WorldCall’s losses dial down by 32% in 2024
MG News | March 03, 2025 at 09:48 AM GMT+05:00
March 03, 2025 (MLN): WorldCall Telecom Limited (PSX: WTL) saw its loss shrink by 32.3% in 2024, with the after-tax loss decreasing to Rs1.36 billion [LPS: Rs0.27] from Rs2.01bn [LPS: Rs0.46] in 2023.
According to the financial results, the company’s revenue surged by 71.4% to Rs5.05bn, compared to Rs2.94bn in the previous year.
WTL direct costs, excluding depreciation and amortization, increased by 65.4% but remained lower as a percentage of sales, supporting the overall financial position.
Other expenses dropped significantly by 91.5% to Rs25.39m from Rs299.5m in 2023, contributing to the improvement.
However, finance costs rose by 3.9% to Rs670.63m.
On the tax front, the company recorded a tax credit of Rs97,000 against a prior tax expense of Rs9.35m in 2023.
| Consolidated Financial Results For The Period Ended December 31, 2024 (Rupees in '000) | |||
| Description | Dec-24 | Dec-23 | %Change |
| Revenue | 5,046,440 | 2,943,549 | 71.44% |
| Direct costs excluding depreciation and amortization | (4,651,567) | (2,812,226) | 65.41% |
| Operating costs | (430,359) | (471,771) | -8.78% |
| Other Income | 232,250 | 212,434 | 9.33% |
| Other Expenses | (25,394) | (299,497) | -91.52% |
| Profit/(Loss) before Interest, Taxation, Depreciation, and Amortization | 171,370 | (427,581) | -140.08% |
| Depreciation and Amortization | (801,501) | (953,571) | -15.95% |
| Finance Cost | (670,629) | (605,343) | 3.92% |
| Loss before levy and income taxes | (1,300,760) | (1,986,495) | -34.52% |
| Levy-final / Minimum Taxes | (63,081) | (36,794) | 71.44% |
| Loss before income tax | (1,363,841) | (2,023,289) | -32.59% |
| Taxation | |||
| - Current Year | 97 | (9,345) | -101.04% |
| - Prior Year | |||
| - Deferred Tax | 97 | (9,345) | -101.04% |
| Loss after income tax | (1,363,938) | (2,013,944) | -32.28% |
| Loss per Share - Basic (Rupees) | (0.27) | (0.46) | -41.30% |
| Loss per Share - Diluted (Rupees) | (0.17) | (0.28) | -39.29% |
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