PTCL records highest Broadband customers in a month in the last 5 years - Press Release issued by Pakistan Telecommunication Company Limited.

Islamabad -- October 14, 2020 (PPI-OT)

Following is the text of press release issued by Pakistan Telecommunication Company Limited (PTCL)

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Pakistan Telecommunication Company Limited (PTCL), the country's leading telecom and ICT services provider, has announced its financial results for the nine months ended September 30, 2020 at its Board of Directors' meeting held in Islamabad on October 14, 2020.

PTCL Group reported revenue of Rs 96 billion for the nine months ended September 2020; when normalized for the impact of Covid-19 and certain regulatory changes affecting Ufone, Group revenue is 4.2% higher than 2019 on a like-for-like basis. UBank continued its growth momentum and has achieved a double digit growth in its revenue over last year. PTCL standalone revenue for the nine months period is 0.7% lower than last year; when normalized for the impact of Covid-19, the like-for-like revenue is 1.2% higher than the same period of last year.

As the post-Covid situation got better and the markets opened up after the lockdowns, PTCL Group performance has shown signs of improvement. Group's Q3, 2020 revenue is higher by 3.4% over the same quarter of last year. The topline growth coupled with cost control initiatives translated into 167% and 356% improvement in Group's operating profit and net profit for the quarter respectively.

During the 3rd Quarter, PTCL wireline segment showed positive trends. PTCL has recorded the highest ever sale in Broadband for any Quarter since Q4 2014. Fiber-to-the-Home (FTTH) continues to grow with consistent growth in subscriber base during the period with a promising outlook. The positive momentum in wireless (CharJi) segment continued with subscriber base increasing by 21% on YoY basis. Retail business recorded 6% growth in revenue between Q3 2020 vs Q2 2020.

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