Islamabad February 26 2023: Ufone, a subsidiary of PTCL, reported increase in loss of PKR 13.4 billion to PKR 12.3 billion in 2022 compared with the last year due to acquisition of 4G spectrum and related network rollout amid devaluation of the Pak Rupee against USD.
In the year 2022, Ufone has recorded positive Net Adds with 3.9% YoY growth in subscriber base and has gained market share within the industry.
Since the acquisition of spectrum, Ufone has grown from strength to strength registering 7.1% YoY revenue growth in 2022 despite the challenges of increase in Advance Income Tax (AIT) and reduction in Mobile Termination Rates (MTR) and recent floods in the country.
This growth has been achieved through investment in network, aggressive product offering focusing on data and regional play.
“Ufone invested PKR 3 billion for network expansion and upgradation which started yielding results in terms growth in 4G subscriber base and revenue. Network rollout and modernization has been moving at a good pace with 1,330 new sites deployed in 2022”
says Nadeem Khan PTCL Chief Financial Officer
Year 2022 was marked with a prime focus on data portfolio enrichment. An array of new offerings was launched targeting data-savvy younger segment resulting in more than 40% growth in data revenue.
Owing to its infrastructure modernization and fast deployment of 4G services across the country, the company has set a higher bar in voice and data service quality. Pakistan Telecommunication Authority (PTA), in its nationwide service quality benchmarking during 2022, declared Ufone the No. 01 voice and data network.
