Telenor Pakistan reported a revenue drop of 1% as revenues reached Rs. 25.3 billion during Q3 2020, down from Rs. 25.51 billion during the same period last year.
Telenor said that revenues decreased mainly due to COVID-19 impact, however, an early indication of recovery has already been seen. Company’s subscription and traffic revenues decreased by 1%.
Telenor said that its ARPU reached Rs. 178 per user per month, which is higher than Q2 2020 (when it was Rs. 170 per user per month), but lower than Q3 2019 (when ARPU stood at Rs. 184 per user per month).
In its quarterly report, the Norwegian company stated that its subscriber base grew 1.1 million during the reported quarter, as the total number of subscriptions reached 46.2 million at the end of third quarter 2020.
Operating expenditure remained stable as positive effects from modernization initiatives and lower marketing spend were offset by increased operations and maintenance costs and higher energy prices.
EBITDA increased by 4%, also a result of improved gross profit due to lower handset sales.
Telenor said that the renewal of its GSM license, which expired on 25 May 2019, is still not concluded. A hearing took place in September, and the next hearing is scheduled during late October 2020.
Below are the financial highlights:
