WorldCall Telecom : Transmission of Quarterly Report for the Period Ended 30 September 2023

Quarterly Report

September 30, 2023

WorldCall Telecom Limited

WORLD CALL

WorldCall

WORLD

CALL

CONDENSED INTERIM

FINANCIAL INFORMATION

(UN-AUDITED)

QUARTERLY REPORT 2023

01	QUARTERLY REPORT 2023

WorldCall

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We at Worldcall are committed to achieving dynamic growth and service excellence by being at the cutting edge of technological innovation. We strive to consistently meet and surpass customers', employees' and stake-holders' expectations by offering state-of-the-art telecom solutions with national & international footprints. We feel pride in making efforts to position Worldcall and Pakistan in the forefront of international arena.

In the telecom market of Pakistan, Worldcall to have an overwhelming impact on the basis of following benchmarks:

• Create new standards of product offering in basic and value added telephony by being more cost effective, easily accessible and dependable. Thus ensuring real value for money to all segments of market.
• Be a leader within indigenous operators in terms of market share, gross revenues and ARPU within five years and maintain the same positioning thereafter.
• Achieve utmost customer satisfaction by setting up high standards of technical quality and service delivery.

Ensuring the most profitable and sustainable patterns of ROI (Return on Investment) for the stake-holders.

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Page Four

Company Information

Page Six

Directors' Review Report

Page Nine

Page Ten

Condensed interim Standalone Financial Statements

Page Thirty

Condensed interim Consolidated Financial Statements

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COMPANY INFORMATION

Chairman	Mr. Mehdi Mohamed Jawad Abdullah Al Abduwani
Chief Executive Officer	Mr. Abbas Raza
Board of Directors	Mr. Mehdi Mohamed Jawad Abdullah Al Abduwani	(Chairman)
	Mr. Syed Salman Ali Shah	(Director)
	Mr. Muhammad Shoaib	(Director)
	Mr. Babar Ali Syed	(Director)
	Mr. Muhammad Azhar Saeed	(Director)
	Mr. Mubasher Lucman	(Director)
	Mrs. Hina Babar	(Director)
	Mr. Tariq Hasan	(Director)
Chief Financial Officer	Mr. Shahzad Saleem
Executive Committee	Mr. Mehdi Mohamed Jawad Abdullah Al Abduwani	(Chairman)
	Mr. Muhammad Shoaib	(Member)
	Mr. Babar Ali Syed	(Member)
	Mr. Muhammad Azhar Saeed	(Member)
	Mr. Muhammad Sarfraz Javed	(Secretary)
Audit Committee	Mr. Muhammad Shoaib	(Chairman)
	Mr. Syed Salman Ali Shah	(Member)
	Mr. Mehdi Mohamed Jawad Abdullah Al Abduwani	(Member)
	Mrs. Hina Babar	(Member)
	Mr. Ansar Iqbal Chauhan	(Secretary)
Human Resource &	Mr. Mubasher Lucman	(Chairman)
Remuneration	Mr. Muhammad Azhar Saeed	(Member)
Committee	Mr. Muhammad Shoaib	(Member)
	Mr. Muhammad Sarfraz Javed	(Secretary)
Chief Internal Auditor	Mr. Ansar Iqbal Chauhan
Company Secretary	Mr. Muhammad Sarfraz Javed, ACA
Auditors	Tariq Abdul Ghani Maqbool & Co.
	Chartered Accountants
Legal Advisers	M/s Miankot Law Chambers
	Barristers, Advocates &
	Corporate Legal Consultant
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Bankers	Allied Bank Limited
	Askari Bank Limited
	Bank Al Habib Limited
	Faysal Bank Limited
	Habib Bank Limited
	Habib Metropolitan Bank Limited
	JS Bank Limited
	BankIslami (Pakistan) Limited
	MCB Bank Limited
	National Bank of Pakistan
	Pak Oman Investment Co. Limited
	Soneri Bank Limited
	Standard Chartered Bank (Pakistan) Limited
	Summit Bank Limited
	Telenor Microfinance Bank Limited
	The Bank of Punjab
	United Bank Limited
	Silkbank Limited
	Meezan Bank Limited
	Mobilink Microfinance Bank Limited
Registrar and Shares Transfer Office	THK Associates (Pvt.) Limited
	Plot No. 32-C, Jami Commercial Street 2,
	D.H.A., Phase VII,
	Karachi-75500 Pakistan.
	([phone]
	([phone]
			[e-mail]
Registered Office/Head Office	Plot No. 112/113, Block S,
	Quaid-e-Azam Industrial Estate,
	Kot Lakhpat,
	Lahore - Pakistan
	([phone], 35400609,
	([phone]
Webpage	www.worldcall.com.pk
	www.worldcall.net.pk

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DIRECTORS' REVIEW REPORT

The Board of Directors of Worldcall Telecom Limited ("Worldcall" or the "Company") is pleased to present its review report along with the condensed interim standalone and consolidated financial information for the nine-months ended September 30, 2023.

Economic Overview

In 2023, Pakistan faces a complex economic landscape characterized by a 3.4% estimated GDP growth, but marred by rampant inflation at 31.4% as of September 2023. Political instability further complicates the economic scene, deterring necessary reforms and foreign investments. On a positive note, the government is committed to economic reform. The success of these reforms remains pivotal in determining the nation's economic trajectory, with prospects ranging from robust growth to ongoing challenges. Addressing high inflation, narrowing the current account deficit, and implementing reforms are immediate policy priorities, while investments in human capital and a conducive business environment are essential for fostering a more prosperous and equitable future for Pakistan's citizens.

Financial Overview

Standalone Financial Statements

Summary of financial results for the nine-months ended September 30, 2023 are as follows:

	September 30,		September 30,
Particulars	2023	2022
	Rs. in million
Revenue-net	2,077		1,672
Direct Cost (excluding depreciation and Amortization)	(1,955)		(1,285)
Other expenses Income	(159)		(171)
EBITDA	(389)		(108)
Depreciation and Amortization	(712)		(820)
Finance Cost	(452)		(291)
Loss after tax	(1,575)		(1,234)

During the period under review, the Company closed its financial results reporting Rs. 1,575 million as loss after tax. Positive movement in revenue was witnessed and corresponding hike in direct costs aligned with the earlier. Finance cost witnessing adverse movement on account of increase in KIBOR. The significant devaluation of PKR (Rupee-Dollar-Parity) has severely affected the profitability of the Company.

Consolidated Financial Statements

Condensed interim consolidated financial statements comprise the financial results of WorldCall Telecom Limited (Parent Company) consolidated with Route 1 Digital (Private) Limited (Subsidiary Company). Route 1 Digital is a private limited Company incorporated in Pakistan.

Earnings per Share

The loss per share of the Company on a consolidated as well as on standalone basis is Rupees 0.50 per share.

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Future Outlook

WTL's future outlook is all about technological transformation; roadmap of which may be segregated in broader segments of (1) Fiber to The Home (FTTH) planned deployment & penetration in urban areas and (2) strategic alliance with World Mobile Group (WMG) by lending technological/ logistic support to them in their initiatives for the underprivileged nations around the globe namely "connect the unconnected" and broadband for all. Pivotal point which needs utmost emphasis is that our existing infrastructure is massive, ample and positioned in a way to fully augment and advance business segments mentioned hereinabove and our future technological expansion.

Company's staff and customers

we deeply appreciate the pioneering ideas and unwavering commitment of our dedicated team. Their tireless efforts consistently drive us towards a relentless pursuit of improvement. Whether it's through embracing technological advancements or reshaping the very essence of how business interactions take place, we prioritize collective collaboration. Our journey is characterized by active participation from our peers, management, stakeholders, and owners, all sharing their valuable perspectives on our path and ultimate destination.

Together, we are forging a future that redefines industry norms and shapes the way we connect and engage with one another. We are committed to empowering our workforce and delighting our customers as we march forward toward our collective vision. Thank you for being a part of this transformative journey.

For and on behalf of the Board of Directors

Lahore, Pakistan	Abbas Raza
October 31, 2023	Chief Executive Officer

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	September 30,		September 30,
Particulars	2023	2022
	Rs. in million
Revenue-net	2,077		1,672
Direct Cost (excluding depreciation and Amortization)	(1,955)		(1,285)
Other expenses Income	(159)		(171)
EBITDA	(389)		(108)
Depreciation and Amortization	(712)		(820)
Finance Cost	(452)		(291)
Loss after tax	(1,575)		(1,234)

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