PTCL Chief Warns of Potential Setback in Telenor Pakistan Acquisition

ISLAMABAD: Hatem Bamatraf, President and Group CEO of Pakistan Telecommunication Company Limited (PTCL), has cautioned that any further delays by the Competition Commission of Pakistan (CCP) in rendering a verdict regarding the acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers could jeopardize the agreement between the involved entities, particularly with the deadline rapidly approaching.

This statement came during the announcement of the PTCL Group’s financial outcomes for the first quarter (Q1) of 2025, which concluded on March 31, 2025. The group reported impressive double-digit revenue growth of 22 percent.

The Group CEO stated, “We have furnished all necessary documents and data to the CCP; however, the prolonged delay in announcing a decision on the acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers is unprecedented,” urging the commission to expedite the decision-making process to eliminate uncertainty and facilitate progress.

According to the acquisition agreement, the transactions were initially slated for completion in December 2024. Due to the aforementioned delays, a revised deadline was set for the end of June 2025. The Group CEO emphasized that additional delays in the CCP’s decision could potentially undermine the agreement. Group CEO and Chief Financial Officer (CFO) Nadeem Khan briefed the media, asserting that the group’s strong performance reinforces its standing as Pakistan’s premier integrated telecom service provider.

PTCL Group’s revenue saw a substantial increase of 22 percent year-on-year (YoY), reaching Rs61.8 billion. This growth was propelled by significant gains in consumer segments, notably fixed broadband and mobile data, along with substantial contributions from enterprise and carrier wholesale services.

Officials noted that PTCL sustained its growth trajectory, reporting a 14 percent YoY revenue increase to Rs29.6 billion. This was primarily fueled by a 70 percent revenue surge in Flash Fiber and a 23 percent revenue increase in Business Solutions compared to the corresponding quarter last year.

PTCL’s Enterprise Business demonstrated remarkable expansion with a 23 percent growth compared to the same period last year, while the Carrier and Wholesale business sustained its growth momentum, achieving an overall revenue growth of 24 percent. The international segment experienced an eight percent revenue increase compared to the same period last year.

PTCL declared an operating profit of Rs4.1 billion, marking a 40 percent increase compared to the same quarter in 2024. Net profit reached Rs1.2 billion in Q1 2025. PTML (Ufone 4G) witnessed a revenue growth of 21 percent compared to Q1 2024. PTML reported an 11 percent rise in operating profit during the quarter compared to the last quarter of 2024, attributable to enhanced customer experience and increased digital engagement through diverse data-centric products and strategic alliances.

U Microfinance Bank (UBank) reported a significant 77 percent YoY increase in revenue.

It was further elaborated that the PTCL Group is spearheading the realization of the “Digital Pakistan” vision. PTCL and Ufone 4G are providing essential infrastructure and connectivity to kick-start this initiative. The PTCL Group is at the forefront of delivering innovative services and solutions through a comprehensive array of offerings. PTCL’s extensive FTTH expansion has fueled its remarkable topline growth. Building on the momentum from last year, PTCL prioritized delivering the fastest and most reliable internet services via its flagship “Flash Fiber,” which remains the leading FTTH service in Pakistan. In Q1 2025, Flash Fiber proudly surpassed 700,000 customers nationwide, resulting in a YoY revenue growth of 70 percent.

During Q1 2025, PTCL remained at the forefront of digital transformation by introducing Pakistan’s first WhatsApp-based bill payment solution, providing customers with unmatched convenience, security, and accessibility in managing their monthly PTCL bills. This initiative represents a significant step toward advancing “Digital Pakistan.”

The business services segment reinforced its market dominance and maintained its leading position in IP Bandwidth, Cloud, Data Center, and other ICT services segments.

Ufone’s impressive 4G expansion underscores its unwavering commitment to customer satisfaction and digital innovation. Ufone 4G continued to enrich customer experiences with pioneering products and offers in Q1 2025, including:

  • Ufone 4G’s “Super 5” package, a comprehensive connectivity solution designed for groups of up to five individuals, enabling seamless resource sharing for uninterrupted communication and internet access for families, friends, or small teams.
  • PTML’s digital brand is redefining the traditional telecom experience with key achievements including 183 per cent growth in subscribers.

During Q1 2025, the PTCL Group continued its dedication to community service through various initiatives aimed at improving lives and transforming society through its social impact platform, “Dil Se,” designed to promote digital inclusion, compassion, and innovation.

In this quarter, under the flagship Social Impact initiative, Dil Se “Ba-Ikhtiar,” the talented entrepreneurs enrolled in the programme designed Peshawar Zalmi’s kit. More than just a jersey, it stands as a symbol of strength, resilience, and empowerment. The road ahead will include expansion in more than 20 districts and facilitate startup registrations with seed funding to scale their businesses.

The PTCL Group partnered with Pink Collar to facilitate Pakistan’s inaugural Women Career Summit in Lahore.

The summit drew 30 leading corporates conducting recruitment drives. The summit also provided Ba-Ikhtiar beneficiaries a valuable platform to connect with industry leaders and inspire fellow entrepreneurs.