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Nepal Telecom increases its profit by 10 percent, for 1st Q of FY 2075/76
Reduces the expenditure
Nepal Telecom (NTC) has increased its profit for the first quarter of FY 2075/76 by 10 percent. Their net profit for the first Quarter 75/76 is around Rs 4.5 billion whereas in the same period last year had a profit of just Rs 4.05 billion. The report comes as Nepal Telecom publishes its financial statement for the 1st quarter of FY 2075/76.
The revenue of Ntc out of their telecom service has decreased by around Rs 1.09 Billion. Last year they had revenue of Rs 10.58 billion from the sales of their revenues whereas they could only collect revenue of Rs 9.49 billion this fiscal year, for the first quarter.
Other incomes for the telecom company is higher than the previous year. The total income in the company this year is Rs 10.85 billion whereas last year they had an income of Rs 11.83 billion. Although their income has decreased, they could increase their net profit due to significant control over their expenditures.
Their total expenditure for that period last year was Rs 6.4 billion whereas this year the net expenditure comes to Rs 5.9 billion.
The Financial statement of the company mentions the degradation of their revenue is mainly due to international business. As the OTT apps like Viber, WhatsApp become popular, it has a negative effect on international business. They say they will take effective measures to maintain their revenue.
The per share income of Ntc increases from Rs 108 to Rs 118. Ntc has paid up capital of Rs 15 billion. Nepal Telecom has reserve and surplus amount of Rs 87.98 billion. The market share price of Nepal Telecom (NTC) is now Rs 780 per share.
Nepal Telecom (NTC) is the pioneering telecom operator of Nepal with services like PSTN, GSM mobile, CDMA, WiMAX and more. They have planned to launch 4G service in every place of Nepal.
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