Telenor Pakistan posted a negative third quarter with its total revenue reaching Rs. 25.5 billion during three months ending September 30th, 2019, down from Rs. 29.97 billion it made during the same period last year.
Company said that challenging macroeconomic situation in the country, including the inflating energy and fuel prices, devaluation in Pakistani rupee and reversal of taxes on the sector were the major reasons behind the dip.
Telenor said that the reversal of SIM tax in the third quarter last year contributed towards decline of 11% subscription and traffic revenues and a 31% decrease in EBITDA.
Company said that increased energy prices, network expansion and the devaluation of the local currency led to 8% higher opex.
Telenor’s subscription and traffic revenues decreased by 15% and EBITDA decreased by 50%.
Average Revenue Per User also dropped to Rs. 184 per user per month during the quarter, down from Rs. 217 per user per month during the same period last year.
Telenor said that its subscriber base increased by 0.5 million, and the subscription base is now at a level which is 3% higher than last year.