Saturday, August 13, 2022

WorldCall Telecom expects to lose Rs. 1.5 billion in 2021

According to the company’s financials, WorldCall Telecom Limited lost a staggering Rs. 1.5 billion in 2021.

The company’s losses went up by 927 percent because its income from services went down and its operating costs went up. According to financial data, WorldCall’s revenue dropped from Rs. 3.1 billion in 2020 to Rs. 2.11 billion in 2021.

For the second year in a row, the telecom company has reported a loss. WorldCall Telecom had a net loss of Rs. 1.5 million in 2020, according to their annual report. The operator lost the same amount of money as before.

The company’s financials show that it lost Rs. 0.51 on each share, which is more than Rs. 0.06 in 2020. WorldCall Operators made money for the first time in five years in 2017. Since Omen Tel is just no longer a major sponsor of the company, $20 million is first got to add to the company’s profits.

Because of this cash flow, profits of Rs. 447 million were reported in 2018, and Rs. 72 million were reported in 2019. WorldCall Telecom said that it would lose money for the second year in a row and that this loss would last until 2020.

Read more: Nothing Phone 1 is already having issues

ARY Communications Limited and ARY Digital FZ LLC tried to buy 51% of the company from the telecom provider, but the deal never went through. But WorldCall Telecom’s stock prices going up pushed the stock market.

PTCL and Dunya Group have also talked to other telecom companies, but PTCL has never been able to reach a deal with any of them to sell its shares.

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