By A Staff Reporter, Kathmandu, Jan. 14: The 12the annual general meeting of Nepal Telecom (NT) held on Tuesday decided to distribute 45 per cent dividends to its shareholders from its profits of fiscal year 2018/19.

The NT had earned a net profit of Rs. 9.73 billion during the fiscal year 2018/19.

According to the company, a total of 92 per cent shareholders were present in its annual meetings held today. The meeting also approved the balance sheet, profit-loss and cash-flow account of the company by the end of fiscal year 2018/19.

Presenting the annual report of the company, chairman of NT and secretary at the Ministry of Communication and Information Technology, Dipak Subedi said that the company contributed Rs. 33.31 billion to the government treasury from tax and non-taxes heading during the fiscal year 2018/19.

He said that despite the significant decline in tariff rates on voice and data service, the company had been able to earn revenue of Rs. 43.84 billion and net profit of Rs. 9.76 during last fiscal year.

The meeting also appointed Prakash Jung Thapa and Achyut Raj Joshi as charter accountant and auditor of the company for the current fiscal year 2019/20.

Subedi said that the market share of NT on voice and service had increased by 3.93 per cent and 4.75 per cent to be 54.83 and 48.41 per cent respectively.

Highlighting causes behind the decline in revenue and profit of the company in last fiscal year, Subedi said that the company’s revenue would increase this fiscal year owing to the expansion of 4G/LTE, FTTH and other value added services.