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.
| Consolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Mar 24 | Mar 23 | % Change | |
| Sales | 1,025,321 | 614,783 | 66.78% |
| Cost of sales | (988,289) | (545,700) | 81.10% |
| Gross Profit/ (loss) | 37,032 | 69,083 | -46.39% |
| Operating costs | (119,367) | (115,302) | 3.53% |
| Depreciation and amortization | (217,821) | (268,282) | -18.81% |
| Other Income | 42,903 | (83,645) | – |
| Finance Cost | (176,072) | (139,629) | 26.10% |
| Profit/ (loss) before taxation | (433,325) | (537,775) | -19.42% |
| Taxation | (12,731) | (9,992) | 27.41% |
| Net profit/ (loss) for the period | (446,056) | (547,767) | -18.57% |
| Basic earnings/ (loss) per share | (0.09) | (0.14) | – |
Amount in thousand except for EPS
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Posted on: 2024-04-30T11:07:48+05:00
