In a notice to Pakistan Stock Exchange, Telecard Ltd has notified that its subsidiary, Supernet Limited along with Avara Technologies Pty Ltd. has been awarded a longterm program from a major Pakistan based customer for supply of telecommunication equipment, warranty and support services, and trainings.
The statement further states that Earlier this year, Supernet and Avara successfully completed Phase 1 of the program, despite supply chain and logistics challenges due to the COVID-19 pandemic.
The customer has now formally launched Phase 2 with Supernet. The combined revenue of the business awarded to Supernet so far exceeds PKR 400 million, and Supernet expects a regular flow of additional orders over multiple years. The program is expected to remain active into the next decade.
Telecard hit upper cap during the trading session on Tuesday to trade at Rs. 17.53/share, up by 7.5% in a day.
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