JazzWorld Revenue Up 27% to Rs144.9bn in Q3

JazzWorld revenue grew 27 per cent to Rs144.9 billion in the third quarter of 2026, as digital services crossed 40 per cent of total revenue for the first time.

JazzWorld reported revenue of PKR 144.9 billion for the third quarter of 2026, up 26.6 per cent from a year earlier. Digital services revenue grew 47.9 per cent year on year to PKR 58.1 billion and accounted for 40.1 per cent of total revenue, up from 34.3 per cent a year earlier. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 23.9 per cent to PKR 65.2 billion, while telecommunications and infrastructure revenue grew 15.5 per cent to PKR 86.8 billion.

JazzWorld revenue driven by digital services

The quarter shows how far JazzWorld has moved from a mobile company to a digital services business. Digital revenue now brings in two rupees in every five, and it is growing three times as fast as the telecom business.

Jazz served 76.4 million mobile customers, up 5.1 per cent from a year earlier, while its 4G and 5G customer base grew 8.1 per cent year on year to 59.5 million. Average data usage rose 11.7 per cent year on year to 8.4 GB per user, and ROX, Jazz’s premium digital brand, reached 3.3 million active users, up 62.8 per cent from a year earlier.

JazzWorld increased its investment by 68.9 per cent year on year to PKR 20.9 billion during the quarter, including PKR 18.6 billion in telecommunications and infrastructure. The investment supported the deployment of newly acquired spectrum, expansion of network capacity, and continued rollout of 5G services, with more than 1,000 5G sites deployed to date.

JazzCash leads financial services growth

Financial services revenue grew 67.6 per cent year on year to PKR 43.4 billion across JazzCash, Mobilink Bank, and JazzSure Insurance, which was previously TPL Insurance. Growth came from lending, payments, merchant services and insurance.

The gross loan portfolio of the Pakistan financial services business increased 51.9 per cent year on year to PKR 134.6 billion as of September 30. Net profit in the business reached Rs6.8 billion, while profit before tax rose nearly fourfold to Rs8.9 billion.

JazzCash continued to expand its digital financial services ecosystem, serving 65 million branchless banking accounts, including 30.4 million active users during the quarter. Its gross transaction value increased 79.2 per cent year on year to PKR 6.9 trillion, while its merchant network expanded to about 2 million, including 957,000 active merchants. JazzCash also issued more than 230,000 nano-loans daily during the quarter.

VEON group results back the Pakistan numbers

The Pakistan figures sit inside strong group results from VEON, JazzWorld’s parent company. VEON reported third-quarter revenue of $1.307 billion, up 17.2 per cent year on year, while EBITDA rose 10.1 per cent to $577 million and net profit reached $225 million. Pakistan was the group’s strongest market, with revenue of $522 million, up 28.9 per cent, and VEON raised its full-year 2026 revenue growth guidance to 16 to 18 per cent.

Aamir Ibrahim, CEO of JazzWorld, said: “When we introduced JazzWorld as a digital services platform, we wanted it to reflect how people were already using our services. Today, digital services account for 40% of our revenue. That is why investment in our network remains central to our growth.”

Competition is also heating up. Ufone has nearly caught Jazz on subscribers, with only 150,000 subscribers separating the two largest operators as Pakistan’s total cellular base passed 211 million in September 2026. Smartphone affordability remains held back by a credit barrier for many buyers. The government’s push for fully digital payments gives JazzWorld’s strategy a ready market.

Frequently asked questions

How much revenue did JazzWorld earn in Q3 2026?

JazzWorld reported revenue of PKR 144.9 billion for the third quarter of 2026, up 26.6 per cent from a year earlier. EBITDA rose 23.9 per cent to PKR 65.2 billion.

What drove JazzWorld’s growth?

Digital services revenue grew 47.9 per cent to PKR 58.1 billion and now accounts for 40.1 per cent of total revenue. Financial services revenue grew 67.6 per cent to PKR 43.4 billion, led by JazzCash lending and payments. Telecom and infrastructure revenue grew 15.5 per cent to PKR 86.8 billion.

How many customers does Jazz serve?

Jazz served 76.4 million mobile customers, including 59.5 million 4G and 5G users. JazzCash served 65 million branchless banking accounts, with 30.4 million active users in the quarter.

What did VEON report for the group?

VEON, JazzWorld’s parent, reported third-quarter revenue of $1.307 billion, up 17.2 per cent, with net profit of $225 million. Pakistan revenue was $522 million, up 28.9 per cent, and VEON raised its full-year revenue growth guidance to 16 to 18 per cent.