Nepal Telecom (NTC) aka Nepal Doorsanchar Compaby Ltd. has successfully conducted its 17th Annual General Meeting (AGM) on Poush 28, 2081 while announcing Rs 30 cash dividend per share for FY 2080/81. The annual event was held at Rastriya Sabha Griha, Pradarshani Marga, Kathmandu. At the event, the company also shared its progres in telecommunications and revealed plan for 5G.
The AGM was attended by shareowners who represented 91.62% of shares in the company. Customarily, the meeting unanimously discussed and passed the annual report of the Board of Directors for the FY 2080/81, the auditor’s report, the balance sheet, the profit and loss account, cash flow statement, and other schedules as of Ashar 2081.
Nepal Telecom approves Rs 30 cash dividend for FY 2080/81 at its 17th AGM
The meeting determined that Nepal Telecom shareholders will earn Rs 30 per share from the company’s earnings in FY 2080/81. In FY 2080/81, the company generated Rs 6,617,776,000 in profit from its total revenue of Rs 41,617,117,000. Check out details: Nepal Telecom’s financial report in FY 2080/81
The company has made arrangements to distribute the dividend amount as approved by the 17th general meeting to the general shareholders through NMB Bank from today (Poush 28, 2081).
Similarly, the general meeting, also appointed chartered accountants Narendra Bhattarai and Prakash Jung Thapa as auditors to audit the company’s accounts for the financial year 2081/82. The two were appointed after consultation with the Office of the Auditor General and on the recommendation of the company’s Audit Committee. The meeting also fixed their remuneration for their auditing work for the FY 2081/82.
Ntc board director and MoCIT Secretary Radhika Aryal presented the report
On this occasion, the Chairman of the Board of Directors of the company and Secretary of the Ministry of Communications and Information Technology (MoCIT), Radhika Aryal, welcomed the shareholders present at the general meeting and presented the company’s 17th annual report. Presenting the report, she said that in the fiercely competitive environment in this sector, the company is focusing its programs on supporting the Government of Nepal’s concept of creating a digital Nepal by expanding and distributing services in geographically remote and remote areas, playing an additional supportive role as always in the field of e-governance, and reducing the digital divide by building an information highway through optical fiber.
She then shared that the company has reached 23 million customers during the review period. “Amidst various adversities seen in the internal and external environment, the company has succeeded in earning a total income of Rs 42.11 billion and a profit of Rs 6.23 billion. During the review period, the company contributed to the national economy by paying Rs 41.59 billion in revenue to the government of Nepal out of its total income for taxes and fees.’
Company’s progress report at 17th AGM
Service expansion
Aryal further shared that despite competition, Nepal Telecom has expanded 4G/LTE and FTTH services with both quality and quantity and continued with upgrade and distribution works. By the end of the review period, the 4G services have reached 743 local levels across 77 districts while FTTH is now available in all 77 districts. The company has also continued expanding services in the remaining areas with appropriate technology. Likewise, the company has also continued to study and reach for service expansion under GSM service models.
Similarly, the company has expanded the 1,395 km fiber network on the mid-hill highways and various routes connecting district headquarters in Koshi, Madhesh, and Bagmati provinces using RTDF support. Here are more details on this project: NTA’s game-changing RTDF Mid-Hill optical fiber project in Koshi Province
Backbone network upgrades
Aryal then shared, “The backbone network has been upgraded to expand 4G/LTE and FTTH services across the country. The construction of information highways through underground or BMC has been accelerated based on feasibility. High-capacity microwave radio links have been installed in places where optical fiber networks cannot be expanded, while satellite links have been replaced through microwave radio links, and special emphasis has been placed on connecting solar power systems to provide regular electricity to ensure uninterrupted service.”
Focus on modern technologies
The company’s focus is on replacing traditional technology-based telephone services with modern FTTH technology. “Considering the number of customers using this technology-based broadband service, the work of increasing and improving its quality and extending this service to all customers has been continued.”
NT is cooperating closely with the Nepal Telecommunications Authority (NTA) on studies for the commercial operation of the service after the test is successful with the necessary infrastructure.
The company acknowledges fierce market competition and has made efforts to find the future direction under the leadership of the employees following the global norm of recognizing the human resources working in the company in line with the times.
Plans till 2030
The company has set its shape and direction until 2030 through extensive discussions and interactions with stakeholders and experts. Aryal said that the company is aligning its services with changes in technology as OTT continues its massive growth.
The company has continued improvement of 2G network for voice and made more efforts in bringing 4G to all the customers. The company is likewise, studying commercial operation of 5G with NTA.
The NT Chairman of the company expressed his commitment to implement the various suggestions raised by the shareholders at the general meeting and expressed gratitude to the shareholders for their valuable suggestions.
Check out: Nepal Telecom’s fiber internet service: Plan, Packages
The company is known to delve on its further expansion plans and the queries from shareholders in improving service plans and maximizing the share wealth. Nepal Telecom has got 23 million subscribers in fixed and mobile telephony (2G, 3G, 4G) service.
