Jazz posted its quarterly revenue of Rs. 57.27 billion for the period ending September 30th, 2021, up from Rs. 50.67 billion it posted during the same period last year.

Total revenue grew by 13% YoY in 3Q21, mainly thanks to 25.5% YoY growth in mobile data revenue. Additionally, the increase in subscription base also contributed towards the growth.

Jazz said that its customers grew 11.2% YoY to 71.4 million, and ARPU (Average Revenue Per User) increased by 1.5% YoY.

Jazz also managed to stretch its 4G services by 47% during the period which resulted in 11.6 million new 4G users (+52.4% YoY) when compared to the same period last year to take the total subscription base of 4G users to 33.8 million at the end of September 2021.

EBITDA growth stood at 24.6% as it declined by 9.7% YoY due to the one-off impact of the reversal of a provision (PKR 8.6 billion) in 3Q20.

EBITDA was further impacted by the change in accounting for the service charge related to the ex-Warid license renewal “now recorded as amortization below EBITDA” (c.PKR 760 million) and ongoing investment into Mobilink Bank and JazzCash continued.

Capex excluding licenses and leases (operational capex) was PKR 9.5 billion in 3Q21, corresponding to capex intensity of 22.6%.

Jazz said that it added approximately 1,500 additional 4G sites during the last twelve months, driving a 9% growth in Jazz’s 4G population coverage to 65% at the end of 3Q21.

Below are the financial highlights for Jazz:

Jazz Posts Double-Digit Growth During Q3, 2021