Friday, October 7, 2022

PTCL group cements its market standing: increase of 7% revenue


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

The country’s leading telecom and ICT services provider, Pakistan Telecommunication Company Limited (PTCL), posted a significant 7.3%growth in its revenues, owing to a robust commercial strategy that cements its market standing.

The company has announced its financial results for the nine months period ended on September 30, 2021, at its Board of Directors’ meeting on October 18, 2021.

PTCL Group posted a revenue of Rs 102.4Billion in the first nine months of 2021 that is 7% higher as compared to the same period of last year.

U Bank continued its growth momentum and has achieved a 23% growth in revenue. PTML (Ufone) also posted revenue growth of 4.6% despite stiff competition in the market. PTCL Group delivered robust financial and operational performance and posted a net profit of Rs 3.7Billion as compared to Rs 1.6 Billion for the same period of last year.

PTCL’s revenue of Rs 57.3 Billion for the nine months period is 7.3% higher than the same period last year, mainly driven by Broadband and Corporate & Wholesale business segments.

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