WorldCall Telecom Limited (WTL) has kept the promise by delivering performance. Company closed its’ 3rd Quarter results at Rs. 3,320 million of revenue for nine months, showing an increase of 95% whilst the profit for the quarter alone reached the landmark Rs. 341 million. Company was able to achieve positive bottom line in June 2017 and same trend continues in successive quarters of 2018 showing upward trend. Balance Sheet cleansing is also being done in parallel. Evidenced from extrapolation on the nine month results, the company is poised to fulfill the promises made to the investors during investor briefing at start of the year i.e. Rs. 4,000 million topline and positive bottom line.
The healthy bottom line of Rs. 980 million has translated into EPS of 21 paisa per share. If we exclude dividend on CPS and other related items used for calculating EPS this would improve the EPS significantly.
Steady LDI operations for the period amidst shifts in the market, price fluctuations show that WTL’s infrastructure not only enjoys the merit but also has the potential to achieve big with small investments with new add-on technologies. New state of the art switch is being deployed for better services and new products introduction in LDI segment.
Broadband segment has gained grounds through owned infrastructure as well as penetration offered through loop holders who have opened access to over 800,000 subscribers across country. Apart from these conventional lines of media broadcasting Worldcall is part of the campaign to launch the new technological shifts in this industry in the form of FTTH and digital TV. Direct To Home (DTH) License’ issuance is expected during this month which would start another era of digitalization and company is planning to gain maximum advantage from this initiative. Further we are well placed to launch Fiber to the Home (FTTH) as target areas along with vendors have been finalized.
IT services have started picking up and contributing in revenue. E-Commerce platform has already been put into commercial use now and Company is looking into options to develop / acquire platforms for Channel rating and Mobile banking etc.
For our stakeholders’ clarity it is again reiterated that Other Income has been a typical feature of company’s Profit and Loss statement lately, and it would continue to feature for some time in the future. Reason being its constituents, WorldCall’s assets are appearing at impaired value and liabilities at maximum value. So Other Income would continue to materialize as any liability is settled at discounts and assets are put into productive use.
Muhammad Azhar Saeed
Chief Financial Officer