Net profit of NT declines to Rs 3.93 bilion
Feb. 14, 2024, 11:28 a.m.
KATHMANDU, FEBRUARY 14: The net profit of Nepal Telecom (NT) declined by 7.60 percent to Rs 3.93 billion in the first six months of the current fiscal year. From mid-July to mid-January of the fiscal year 2022/23, such a profit had been recorded at Rs 4.25 billion.
The downturn in NT’s profits during the review period is ascribed to various factors. They are a decline in the interconnection income by Rs 529.27 million due to the usage of the OTT service, failure in the timely repair of the distribution sites, disruption in electricity supply, increased cost in expanding its services in remote areas, etc.
In the first half of FY 2023/24, the revenue earned by the company also declined by 3.58 percent to Rs 21.30 billion.
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