NT makes a net profit of Rs 6.31 billion

KATHMANDU, FEBRUARY 5: Nepal Telecom (NT) posted a net profit of Rs 6.23 billion for the fiscal year 2023/24. It was revealed during a program held yesterday in the capital to mark its 21st-anniversary celebration.

The NT saw a total revenue of Rs 42.11 billion and a net profit of Rs 6.23 billion last fiscal.

Despite a slight decline in net profit compared to the previous fiscal year, the state-run telco remained profitable amid unfavourable economic conditions.

By mid-January of the current fiscal year, the NT had already generated approximately Rs 20.12 billion in revenue.

While addressing the program, Communication and Information Technology Minister Prithvi Subba Gurung instructed NT to roll out 5G services immediately.  "The world is already gearing up for 6G, so Nepal must act swiftly to implement at least 5G in major cities.

According to him, any failure to keep abreast of the latest technological advancements could cause NT to lag behind.

He further emphasised the importance of digital transformation across key sectors, including agriculture, health, education, energy, and tourism, to propel the country into the digital era.