Islamabad                  -                Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the quarter ended March 31, 2020 at its Board of Directors’ meeting held in Islamabad on April9, 2020.

PTCL Group’s revenue of Rs31.8Billion in Q12020 is lower by 5% as compared to the same period of last year. When normalised for the impact of certain regulatory changes, the revenue is 3% higher than Q1 2019 on a like-for-like basis. UBank, a microfinance banking subsidiary of PTCL continued its growth momentum and has achieved a 44% growth in its quarterly revenue overlast year. The Group’s operating profit and bottom linehave deteriorated over last yeardue to rupee devaluation, increase in interest rates,higher power tariffs and the effects of COVID-19 pandemic.

PTCL revenue of Rs17.7 Billion for the quarter is 1% lower than last year but on a like-for-like basis the revenue is stable and at par with Q1 2019.

Corporate and Wholesale businesses continued their growth momentum and have achieved an 8% overall revenue growth YoY. This has been possible through PTCL’s leading market position in IP Bandwidth and its strong presence in Managed Services, Cloud and other ICT services segment. Similarly, international revenue has also shown 5% growth as compared to same period last year.