PTCL’s Profits Skyrocket to 188% Growth in 3 Months
Pakistan Telecommunication Company Limited (PTCL), the premier provider of telecom and ICT services in the country, has revealed its financial results for the three months that ended on March 31, 2023. During a Board of Directors meeting in Islamabad on April 17, 2023, the declaration was made.
On a stand-alone basis, PTCL has seen a notable growth in its profits over the course of the time of 188 percent. According to a notice to the Pakistan Stock Exchange (PSX), the firm reported a profit of Rs. 5.47 billion in the first quarter of 2023 as contrasted to Rs. 1.90 billion in 2022.
Despite the extremely challenging macroeconomic situation, the Group saw a growth in revenue of 23.2% over the same period in 2017.The success of the fixed broadband, mobile data, business solutions, and banking services industries is largely responsible for this substantial growth in income.
The macroeconomic problems that emerged in 2022 continued to have a detrimental effect on businesses in 2023 as well. Due to the continual rises in energy and fuel prices, telecom companies are finding it difficult to supply their consumers with high-quality services at a fair price.
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