Warid’s Revenues up by 10 % in Q3 2011

Warid_LogoWarid Telecom reported 10 percent growth in revenues for third quarter fiscal year 2011, however, it contributed in loss loss to Singtel’s profit.

Singtel, while reporting it’s share of 30 percent stakes in Warid, said that despite 10 percent growth in revenues in Q3 2011, Warid posted net loss; including fair value losses and the 12% depreciation of the Pakistani Rupee against the Singapore Dollar.

Singtel in it’s quarterly financial report said that Group’s share of overall pre-tax losses amounted to 14 million Singapore Dollars, 1.4% higher compared to the same quarter last year.

Financial report said that the Group’s share of pre-tax losses from Warid increased by 17% or 2 million Singapore dollars when compared to preceding quarter on increased financing costs and fair value losses.

Singtel holds 30 percent interest stakes in Warid through a deal with Dhabi Group, while remaining 70 percent shares are still owned by Dhabi Group, a privately held group based out of UAE.

Singtel said that Warid’s EBITDA improved by 21% on operating revenue growth.

Report revealed that Warid is currently in discussions with certain of its lenders in relation to a proposed restructuring of its loan facilities.

As at 30 September 2011, the outstanding principal value amounted to approximately US$752 million, and was secured by a floating charge on Warid’s assets. US$90 million of these loan facilities were guaranteed by SingTel and US$512 million was secured by guarantees of the other shareholder group of Warid.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

  • khan

    Title of the article seems like a good news but the content is very disturbing… :-)

  • Salman Sultan

    It is just the beginning and Warid is preparing to thrive. It has now the most outstanding Telecom Professionals taking care the enterprise.

    • Shahid Saleem

      — It is just the beginning

      The BEGINNING?!???? Beginning of what? Warid launched years ago!

  • waqas

    now on right track and will excel now warid will shake the telecom market of pakistan again

  • Arif

    Warid is really doing well now a days. i heard they are expanding their coverage and working hard to better their quality.

    • waqas

      yes huge amount is going to invest again in network and IT solutions also for human resource

  • Faizan

    Its hard to imagine why they are suffering losses.

  • zain

    they need to give serious emphases on their marketing department. perhaps i think warid has no marketing deptt.
    even a shopkeeper do more marketing than this big company

  • rafay

    Yeh they should change their marketting company/team.
    They have started LBC in whole of sindh except khi but they hve termed it as hyderaabd region and i havent seen any banner or holding of this offer.
    When zonf started LBC in hyd they had big banners and holdings.
    Wake up warid.

  • Echo. . . .

    Dear admin warid has reverted back their Sms delivery service from today and free of cost please share this story with the people.

    • admin

      I am told that they testing this service, and decision for offering this service to customers for free is still pending.

      • Toufiq

        its not testing… its simply they have reverted back the service and its free..

  • Echo. . . .

    Dear admin warid has reverted back their Sms delivery reports service from today and free of cost please share this story with the people.

    • rafay

      They disabled delivery reports long time ago u realized it now.

  • waqas

    yes it is still working, at 9:38am

  • waqas

    check the below link and those who want to leave warid where are your comments

    • waqas

      Also Cellinfo display is expacted soon

  • Pakistan News

    The above post is nice, it is a good sign Warid is rebuilding their network which is a positive sign for Warid Users..