PTCL Group Announces Stellar 17% Revenue Growth in 2024, Driven by Strong Performance Across Segments
PTCL Group has announced its impressive financial results for the year ending December 31, 2024, reporting a 17% surge in revenue, reaching Rs 219.7 billion. This substantial growth is attributed to robust performance across key segments, including fixed broadband, mobile data, wholesale, and business solutions. PTCL itself saw a 12% year-over-year revenue increase, while Ufone (PTML) reported a remarkable 25% jump, returning to profitability with a strong EBIT of Rs 4.6 billion. U Microfinance Bank (U Bank) also received accolades for its Islamic retail banking offerings. The group also announced the signing of an SPA for the acquisition of 100% shares of Telenor Pakistan, expected to close in the first half of 2025, pending regulatory approvals.
Women Entrepreneurs Empowerment and Success Through Ba-Ikhtiar Project
Ufone Returns to Profitability, PTCL’s FTTH Expansion Fuels Growth, and Innovative Services Drive Success
PTCL’s success story is marked by a 12% YoY revenue growth, reaching Rs 107.7 billion, driven by its aggressive FTTH expansion under the “Flash Fiber” brand. Capturing approximately 50% of industry net adds in the FTTH segment, Flash Fiber experienced an unprecedented 104% YoY growth, with over 650,000 subscribers. PTCL’s operating profit grew by 55% to Rs 12.2 billion, and net profit reached Rs 4.8 billion. The company also launched innovative services like the SHOQ TV Box, Flash Eye smart cameras, and a WhatsApp bot for customer service.
Zong 4G Partners with Park View City
PTCL Group’s Business Solutions segment solidified its position as a leading digital enabler, expanding its data centers and cloud platforms. Ufone 4G’s 25% revenue growth is a testament to its focus on customer experience and digital engagement. Ufone surpassed 26 million overall subscribers and 17 million 4G subscribers. The mobile financial services also witnessed remarkable growth with the launch of Nano Lending and Mastercard, achieving a ~75% increase in transactions and a 2x growth in MFS MAU’s. PTCL and Ufone 4G also launched a unified digital app, ‘UPTCL’.
LUMS develops case study on JazzCash’s remarkable turnaround
PTCL Group’s commitment to excellence was recognized with several prestigious awards, including a GSMA GLOMO Award for Ufone 4G, a LEAD Award from the SAMENA Telecommunications Council, and Black Dragon awards for its digital campaigns. The group also made significant contributions to social impact through its ‘Dil Se’ platform, empowering women entrepreneurs, providing disaster relief, supporting education, and participating in public health initiatives like polio eradication. The company also sponsored national sports teams and athletes.
- Onic Becomes Pakistan’s First Telco to Launch Free GPT-4o Premium
- Engro, Jazz, and VEON Finalize Landmark Telecom Infrastructure Partnership in Pakistan
- Zong Officially Launches Z SAIS Cloud, Paving the Way for a Digital Pakistan
- Pakistan Leads South Asia in Women’s Mobile Internet Growth
- Zong Hosts Awareness Session with NOWPDP to Promote Disability Inclusion
- Zong Empowers Marginalized Students at Kohsar School with Digital Education