WorldCall Telecom Cuts Losses by 32% in 2024 Amid 71% Revenue Surge

By Tech Desk ⏐ 9 months ago ⏐

2 min read

Worldcall Telecom Cuts Losses By 32 In 2024 Amid 71 Revenue Surge

WorldCall Telecom Limited (PSX: WTL) managed to reduce its losses by 32.3% in 2024, reporting an after-tax loss of Rs1.36 billion (LPS: Rs0.27), down from Rs2.01 billion (LPS: Rs0.46) in 2023.

The company’s revenue witnessed a substantial growth of 71.4%, reaching Rs5.05 billion compared to Rs2.94 billion in the previous year.

While direct costs, excluding depreciation and amortization, rose by 65.4%, they constituted a smaller percentage of sales, positively influencing WTL’s financial performance.

Notably, other expenses saw a sharp decline of 91.5%, falling to Rs25.39 million from Rs299.5 million in 2023, which significantly aided the company’s financial recovery.

On the downside, finance costs edged up by 3.9% to Rs670.63 million.

Regarding taxes, WTL recorded a tax credit of Rs97,000, a reversal from the tax expense of Rs9.35 million reported in 2023.

Description	Dec-24	Dec-23	% Change
Revenue	5,046,440	2,943,549	71.44%
Direct Costs (Excl. Depreciation & Amortization)	(4,651,567)	(2,812,226)	65.41%
Operating Costs	(430,359)	(471,771)	-8.78%
Other Income	232,250	212,434	9.33%
Other Expenses	(25,394)	(299,497)	-91.52%
EBITDA	171,370	(427,581)	-140.08%
Depreciation & Amortization	(801,501)	(953,571)	-15.95%
Finance Cost	(670,629)	(605,343)	3.92%
Loss Before Tax	(1,363,841)	(2,023,289)	-32.59%
Taxation (Current + Deferred)	97	(9,345)	-101.04%
Net Loss After Tax	(1,363,938)	(2,013,944)	-32.28%
Basic Loss per Share (Rs)	(0.27)	(0.46)	-41.30%
Diluted Loss per Share (Rs)	(0.17)	(0.28)	-39.29%

The financial results indicate an improved bottom line primarily due to higher revenues and a substantial drop in other expenses, despite increased finance costs.