The PTCL Group announced on Wednesday that it had posted a significant loss of over Rs14.39 billion for the year ending December 31, 2024, despite a 17% increase in revenue to Rs219.78 billion. The primary reason for the losses was attributed to Ufone’s financial burden.
The telecom conglomerate—which includes PTCL, Ufone, and Ubank—managed to trim its losses by 13.94% compared to 2023, when the group posted Rs16.72 billion in losses. The loss per share (LPS) stood at Rs2.82, down from Rs3.28 in 2023.
A senior company official revealed that finance costs, including debt repayments and interest on loans for Ufone’s licensing and operational expenses, played a crucial role in the group’s financial strain.
Performance Breakdown
- Ufone reported an impressive 25% revenue growth in 2024, with earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs4.6 billion.
- PTCL’s revenue grew 12% to Rs107.76 billion, driven by growth in fixed-line services, wholesale, and business solutions. However, its net profit plunged 48.66%, falling from Rs9.39 billion in 2023 to Rs4.82 billion in 2024.
Despite the financial challenges, the PTCL Group remains focused on expanding its business operations and overcoming financial hurdles to improve profitability in the future.
