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
