Pakistan’s largest telecom operator Jazz invested Rs58.7 billion in FY25 to strengthen network capacity, expand digital platforms, and accelerate its evolution into an integrated digital service company under the JazzWorld ecosystem. The investment supports services spanning connectivity, fintech, entertainment, insurance, and digital platforms, aligned with the company’s AI1440 (Augmented Intelligence) strategy aimed at serving more than 100 million customers.
The company reported strong financial performance, with fourth-quarter revenue rising 24.5 percent year-on-year and full-year revenue increasing 18.6 percent, driven by bundled offerings and higher adoption of digital services. Telecom and infrastructure revenue grew 17.7 percent, supported by a 3.3 percent increase in mobile subscribers and a 21.3 percent rise in ARPU, reflecting stronger prepaid monetization and wider uptake of bundled digital services.
Jazz’s digital business continued to expand rapidly. Digital revenue grew 43.7 percent year-on-year in 4Q25, increasing its contribution to total revenue to 30.2 percent, compared with 26.1 percent in the same period last year. JazzCash remained a key growth driver, serving over 58 million users and processing Rs15 trillion in transactions in 2025. The platform also issued more than 185,000 loans daily on average, while a single-day record saw Rs1.4 billion disbursed across roughly 266,000 loans.
Mobilink Microfinance Bank sustained strong momentum, reinforcing its position as Pakistan’s largest microfinance bank while expanding financial inclusion through new products, including Islamic banking services for underbanked segments.
Operational performance also improved significantly. EBITDA rose 50.6 percent year-on-year in 4Q25, with margins expanding to 45.7 percent, while full-year EBITDA grew 23.2 percent. Capital expenditure reached Rs20.8 billion in the fourth quarter, representing a capex intensity of 16.9 percent.
In the country’s recent spectrum auction, Jazz acquired 190 MHz of spectrum for $239.5 million, strengthening its network capacity and supporting the future rollout of next-generation connectivity, including 5G.
By the end of the quarter, Jazz’s total subscriber base reached 73.9 million, with 4G users exceeding 55.5 million and 4G penetration rising to 75.2 percent. Multiplay users—those using connectivity alongside digital services—grew 12 percent year-on-year and now account for 38 percent of the customer base, generating roughly 3.3 times the ARPU of voice-only users.
