Telenor Pakistan has announced a 6.1 percent year-on-year growth in revenue for the third quarter of 2023, reaching Rs. 28.22 billion, compared to Rs. 26.59 billion in the same period of 2022. Additionally, Telenor Pakistan’s service revenue increased from Rs. 21.57 billion in Q3 2022 to Rs. 22.48 billion in Q3 2023, marking a 4.2 percent rise.
Telenor’s interim report for the third quarter of 2023 highlighted that Telenor Asia experienced a 6 percent growth in organic service revenues and a 4 percent increase in EBITDA. This growth was attributed to mobile ARPU (Average Revenue Per User) expansion in both Bangladesh and Pakistan, counterbalancing the negative impact of inflation, particularly higher energy prices.
The report emphasized Telenor Pakistan’s commitment to navigating a challenging business and macroeconomic environment by focusing on value customers, maintaining network quality, and prudent cost management.
When adjusted for special effects in the previous year, service revenues grew by 4 percent due to improved data monetization and favorable comparisons to the severe flooding in the same period the previous year. EBITDA increased by 3 percent, driven by higher service revenues and income from incoming international interconnect traffic, which offset the negative effects of rising energy costs, adverse currency fluctuations, and contractual expense increases.
The macroeconomic outlook for Pakistan remains challenging, and Telenor closely monitors and addresses risks at both the local and group levels. Sigve Brekke, President & CEO of Telenor Group, expressed satisfaction with the company’s third-quarter performance, emphasizing a focus on customer excellence, free cash flow generation, and long-term value creation as top priorities.
Furthermore, Telenor is actively exploring strategic solutions for its Pakistan business and anticipates making a decision by the end of the year. Brekke mentioned ongoing discussions with various parties and expressed optimism about reaching a final solution in the near future.
