Increased cost pulls down WordCall Telecom's semi-annual profits by 90%

MG News | September 03, 2018 at 09:47 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

WorldCall Telecom Limited reported a 90.7% drop in annual profits for the half year ended June 30^th 2018, mainly due to higher direct cost and a 91% drop in other income.

The company conducted its Board of Directors meeting on August 31^st 2018, to discuss the financial earnings for the half year ended on June 30^th 2018.

The company further compared these results to the earnings made during the half year ended on June 30 2017.

On year-on-year basis, WordCall’s direct cost increased by 44%, while other income dropped from Rs.8 billion to Rs.694.8 million.

This led to an 83% drop in profit before interest, taxation, depreciation and amortization.

The company’s overall half yearly profit for the period dropped from Rs.6.8 billion to Rs.639.8 million.

Apart from this, the company’s basic and diluted earnings per share dropped considerably from Rs.15.7 per share to Rs.0.18 per share.

Financial Results for the Half Year Ended June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Revenue - net	2,290,709	1,090,914	109.98%
Direct cost (excluding Depreciation and Amortization)	(1,313,780)	(912,311)	44.01%
Operating cost	(379,675)	(300,006)	26.56%
Other income/(expense) - net	694,836	8,098,250	-91.42%
Profit/(Loss) before interest, Taxation, Depreciation and Amortization	1,292,090	7,976,847	-83.80%
Depreciation and amortization	(519,726)	(539,193)	-3.61%
Finance costs	(114,825)	(244,366)	-53.01%
Profit/(loss) before Taxation	657,539	7,193,288	-90.86%
Taxation	(17,709)	(319,445)	-94.46%
Net profit/(loss) for the period	639,830	6,873,843	-90.69%
Basic and diluted profit/(loss) per share (Rupees)	0.18	15.70	-98.85%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,511.86 278.75M	0.98% 1646.82
ALLSHR	103,203.80 682.99M	0.89% 908.76
KSE30	50,839.23 100.13M	1.18% 592.12
KMI30	243,245.60 147.66M	1.61% 3852.07
KMIALLSHR	66,892.15 407.33M	1.15% 757.54
BKTi	47,509.55 28.38M	0.77% 361.93
OGTi	34,789.19 8.38M	1.60% 547.02

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,205.00	77,640.00 76,425.00	-225.00 -0.29%
BRENT CRUDE	104.32	109.97 103.50	-3.31 -3.08%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	1.70 1.33%
ROTTERDAM COAL MONTHLY	140.00	0.00 0.00	-0.75 -0.53%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	99.99	0.00 0.00	-0.06 -0.06%
SUGAR #11 WORLD	18.15	18.84 17.93	-0.58 -3.10%