Jazz post PKR55 billion revenue in March-2021 Quarter

May 4, 2021

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Pakistan’s leading Telecom Company, ‘Jazz’ or Pakistan Mobile Communications Limited posted a 12 percent increase in its Revenues which reached PKR 55 billion in the First Quarter ending March, 2021. The revenue remained highest ever quarterly numbers ever posted by Jazz.

To recall, Jazz posted full year revenue of PKR200 billion in 2020. If current growth trend continues, the revenue for 2021 is expected to easily surpass PKR200bn mark.

Operational details of first quarter highlights that Average Revenue per User (ARPU) remained stagnant. During 1QCY2021, ARPU was recorded at PKR246 per month, almost same as last year.

The management discussion has justified lower ARPU as “overall softness in revenues due to the impact of Covid-19”.

Breakup of revenue shows that Data services posted a 28% increase and reached PKR20 billion in the quarter, as Jazz improved its 4G network coverage . The 4G user based stood at 29 million as of March 2021, significantly higher by 62 percent compared to 18 million users as of March 2020. While Data usage surged by 50 percent year-on-year to 4.5 GBs per user in 1QCY21.

Total Earnings Before Interest, Tax (EBITDA) stood at strong figure of PKR25 billion, marking an 8%YoY increase.

Jazz capital spending during the first quarter remained high as comapny incurred capital expenditure of PKR15 billion in the quarter reflecting 38 percent yearly growth and 15 percent quarterly growth.

As highlighted by the management, Jazz continued investments which helped 4G network’s population coverage to reach 61 percent as of March 2021, compared to 54 percent as of March 2020.