Telenor Pakistan Posts Revenue Positive Q2 2018

Telenor Pakistan today reported revenue of Rs. 28.066 billion for the second quarter of ongoing fiscal year ending June 30th, 2018, up from Rs. 26.11 billion during the same period last year. 

Telenor Pakistan said that it saw a recovery in the revenue after a slowdown during the beginning of the year.

Subscription and traffic revenues increased by 4%, driven by subscription growth as ARPU remained flat at Rs. 206 per user per month.

“We are pleased to have announced our latest financial results today that show our consistent year-on-year growth despite challenges and stiff competition,” said Irfan Wahab Khan, CEO at Telenor Pakistan.

“We extend our heartfelt gratitude to our customers who we owe all our success to. From launching the industry-first Customer Integration Lab at Telenor Pakistan HQ, 345, to launching Easy Bazaar, a retailer assisted online shopping using BVS devices, to hosting multiple hackathons for Pakistani youth to tackle social challenges; Telenor Pakistan is providing products & services that make our customers’ journey better and this has remained an integral part of our spirit. Telenor Pakistan continues to have a long-term investment commitment in Pakistan and with the support of our people, we are determined to make even larger contributions to Pakistan’s socioeconomic development.”

The company, in its financial report, said that its number of subscribers increased by 0.6 million in April-June 2018, taking the total base to 43.2 million, which is 6% higher than at the end of second quarter last year.

Telenor said 250,000 customers are postpaid while remaining 42.99 million subscriptions are prepaid.

Total revenues increased by 8% as increased handset sales and higher international interconnect revenues contributed positively.

Opex remained flat as efficiency initiatives are providing good results. EBITDA improved by 11%, and the EBITDA margin was 50%.

Capex remained low during the quarter, awaiting the clarifications towards ZTE. Priority was given to expanding the 4G footprint, which is now covering 44% of the population.

More details in below financial highlights (currency is in Norwegian Kroner)

Due to exchange rate fluctuation, the YoY revenue growth, measured in NOK and actual revenue generation in PKR differ slightly. For comparison please refer to below information.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK