WorldCall Telecom Limited (WTL), a telecom and media service provider, has succeeded in making a profit of Rs. 6.101 billion (including other income and profits from revenue) in the outgoing year of 2017, after a period of 5 years in which it remained under huge financial losses.
According to the financial results, the company’s earning per share also turned into positive at Rs. 6.18 as compared to negative Rs 1.72 per share value due to the losses of Rs. 1.26 billion in 2016.
WorldCall Telecom’s services include data, entertainment, voice and long distance international including wireless broadband, cable broadband, digital television, cable tv. The company’s LDI service provides voice and data solutions for national and international markets catering both to wholesale and retail segments.
|S. No||Year||Profit/ (Loss)||Earning Per Share|
|1||2011||Rs. 290 million||0.34|
|3||2013||(Rs 2.30 billion)||(2.78)|
Oman Tel’s Money Turns WorldCall In Profit
The company witnessed financial stability after various measures were taken which ultimately caused the reduction of losses and got rid of liabilities.
According to the reports, Oman Tel, the major sponsor, injected an amount of $20 million into WorldCall Telecom Limited to write-off its liabilities under its exit plan.
Oman Tel bought major shares (56.8%) of WorldCall Telecom at $193 million in 2008. It exited WorldCall in 2017 with the injection of $20 million. Hence, the operator came in the country with the money and left the country by giving back almost the same money it earned during the period of stay.
In the past couple of years, the company made several attempts, dealing with various groups, to sell out its shares and company – including PTCL and Dunya Group – but the deals were unsuccessful due to failure in negotiation and employee’ strikes.
The financial report added,
Company has undergone a major transformation with the exit of its previous sponsors. Cost restructuring has been affected because of which Operating Costs have been reduced by Rs. 45 million per month and Finance Cost has been curtailed by Rs. 35 million per month.
However, critical deliverables left unaddressed over the last two years are being addressed through funds made available as part of the transaction and management is pleased to report that results are showing a corresponding improvement in absolute terms along with positive trends moving forward, the financial report added.
The company recorded revenue of Rs. 2.32 billion in 2017. It has set a revenue target of Rs 4 billion for 2018.
Cashing in on the new developments in ICT technologies, the company has started to set its footprints in the e-commerce and other business related IT applications. To quote one of such campaigns, it recently got registered with Pakistan Software Export Board as a Call Centre to provide services domestically and internationally.
The new management remains focused on enhancing the profitable revenue streams. It is particularly targeting quantitative growth in revenue through increased subscribers to utilize previously dormant assets, enhanced quality service while monetizing associated offerings.