WTL incurs loss of Rs146.33mn for the year ended December’20

July 12, 2021 (MLN): WorldCall Telecom Limited (WTL) has unveiled its financial statement today for the year ended December 31, 2020 as per which the company incurred a loss of Rs146.33million (LPS:0.06) against the profit worth Rs72.29mn (EPS: 0.04)  in the corresponding period last year.

During the period under review, the total revenue of the company clocked in at Rs3.14billion, shrank by 18.59%, against Rs3.8bn in 2019.

The decline in revenue is mainly attributable to the fall in direct cost by 20.58% to record at Rs1.87bn while the operating cost witnessed a sharp cut by 30.8%, locked in at Rs409million as compared to the same period last year (SPLY).

However, the company also got some relief from the side of expenses head which plummeted by 46.43% while depreciation and amortization cost also dipped by 24% during the said period.

On the other hand, company witnessed a surge of 8.54% in its financial cost which stood at Rs536mn during the year ended December, 2020 as compared to the same period last year.

Going by the financial statement sent to PSX, the income head of the company plunged to Rs609.53mn, depicting a fall by approximately 47%.

With regards to taxes, the company observed a slight positivity as its tax expenses tumbled by 46%. During the year company paid Rs144mn, against Rs267mn in the corresponding period last year.

Financial Results for the Year Ended December 31, 2020 ('000 Rupees)

 

2020

2019

% Change

Net Revenue

3,140,134

3,857,070

-18.59%

Direct cost (excluding Depreciation and Amortization)

(1,874,837)

(2,360,647)

-20.58%

Operating cost

(409,828)

 (592,239)

-30.80%

Other income

609,538

1,144,581

-46.75%

other Expenses

(265,912)

 (495,520)

-46.43

Profit before interest, Taxation, Depreciation and Amortization

1,199,095

1,553,245

-22.80%

Depreciation and amortization

(953,359)

 (1,254,179)

-23.99%

Finance costs

(536,025)

 (493,839)

8.54%

Loss before Taxation

(290,289)

 (194,773)

49.04%

Taxation

143,952

267,071

-46.10%

Net profit/loss for the period

(146,337)

72,298

Basic profit/ loss per share (Rupees)

(0.06)

0.04

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Posted on: 2021-07-12T20:04:00+05:00

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