Pakistan Telecommunication Company Limited (PTCL), the leading provider of telecommunications and ICT services in the region, announced its financial results for the quarter ended 31 March 2020 at its Board of Directors meeting held in Islamabad on 9 April 2020.
COVID-19 pandemic has produced global shockwaves and their consequences have changed the scenery of any perceptible region of ordina6ry life. In this challenging time, PTCL stands with the government and continues to provide seamless connectivity across Pakistan.
The frontline staff of the company, fitted with all safety equipment, are at the forefront of supporting their clients nationally. Over 1,200 contact center agents with ‘work from home’ facilities have been allowed by the organization to ensure that appropriate social distance is preserved when meeting customers ‘communication needs.
Some customer support centers have also been kept open to ensure continuity of critical services for the customers. Reportedly, sales and customer service teams are continually in contact with corporate customers to fix not just their current demands, but also any potential consumer needs resulting from the COVID-19 pandemic.
PTCL Group’s revenue of Rs 31.8 trillion in Q1 2020 is 5 percent lower than last year’s same era. Once adjusted for the effect of such regulatory changes, revenue on a like-for-like basis is 3 percent higher than Q1 2019.
UBank, a PTCL microfinance banking affiliate, has continued its growth momentum and reported a 44 percent rise in its quarterly revenue over the previous year. Owing to rupee devaluation, higher interest rates, higher power tariffs, and COVID-19 pandemic impacts, the Group’s operating income and bottom line declined over the last year.
PTCL revenue of Rs 17.7 trillion for the quarter is 1 percent lower than last year but the revenue is stable on a like-for-like basis and on a par with Q1 2019. PTCL is focused on improving customer service through various programs in line with its desire to be a customer-centric organization.
This, combined with the improved and updated network infrastructure of PTCL, will allow the Company to be a service provider of choice for its clients.
Corporate and wholesale companies continued to expand and reached an average sales growth rate of 8 percent year-on-year (YoY). This has been possible thanks to PTCL’s leading IP Bandwidth market position and its strong presence in the Managed Services, Cloud and other ICT services field.
Likewise, foreign sales also reported growth of 5 percent compared to last year’s same period. As a result of a renewed market focus on this product, wireless sales for the quarter reported a 3 percent increase in YoY sales.
In addition to increased investment in the acquisition of wireless subscribers, PTCL focuses on streamlining its wireless data offerings to make them competitive with the products sold by cellular operators. Given growth in the segments mentioned above, shrinking in other segments has meant a similarly stable revenue in Q1 2020.
PTCL’s quarterly operating and net income after tax has decreased as compared with last year due to higher operating costs. However, the rise in non-operating income due to the disposal of aging properties and higher investment income due to higher interest rates has helped to reduce the difference with comparable duration at the bottom-line stage.
Since the company’s first name letter stands for Pakistan, PTCL has also proactively supported affected families in Sukkur with Coronavirus through a special package consisting of ration, medicines and protective gear. The Group is doing its part in the current economic crisis by being socially responsible.
In partnership with the International Rescue Committee (IRC) and the Government of Pakistan, PTCL launched the COVID-19 awareness campaign to ensure checked information is accessible on digital PTCL media for general public consumption.
PTCL supports its customers with online platforms such as PTCL app, Touch App, online banking, mobile financial services, etc. for their ease, so that they can make use of PTCL services while maintaining the required social gap.