Ufone was not interested in participating in the upcoming spectrum auction, according to Hatem Bamatraf, president and chief executive of PTCL Group, who also encouraged the government not to loosen the conditions.
Speaking during the publication of the second quarter financial results following the PTCL group board meeting, Mr. Bamatraf said that the terms and conditions for the future spectrum auction need to be the same as they were for the last auction.
Additionally, he voiced concern about the high fuel costs that led to the business’s accounts slipping into the “red” despite the company having higher sales in the first half of 2022.
He emphasised that the total income of the PTCL group grew by 5.7% in 6MCY22 as compared to the same time the previous year.
Pakistan Telecommunication Company Ltd. notified investors on Monday that, compared to the same six-month period in 2021, it had experienced 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.
In contrast to a profit of Rs1.3 billion during the same time previous year, the firm saw a net loss of Rs1.5 billion during the last three months. However, the telecom company’s unconsolidated figures showed that its profit for the first half of 2022 was Rs5.2 billion, up 38.7% annually. Similar to this, the unconsolidated profit for the months of April through June came to Rs3.2 billion, up 63.2% annually.
According to Mr. Khan, PTCL had better revenue growth as a consequence of increased service fees; but, the firm suffered an operational loss of 33%, or Rs1.89 billion, from January to June 2022 as a result of a significant increase in fuel costs.
According to PTCL Group Chief Financial Officer Nadeem Khan, the wireline data service increased revenue for PTCL Group by 11% to Rs17.01 billion in the second quarter.