PTCL conducts successful 5G Trials

Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has successfully tested 5G trial in a limited environment.

Federal Minister for IT and Telecommunication Syed Amin- ul Haque addressed the 5G Trial Ceremony at PTCL Head Quarters in Islamabad on Thursday.

“PTCL Group is redefining reality with the successful 5G trial in a limited environment, aimed towards transforming the way we live, work and play,” stated the telecom.

Earlier, the telecom, announced its financial results for the year ended December 31, 2020, the company maintained its revenue at Rs. 129 billion, however, if normalized for the impact of Covid-19 and certain regulatory changes, Group revenue is 5.2 percent higher than 2019 on a like-for-like basis.

Ufone performed well despite Covid-19 challenges and was able to successfully cross 10 million data customers by smartly expanding its LTE footprint. Ubank continued its growth momentum and has achieved a 50% growth in its revenue over last year by increasing its customers loan portfolio and deposits. The topline stability coupled with cost optimization initiatives and favorable interest and exchange rate movements, translated into 38% improvement in Group’s net profit for the year.

PTCL standalone revenue for the year is 0.4% higher than last year; the topline witnessed a decline of 0.7% until Q3, however, it picked up in Q4 to 3.7% YoY growth on the back of healthy customer acquisition.