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The MES TimesIn 2023, PTCL Group reported a revenue growth of 25.8% to Rs190.6 billion, driven by strong performance in consumer segments like fixed broadband and mobile data. However, the company faced a higher net loss of Rs14.2 billion, attributed to factors like rupee devaluation and high interest rates. The acquisition of Telenor Pakistan was a significant highlight. Despite a revenue increase, Pakistan Telecommunication Company, a part of PTCL Group, reported a net loss of Rs9.4 billion, its highest since 2013.
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Telenor Group concludes its strategic review by selling Telenor Pakistan to Pakistan Telecommunications Company Ltd (PTCL), a part of the e& technology and investment group. PTCL's key asset, Ufone, serves 25 million mobile customers.