Nepal Telecom’s revenue grows by NRs. 1 billion in the third quarter of the current fiscal year 2077/78 as the number of active users grows.
The state-owned telco Nepal Telecom (NTC) released its financial reports for the third quarter of the 2077/78 fiscal year which shows the company’s incremental growth in revenues by about NRs. 1 billion.
Last fiscal year, the company collected NRs. 8.8 billion revenue in the third quarter while in the current run, it has collected a hefty NRs. 9.72 billion in the third quarter.
As per the stats, the telco earned a total revenue of NRs. 8.63 billion in the first quarter, followed by NRs. 9.8 billion in the second quarter. The revenue in the third quarter rose by a significant 7% (than that of Q2 2077/78) which amounts to NRs. 63 crores, 68 lakhs.
The current service revenues in the three quarters of the 2077/78 fiscal year (Shrawan-Chaitra) is an increase of 2.29% from the previous fiscal year 2076/77 (same period) with a total of NRs. 27.45 billion in amount.
“The financial reports have improved due to the growth of active users as well as an increase in FTTH subscribers”, pointed out NTC’s Managing Director Dilliram Adhikari. The company added the highest number of FTTH customers in the pandemic period, among all ISPs.
He followed with the stats that NTC’s active users have grown by 10 lakhs from the previous year.
However, the report is not all positive for the largest telecom operator in the country. Despite a strong showing in its revenues, the company’s net profits have seen a decline in comparison to the first nine months of the previous Fiscal Year 2076/77.
The company has accumulated a total profit of 5.88 billion in the first nine months of the current Fiscal Year. This is a decrease from NRs.7.56 billion of profits the company collected during the first 9 months (Shrawan-Chaitra) of the previous Fiscal Year. It means NTC saw a reduction in profit of about NRs. 1.68 billion this term.
The lockdown after the COVID-19 breakout has resulted in an incredible raise in NTC’s data consumption. As most people started “working from home”, going digital has become the norm. As a result, smartphone users subscribed to data packs in various ranges. Read more on Internet usage increased with the pandemic in Nepal.
NTC’s MD Adhikari said that from Baisakh onwards, data consumption has grown by 28%. In addition to this, fixed-line broadband ADSL and FTTH bandwidth use have risen by 30% since the same period.
Source: https://www.nepalitelecom.com/2021/05/nepal-telecoms-revenue-q3-2077-improves.html