July 19, 2022 (MLN): DespitePakistan's volatile macroeconomic situation and its exchange rate fluctuations during FY22, Telenor Pakistan reported revenue of Rs26.7 billion in 2Q of FY22, up by Rs104 million from Q2 last year.
The company reported YoY growth of 1.8% in subscription and traffic revenues (S&T), 1.7% in service revenues, and 0.4% in total revenues.
The EBITDA witnessed a negative growth of 14.9%, while the EBITDA margin jumped by 47.3% for Q2 2022. During the quarter 289,000 subscriptions, were added to the network with the subscriber base now standing at 49.5 million.
The EBITDA development was majorly attributable to significant hikes in fuel and electricity prices coupled with a YoY reduction in mobile termination rates. The rising inflation in the country (June: 21.3%), significant rupee devaluation and the prevailing economic situation also had an impact on the performance.
Commenting on the latest financial results, Irfan Wahab Khan, Chief Executive Officer, Telenor Pakistan said, “The last quarter has been challenging for the country, particularly for the telco sector that impacts all segments of society and also relies heavily on its economic environment. However, despite these disruptions, we embraced our responsibility of providing access to opportunities. Our commitment to serve Pakistanis and increase our subscriber base in these testing times is reflective of the strong bond that Telenor Pakistan enjoys with the people and how they value it as a reliable partner.”
