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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.
