PTCL incurs Rs14.4b consolidated loss

Pakistan Telecommunication Company Limited (PTCL) has continued to face massive losses that amounted to Rs14.39 billion on a consolidated basis for the year ended December 31, 2024. In comparison, the company had incurred a loss of Rs16.73 billion in 2023. According to a public notice issued to Pakistan Stock Exchange (PSX) on Wednesday, the PTCL group sustained a loss per share of Rs2.82, which was lower than the loss per share of Rs3.28 in 2023. PTCL registered a pre-tax loss of Rs20.9 billion in 2024 compared to Rs22.9 billion in 2023. During the year under review, operating expenses stood at Rs51.3 billion, higher by 27% compared to Rs40.5 billion in 2023. Despite that, the telecom company recorded an operating profit of Rs6.12 billion, significantly higher from Rs2.27 billion in 2023. Meanwhile, in a statement, the PTCL group claimed that it had achieved an impressive double-digit revenue growth of 17% during financial year 2024.