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Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

WTL’s per share loss hits Rs0.46 in 2023

US-based GTC takes helm as Worldcall's holding firm
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April 09, 2024 (MLN): WorldCall Telecom Limited (PSX: WTL) reported its financial performance for 2023, wherein the loss after tax widened to Rs2.01 billion [LPS: Rs0.46] compared to a loss of Rs1.38bn [LPS: Rs0.32] in the previous year.

Going by the results, the company's revenue rose 27.9% YoY to Rs2.94bn as compared to Rs2.3bn in 2022.

Direct cost excluding depreciation and amortization also increased by 51.6% YoY to Rs2.81bn in 2023.

During the period under review, other income shrank 4.9% YoY to stand at Rs212.43m in 2023 as compared to Rs223.43m in 2022.

On the expense side, the company observed an increase in operating cost by 18.7% YoY and other expenses by 78.9% YoY to clock in at Rs471.77m and Rs299.5m respectively during the review period.

The company’s finance cost inflated by 59.9% YoY and stood at Rs605.34m as compared to Rs378.66m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a lower tax worth Rs27.45m against the Rs38.12m paid in the corresponding period of last year, depicting a fall of 28.0% YoY.

Consolidated (un-audited) Financial Results for year ended December 31, 2023 (Rupees in '000)
  Dec 23 Dec 22 % Change
Sales – Net 2,943,549 2,301,245 27.91%
Direct cost excluding depreciation and amortization (2,812,296) (1,855,163) 51.59%
Operating cost (471,771) (397,478) 18.69%
Other Income 212,434 223,426 -4.92%
Other operating expenses (299,497) (167,384) 78.93%
Finance Cost (605,343) (378,655) 59.87%
Depreciation and amortization (953,571) (1,072,857) -11.12%
Profit before taxation (1,986,495) (1,346,866) 47.49%
Taxation (27,449) (38,116) -27.99%
Net profit / (loss) for the period (2,013,944) (1,384,982) 45.41%
Basic earnings/ (loss) per share (0.46) (0.32)

Amount in thousand except for EPS

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Posted on: 2024-04-09T09:13:22+05:00