Pakistan Telecommunication Company Limited (PTCL) has reported a net loss of Rs14.39 billion in 2024, according to its latest consolidated financial results shared with the Pakistan Stock Exchange (PSX).
While the telecom giant managed to reduce its losses from Rs16.73 billion in 2023, financial challenges continue to weigh heavily on its performance.
Despite the losses, PTCL’s revenue surged by 16% YoY, reaching Rs219.78 billion in 2024 compared to Rs188.67 billion in 2023.
Financial Figures
Revenue: Rs219.78 billion (+16% YoY)
Cost of Revenue: Rs162.38 billion (+11% YoY)
Gross Profit: Rs57.4 billion (+34% YoY)
Operating Expenses: Rs51.3 billion (+27% YoY)
Operating Profit: Rs6.12 billion (vs. Rs2.3 billion in 2023)
Other Income: Rs25.6 billion (-16% YoY)
Finance Costs: Rs52.6 billion (increased significantly)
Loss Before Tax: Rs20.9 billion (vs. Rs22.9 billion in 2023)
Loss Per Share (LPS): Rs2.82 (vs. Rs3.28 in 2023)
Despite higher revenue and an improved profit margin of 26.1% in 2024 (up from 22.7% in 2023), rising finance costs and operating expenses continue to impact PTCL’s bottom line.
Why Is PTCL Still Posting Losses?
Soaring Finance Costs: Increased to Rs52.6 billion in 2024.
Higher Operating Expenses: Jumped by 27% YoY, reaching Rs51.3 billion.
Decline in Other Income: Dropped 16% to Rs25.6 billion.
During Q3 2024 (July-September), PTCL sustained Rs6.3 billion in losses, reflecting ongoing financial strain.
Founded in 1995, PTCL is a leading telecommunication service provider in Pakistan, offering fixed-line, broadband, and digital communication services.
Despite its strong market presence, increasing competition, operational costs, and financial liabilities continue to pose challenges.
To turn around its financial situation, PTCL may need to:
Optimize cost-cutting strategies to control expenses.
Explore debt restructuring to reduce financial burdens.
Invest in digital transformation & new technologies to drive growth.
