PTCL CEO Warns of Potential Impact from Delayed CCP Decision on Telenor Acquisition

ISLAMABAD: Hatem Bamatraf, President and Group CEO of Pakistan Telecommunication Company Limited (PTCL), has cautioned that further delays in the Competition Commission of Pakistan’s (CCP) decision regarding the acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers could jeopardize the agreement between the two entities, particularly as the deadline approaches.

He made these remarks while presenting the PTCL group’s financial results for the first quarter (Q1) of 2025, which concluded on March 31, 2025, revealing a substantial revenue surge of 22 percent.

The Group CEO stated, “We have furnished all necessary documentation and information to the CCP. However, the prolonged delay in announcing the verdict on the acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers is unprecedented.” He appealed for a swift resolution to eliminate uncertainty and facilitate progress.

According to the acquisition agreement, the transactions were initially slated for completion in December 2024. However, due to the aforementioned delays, a revised deadline was established for the close of June 2025. The Group CEO cautioned that any further procrastination by the CCP could jeopardize the agreement. Group CEO and Chief Financial Officer (CFO) Nadeem Khan briefed the media, asserting that the group’s strong performance reinforces its stature as Pakistan’s foremost integrated telecom service provider.

PTCL group’s revenue demonstrated significant growth, increasing by 22 percent year-on-year (YoY) to reach Rs61.8 billion. This expansion was fueled by considerable growth in consumer sectors, particularly fixed broadband and mobile data, as well as substantial contributions from enterprise and carrier wholesale services.

Officials further elaborated that PTCL has sustained its positive growth trajectory, reporting a 14 percent YoY increase in revenue to Rs29.6 billion, primarily driven by a 70 percent revenue surge in Flash Fiber and a 23 percent revenue increase in Business Solutions compared to the corresponding quarter of the prior year.

PTCL’s Enterprise Business witnessed a 23 percent expansion compared to the same period last year, while the Carrier and Wholesale business maintained its growth momentum, attaining an overall revenue increase of 24 percent. Revenue from the international segment grew by eight percent compared to the same period last year.

PTCL reported an operating profit of Rs4.1 billion, a 40 percent increase compared to the first quarter of 2024, with net profits reaching Rs1.2 billion in Q1 2025. PTML (Ufone 4G) experienced a revenue surge of 21 percent compared to Q1 2024 and an 11 percent increase in operating profit during the quarter compared to the last quarter of 2024, resulting from enhanced customer experience and increased digital engagement via a range of data-centric offerings and strategic alliances.

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

PTCL Group is spearheading the realization of a “Digital Pakistan” vision by providing essential infrastructure and connectivity. PTCL and Ufone 4G are at the forefront of delivering innovative services and solutions via a wide array of offerings. PTCL’s ambitious FTTH expansion has driven its remarkable topline growth. Building on prior achievements, PTCL prioritized the delivery of the fastest and most dependable internet services through its flagship “Flash Fiber,” which remains the premier FTTH service in Pakistan. In Q1 2025, Flash Fiber exceeded 700,000 customers nationwide, resulting in a YoY revenue growth of 70 percent.

During Q1 2025, PTCL advanced digital transformation by launching Pakistan’s first WhatsApp-based bill payment solution, providing customers with enhanced convenience, security, and accessibility in settling their monthly PTCL bills. This initiative represents a significant advancement towards realizing “Digital Pakistan.”

The business services segment solidified its market dominance and maintained its leadership in IP Bandwidth, Cloud, Data Center, and other ICT services.

Ufone’s impressive 4G expansion demonstrates its commitment to customer satisfaction and digital innovation. Ufone 4G continued to improve customer experiences with pioneering products and offers in Q1’25, including:

  • Ufone 4G’s “Super 5” package, a comprehensive connectivity solution designed for groups of up to five individuals, enables seamless sharing of resources that provide 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 sustained its dedication to community support through various initiatives by improving lives and transforming society via its social impact platform “Dil Se,” which promotes digital inclusion, compassion, and innovation.

In this quarter, under the flagship Social Impact initiative, Dil Se “Ba-Ikhtiar,” talented entrepreneurs enrolled in the program designed Peshawar Zalmi’s kit, symbolizing strength, resilience, and empowerment. Future plans include expansion into over 20 districts and facilitating 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 attracted 30 leading corporations conducting recruitment drives and provided Ba-Ikhtiar beneficiaries with a valuable platform to connect with industry leaders and inspire fellow entrepreneurs.