NTC Profits Soar Despite Income Dip ➤ Nep123.com

NTC Profits Soar Despite Income Dip

Nepal Telecom Showcases Resilience with Increased Net Profit in Q3 FY 2023/24 Report

Nepal Telecom (NTC), the leading telecommunications service provider in the country, has recently published its third-quarter report for the current fiscal year 2023/24. Despite facing a decrease in income during the review period, the company has managed to record an impressive increase in net profit, showcasing its resilience and adaptability in the dynamic telecom market.

According to the report, NTC’s net profit surged to Rs. 5.59 billion, reflecting a 3.36 percent growth compared to Rs. 5.41 billion during the same period in the previous fiscal year. This remarkable achievement can be attributed to the company’s strategic cost management initiatives, which resulted in a significant decline in tax expenses, thereby boosting its bottom line.

While the company experienced a 6.82 percent decrease in overall income, amounting to Rs. 25.48 billion, its financial income and total income also saw declines of 8.90 percent and 6.03 percent, respectively. However, NTC’s proactive measures to reduce financial expenses by a substantial 66.82 percent played a crucial role in offsetting the impact of the income dip on its profitability.

With a robust paid-up capital of Rs. 18 billion and an impressive reserve fund of Rs. 74.33 billion, NTC continues to maintain a strong financial position. The company reported an Earnings Per Share (EPS) of Rs. 41.44, a Net Worth Per Share of Rs. 512.99, and a Price-to-Earnings (P/E) ratio of 20.13 times, further solidifying its standing as a prominent player in the Nepali telecom industry.

NTC’s ability to navigate challenges and deliver positive results demonstrates its commitment to operational excellence and sustainable growth. As the company continues to invest in innovative technologies and customer-centric solutions, it remains well-positioned to capitalize on the increasing demand for reliable and efficient telecommunications services in Nepal.

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