Inflation and Floods Hit Growth Numbers for Telenor Pakistan

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Inflation and Floods Hit Growth Numbers for Telenor Pakistan

Today, Telenor Pakistan reported its Q4 2022 quarterly revenue of Rs. 27,25 billion, an increase of just 1.2% over the Rs. 26,78 billion it had reported for the same period in the previous year.

The company stated that the poor recovery from the third-quarter flooding and high inflation both had an impact on revenue growth.

Due to the depreciation of the Pakistani rupee, service revenues in Norwegian Kroner fell by 5%. While operational costs (OPEX) rose by 28% in NOK, primarily as a result of higher energy costs and expenses for addressing network damage brought on by the flooding. To NOK 520 million, EBITDA dropped by 17%.

In the quarter, the subscriber base decreased by 793,000. The subscriber base was 48 million at the conclusion of the quarter, which is 2% fewer than it was during the same time the previous year.

According to the Telenor Group’s earnings reports, several unfavorable developments led to the impairment of assets associated with Telenor Pakistan reaching NOK 2.5 billion, or USD 250 million.

The Weighted Average Cost of Capital was impacted, according to the group, by considerable rises in interest rates, country risk premiums, and market premiums.

The highlights of Telenor Pakistan’s earnings in NOK are listed below:

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