KATHMANDU, NOVEMBER 14: The total income of Nepal Telecom (NT) has seen a decline of Rs 391.297 million i.e. 3.54 percent in the first quarter of the current fiscal. It was disclosed in a financial report of the Authority published recently.
In the last three Nepali months of Shawan (July 17 to August 17), Bhadra (August 18 to September 17) and Ashwin (September 17 to October 17) of this fiscal, the total income generated by the state-run entity was Rs 10 billion 720 million 793 thousand, while the same in the corresponding period last year had been calculated at Rs 11 billion 40 million 90 thousand.
The NT attributed the very downturn to the rapid expansion of over-the-top (OTT) media services and economic recession, among other reasons. “Due to the growing use of OTT services, there has been a decrease in the volume of tariff revenue by approximately Rs 491 million. Similarly, the slowdown in economic activities led to a relative decline in the consumption of the company’s products and services,” the report reads.
During the first quarter of the current fiscal, the total operating income went down by Rs 492 million 521 thousand i.e. 5.43 percent to Rs 8 billion 585 million 63 thousand.
Similarly, the net profit of the NT went down by 198 million 74 thousand i.e. 8.9 percent to Rs 2 billion 27 million 432 thousand i.e. 8.9 percent during the review period.