WTL losses narrow 17% amid 84% revenue surge

October 29, 2024 (MLN): WorldCall Telecom Limited (PSX: WTL) reduced its loss by 17.3% in the third quarter of the current year, with a loss after tax of Rs 342.68 million [LPS: Rs 0.07].

This compares to a net loss of Rs 414.42 million [LPS: Rs 0.13] recorded in the same period last year (SPLY).

WTL still remains in loss despite its revenue surging by 84.2% to Rs1.38bn as compared to Rs751.37m in SPLY.

The company's direct costs excluding depreciation & amortization and Operating costs surged during the quarter under view.

Nonetheless, WTL posted a positive profit before interest, tax, and depreciation expenses, contrasting with a loss of Rs 67.12 million in Q3 CY23.

A significant contribution came from other income, which surged by 294.95% in Q3 CY24.

On the expense side, depreciation & amortization rose 12.33% to Rs206.36m.

The company’s finance cost also increased by 5.6% and stood at Rs162.35m as compared to Rs153.76m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a higher tax worth Rs15.86m against the Rs9.83m paid in the corresponding period of last year, depicting an increase of 61.3%.

Amount in thousand except for EPS

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