Worldcall Telecom Limited’s financial results for the nine months ended 30 September 2011

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Karachi: We have to inform you that the Board of Directors of our company in their meeting held on 31, October 2011 at 04:00 p.m. at Omantel Head Office, Muscat, Sultanate of Oman have recommended the following:

Cash Dividend       Nil
Bonus Shares        Nil
Right Shares        Nil

The financial results of the company are as follows:

 

	Nine Months	Nine Months	Quarter ended	Quarter ended
	ended 30	ended 30	30 September	30 September
	September 2011	September 2010	2011	2010
	(Rupees in “000”)
Revenue – net	5,564,762	5,975,512	1,863,597	1,553,632
Direct Cost	(4,526,731)	(5,125,842)	(1,443,321)	(1,458,291)
	———	———	———	———
Gross Profit	1,038,031	849,670	420,276	95,341
Operating Cost	(1,154,092)	(1,212,857)	(406,456)	(376,718)
	———	———	———	———
Operating (loss) /profit	(116,061)	(363,187)	13,820	(281,377)
Finance cost	(531,090)	(558,959)	(185,146)	(181,606)
	———	———	———	———
	(647,151)	(922,146)	(171,326)	(462,983)
Impairment Loss on available for sale financial assets	(15,470)	(65,894)	(5,204)	(9,457)
Other operating income	385,243	46,312	322,965	39,297
	———	———	———	———
Profit before	(277,378)	(941,728)	146,435	(433,143)
Taxation
Taxation	185,813	197,498	61,877	99,499
	———	———	———	———
(Loss)/ profit after taxation	(91,55)	(744,230)	208,312	(333,644)
	———	———	———	———
(Loss)/earning per share – basic and diluted (Rupees)	(0.11)	(0.86)	0.24	(0.39)

 

Since the company has not declared any payouts, therefore no book closure is required.

Board discussed the funding phase 2 for the Company amounting to US$ 35 million in the form of convertible shares. Various options were discussed for implementation.

Board also ratified management’s action on the TFC-III redemption payment deferral for a period of 60 days.

For more information, contact:
Rizwan Abdul Hayi
Company Secretary
Worldcall Telecom Limited
67 A, C- III, Gulberg-III, Lahore.
Tel: (92 42) 35872636-8
Fax: (92 42) 35755231