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Nepal Telecom’s profit decreased by 7.5 percent, while earnings per share declined

Tech NewsNepal Telecom's profit decreased by 7.5 percent, while earnings per share declined
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Nepal online patrika , kathmandu | Nepal Telecom has earned a net profit of NPR 3.93 billion in the first six months from Shrawan to Poush of the current fiscal year. According to the company’s second-quarter financial report released publicly, this profit is a 7.59 percent decrease compared to the same period of the previous fiscal year when the company had earned NPR 4.25 billion in net profit.

The company’s income has been affected by the decrease in profit. In the second quarter of the current fiscal year, Nepal Telecom made a revenue of NPR 17.24 billion through telecommunication services. This is a decrease from the same period last year when the revenue was NPR 18.7 billion. Apart from telecommunication services, financial revenue has also decreased. The current financial revenue stands at NPR 3.95 billion in the second quarter, whereas it was NPR 4.61 billion in the previous fiscal year.

As the profit declines, the annual earnings per share of the company have also decreased. Currently, the annual earnings per share stand at NPR 43.68, while it was NPR 47.28 in the previous fiscal year. The company’s net worth per share is NPR 503. The share price of the company was NPR 880 each when the market closed on Monday.

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Nepal Telecom faces challenges in its business and profit due to the increased competition, especially from the Broadband service, which has gained attraction from customers compared to the traditional ‘WiMax’ service. The expansion of Broadband services has contributed to a reduction in revenue from mobile data.

The company, which has a paid-up capital of NPR 18 billion, has 8.47 percent of its total shares in the public group, equivalent to 10,524,600 units. The remaining 91.53 percent of shares belong to the founder group, which is government-owned. The company had distributed a 40 percent cash dividend to its shareholders from the profit of the last fiscal year.

 

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