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ISLAMABAD: Despite a 15.3 per cent growth in revenues, the Pakistan Telecommunication Company Ltd (PTCL) on Tuesday announced net loss widened by 41pc to Rs15.3 billion in the third quarter of calendar year 2024 compared to Rs10.82bn in the same period of 2023.
In a meeting, the board of directors reviewed the financial result and acknowledged PTCL Group’s revenue growth to Rs160.6bn during the July-September period.
The meeting noted that the revenue growth was mainly driven by solid performance in the consumer segment led by fixed broadband, mobile data, and wholesale and business solutions.
The company said PTCL’s aggressive deployment of Fiber-to-The-Home (FTTH) was the cornerstone of top-line growth.
PTCL’s fixed broadband business showed a 20.4pc increase, and the Flash Fibre surged by 111.5pc in the July-September quarter.
The other business services segment of PTCL showing growth included IPCloud, data centre and ICT services in addition to showing promising results in the carrier and wholesale and international business and PTCL enterprise business grew by 38.3pc in the quarter under review.
The meeting noted that during the first nine months of 2024, PTCL revenue rose 11.1pc to Rs79.5bn, compared to last year. However, the company posted a net profit of Rs1bn in January-September.
At the same time, Ufone 4G posted a growth of 25.6pc in top-line during the first nine months of the current calendar year, supported by solid network expansion and strategic initiatives.
Published in Dawn, October 16th, 2024
