Telecard Limited Reports Increased Revenue and Profit for the First Quarter of 2024

Karachi, Telecard Limited announced its financial results for the first quarter ended March 31, 2024, showcasing a significant increase in revenue and profit. The company reported consolidated revenue of Rs. 7,975 million, up from Rs. 3,864 million in the same period last year. Gross profit rose to Rs. 1,855 million from Rs. 1,382 million in the prior year. However, the gross profit ratio declined from 36% to 23% due to a change in the revenue mix and increased direct costs. Profit before tax also increased to Rs. 737 million from Rs. 409 million. According to information available from the Pakistan Stock Exchange (PSX), earnings per share (EPS) stood at Rs. 0.88, slightly down from Rs. 0.97 in the corresponding period.

On a standalone basis, revenue increased by 46% to Rs. 1,804 million, and gross profit improved to Rs. 612 million from Rs. 544 million. The gross profit ratio on a standalone basis decreased from 44% to 34%. The EPS improved to Rs. 0.67 from Rs. 0.32.

The board expressed confidence in the company’s strategy to leverage its experienced human resources and established business lines to enhance revenue and profitability in the technology sector. They also acknowledged the team’s efforts in achieving these positive results.