Nepal Telecom to provide 20 percent bonus to it’s shareholders
Nepal Telecom has made a 7.33 billion rupee profit. Dr. Baikuntha Aryal, Secretary at the Ministry of Communications and Information Technology and Chairman of the Board of Directors of Nepal Telecom, stated the firm earned a net profit of Rs. 7.33 billion during the company’s 14th Annual General Meeting on Thursday in Kathmandu.
He further emphasized that Covid-19 has resulted in some income reductions. “Through foreign and international affiliation services, the company has managed to sustain gross revenue and net profit of Rs. 42.21 billion and Rs. 7.13 billion, respectively,” Chairman Aryal added. Due to the diversity of offerings being offered at lower rates, Covid 19 has resulted in a decrease in voice and international services, as well as a decrease in revenue.
Telecom will also give shareholders a 20 percent bonus share. Aryal, Chairman of Nepal Telecom’s Board of Directors, stated that 20% bonus shares are being given out to promote shareholder morale.
Chairman Aryal further stated that infrastructure development has been accelerated in order to increase the quality of telecom services. Nepal Telecom has indicated that it has also been concentrating on the preparation work for the government’s online payment program.