Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the six months ended June 30, 2020 at its Board of Directors’ meeting held in Islamabad on July 15, 2020.
After the onset of Covid-19 pandemic earlier this year, the country is witnessing a gradual come back to a new ‘normal’ in which the economic activities are carefully being resumed while adhering to due counter measures for containing the effects of the pandemic. With its extensive network footprint, PTCL has successfully played its role as the communication backbone of the country in these testing times. Our dedicated frontline workers, who have been continuously on the ground despite the pandemic and our diligent customer care teams have ensured uninterrupted service delivery for our valued customers.
PTCL Group’s revenue of Rs 62.9 Billion for the half-year is lower by 5% as compared to the same period of last year. If normalized for the impact of Covid-19 and certain regulatory changes affecting Ufone, PTCL Group’s revenue is 2.5% higher than 2019 on a like-for-like basis. U Bank, a microfinance banking subsidiary of PTCL, continued its growth momentum and has achieved a 45% growth in its revenue over last year. The Group’s operating profit and bottom line have been impacted by the Covid-19 pandemic and rupee devaluation.
