Japan's NTT reports 21.8% dip profits

Nippon Telegraph and Telephone (NTT), Japan's top telecommunications company, reported a 21.8% drop in profit for the April-December period due to declines in voice and fixed-line operations, an Associated Press report said.

The Associated Press report quoted Tokyo-based NTT as saying that profit for the nine months fell to 320.86 billion yen ($3 billion) from 410.14 billion the same period the previous year.

NTT's fiscal year begins April 1. The company did not breakdown quarterly results.

The Associated Press report further said sales for the first three fiscal quarters edged down 1.1% to 7.844 trillion yen ($73.45 billion) as growing income from data transmission and broadband links took a hit from lackluster results in voice and fixed-line operations.

Although profitability declined in mobile businesses, the decrease was smaller than what was recorded the previous year, the company said.

NTT left its profit forecast unchanged for the full fiscal year to March 31 at 530 billion yen ($4.96 billion), up 11.1% from the previous year, the report further said.