Nepal Telecom reports stagnant growth in Q3 as business doesn’t grow much

ShareSansar, May 13:

Nepal Doorsanchar Company Limited aka Nepal Telecom has reported a marginal profit rise of 1.29 percent in the third quarter of the current fiscal year 2070-71.

According to the unaudited report for the third quarter published today by the state-run telecom giant, its net profit has surged to Rs 8.60 arba, up from Rs 8.49 arba in the corresponding quarter of the last fiscal year.

The profit remained by and large stagnant much as its income from services rose only slightly to Rs 26.32 arba in the third quarter up from Rs 25.27 arba in the corresponding quarter.

Nepal Telecom has also provisioned Rs 2.76 arba for the income tax while its current liabilities stand at 1.60 arba.

Its EPS now stands at Rs 74.57 and net worth per share at Rs 395.86.

In the quarterly report, Nepal Telecom has noted that market competition (especially from NCell), rapid development and advancements of telecom technologies as well as illegal transactions in international calls, customers’ expectation of services and massive power cuts as some of its major external challenges.

Similarly, change in the work style of employees as well as improving the quality of services it provides  as well as expansion of its services are the major internal challenges.