Islamabad, Feb 12: Pakistan Telecommunication Company Limited (PTCL) has released its financial results for the year ending December 31, 2024, showcasing significant growth across all business segments. With a robust strategy, PTCL Group has strengthened its position as the country’s leading integrated telecom provider.
Financial Performance Highlights
PTCL Group recorded a 17% year-over-year (YoY) revenue increase, achieving a total revenue of Rs. 219.7 billion. This growth was primarily driven by expansions in fixed broadband, mobile data, and business solutions.
- PTCL Revenue Growth: PTCL posted a 12% YoY revenue increase, reaching Rs. 107.7 billion.
- Ufone Performance: Ufone 4G reported a 25% YoY growth, achieving Rs. 4.6 billion in operating profit.
- U Microfinance Bank: Recognized as the Best Microfinance Bank for Islamic Retail Banking at the 10th IRBA Awards 2024.
The company’s revenue expansion was fueled by aggressive investment in Fiber-to-the-Home (FTTH) services, with its flagship Flash Fiber capturing nearly 50% of industry net additions. PTCL’s operating profit surged by 55%, reaching Rs. 12.2 billion, while net profit stood at Rs. 4.8 billion.
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Strategic Developments
One of the key milestones for PTCL in 2024 was the announcement of its acquisition of Telenor Pakistan. The deal, disclosed in December 2023, is pending regulatory approvals and is expected to finalize in the first half of 2025. This acquisition is set to expand PTCL’s market dominance and further enhance customer experience.
Innovative Offerings & Digital Expansion
PTCL Group introduced several new services and digital solutions:
- SHOQ TV Box: A next-generation Android TV-powered streaming service, transforming entertainment consumption in Pakistan.
- Flash Eye: A smart home surveillance solution offering high-definition IP cameras exclusively for Flash Fiber users.
- WhatsApp Bot: A self-service platform enabling users to manage bills, register complaints, and access tax certificates conveniently.
Additionally, PTCL Group expanded its data center and cloud infrastructure, strengthening Pakistan’s digital ecosystem with advanced multi-cloud solutions for businesses, banks, and government institutions.
Ufone 4G’s Outstanding Performance
Ufone 4G continued its upward trajectory with a 25% revenue increase and rapid growth in its 4G subscriber base, surpassing 17 million 4G users in 2024. The company introduced new services to enhance customer engagement, including:
- Roam Like Home: A seamless international roaming plan covering 27 countries.
- Data Roaming for Hajj & Umrah: Special packages for travelers to Saudi Arabia.
Ufone also integrated Golootlo, Waada, Shoq, and UCloud services to offer enhanced digital experiences to users.
Social Impact & Community Initiatives
PTCL Group expanded its CSR efforts under the ‘Dil Se’ initiative, focusing on women empowerment, education, and disaster relief. Key initiatives included:
- Ba-Ikhtiar: A program supporting women entrepreneurs in Haripur with vocational training and digital financial literacy.
- AI-Powered Disaster Alerts: A GSMA-funded project with ConnectHear, creating an inclusive early warning system for the deaf community.
- Clean Water Access: Installation of hand pumps in Umerkot, benefitting 15,000 residents.
- Polio Eradication Drive: A partnership with UNICEF to spread awareness through Ufone’s nationwide network.
PTCL Group also played a major role in promoting sports by sponsoring the Pakistan Hockey Team and appointing Olympic Gold Medalist Arshad Nadeem as its brand ambassador.
