Worldcall incurs Rs303m loss in three months

News Image

MG News | August 27, 2024 at 09:21 AM GMT+05:00

0:00

August 27, 2024 (MLN): WorldCall Telecom Limited (PSX: WTL) saw its loss shrink by more than 50% in the second quarter of 2024, with the after-tax loss decreasing to Rs303.21 million [LPS: Rs0.06] from Rs614.7 million [LPS: Rs0.31] in Q2 CY23.

According to the results, the company's top line increased by 77.9% to Rs1.26bn, compared to Rs710.37m in SPLY.

WTL's direct costs excluding depreciation & amortization also increased by 66.1%, but the net balance stood higher compared to Q2 CY23 due to even greater sales growth.

On the expense side, the company's operating costs fell 15.1% YoY to Rs106.53m, while depreciation and amortization expenses also declined by 24.2% YoY to Rs197.51m.

A significant increase in sales, combined with a reduction in expenses, reduced WTL's losses; however, this improvement was not enough to turn the company profitable.

The company’s finance cost increased by 10.5% and stood at Rs175.15m as compared to Rs158.49m in SPLY, mainly due to higher interest rates.

On the tax front, the company received a tax credit worth Rs14m against the Rs1.86m received in the corresponding period of last year, depicting a rise of 651.8%.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 1,263,658 710,365 77.89%
Direct costs excluding depreciation & amortization (1,144,484) (689,002) 66.11%
Operating costs (106,531) (125,543) -15.14%
Depreciation and amortization (197,510) (260,442) -24.16%
Other income / (expenses) - Net 70,803 (89,719) -
Finance Cost (175,147) (158,492) 10.51%
Profit/ (loss) before taxation (289,211) (612,833) -52.81%
Taxation (13,999) (1,862) 651.83%
Net profit/ (loss) for the period (303,210) (614,695) -50.67%
Basic earnings/ (loss) per share (0.06) (0.31) -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 163,098.19
607.60M
-0.87%
-1432.62
ALLSHR 99,276.25
1,397.26M
-0.80%
-801.63
KSE30 50,184.56
221.88M
-0.89%
-450.56
KMI30 238,333.52
129.55M
-1.13%
-2718.46
KMIALLSHR 65,792.54
685.73M
-0.99%
-655.65
BKTi 45,653.52
111.72M
-1.00%
-461.31
OGTi 32,313.25
10.70M
-1.57%
-516.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,520.00 0.00
0.00
-2470.00
-2.11%
BRENT CRUDE 62.09 65.36
62.00
-3.13
-4.80%
RICHARDS BAY COAL MONTHLY 81.00 81.00
81.00
-1.60
-1.94%
ROTTERDAM COAL MONTHLY 90.50 0.00
0.00
0.40
0.44%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.24 0.00
0.00
-0.66
-1.12%
SUGAR #11 WORLD 16.10 16.35
15.97
-0.16
-0.98%

Chart of the Day


Latest News
October 12, 2025 at 03:48 PM GMT+05:00

Weekly Market Roundup


October 12, 2025 at 01:19 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


October 11, 2025 at 06:54 PM GMT+05:00

Govt moves closer to privatization of First Women Bank


October 11, 2025 at 01:41 PM GMT+05:00

U.S. to impose 100% tariffs on chinese imports


October 11, 2025 at 01:20 PM GMT+05:00

Crypto bloodbath as Trump drops tariff bombshell on China



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg