Worldcall's loss narrows by 18.6% to Rs446m in Q12024

April 30, 2024 (MLN): WorldCall Telecom Limited (PSX: WTL) narrowed its losses during the quarter ended March 31, 2024, to Rs446.06 million [LPS: Rs-0.09], compared to a loss of Rs547.77m [LPS: Rs-0.14] in the same quarter last year.

The profit and loss statement shows that the company's top line expanded by 66.8% YoY to Rs1.03bn as compared to Rs614.78m in SPLY.

However, the cost of sales rose by a greater proportion which worsened the gross profit by 46.4% YoY to Rs37.03m in Q12024.

Accordingly, the gross margins of WTL worsened to 3.61% as compared to 11.24% in Q12023.

The operational expenses of the company clocked in at Rs119.37m, up by 3.53% YoY from the costs recorded in the same quarter last year.

Conversely, depreciation and amortization charges reduced 18.81% YoY to Rs217.82m during Q12024.

WTL's other income section recorded a remarkable turnaround, with an inflow of Rs42.9m compared to the Rs83.65m outflow faced in Q12023.

The company’s finance cost went up by 26.1% YoY and stood at Rs176.07m as compared to Rs139.63m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs12.73m against the Rs9.99m paid in the corresponding period of last year, depicting a rise of 27.4% YoY.

Amount in thousand except for EPS

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