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Tuesday, October 26, 2021
    Nepal Breaking NewsBusinessNepal Telecom's earnings are declining as a result of the pandemic.

    Nepal Telecom’s earnings are declining as a result of the pandemic.

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    The profit of Nepal Telecom fell in the fiscal 2077-78. According to the telco’s financial report, the company’s earnings decreased by more than 2.3 billion over the previous fiscal year.

    In fiscal 2077-78, the earned a profit of Rs 7.45 billion, while in fiscal year 2076-77, the company earned a profit of Rs 9.74 billion.

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    Meanwhile, NT’s earnings from its core services increased. In 2076-77, NT earned service revenues of 34.61 billion, while earnings from core services reached Rs 35.9 billion, an of 3.7 percent on year (YoY).

    NT has attributed its profit decline to the following factors: reduced economic activity due to Covid-19, lower interest rates from banks and financial institutions on the company’s deposits, highly cost- data packs customers during the pandemic while maintaining the lowest profit margins, huge drop in revenues from roaming with -related travel bans and in

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