Hatem Bamatraf, president and chief executive of PTCL Group, stated on Monday that Ufone was not interested in taking part in the future spectrum auction but urged that the government not relax the requirements.
The terms and conditions for the upcoming spectrum auction should be the same as they were for the last auction, Mr. Bamatraf remarked while speaking during the release of the second quarter financial results following the PTCL group board meeting.
In addition, despite the company having greater revenues in the first half of 2022, he expressed concern over the high gasoline prices that contributed to the company’s accounts going into the “red.”
He emphasised that, in comparison to the same period the previous year, the revenues of the entire PTCL group increased by 5.7% in 6MCY22.
On Monday, Pakistan Telecommunication Company Ltd. informed investors that it had incurred a net loss of more than Rs3 billion from January through June on a consolidated basis, as opposed to a profit of Rs2.9 billion during the same six-month period in 2021.
The company had a net loss of Rs1.5 billion over the past three months as opposed to a profit of Rs1.3 billion in the same period last year. However, the telecom company’s unconsolidated reports revealed its profit was Rs5.2 billion in the first half of 2022, up 38.7% on an annual basis. Similar to this, the unconsolidated profit for April through June totaled Rs3.2 billion, an increase of 63.2 percent on an annual basis.
According to Mr. Khan, PTCL experienced stronger revenue growth as a result of rising service fees, but due to a considerable increase in fuel prices, the company experienced an operating loss of 33%, or Rs1.89 billion, from January to June 2022.
The wireline data service generated Rs17.01 billion in revenue for PTCL Group in the second quarter, an increase of 11%, according to PTCL Group Chief Financial Officer Nadeem Khan.
Source: Dawn News
