Qudsia Bano

Telecard Limited’s revenues from sales increased by 15% to Rs791 million in the first half of the ongoing fiscal year 2022-23 from Rs689 million recorded in the corresponding period of the previous fiscal, reports WealthPK. The gross profit of the company increased by just 1% to Rs342 million in 1HFY23 from Rs338 million in 1HFY22.

However, the profit-before-tax plunged to Rs65 million in 1HFY23, showing a 76% fall from the pre-tax profit of Rs270 million in 1HFY22. The company posted a 41% negative growth in net profit, which stood at Rs64 million in 1HFY23 compared to Rs108 million in 1HFY22.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales increased by 23% to Rs1.5 billion from Rs1.2 billion in FY21. But, the gross profit for FY22 stood at Rs527 million, 6% down from Rs562 million in FY21. The profit-before-tax, however, increased to Rs526.9 million in FY22 from Rs360.5 million in FY21, registering a yearly growth of 46%. Also, the after-tax profit increased to Rs297 million in FY22 from Rs273 million in FY21, posting a growth of 9% on a year-on-year basis.

The earnings per share of the company increased to Rs0.95 in FY22 from Rs0.87 in FY21.

About the company

Telecard was incorporated in Pakistan on October 29, 1992, as a public limited company under the now repealed Companies Ordinance, 1984. The company provides fully integrated telecommunication services, including basic wireless telephony, long-distance and international services, and payphones.

Credit: Independent News Pakistan-WealthPk