ISLAMABAD: Pakistan Telecommunication Company Group’s revenue for the half year ended June 30 grew by nine percent to Rs66.3 billion bolstered by Ufone and Ubank operations.

The group’s operating and net profit for the period jumped by 20pc and 10pc respectively, said PTCL Chief Executive Officer Rashid Khan in a press conference on Wednesday.

On the other hand, PTCL’s six-month net profit marginally rose by 3pc to Rs3.8bn compared to Rs3.7bn. However, operating profits fell on the back of rising power tariffs and currency devaluation.

The company officials at the press conference said revenues at the company’s flagship Fixed Broadband services grew by 5pc.

They said the company is upgrading top 100 exchanges under Network Transformation Project across the country at a cost of Rs25bn.

The officials added that wireless revenue for the period has declined on year-on-year basis due to strong competition by the cellular companies providing wireless data services.

Published in Dawn, July 18th, 2019