Nepal Telecom (Ntc) has earned over Rs 4 billion in profit in the second quarter (Q2) of the fiscal year FY 2079/80 while registering a loss in revenue from customer services, the company’s latest financial report highlights.
According to the report, Ntc earned Rs 4 billion, 25 crores, 47 lakh, and 77 thousand in profit in Q2, FY 2079/80. It’s a year-on-year increase of 9.16% during the same period from FY 2078/79. Previously, the company earned Rs 3 billion, 89 crores, 78 lakh, and 75 thousand.
|Ntc profit Q2 2079/80||Ntc profit Q2 2078/79||Difference|
|Rs 4.25 billion||Rs 3.89 billion||9.16%↑|
But the company registered a loss of 1.12 billion in revenue from customer services.
Loss in revenue in Q2 FY 2079/80
According to the report, Ntc generated Rs 8 billion, 30 crores, 20 lakh, and 55 thousand revenues from customer services in the second quarter of Q2, FY 2079/80. During the same period in FY 2078/79, the total revenue was Rs 9 billion, 43 crores, 19 lakh, and 23 thousand. It means the company lost Rs 1 billion, 12 crores, 98 lakh, and 68 thousand in the three months quarter period.
|Ntc revenue Q2 2079/80||Ntc revenue Q2 2078/79||Difference|
|Rs 8.30 billion||Rs 9.43 billion||Rs 1.12 billion↓|
Ntc earned from interest but saw an increase in administrative spending
However, the company was able to make more money from interest. It earned Rs 2 billion, 84 crores, 68 lakh, and 36 thousand. In FY 2078/79 same period, the telco drew in Rs 1 billion 60 lakh, 49 thousand, and 19 thousand in total.
|Ntc earning from interest Q2 2079/80||Ntc earning from interest Q2 2078/79||Difference|
|Rs 2.85 billion||Rs 1.60 billion||Rs 1.25 billion↑|
Likewise, the report shows an increase in the company’s administrative spending. In Q2 FY 2079/80, Ntc’s administrative expenditure reached 49 crores, 13 lakh. In the same period of the previous FY, the figure was 33 crore and 13 lakhs.
|Ntc spending Q2 2079/80||Ntc spending Q2 2078/79||Difference|
|Rs 49.13 crore||Rs 33.13 crore||Rs 16 crore↑|
Ntc is Nepal’s leading telecom provider with 52.24% market. The operator has over 2.15 crore subscribers in telephony services while it connects over 1.86 crores by high-speed 4G broadband service. The telco has also switched on its 5G trial in Kathmandu for internal testing.
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