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Kathmandu, August 17: The profit of Nepal Telecom is continuously on the decline. According to the fourth quarter financial statement of the last fiscal year 2081/82 released by the company on Saturday, the profit has decreased by Rs 3.56 billion. During this period, the company has earned a profit of Rs 2.66 billion. In the fourth quarter of the fiscal year 2080/81, the company’s own profit was Rs 6.23 billion, but the profit fell by 57.21 percent.

The company’s revenue fell 8.03 percent. In the last financial year, the company made a profit of Rs 38.73 billion. During the same period of the previous fiscal year 2080/81, it had earned Rs 42.11 billion. The company’s revenue fell to Rs 3,880 crore. In the last financial year, the total revenue was 34.53 billion rupees. In the same period of the previous fiscal year 2080/81, it was Rs 34.56 billion. The per share income of the company is Rs. 14.82.

According to the company, the increased use of over-the-top (OTT) apps has affected revenue by reducing the amount of incoming calls from abroad. The interconnection revenue of telecom has decreased by Rs 419 million compared to the fourth quarter of the previous fiscal year 2080/81. The company made a one-time payment of 20 billion rupees for the renewal of GSM license last year, but the investment has decreased after the decision of the board of directors to allocate 4.97 billion rupees in the previous year 2080/81 for the retirement of employees and 13.15 billion rupees by the third quarter of the last fiscal year.

In addition, due to the gradual decrease in the interest rate offered by banks and financial institutions, the company’s income from interest has decreased by Rs 3.7 billion compared to the previous fiscal year 2080/81. At the same time, competitive internet service providers have reduced mobile data usage significantly by providing mobility and Wi-Fi services, being a state-invested company, the cost of expanding service and improving quality, even in remote and inaccessible places where there is a high cost but low return, the revenue has declined due to the reduction in service rate following a change in the policy and rules for determining the rate of service.

People’s News Monitoring Service.