PTCL posted 7% growth in its revenues
Group President & CEO Hatem Bamatraf holds his maiden news conference
PTCL Group President and Chief Executive Officer Hatem Bamatraf has said that PTCL will take any decision on entering into 5G auction process in Pakistan keeping in view the market position and the conditions set by Government in the auction process. He further said, “Currently we are not in the process of any merger or acquisition, but this does not mean that we will not consider any good opportunity.” He was addressing his first news conference at PTCL Headquarters in Islamabad after holding the charge as the group head in May, last year (Previously he was working as Group CTO at Etisalat Headquarters in Abu Dhabi).
Hatem reiterated the company’s determination to strengthen its presence as the only Telecom Company of the country that offers a complete solution towards digitization which also includes operating a Microfinance Bank (UBank). He declared that this year PTCL has posted highest ever revenue growth in nine years. The country’s leading telecom and ICT services provider, Pakistan Telecommunication Company Limited (PTCL), posted 7% growth in its revenues, owing to a robust commercial strategy that cements its market standing.
The company has announced its annual financial results for the year 2021 at its Board of Directors’ meeting on February 10, 2022.
• PTCL Group posted a revenue of Rs 138 billion in the year 2021 which is 6.3% higher as compared to 2020.
• PTCL continued its growth trajectory by posting 7% YoY revenue growth which is the highest since 2013.
• PTML (Ufone) also posted a revenue growth of 4.3% despite stiff competition in the market.
• U Bank continued its growth momentum and has achieved 8.4% growth in revenue.
• PTCL Group has posted a net profit of Rs2.6 billion.
• PTCL continued its strong performance throughout 2021. PTCL’s revenue of Rs 77 billion for the year 2021 is 7% higher than 2020, mainly driven by Broadband and Corporate & Wholesale business segments.
• PTCL registered highest Fixed broadband Sales and Net Adds in 2021 since 2015, which allowed PTCL to grow in the broadband business segment.
• PTCL is the fastest growing Fiber-To-The-Home (FTTH) operator with highest Net adds within FTTH market in 2021.
• The company has posted operating profit of Rs 4.2 billion, which is higher by 21% compared to 2020.
• Net profit of Rs 6.9 billion is higher by 14% as compared to last year.
The company is continuously upgrading its existing infrastructure and network, besides expanding FTTH across the country to offer seamless connectivity for greater customer experience. Prompt deployment of FTTH and strong performance in Corporate and Wholesale segments are the cornerstone in PTCL’s topline growth, which along with focus on cost optimization program, has significantly increased the company’s profitability.
