Telecom’s Asset Effected by Corona, 2 Billion Drop in Profit

Nepal Telecommunications Authority

Telecommunication service providers are having a negative impact in the current fiscal year due to the corona infection. The recent calculations of service providers, who are losing huge income due to international calls due to increasing use of the internet, have started to shrink.

Government invested Nepal Telecom is also not far from Corona’s transition. According to the company’s unaudited half-yearly financial statements for the current fiscal year 2077/78 released on Friday, the telecom has lost more than Rs 1.30 billion in revenue.

Nepal Telecom’s Profit was Rs 2 Billion more this time last year, As of January, the revenue of the telecom is around Rs 20.59 Billion.

Last year, the company had earned close to Rs 21.92 billion. The major part of that revenue comes from selling services. That’s about  Rs 17.72 billion by selling services.

The revenue from selling services was Rs 18 Billion the year earlier. The net profit has dropped down to  Rs 5.20 billion compared to Rs 7.17 billion last year.