Telenor Pakistan Profits Grow 10.7% in Q3 2022 - Press Release issued by Telenor Pakistan.

Islamabad -- October 28, 2022 (PPI-OT)

Following is the text of press release issued by Telenor Pakistan

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Telenor Pakistan, the country's second-largest mobile operator, reported solid performance for the quarter that ended on September 30, 2022. According to Telenor Group's financial results, Telenor Pakistan reported a total of NOK 1.32 billion (~Rs. 29.53 billion) in revenues during the quarter, up by 10.7 percent in terms of PKR as compared to the same period last year.

Telenor Pakistan's service revenues were strong despite the flooding situation. For the operator, high energy prices in Pakistan continue to be a headwind. With regard to the outlook for the year, Telenor maintains the expectation of low single-digit growth in service revenues. Telenor Group's mobile subscription base in Pakistan was impacted by flooding and network outages.

Pertinently, the total revenue is actually down in Norwegian currency rates at NOK 1.32 billion which is a decrease of NOK 105 million compared to NOK 1.42 billion in the same period last year when the PKR was trading well below 180 against the US Dollar. Total service revenue decreased from NOK 1.187 billion (Rs. 24.9 billion) to NOK 1.095 billion (Rs. 22.97 billion).

Reported operating expenses (Opex) increased by NOK 0.4 billion (Rs. 8.39 billion). Organic operating expenses increased by NOK 0.5 billion (Rs. 10.5 billion). Reported EBITDA before other items was NOK 13.1 billion which is an increase of 1.6 percent. Organic EBITDA increased by 2.5 percent.

Average Revenue Per User during the quarter remained unchanged - when compared to the same period last year - at NOK 9 per user per...