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August 2, 2026
ISLAMABAD – August 1, 2026: JazzWorld delivered strong growth in the second quarter of 2026, with total revenue increasing 25.3% year-on-year (YoY) to cross PKR 139 billion, driven by sustained growth across its telecommunications and infrastructure business, along with its expanding digital services portfolio.
Telecommunications and infrastructure revenue grew 15.8% YoY to PKR 85.5 billion, supported by effective pricing, improved prepaid monetization, continued adoption of multiplay offers, higher data consumption and an expanding subscriber base.
Digital revenue increased 44.1% YoY to PKR 53.9 billion, contributing 38.7% of total revenue, up from 33.6% a year earlier. Financial Services revenue grew 53.3% YoY to around PKR 39.0 billion, primarily driven by continued expansion in lending at JazzCash, complemented by growth across payments, merchant services, and SME solutions. EBITDA increased 30.5% YoY to PKR 60.3 billion, while EBITDA margin improved by 1.7 percentage points YoY to 43.3%, reflecting strong revenue growth, disciplined cost management and operating leverage.
During the quarter, JazzWorld invested PKR 20.4 billion, up 27.4% YoY, primarily reflecting the start of Jazz’s 5G rollout following its recent spectrum acquisition. Investment is expected to increase further during the year as the company deploys its newly acquired spectrum and expands 5G coverage and network capacity to support higher data usage and growing demand for digital connectivity.
Complementing these investments, VEON announced in July the acquisition of a 76.33% stake in TPL Insurance for approximately USD 16.4 million, adding digital insurance to JazzWorld’s financial services ecosystem and creating new opportunities to expand insurance access by combining TPL Insurance’s underwriting capabilities with the scale of JazzCash and Mobilink Bank.
Jazz continued to make progress on its DO1440 and AI1440 strategy. Its mobile subscriber base reached 75.4 million, while 4G users grew 6.6% YoY to 58.1 million, increasing 4G penetration to 77.1%. Mobile ARPU rose 14.0% YoY to PKR 328.6, supported by disciplined pricing and higher data usage, which increased 14.4% YoY to 8.2 GB per user. Multiplay customers reached 22.9 million, generating approximately 3.5 times the ARPU of voice-only users and continuing to drive adoption of integrated digital experiences.
JazzCash continued to strengthen its leadership in Pakistan’s digital financial services landscape, serving more than 60 million users. Its Gross Transaction Value (LTM) increased 67.5% YoY to PKR 19.6 trillion, while the platform issued more than 224,000 digital loans daily during the quarter. Its active merchants exceeded 735,000, supported by a network of more than one million Raast QR-enabled merchants.
During the quarter, JazzCash and Mobilink Bank launched Treasury Bill investments through the JazzCash app, enabling eligible customers to invest in Pakistan government securities and broadening access to formal financial markets. JazzCash was also recognized among the World’s Top Fintech Companies 2026 by CNBC and Statista in the Payments category.
Across JazzWorld’s digital ecosystem, Tamasha maintained approximately 70% market share during the Pakistan Super League season before closing the quarter with 38.7 million active users. SIMOSA, JazzWorld’s digital self-care and lifestyle platform, reached 33.8 million active users and ROX crossed 3.3 million active users, while FikrFree reached 17.9 million policyholders, reflecting continued demand for JazzWorld’s digital platforms throughout the quarter.
Commenting on the results, Aamir Ibrahim, CEO of JazzWorld, said: “JazzWorld’s strong performance in the second quarter of 2026 reflects its continued evolution into Pakistan’s leading integrated digital ServiceCo. Our DO1440 and AI1440 strategy is shaping the next phase of JazzWorld’s growth as we scale digital services, strengthen intelligent infrastructure, and deliver innovative solutions that expand access to connectivity, financial services, and digital experiences across Pakistan. As Pakistan’s digital economy evolves, we remain committed to driving innovation, accelerating digital inclusion, and enabling a Better Life for All through technology.”
JazzWorld remains focused on expanding its integrated digital ecosystem through sustained investment in next-generation connectivity, AI-powered platforms and inclusive financial services. These investments will strengthen the country’s digital infrastructure, broaden access to innovative digital solutions and further accelerate Pakistan’s digital transformation while enabling a Better Life for All through technology.
