Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Net profit of state-owned telecom company – Nepal Telecom (NT) – has decreased, during the third quarter of the current fiscal year 2021/22, by 7.63 per cent during the third quarter of the current fiscal year compared to the same period last fiscal year.
The company has earned a net profit of Rs. 5.43 billion in the review period of the current fiscal year 2021/22 while it had earned a net profit of Rs. 5.88 billion in the third quarter of the last fiscal year 2020/21. However, operating income of the company has increased by 2.8 per cent during the review period. The operation income of the NT stood at Rs. 28.21 billion during the third quarter of the current fiscal year while it was Rs. 27.45 billion during the same period a year ago.
The NT was able to collect revenue of Rs. 32.53 billion during the review period which is 2.72 per cent higher than the corresponding period last year.
The decline in revenue and profit was due to the decline in the use of intercommunication services, including international roaming, caused by COVID-19 pandemic, said NT.
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