Islamabad, Oct 31: Telenor Pakistan Reports 6.7% Revenue Growth, Reaching Rs. 30.11 Billion in Q3 2024.In the third quarter of 2024, Telenor Pakistan reported revenue growth of 6.7% year over year, coming in at Rs. 30.11 billion as opposed to Rs. 28.2 billion in the same quarter of 2023.
While going through a disposal process in Q3 2024, the company resumed strong EBITDA growth despite challenging macro conditions. According to its third-quarter 2024 report, Telenor Pakistan demonstrated sustained increase in service revenues in Asia, with organic growth of 8%.
This growth was primarily driven by the company’s ongoing monetization strategy, which countered the 3% decline in its subscription base.According to the report, Pakistan’s political and economic circumstances raise the possibility of financial instability, security issues, and civil upheaval.
The main cause of Telenor Pakistan’s 11% annual growth in ARPU was monetization efforts. Due mostly to the reversal of energy accruals, Opex climbed by 6% less than anticipated. In December 2023, it was reported that Telenor Pakistan would be sold to Pakistan Telecommunications Company Ltd. Until the required approvals are obtained to complete the purchase, Telenor Pakistan stays a part of the Asia-Pacific business area.
Due mostly to lower fuel tariffs, the growth in opex, even when excluding the effects of these reversals, is still smaller than the patterns observed in earlier quarters of this year. Telenor Pakistan’s EBITDA grew by a respectable 9% because to strong top-line growth, a lower inflation rate, and accrual reversals that reduced opex.
Asia’s total service revenues fell by 1%, with Grameenphone’s (Bangladesh) fall more than offsetting Telenor Pakistan’s rise. The top-line drop has an impact on EBITDA for Asia as well, leading to a 3% organic decline.
