Grameenphone reports 11.6pc revenue growth in 2019’s first quarter

- A Monitor Desk Report 24 Apr, 2019 | 2810 Views|-+
Dhaka: Grameenphone Ltd. reported total revenues of BDT 34.9 billion for the first quarter of 2019, a 11.6pc growth from the same period last year. The operator’s subscriber base grew by 9.8pc too in the same time period.

The company acquired 1.3 million new subscribers during the quarter, registering a 1.8pc growth from the end of 2018. It also acquired 1.1 million internet subscribers. 51.6pc of total subscribers of Grameenphone Ltd. are using internet services.

“We delivered a strong performance in the first three months of 2019 amid many challenges in the regulatory environment. Our strength remains in market execution where we pushed some new value propositions that gained good traction as well as saw an uptake in 4G conversion. We witnessed healthy growth in voice revenue as well as usage,” said Michael Patrick Foley, CEO, Grameenphone Ltd.

Net profit after taxes (NPAT) for the quarter was BDT 8.9 billion, with 25.6pc margin. Earnings per share (EPS) for the period stood at BDT 6.61.

In the first quarter Grameenphone Ltd. invested BDT 4.2 bn for network coverage, and rolled out 926 new 4G sites along with network modernisation. The total number of sites stands at 15,939. The company also paid out BDT 20.3 bn, or 58.1pc of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment.

Grameenphone Ltd. conducted its 22nd Annual General Meeting on April 23 maintaining a benchmark of compliance with all regulations. The shareholders approved the financial statements for 2018 and a 280pc cash dividend of PuC (including 125pc interim cash dividend) for the year 2018 among other agenda.

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