Kathmandu, Aug 15: Nepal Telecom (NTC), the state-owned public entity, has released its fourth-quarter financial results for the fiscal year 2080/81, revealing a 16.44% decline in net profit.
According to NTC, it’s net profit dropped to Rs. 6.62 Arba from Rs. 7.92 Arba in the corresponding quarter of the previous year. This decline is largely attributed to a 4.99% decrease in revenue from operations, which amounted to Rs. 34.46 Arba.
The company also reported a significant 22.52% reduction in its investments, now standing at Rs. 55.76 Arba, alongside a 16.68% drop in finance income, which totaled Rs. 6.48 Arba.
However, it’s reserves and surplus slightly increased by 0.83% to Rs. 76.58 Arba. Additionally, the company successfully reduced its operating and maintenance expenses by 12.98%, bringing them down to Rs. 6.64 Arba.
Despite these cost-saving measures, the overall financial performance was impacted, with the annualized Earnings Per Share (EPS) declining to Rs. 36.77 from Rs. 44.00 in the previous year.
