JazzCash revenue up 67.6% to Rs43.4 billion in third quarter
JazzCash's financial services business reported revenue of Rs43.4 billion for the quarter ended September 30, 2026, up 67.6% year on year. It also posted a net profit of Rs6.8 billion.
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- Revenue rose 67.6% year on year to Rs43.4 billion in the quarter ended September 30, 2026.
- Net profit was Rs6.8 billion; profit before tax rose 296.8% to Rs8.9 billion.
- Active customers rose 15.6% to 30.4 million.
- TechJuice reported that JazzCash closed or suspended over 100 aggregator accounts after an FIA discovery.
JazzCash and its associated financial services businesses recorded a 67.6 percent year-on-year increase in revenue to Rs43.4 billion in the third quarter ended September 30, 2026, according to results reported by Business Recorder and TechJuice.
Business Recorder, citing VEON's latest financial results, said growth came as digital transactions surged and lending expanded. It added that VEON strengthened its position in Pakistan's telecom and financial services markets through a $240 million spectrum acquisition and the takeover of TPL Insurance.
TechJuice reported that the business posted a net profit of Rs6.8 billion in the quarter. Profit before tax rose 296.8% to Rs8.9 billion.
Gross transaction value rose 79.2% to Rs6.9 trillion. The company also generated Rs3.2 trillion in chargeable gross transaction value during the quarter, TechJuice reported.
Active customers rose 15.6% to 30.4 million, while active merchants reached 957,100, an increase of 121.9%. JazzCash issued more than 230,000 nano-loans per day during the quarter, and its gross loan portfolio grew 51.9% year on year to Rs134.6 billion.
TechJuice also reported that the Federal Investigation Agency uncovered a Rs120 billion digital gambling syndicate, with criminals routing Rs119.93 billion through local digital payment channels. Five branchless collection accounts processed Rs8.586 billion across 10.5 million transactions.
After the discovery, JazzCash closed or suspended over 100 aggregator accounts, TechJuice reported. Some were closed through FIA notices and the rest were flagged and suspended in internal reviews. JazzCash and Easypaisa have suspended payment collection services for all payment aggregators following FIA instructions on illegal online gambling and suspicious transactions.
TechJuice said sources told it the closure of these channels will significantly damage JazzCash's upcoming annual earnings. It said it asked JazzCash for an explanation and received no response.
Why it matters
JazzCash is a widely used mobile wallet, so its results show how people in Pakistan pay and borrow. The company reported 30.4 million active customers and 957,100 active merchants. It issued more than 230,000 nano-loans a day, so small borrowers are affected by its lending growth. The suspension of payment collection for aggregators by JazzCash and Easypaisa, reported by TechJuice, also affects businesses that relied on those services.
