Lahore - PTCL announced the financial results for the nine months’ period ended September 30, 2017 in its Board of Directors’ meeting held on Wednesday.

PTCL earned Rs52.8 billion revenue during first nine months of 2017. PTCL’s flagship Fixed Broadband service has started to grow at an accelerated rate, posting a revenue growth of 6 percent during Q3 over same quarter of last year compared to 4 percent growth for the first nine months versus same period last year. The same applies to Charji/LTE revenues, which grew 20 percent during Q3 and 7 percent during first nine months respectively compared to same periods last year.

Likewise, corporate and international revenues have also increased by 7 percent and 11 percent, respectively, on YoY basis. PTCL overall revenue of nine months is down by 3 percent over same period last year due to continued decrease in Voice and EVO revenues, which could not be offset by growth in other segments.

PTCL posted an after tax profit of Rs6.5 billion, which after being adjusted for one-offs, reduced by 7 percent over same period last year, mainly due to revenue decline and lower financial income. PTCL’s 100 percent subsidiary UBank has started contributing positively to the bottom-line of the group. The group’s net profit increased by 37 percent over corresponding period of last year mainly due to successful settlement of certain legal issues during the period and improved bottom line of Ufone.

Continuing with its transformation journey, PTCL has successfully upgraded further exchanges in the last quarter, bringing more customers into the ambit of high-end data services so they can enjoy high speed reliable Internet.