Business Recorder
ISLAMABAD: The Pakistan Telecommunication Company Limited (PTCL) Group has achieved a net profit of Rs3.1 billion during January-March 2026, and the company announced to formally launch the 5G services from next month. CEO, PTCL and Ufone, Hatem Bamatraf, while announcing the Q1 2026 financial results, said that the revenues of the PTCL group increased by 58 percent during Jan-March 2026 compared to the same period last year. The PTCL Group staged a comeback into profits with Rs. 3.1 billion bottom-line in Q1 2026 Bamatraf acknowledged that the company had been struggling in the past years due to several reasons. Since January 2026, financial results of Telenor Pakistan have been consolidated in PTCL Group, which supported the sustained growth in fixed broadband, enterprise, wholesale, and mobile services. During Q1, the consolidated operating profit surged by 564 percent with the inclusion of Telenor Pakistan, and the PTCL Group achieved a net profit of Rs3.1 billion, marking a turnaround from the net loss of Rs4 billion in Q1 2025. As the telecom sector regulator, the Pakistan Telecommunication Authority (PTA) has formally approved the proposed amalgamation of Pak Telecom Mobile Limited (Ufone) and Telenor Pakistan; the practical merger was in the final stages, awaiting some legal formalities. While the revenue growth of PTCL company grew by 6.5 percent in Q1 2026, with the operating profit of Rs4.6 billion, the net profit stood at Rs0.9 billion for the quarter. Earlier, the PTCL made profits in 2021. Bamatraf said that the company was entering a new phase of sustainable growth, and after the complete merger of Ufone and Telenor Pakistan, the customers will witness a higher level of experience. During the presentation, it was informed that Ufone was set to launch 5G service from the month of May, as a commercial licence has been obtained from the PTA. At the same time, the chief finance officer (CFO) of PTCL Group, Nadeem Khan, said that the impact of the US-led war on Iran will be visible in the second quarter of 2026, starting from April, both in terms of higher interest rates and higher fuel prices. “But the future impact depends upon the ending of the conflict, and the company has plans to mitigate the financial shocks,” Khan said. Another segment of the PTCL Group -the Ubank posted revenue of Rs5.8 billion, and its bottom line improved significantly compared to the prior period, marking a strong recovery in banking operations. During the period, the PTA has formally approved the proposed amalgamation of Pak Telecom Mobile Limited and Telenor Pakistan (Private) Limited. The proposed amalgamation shall be implemented through a scheme of arrangement in accordance with applicable laws. The change of control of Telenor Pakistan was formally completed on December 31, 2025, bringing Telenor Pakistan and its infrastructure under PTCL’s full ownership. Building on this, PTCL progressed integration planning during Q1 2026. This consolidation is set to create a stronger, more efficient telecom platform with enhanced nationwide coverage, improved service quality, and a significantly expanded customer base, positioning PTCL as one of the leading players in Pakistan’s evolving digital and connectivity landscape. Effective 1st January 2026, the financial results of Telenor Pakistan have been consolidated in the PTCL Group. Copyright Business Recorder, 2026
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