Wateen Telecom Limited’s financial results for the third quarter and nine months ended March 31, 2013
Karachi, August 06, 2013 (PPI-OT): We are pleased to inform you that the Board of Directors of Wateen Telecom Limited (WTCL), in their meeting held on August 05, 2013, at 2-E-II, Oberoi House, Gulberg III, Lahore, Pakistan, has approved the financial results of the Company for the third quarter and nine months ended March 31, 2013 and recommend the following:
Cash Dividend
Nil
Bonus Shares
Nil
Right Shares
Nil
The Financial results of the Company for the third quarter and nine months ended March 31, 2013 are as follows:
3 months to 9 months to
March 31, March 31, March 31, March 31,
2013 2012 2013 2012
(Rupees in Thousands)
Revenue 1,839,326 1,953,059 6,225,592 5,330,007
Cost of sales (excluding
depredation and amortization) 1,143,228 1,577,903 4,293,579 4,605,827
General and administration expenses 453,403 381,318 1,100,568 1,588,475
Advertisement and marketing expenses 18,946 53,144 44,897 249,180
Selling and distribution expenses 4,101 8,605 22,707 34,469
Provisions 11,285 169,535 113,535 284,519
Other income (19,879) (16,928) (57,822) (66,370)
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1,611,084 2,173,578 5,517,884 6,696,100
Earnings/ (Loss) before interest, taxation,
depreciation, amortisation and impairment 228,242 (220,519) 707,708 (1,366,093)
Less: Depreciation and amortisation 204,616 528,114 567,781 1,590,597
Provision for impairment of Wirnax assets - - - 9,622,913
Finance cost 593,791 352,272 1,970,023 2,224,615
Finance income (41,966) (33,571) (116,157) (105,836)
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Loss before taxation (528,199) (1,067,334) (1,713,939) (14,698,443)
Deferred income tax expense - (6,378) - (1,718,594)
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Loss for the period (528,199) (1,073,712) (1,713,939) (16,417,036)
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Loss per share-(Rs) (0.86) (1.74) (2.78) (26.59)
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We will send you 300 no. of copies fur distribution amongst shareholders.
For more information, contact:
Sajid Farooq Hashmi
Company Secretary
Wateen Telecom Limited
4th Floor, New Auriga Centre,
Main Boulevard,
Gulberg II, Lahore, Pakistan
UAN: 111-365-111
Fax: +92-42-35787000
Web: www.wateen.com
Email: info@wateen.com