The company declared a profit of Rs. 5.47 billion in the first quarter of 2023 as opposed to Rs. 1.90 billion in 2022, according to a notification to the Pakistan Stock Exchange (PSX).

Despite the very difficult macroeconomic environment, the Group saw a gain in revenue of 23.2% when compared to the same time last year.This significant increase in revenue is mostly related to the fixed broadband, mobile data, business solutions, and banking services sectors’ good success.Businesses were still negatively impacted by the macroeconomic issues that surfaced in 2022 in 2023 as well. Telecom providers are struggling to offer their customers high-quality services at a reasonable cost due to the ongoing increases in energy and fuel prices.

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