WTL losses narrow 17% amid 84% revenue surge

MG News | October 29, 2024 at 03:16 PM GMT+05:00

0:00

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%.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	1,384,337	751,374	84.24%
Direct costs excluding depreciatiori & amortization	(1,276,439)	(726,886)	75.60%
Operating costs	(121,243)	(105,598)	14.82%
Other income / (expense) — net	55,238	13,986	294.95%
Profit I (Loss) before Interest, Taxation, Depreciation and Amortization	41,893	(67,124)	-
Depreciation and Amortization	(206,360)	(183,709)	12.33%
Financial (charges) / income	(162,352)	(153,755)	5.59%
Profit/ (loss) before taxation	(326,819)	(404,588)	-19.22%
Final tax / levies	(15,861)	(9,831)	61.34%
Net profit/ (loss) for the period	(342,680)	(414,419)	-17.31%
Basic earnings/ (loss) per share	(0.07)	(0.13)	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	148,617.78 624.60M	0.86% 1274.27
ALLSHR	91,685.08 1,340.28M	0.74% 669.39
KSE30	45,247.79 197.43M	0.83% 370.74
KMI30	212,370.79 224.51M	1.05% 2209.48
KMIALLSHR	61,227.89 711.87M	1.18% 715.56
BKTi	41,264.02 160.39M	0.54% 221.73
OGTi	30,019.10 23.63M	0.64% 190.41

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,265.00	113,390.00 108,020.00	-4475.00 -3.97%
BRENT CRUDE	67.46	67.94 67.29	-0.52 -0.76%
RICHARDS BAY COAL MONTHLY	88.70	88.70 88.70	-0.75 -0.84%
ROTTERDAM COAL MONTHLY	96.15	96.75 96.00	-0.40 -0.41%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	64.01	64.55 63.88	-0.59 -0.91%
SUGAR #11 WORLD	16.34	16.52 16.33	-0.14 -0.85%