ISLAMABAD: Jazz, Pakistan’s largest mobile network operator, invested Rs3.7 billion in the first quarter of 2023 and added more than 1,000 new 4G sites, bringing its overall investment in Pakistan to $10.4bn.
Despite a 16 per cent growth in overall revenues in local currency, Jazz’s revenue decreased 20.4pc in dollar terms during January-March, mainly due to a massive depreciation in the rupee.
The company has said that the profit margins have been affected by a significant increase in business costs such as the increase in interest rates, fuel and electricity costs.
Published in Dawn, May 5th, 2023
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