Karachi September 4 2023: Worldcall Telecom Limited (WTL) management is optimistic about company’s future through growth in Fiber to the Home segment and increasing composition of exports through strategic alliance with World Mobile Group despite posting significant loss for the first half 2023, according to company filing to the exchange.
WTL’s future outlook is all about technological transformation; roadmap of which may be segregated in broader segments of (1) Fiber to The Home (FTTH) planned deployment & penetration in urban areas and (2) strategic alliance with World Mobile Group (WMG) by lending technological/ logistic support to them in their initiatives for the underprivileged nations around the globe namely “connect the unconnected” and broadband for all. Pivotal point which needs utmost emphasis is that our existing infrastructure is massive, ample and positioned in a way to fully augment and advance business segments mentioned hereinabove and our future technological expansion.
During the first half 2023, the Company closed its financial results reporting PKR 1,161 million as loss after tax. Positive movement in revenue was witnessed and corresponding hike in direct costs aligned with the earlier. Depreciation and amortization expense is more or less consistent with the comparative figure. Finance cost witnessing adverse movement on account of increase in KIBOR. The significant devaluation of PKR (Rupee-Dollar-Parity) has severely affected the profitability of the Company.
