Jazz invested over PKR 37 billion during the first nine months of 2025 to expand network capacity, enhance digital platforms, and strengthen service resilience, supporting broad-based revenue growth across telecom, fintech, and digital services. This investment reflects the company’s ongoing transition into a ServiceCo, an integrated digital services provider aimed at delivering a comprehensive digital experience to users across Pakistan. Overall revenue in the third quarter of 2025 grew 14.6% year-on-year in local currency, led by solid telecom performance and momentum in digital services. Core telecom revenue increased 9.8% year-on-year, supported by an expanding customer base and higher engagement with data products. Average revenue per user rose 12.3%, reflecting improved pricing and increased digital usage.
EBITDA for 3Q25 rose 27% year-on-year, with margins improving to approximately 46% due to operational efficiencies and more stable energy costs. The 4G customer base surpassed 55 million, an 11.4% increase compared to the previous year, with 4G penetration reaching 75.7%. Multiplay users, engaging across connectivity, fintech, and digital content, grew 28.6%, now representing nearly 38% of the base. These figures indicate that customers are increasingly adopting bundled digital services, contributing to the company’s overall growth and reinforcing its position in Pakistan’s digital ecosystem.
Digital services remained the main driver of growth, with direct digital revenue rising 28.5% year-on-year. JazzCash led this segment with 32.8% revenue growth, complemented by Mobilink Bank’s 34% increase, driven by deeper digital adoption and increased lending activity. JazzCash currently serves 20.6 million monthly active users and recorded a 57.8% year-on-year increase in Gross Transaction Value, reaching PKR 3.9 trillion. With a merchant base of over 700,000, JazzCash processes more than 80% of Raast payment value under the Prime Minister’s Cashless Society initiative, supporting over 150,000 daily loans and achieving a record single-day disbursement of PKR 1.1 billion through 200,000 loans.
Entertainment and lifestyle platforms also contributed to growth, with Tamasha reaching a record 31.8 million monthly active users, boosted by the Asia Cup, the launch of Tamasha Pro, and new content including a major TV network and Pakistan’s first AI-powered news channel. SIMOSA, Jazz’s self-care and lifestyle app, recorded 21.8 million monthly users, with its AI assistant now operating as an agentic system handling bundle activations and complaints, serving one million monthly users. Commenting on the results, Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Bank, highlighted the company’s focus on infrastructure, innovation, and platforms that enable access and opportunity, emphasizing Jazz’s evolution into a ServiceCo designed to empower individuals and support Pakistan’s digital economy. Jazz today serves over 100 million users across fintech, entertainment, digital self-care, InsurTech, cloud, cybersecurity, and gaming, reflecting its strategy to integrate connectivity with digital services for broader social and economic impact.
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