Jazz has reported Rs. 40.94 billion in revenue for first quarter of fiscal year 2018, up six percent from Rs. 38.73 billion during the same period last year.
Jazz said that increase in revenue is mainly due to acceleration of mobile data revenue that grew 34% year on year during the period.
Company grew its data revenue from Rs. 5.23 billion in Q1 2017 to Rs. 7 billion for the quarter ending March 31st, 2018.
Jazz said that data revenue growth is driven by an increase in data customers due to higher bundle penetration and continued data network expansion.
Adjusted EBITDA increased by 13% to US$175 million in the three months ended March 31, 2018 compared to US$154 million in the three months ended March 31, 2017 driven by revenue growth, operating expenses synergies and the phasing-out of merger integration costs.
The increase was partially offset by a devaluation of the local currency.
In local currency, the Adjusted EBITDA increased by 20%.
Company’s CAPEX grew almost 200% YoY to Rs. 7.3 billion, to support 4G/LTE network expansion.
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Jazz said that its ARPU (Average Revenue Per User) stagnated around Rs. 232, however, average MBs used per month per user almost doubled from 464 MBs per user per month to 821 MBs per user month.
As of March 31, 2018, Jazz reported 30.5 million mobile data customers in Pakistan, representing an increase of 16% from 26.3 million mobile data customers as of March 31, 2017.
Company’s overall customer base reached 55.1 million on March 31st, 2018, representing an increase of 5% from 52.5 million customers as of March 31, 2017.
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Most of it is due to the monopolized market and incapable competitors. I bet no one want to pay a penny for this poor quality network. Situation is worst for customers who are forcefully migrated from Warid; with a slight better network quality to this mess of consolidated network.
Jazz experience a major set back last year on its digital agenda on miserable failure of its global product, i.e. VEON in Pakistan, what actually support Jazz to be good in financial numbers is the positive intention from the Russian giant who is willing to invest in Pakistan. This doesn’t looks a sustainable growth though.