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NTT H1 Net Profit Edges Down, Operating Profit Up; Sees Higher Earnings, Weak Revenues In FY

Japan's Nippon Telegraph And Telephone Corp. (NTT) reported Friday that its first-half profit attributable to the company edged down 1.1 percent to 541.51 billion yen from 547.67 billion yen last year. Earnings per basic share edged up to 145.86 yen from 145.53 yen last year.

Pre-tax profit edged up 0.3 percent from the prior year to 1.005 trillion yen and operating profit grew 2.6 percent to 1.009 trillion yen.

Operating revenues were 5.71 trillion yen, down 0.3 percent from 5.89 trillion yen last year.

Looking ahead, for fiscal year ending March 31, 2021, the company expects attributable net profit of 860 billion yen or 232.40 yen per basic share, a growth of 0.5 percent from last year. Operating profit would be 1.59 trillion yen, up 1.8 percent, and operating revenues would be 11.50 trillion yen, down 3.4 percent year-over-year.

Separately, NTT announced repurchases of up to 120 million shares of common stock at aggregate repurchase amount of up to 250 billion yen.

The company will buy back shares between November 11 and March 31, 2021.

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