Hifsa Raja

WorldCall Telecom Limited’s revenue decreased 34% to Rs1.71 billion in the first nine months of 2022 compared with Rs2.61 billion over the corresponding period of the previous year. The company managed to reduce the operating cost to Rs317 million in 9MCY22 from Rs412 million in 9MCY21, showing a year-on-year decrease of 23%.

However, the loss before taxation skyrocketed to Rs832 million in the nine-month period of CY22 from a loss of Rs6.5 million over the corresponding period of CY21, registering a massive 12,596% growth in the loss. The company sustained a loss-after-tax of Rs856 million in 9MCY22 compared to a profit-after-tax of Rs88 million in 9MCY21, posting a 1069% growth in loss, reports WealthPK.

Performance in CY21

During the calendar year 2021, the company’s revenue decreased to Rs2.11 billion from Rs3.14 billion in 2020, registering a negative growth of 33%. However, the company’s operating cost slightly ebbed to Rs409 million in CY21 from Rs411 million in CY20.  The company’s before-tax loss ballooned to Rs1.46 billion in CY21 from a loss of Rs294 million in CY20.  The loss-after-tax in CY21 also skyrocketed to Rs1.50 billion from a loss of Rs150 million in CY20, reports WealthPK.

Earnings Per Share

Except for 2019, the company’s earnings per share (EPS) remained in the negative territory in 2018, 2020, and 2021. In 2019, the EPS stood at Rs0.04 but plunged to minus Rs0.51 in 2021.

Shareholdings

As of June 30, 2021, associated companies, undertakings, and related parties owned 42.15% of the total shares of the company. Banks, development financial institutions, and non-banking financial institutions had 1.78% shares. The general public (local segment) owned 46.71% shares, while the (foreign segment) owned 6.71% shares. Joint stock companies possessed 2.63% of the shares.

Company profile

WorldCall Telecom Limited is a public limited company incorporated in Pakistan on March 15, 2001. The company commenced its operations on December 1, 2004. It is engaged in providing Wireless Local Loop (WLL) and Long Distance & International (LDI) services in Pakistan. It is also re-broadcasting international/national satellite/terrestrial wireless and cable television and radio signals. It is also involved in interactive communication and establishing, maintaining, and operating licensed telephony services.

Credit : Independent News Pakistan-WealthPk