Islamabad February 13 2025: Pakistan Telecommunication Company Limited (PTCL), one of the leading telecom and ICT services provider in the country, has announced its financial results for the financial year 2024 ending December 31, 2024. The announcement was made during a Board of Directors meeting held in Islamabad.
PTCL Group achieved impressive double-digit revenue growth of 17% during the financial year 2024. The Group’s robust performance solidifies its position as Pakistan’s top integrated telecom service provider.
PTCL Group posted revenue of Rs 219.7 billion, driven by robust growth in consumer segments including fixed broadband & mobile data and wholesale & business solutions.
PTCL posted 12% YoY revenue growth, maintaining its upward trajectory.
Ufone (PTML) reported a 25% YoY revenue growth.
The continuous strong topline growth and cost optimization measures over last few years has helped Ufone get back into positive operating profit with a strong EBIT of Rs 4.6 billion.
U Microfinance Bank (U Bank) has been honored as the Best Microfinance Bank for Islamic Retail Banking Offerings in Pakistan 2024 at the 10th Islamic Retail Banking Awards (IRBA) hosted by Cambridge IFA.
The signing of SPA for acquisition of 100% shares of Telenor Pakistan by PTCL was announced in December 2023. The closing of the transaction is subject to regulatory approvals as well as customary terms and conditions and is expected to take place during the first half of 2025.
PTCL Achieves Stellar Performance in 2024:
PTCL’s revenue soared to Rs 107.7 billion, marking a 12% increase from 2023, fueled by robust growth in fixed-line, wholesale, and business solutions.
Flash Fiber, PTCL’s premium FTTH service, dominated the market in 2024, capturing the significant share of the industry net adds.
The company reported an operating profit of Rs 12.2 billion, reflecting a 55% growth over last year, and a net profit of Rs 4.8 billion for 2024.
PTCL’s aggressive FTTH expansion has fueled its remarkable topline growth. Building on last year’s momentum, PTCL prioritized delivering the fastest and most reliable internet services through its flagship FTTH brand “Flash Fiber”. This customer-centric approach has cemented PTCL’s position as a market leader, capturing the majority share of net additions (captured ~50% of industry net adds) in the FTTH segment. The fixed broadband business achieved 20% YoY growth, while Flash Fiber posted an unprecedented YoY growth of 104%. With over 650K FTTH subscribers, PTCL’s ongoing FTTH expansion continues to yield outstanding results, solidifying its industry leadership.
During the year, the Group introduced innovative differentiated services, including:
- SHOQ TV Box: Powered by Android TV by Google, transforming the TV viewing experience. This innovative offering is set to elevate news and entertainment options, redefining the future of television.
- Flash Eye: A smart solution featuring HD IP cameras exclusively for Flash Fiber customers.
- WhatsApp Bot: A convenient self-service platform for customers to register complaints, access billing details, manage Speed Bolt-On subscriptions, obtain tax certificates, and get product information.
PTCL Group Business Solutions Highlights:
In 2024, PTCL Group solidified its role as Pakistan’s leading digital enabler by significantly expanding its state-of-the-art Data Centers and Public Cloud platforms covering IaaS, PaaS, and SaaS. The company enhanced its enterprise offerings and delivered secure, scalable, and efficient Multi Cloud solutions through its strong nationwide infrastructure to a diverse range of clients, including Government, Public and Private Institutions as well as major Banks, startups, and system integrators. PTCL’s commitment to innovation was evident in its next-generation Data Centers and Cloud Platforms, which ensured seamless connectivity, robust data security, faster processing speeds, and reliable disaster recovery solutions.
PTML – Ufone 4G Highlights:
Ufone 4G posted a YoY growth of 25% in topline during 2024 with remarkable display of resilience and strength across multiple fronts. This growth has been possible due to better customer experience and digital engagement through multiple data-centric products and strategic partnerships with leading digital platforms enhancing digital engagement. Ufone 4G’s impressive growth is a testament to the commitment to customer experience and digital innovation. Ufone has been successful in growing the base at an accelerated pace, surpassing 26 Mn overall base and 17 Mn 4G base mark in 2024.
Ufone 4G is revolutionizing the digital landscape by integrating innovative value-added services (VAS) into its key digital products. By incorporating Golootlo, Waada, Shoq, and UCloud services, Ufone is providing a comprehensive and enriched experience for its customers.
