ISLAMABAD: PTCL Group posted a net loss of Rs5.6 billion in January-September owing to a massive slide in the value of the rupee against the dollar along with higher energy rates.

The group’s revenue increased eight per cent year-on-year to Rs110.5bn in the nine-month period due to strong performance in the fixed broadband, mobile data, other telecom business solutions and microfinance services.

However, the group’s profitability remained under pressure due to a significant hike in power and fuel tariffs, devaluation, higher interest rates and other costs associated with the acquisition of the 4G spectrum and related network rollout.

Published in Dawn, October 14th, 2022