Technology & Communication: WORLDCALL MULTIMEDIA LIMITED - Nine Months Ended March 31 2004

The principal activity of the company is to rebroadcast international/national satellite/terrestrial wireless and cable television and radio signals as well as interactive communication as an internet service provider (ISP). Pakistan Telecommunication Authority and Pakistan Electric Media Regulatory Authority have licensed the company for these purposes.
Effective 01 July 2002, WorldCall Dot Com (Pvt) Ltd wholly owned subsidiary merged with the company.
WorldCall Communications Ltd owns directly and indirectly 99.93% of the share capital of the company. In the coming months, the directors foresee that their main focus will be on the internet over cable connectivity, which will play a major role in growth of the company.
Certain expansion plans are in process to cover more areas for providing existing services and new markets in the lit up areas are being successfully explored.
Expansion plans regarding telephony and allied services over network are in process are also in process, subject to availability of licenses. During the period underway the company's revenues and gross profit increased substantially but the operation could simply strike break even producing nominal operating profit replacing large operating loss of the same period last year.
But it could not absorb the financial charges. Hence the company could not escape going into the red at bottom line.

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Performance Statistics                (Million Rupees)

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Balance Sheet                                  -As At-

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                                 March 31      June 30

                                     2004         2003

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Share Capital-Paid-up:             530.00       530.00

Accumulated (Loss):                (83.68)     (67.70)

Shareholders Equity:               446.32       462.30

L.T Debts:                          64.34        85.23

L.T Deposits:                        3.33         3.50

Deferred Liabilities Gratuity:       6.24         4.28

Current Liabilities:               174.79       152.32

Tangible Fixed Assets:             498.65       537.86

Intangible Assets:                   6.34         6.94

L.T Deposits:                        4.94         7.29

Deferred Costs:                     12.78        17.29

Deferred Tax:                       38.86        35.06

Current Assets:                    133.45       103.19

Total Assets:                      695.02       707.63

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Profit & Loss A/C For

 Nine Months Ended          March 31 2004         2003

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Revenues:                          184.24       117.51

Gross Profit:                      128.54        71.57

Operating Profit/(Loss):             0.66      (40.48)

Financial (Charges):               (19.94)     (18.19)

Other Income:                        0.42         1.59

(Loss) Before Taxation:            (18.86)     (57.09)

(Loss) After Taxation:             (15.98)     (49.66)

(Loss) Per Share (Rs):              (0.19)        0.94

Share Price (Rs) on 18.08.2004:     12.00            -

Price/Earning Ratio:                   (-)           -

Book Value of Share (Rs):            8.42         8.72

Debt/Equity Ratio:                  13:87        16:84

Current Ratio:                       0.76         0.68

Gross Profit Margin (%):            69.77        60.91

Net Profit Margin (%):              (8.67)     (42.26)

R.O.A (%):                          (2.30)        5.97

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