NTT’s first-quarter results impacted by quake costs

13 May 2011

Nippon Telegraph & Telephone Corp (NTT) today reported its results for the three months to 31 March 2011, noting that net profits slumped 30% year-on-year, impacted by the cost of repairing damaged facilities following the 11 March earthquake and tsunami. Dow Jones Newswires reports that NTT booked net income of JPY51.3 billion (USD633.5 million) in its fiscal fourth-quarter, down from JPY73.3 billion in the same period a year ago. Operating profit for the quarter fell by 12% y-o-y to JPY149.6 billion, although revenue rose 4% to JPY2.762 trillion. The telecoms giant said that the earthquake and tsunami, which damaged parts of its telecommunications network, had a negative impact of JPY28.2 billion on its fourth-quarter earnings. For the full year, NTT booked net income of JPY509.6 billion, up 3.5% y-o-y, operating profit of JPY1.215 trillion (8.7%) and revenue of JPY10.305 trillion (1.2%). For the current year to 31 March 2012, NTT is forecasting a 6% increase in net profit to JPY540 billion, a 2.1% rise in operating profit to JPY1.24 trillion and a 2.3% rise in revenue to JPY10.54 trillion.