WorldCall Telecom Limited’s revenue for the year 2018 increased significantly by 88% - better than the pundits projected. Keeping other income aside there was a positive shift of around 1 billion from last year which reflects that company’s performance has improved significantly.
Balance sheet presented much better picture and breakup value increased to 2.15 per share. Still lot of impaired assets resides in the balance sheet which are expected to increase asset base once the assets are revitalized. The company’s current ratio has improved due to cleansing of long outstanding liabilities and the equity has become positive. Moreover, the company’s TFCs, the only secured liability outstanding, has been restructured with repayment tenor extended to the year 2026.
Company has become operationally profitable since June 2017 (excluding liabilities write back) and Positive EBITDA has become a regular feature of the company’s statement of profit and loss.
It was its’ 2nd Successive Year in profit whereby it closed its results at Rs. 446 million profit after tax. However, the same could not be translated into EPS since EPS requires adjustment of net profit for exchange loss and dividend on preference shares which are deducted out of net profit for accounting purposes.
Chief Financial Officer