Jazz posts 20.3pc revenue growth YoY in Q1
ISLAMABAD: Jazz, country's leading digital operator and a part of the VEON Group, reported a 20.3 per cent year-on-year revenue growth in Q1 2025, driven by continued digital diversification and disciplined cost management.
During the quarter, Jazz invested Rs9.5 billion—marking a 78.4 percent year-on-year increase—to expand 4G capacity and scale its digital platforms. This performance was delivered despite persistent macroeconomic and policy headwinds impacting the telecom sector.
Direct digital revenues grew 49.5 per cent YoY, contributing 27.7 per cent to total revenue, driven by strong fintech and digital services performance and Jazz's strategic shift to platform-based models. With over 20.6 million monthly active users, Pakistan's leading fintech JazzCash processed a gross transaction value of Rs 10.7 trillion during the last twelve months as of March 2025. Its extensive network, comprising 121,000 active agents and over 340,000 active merchants, has facilitated considerable digitalization of society, with approximately 142,000 digital loans issued daily. Mobilink Bank also delivered a strong performance, recording 25.5 per cent revenue growth.
Among digital verticals, Tamasha—Pakistan's largest home-grown streaming platform—grew 37.6 per cent year-on-year to 16.5 million MAUs, driven by exclusive cricket content, including over 57 live match days across the ICC Champions Trophy, PSL, and major bilateral series.
SIMOSA, Jazz's Sim-Care, Lifestyle & Social app, grew to 20.9 million MAUs, with its new social community attracting 1 million users within 23 days of launch in Q1 2025. FikrFree, Jazz's AI-powered insurance and healthcare marketplace, has surpassed 1 million MAUs and 1.8 million policies sold since its October 2024 launch, with new features underway to expand access to quality healthcare nationwide. ROX—Jazz's youth-centric digital lifestyle platform—also grew to 700,000 monthly active users.
The company's mobile customer base reached 73.4 million, with 4G users increasing 16 per cent year-on-year to 53.3 million. Mobile ARPU rose 14.0 per cent to PKR 328, supported by higher data usage and uptake of digital bundles. Multiplay customers—who use more than one Jazz service—grew 33.1 per cent and now account for 37 per cent of the user base. EBITDA grew 13.2 per cent year-on-year, while EBITDA margins slightly declined to 42 per cent, reflecting a shifting revenue mix. As Jazz scales new digital platforms, which have comparatively lower margins than traditional telecom services, investments in innovation and service diversification are expected to drive long-term growth.
Aamir Ibrahim, CEO of Jazz, said: 'This growth reflects our successful transformation into a ServiceCo—powered by innovation, financial discipline, and a deep commitment to digital inclusion. We're building platforms that empower individuals, enable small businesses, and help create a more connected, resilient Pakistan. To sustain this momentum, we urgently need tax and policy reforms that recognise the strategic value of digital infrastructure and foster long-term investment.'
As Pakistan's top taxpayer, Jazz has contributed over Rs502 billion to the national exchequer in the past decade.
Copyright Business Recorder, 2025
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