KATHMANDU: Nepal Telecom (NT) has announced its financial results for the fourth quarter of fiscal year 2080/81, showing a 16.44% decrease in net profit, which fell to Rs. 6.62 billion from Rs. 7.92 billion in the same quarter of the previous year.
This drop is primarily due to a 4.99% reduction in revenue from operations, which totaled Rs. 34.46 billion.
The company also experienced a substantial 22.52% decrease in investments, now at Rs. 55.76 billion, and a 16.68% fall in finance income, which came to Rs. 6.48 billion.
Meanwhile, Nepal Telecom saw a modest 0.83% increase in reserves and surplus, reaching Rs. 76.58 billion.
The company also managed to cut operating and maintenance expenses by 12.98%, reducing them to Rs. 6.64 billion.
