Jawad Ahmed

Telecard Limited’s net sales increased 23.31% to Rs1.49 billion in the financial year that ended on June 30, 2022 compared with Rs1.21 billion in the fiscal 2020-21. During the year, the company delivered exceptional results as its sales revenue, volumes and profitability increased, reports WealthPK quoting the company’s financial stats. Telecard Limited was incorporated in Pakistan on October 29, 1984 as a public limited company. The company itself and through its subsidiaries is licensed to provide fully integrated telecommunications services, including basic wireless telephony, long distance and international services and payphones.

The company reported a gross profit of Rs527 million during FY22, which was down 6.3% from the previous year’s Rs563 million. However, the company’s net profitability rose 9.16% to Rs298 million in FY22 from Rs273 million in FY21. This increase caused the earnings per share (EPS) to marginally increase to Rs0.95 from Rs0.91 the previous year.

Shareholding pattern

As of June 30, 2022, local investors owned 53% of shares, joint stock companies 44.23%, and modarabas and mutual funds possessed 2.36% of shares.

Company’s performance over the years

In 2019, the company’s sales revenue increased to Rs1.09 billion from Rs878 million in 2018. The company’s gross profit surged to Rs440 million from Rs319 million the previous year, registering a 38% increase year-over-year. The company suffered a loss-after-tax of Rs60 million in 2019 compared to a loss-after-tax of Rs129 million in 2018. This translated into loss per share of Rs0.20 in 2019 as opposed to loss of Rs0.43.

In 2020, the company’s revenue slightly increased to Rs1.18 billion from Rs1.09 billion the previous year. The gross profit jumped to Rs528 million in 2020 from Rs440 million in 2019. The company declared a net loss of Rs109 million in 2020 compared to a loss of Rs60 million in 2019. Thus, the loss per share increased from Rs0.20 to Rs0.36.

The company’s top line marginally increased to Rs1.21 billion in 2021 from Rs1.18 billion in 2020. The gross profit inched up to Rs563 million from Rs528 million the previous year, mostly attributable to growing demand and recovery of the economy following the lifting of the Covid-19-induced restrictions. Last year’s net losses of Rs109 million were converted into a profit of Rs273 million in 2021. As a result, the company reported earnings per share of Rs0.91, recovering from a loss per share of Rs0.36 the previous year.

Credit: Independent News Pakistan-WealthPk