Jazz has posted PKR 50.59 billion in revenues during Q1 2019, with an impressive YoY growth of 23.6% as compared to the same period last year.
Jazz said that this massive growth mainly came through business performance and due to suspension of telecom taxes during the reported time period.
Business performance, the company says, contributed 10.9% to the revenue growth while 12.7 percent growth was triggered by the suspension of mobile phone taxes during the time period.
Jazz, in its quarterly financial report, said that its data revenue almost doubled to PKR 13.56 billion during the quarter, up from PKR 7 billion during the same period last year.
The increase in data revenue was driven by a higher number of data users, that grew 14.4% YoY, and doubling of data usage (by existing customers) through higher bundle penetration and continued data network expansion.
Jazz said that an average customer consumed 1,669 MB of mobile data per month, which is more than double from last year during the same period.
Voice and telephony service revenues also increased by 24% YoY for the reported duration.
Company’s ARPU (average revenue per user) stood at PKR 272, which is 17,4% higher than PKR 232 from the same quarter last year.
EBITDA pre-IFRS 16 grew year on year by 22.3%, driven by revenue growth, resulting in an EBITDA margin of 47.0%.
Excluding tax-related factors EBITDA year on year growth pre-IFRS 16 would have been 9.8%. From Q1 2019, EBITDA also absorbs the negative accounting impact of minimum tax on revenue (~PKR 0.6 billion in Q1), booked above EBITDA, which diluted EBITDA margin by 1.3 percentage points. Reported EBITDA in Q1 2019 increased by 31.7% year on year to PKR 25.6 billion.
In Q1 2019, capex excluding licenses pre-IFRS16 slightly decreased to PKR 7.1 billion. Reported capex excluding licenses slightly decreased year on year to PKR 7.2 billion.
Jazz said that its 3G services were offered in more than 368 cities while 4G/LTE was offered in 184 cities (defined as cities with at least three base stations) at the end of Q1 2019.
At the end of Q1 2019, population coverage of Jazz’s 3G and 4G/LTE networks was 52% and 39% respectively.