Karachi: WorldCall Telecom Limited has released its annual report and audited financial statements for the fiscal year ending December 31, 2024, illustrating a year of resilience and strategic adaptation amidst a challenging economic landscape. The company reported a net revenue of 5,046 million rupees, a significant increase from the 2,944 million rupees recorded in the previous year. However, the financial year concluded with a net loss after tax of 1,359 million rupees, an improvement from the 2,008 million rupees loss in 2023.
The year 2024 was marked by a volatile global economy with inflationary pressures and sluggish growth impacting several industries, including telecommunications. Despite these challenges, WorldCall Telecom Limited demonstrated strategic foresight and adaptability, maintaining its focus on innovation and digital transformation. According to information available from the Pakistan Stock Exchange (PSX), the telecommunications sector showed substantial growth, driven by advancements in 5G technology and digital services.
WorldCall's financial statements reveal an EBITDA of 176 million rupees, a reversal from the negative 423 million rupees reported in 2023. The company's direct costs, excluding depreciation and amortization, grew to 4,652 million rupees, up from 2,812 million rupees in the previous year. The finance costs also increased to 671 million rupees, compared to 605 million rupees in 2023.
The chairman's review highlighted the company's strategic progress and key developments throughout the year. The Board of Directors emphasized financial prudence, risk mitigation, and shareholder value, focusing on long-term sustainability through continuous investment in innovation and customer-centric strategies. The company's governance framework, supported by three dedicated committees, played a crucial role in overseeing financial integrity and regulatory compliance.
The financial position as of December 31, 2024, showed total equity and liabilities at 14,920.30 million rupees, up from 13,812.00 million rupees in 2023. The company's assets, including property, plant, and equipment, increased to 6,594.14 million rupees from 4,994.94 million rupees the previous year.
Looking forward, WorldCall Telecom Limited remains committed to delivering sustainable value and embracing emerging opportunities. The company aims to strengthen its position by investing in advanced digital infrastructure and aligning with government initiatives to navigate the challenges of an increasingly digital economy.