PTCL announces financial results.

KARACHI -- Pakistan Telecommunication Company Limited (PTCL), the country's leading telecom and ICT services provider, has announced its financial results for the nine months' period ended September 30, 2019 at its Board of Directors' meeting held in Islamabad on October 16, 2019. PTCL Group's revenue for the nine months has grown year-on-year (YoY) by 4.5% to Rs. 98 billion. Ufone revenue has increased 6% YoY, UBank, a microfinance banking subsidiary of PTCL, has shown significant growth of 50% in its revenue over last year. PTCL Group's operating profit and net profit for the nine months have decreased by 15% and 32% respectively as a result of high inflation, significant devaluation of PKR against USD and higher power tariffs. PTCL revenue of Rs.

53.8...