The state-owned company’s income during the fiscal year 2013-14 was Rs 35.58 billion from services. This means the company has managed to post growth in its income from voice and data services, even though the company provided services worth Rs 1.46 billion for free immediately after the devastating quake of April 25.
The company’s total earning, including other incomes like interest on corporate bonds, debentures, pension fund and bank deposits in the last fiscal year stood at Rs 41.18 billion and net profit has gone up by double digits of 20 per cent in the last fiscal year to Rs 13.87 billion, against Rs 11.55 billion in the previous fiscal year.
However, the state-owned company has said that its net profit is subject to change depending on the decision regarding the GSM mobile licence renewal fee.
“The liability fee, if confirmed and quantified, will result in further cost to the company and hence, net profit after tax will be reduced,” as per the financial report.
As the government was yet to fix the revised rate of licence renewal fee, NTA in fiscal year 2013-14 had renewed its GSM mobile operating licence by paying only Rs 189 million against Rs 20 billion based on the existing provision. In the last fiscal year, the company’s expenditure came down to Rs 22.27 billion, down from previous fiscal year’s Rs 24.27 billion. This is solely because of decline in expense under the licensee fee.
As per the financial report, NT’s licence fee expense stood at Rs 64.73 million in the last fiscal year, while it was at Rs 3.35 billion in the corresponding year. All of its other expenses, including staff salary, operation and maintenance, administrative costs, royalty, contribution to Rural Telecommunication Development Fund, frequency fee and interest on subscribers have gone up.- Ktmpost
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