WorldCall Telecom Limited has recorded a staggering loss of Rs. 1.5 billion in the calendar year 2021.
The losses of the company have increased by a massive 927 percent due to decreasing revenues against the services along with the cost of operations, which shot up unabatedly.
According to the financial results, WorldCall’s revenues fell to Rs. 2.11 billion in 2021 compared to Rs. 3.1 billion reported in 2020.
This is the second year in a row in which the telecom operator reported a loss. In 2020, WorldCall Telecom reported a loss of Rs. 1.50 million. The operator continued to generate losses similar to its previous record.
The company reported a loss per share of Rs. 0.51 compared to Rs. 0.06 in 2020.
WorldCall Operators had become profitable in 2017 after a gap of 5 years. The profitability was driven due to an injection of $20 million made by Omen Tel on account of liabilities upon its exit from the company as a major sponsor.
The telecom operator remained profitable through this money in 2018 and 2019, with Rs. 447 million and Rs.72 million profits reported, respectively.
WorldCall Telecom couldn’t sustain profit in 2019 and reported losses again, which stretched to the next year.
The telecom operator was approached by ARY Communications Limited and ARY Digital FZ LLC for the acquisition of a 51 percent share but the deal could not materialize. However, WorldCall Telecom drove the equity market with its high share prices.
Previously, the telecom operators also had different negotiations with PTCL and Dunya Group, but the operator failed to seal any deal for selling off its stakes to any of these operators, historically.