⚡ Flash Summary

WorldCall Telecom Limited reported results for the nine months ended September 30, 2025. The company experienced an increase in revenue, from PKR 3.673 billion in 2024 to PKR 4.335 billion in 2025. Despite this growth, the company continues to report a loss after tax, although the loss decreased from PKR 1.090 billion to PKR 0.674 billion. Key initiatives for the company include network transformation and digital expansion, including a focus on fiber network strengthening and digital connectivity.

📌 Key Takeaways

• 📈 Revenue increased to PKR 4.335 billion, up from PKR 3.673 billion year-over-year.
• 📉 Loss after tax decreased to PKR 674 million, compared to PKR 1.090 billion in the previous year.
• 🌐 Focus on network transformation and digital expansion.
• 📡 Implementing structured transformation plan to strengthen fiber network.
• 🏘️ FTTH rollout across key urban clusters to improve user experience and ARPU.
• 🤝 Collaboration with SWITCH Fiber to enhance last-mile access and regional reach.
• 🤝 Pursuing cross-sector partnerships to introduce bundled digital services.
• 🏢 Establishing a Center of Excellence (CoE) to support data enablement and scalable technology deployment.
• 🤝 GlobalTech deploying enhanced AI and Big Data solutions to clients, supported by a cost-optimized operations center in Pakistan.
• 🏫 Launched the Giggle Academy initiative in partnership with WMG to bridge the digital divide by providing free access to modern learning tools.
• 🚀 Started deployment of 200K connection project for low-cost broadband connectivity in underserved areas.
• 🏦 Finalized Go To Market (GTM) plans for CADNZ product (Customer Relationship Management solution tailored for the banking and financial sector).
• 💻 Started client engagement for technology solutions focused on existing solutions with integration of AI and Big Data domains.

🎯 Investment Thesis

Given the continued operating losses, I recommend a HOLD position on WorldCall Telecom. A HOLD position is recommended while the company continues to implement and execute on plans for increased revenues and profitability. The price target is \$0.01. This will be reassessed in one year with significant improvement in the company fundamentals.